tejpot:
United State is the most indebted country in the world with over 20 trillion dollars national dept and yet a capitalist nation. But the irony is, everyone wants to be in the US. Lagos is the most indebted state in Nigeria with billions of dollars in debt and yet capitalist driven, again, everyone wants to be in Lagos.

lmao...who wants to be in lagos?obviously not me... The USA has 20T of debt. But they can confidently account for it. Is that the case with Lagos? Mention one tangible project that was accomplished by Lagos government. I like Lagos for one reason. It is very diverse. The people are also warm and friendly. But if Lagos' indebtedness is not well watched, it will crash. You have to first of all admit that you people have a debt crisis over there. After all, the USA widely admits that they have a debt crisis.

globemoney:

Another peter obi otimkpu, what is peter obis achievement in Anambra afte r8 years, name any of peter obis legacy project after 8 years, you peter obi gullibles think its by propaganda

Lets be sincere, Peter Obi tried too just like Ngige

omofunaab:
Having huge debt profile shouldn't be an issue especially for states that have a robust economy.


I mean states with huge IGR more than an entire region


You spend money to make more money

Huge debt with huge population, over 25 million and not up to a million paying tax. Don't forget the degraded infrastructure put in place by the federal government

Yyeske:
Lets be sincere, Peter Obi tried too just like Ngige

I totally disagree with you... Anambra have only experience real Governance during Ngige and obiano. Obi was a sham, the more you look the less you see

kimbraa:
I expected Lagos State to be the least indebted State 'cause of its allocation and what it generates yearly.

Lagos has the best debt cover in Nigeria and hence the best ability to service their debt.

globemoney:

I totally disagree with you... Anambra have only experience real Governance during Ngige and obiano. Obi was a sham, the more you look the less you see

Hmmmm! I don't really think so, they could have their individual flaws but the 3 of them tried.
Call me Abagworo to say something here

Yyeske:
Hmmmm! I don't really think so, they could have their individual flaws but the 3 of them tried.
Call me Abagworo to say something here

Well, not ready to argue this here, I can indulge you if you can argue it here
https://www.nairaland.com/4060644/anambra-state-dualize-major-roads

globemoney:

Years of mismanagement and servicing of yoruba leader Tinubu.. Lagos needs a willie obiano

perhaps USA with the world highest debt has one American leader shr is servicing.

Ibime:


Lagos has the best debt cover in Nigeria and hence the best ability to service their debt.

Lagos could become another Greece if she is not careful, how many pay taxes there coupled with the huge debt they need to service? IGR and federal allocation can't cover the debt so Ambode should call Obiano to educate him.
FYI, the Greeks borrowed so much but so many never paid their taxes just like in Lagos

Bolustical:

[s]Tinubu's years of 'mismanagement' has made Lagos the 5th largest economy in Africa,

At least, you cannot compare it with the years of 'judicious spendings' of Orji Uzor Kalu, T.A Orji, Sam Egwu, Martin Elechi,

Tinubu's 'mismanagement' has made the likes of Evans desert the SE for more money in Lagos,

In fact, his 'mismanagement' caused Akwa Ibom government to go against the will of its people by planning to build a 21 storey mansion in Lagos,

Down deep in your heart, we know you want such 'mismanagement' in your state.[/s]

You are not from Lagos, lets talk about your state.. Without igbo investment in Lagos, I bet lagos will be no different from osun where you are from

globemoney:

Well, not ready to argue this here, I can indulge you if you can argue it here
https://www.nairaland.com/4060644/anambra-state-dualize-major-roads

No need bro

Danladi7:

perhaps USA with the world highest debt has one American leader shr is servicing.

Dont understand you

globemoney:
so mr fake news nwabobo where did you get your data from? Obi1kenobi

Oga Thomas...Go to the Nigerian Bureau of Statistics Website, visit their E-Library, select Economic Review and then Select the Nigerian Domestic and Foreign Debt report and download it to see for yourself

Danladi7:

perhaps USA with the world highest debt has one American leader shr is servicing.

And another I dont even know what to call him compares America with the single largest slum in the world

baddosky1:


Oga Thomas...Go to the Nigerian Bureau of Statistics Website, visit their E-Library, select Economic Review and then Select the Nigerian Domestic and Foreign Debt report and download it to see for yourself

Why not you go to school first?

pentax:
See oil producing states owing anyhow, South south politicians are the worst in Nigeria. E no go better for Ajimobi, just borrowing with nothing to show, I wish I can exchange Willie Obiano for Ajimobi

Your own opinion.

To me,he will be better for ajimobi.

Because to me,he has something to show!

Lagos State has the highest foreign debt profile among the 36 states and the FCT, accounting for 37 percent; Kaduna, 6 percent; Edo, 5 percent; Cross River, 4 percent; and Ogun, 3 percent, followed closely.

See ipob and their or die obsession with Osun state.

5 states owe more than Osun state after Lagos, but the ipob OP skipped over them and put Osun after Lagos as the highest even when the article posted did not make such claim in their tittle.


Igbos kill themselves over Osun state as if Aregbe is their goveernbor and is responsible for their gross backwardness and lack of development and not their own useless, corrupt and incompetent governors and elected officials.

globemoney:

Why not you go to school first?

Read what you just typed aloud to yourself then find out who between us did and did not go to school!

Yyeske:
Lagos could become another Greece if she is not careful, how many pay taxes there coupled with the huge debt they need to service? IGR and federal allocation can't cover the debt so Ambode should call Obiano to educate him.
FYI, the Greeks borrowed so much but so many never paid their taxes just like in Lagos

Ambode should get education from one of the most useless, incompetent and project-less governors in Nigeria..

Education in what? In one of the lowest and poorest budget and IGR in Nigeria or how to commission ZERO projects?

These Igbos fit kill pesin with lafta sha.

To show that lagos debt is not just a product of high infrastructure investment, osun state comes to mind.
Osun state is a backward state with one of the highest local and foreign debts. Just like lagos, she is governed by Yoruba kleptomaniacs from the APC.
What do both states have in common? They are Yoruba governed and under the APC.

deomelo:




Ambode should get education from one of the most useless, incompetent and project-less governors in Nigeria..

Education in what? In one of the lowest and poorest budget and IGR in Nigeria or how to commission ZERO projects?

These Igbos fit kill pesin with lafta sha.

Anambra state has better educational indices than lagos state. Even healthcare too.
Lagos is a shitt-hole. She ranks very low in many national indices aside from churning out huge IGR from foreign investors who have no better option anyway.
What is lagos doing with her money?

Bolustical:

Tinubu's years of 'mismanagement' has made Lagos the 5th largest economy in Africa,

At least, you cannot compare it with the years of 'judicious spendings' of Orji Uzor Kalu, T.A Orji, Sam Egwu, Martin Elechi,

Tinubu's 'mismanagement' has made the likes of Evans desert the SE for more money in Lagos,

In fact, his 'mismanagement' caused Akwa Ibom government to go against the will of its people by planning to build a 21 storey mansion in Lagos,

Down deep in your heart, we know you want such 'mismanagement' in your state.

I really dont like arguing here cos I realized that a majority here are not learned people, but occasionally seek to educate those who really want to learn. In public finance, it is not a virtue to say you are not owing, as you are only short-changing yourself and not optimizing your cash-flow. The whole idea is that saying you would live within your N100 per annum is poor finance, when you can accomplish projects worth N160 per annum, repay the deficit N60 over a long term of say 10 years, and in the meanwhile improve the economic outlook of your state in improving its productivity in such a way that justifies the loan you have taken.

Where public debt becomes a problem is when you borrow and embezzle practically the entire loan, borrow unsustainably such that you run bankrupt in a few years, or borrow at ridiculous rates perhaps using the wrong instruments (i.e financing infrastructure spending with bank loans at 23% instead of bonds at say 8%).

globemoney:
Anambra, no bailout funds, low debt profile and yet no civil servant is being owed salaries. Willie Obiano for president!

B4 I START RAINING INSULTS ON U, FIRST, R U FROM ANAMBRA?.

baddosky1:


Read what you just typed aloud to yourself then find out who between us did and did not go to school!

You need to go to school sha instead of circulating fake news and propaganda online

buchilino:


B4 I START RAINING INSULTS ON U, FIRST, R U FROM ANAMBRA?.

Yes I'm from Anambra and Willie Obiano is Anambra best governor ever, oya bring the insults.. onuku

Kogi and Ekiti have debts of N71b and N85b respectively and nothing to show

This is june's report op we are in the middle of September

Bagehot:


I really dont like arguing here cos I realized that a majority here are not learned people, but occasionally seek to educate those who really want to learn. In public finance, it is not a virtue to say you are not owing, as you are only short-changing yourself and not optimizing your cash-flow. The whole idea is that saying you would live within your N100 per annum is poor finance, when you can accomplish projects worth N160 per annum, repay the deficit N60 over a long term of say 10 years, and in the meanwhile improve the economic outlook of your state in improving its productivity in such a way that justifies the loan you have taken.

Where public debt becomes a problem is when you borrow and embezzle practically the entire loan, borrow unsustainably such that you run bankrupt in a few years, or borrow at ridiculous rates perhaps using the wrong instruments (i.e financing infrastructure spending with bank loans at 23% instead of bonds at say 8%).

Public debt in a third world country is a big deal. How has lagos justified her huge debts.?
Is lagos no longer one of the worst cities in the world? Does she now have world class drainage, education, infrastructure, healthcare, airports, seaports, e.t.c. courtesy of her huge debts?
Lagos debts is bigger than the entire south-east. And that does not bother you when lagos itself is nothing to write home about even with the humongous IGR.

globemoney:

Yes I'm from Anambra and Willie Obiano is Anambra best governor ever, oya bring the insults.. onuku

EWU GAMBIA

buchilino:


EWU GAMBIA

Is that the insults? iti. Come on zu zu puo ezi

globemoney:

Years of mismanagement and servicing of yoruba leader Tinubu.. Lagos needs a willie obiano

A state like Lagos needs borrowing for massive infrastructural development, and I believe you and I can witness the dividend of well spent (debt) on infrastructure, it's also possible that some states may have borrowed less cos they don't really know what they can spend money on that will better the live of their people and even generate more IGR for their state. Thumbs up Lagos State, we all know that in coming years the IGR will be triple.

deomelo:




Ambode should get education from one of the most useless, incompetent and project-less governors in Nigeria..

Education in what? In one of the lowest and poorest budget and IGR in Nigeria or how to commission ZERO projects?

These Igbos fit kill pesin with lafta sha.

You have never been to Anambra so won't engage you