…For allegedly frustrating Lagos projects
From CHUKS AKUNNA and IHEANACHO NWOSU
Lagos State governor, Mr. Babatunde Fashola (SAN) yesterday dragged President Goodluck Jonathan before the House of Representatives for allegedly frustrating a $600 million loan from the World Bank. Scuttling the loan, Fashola told the House Committee on Aid, Loans and Debts, that it would likely heighten the suffering of about 20 million people in Lagos.
“We have a commitment with the World Bank for a loan of $600 million offered to Lagos. It is supposed to be in three tranches and the first tranche was paid in 2011. We were expecting the payment of the second tranche when we got the shocking information that the loan facility had been stopped,” Fashola narrated.
He told the Hon. Adeyinka Ajayi-led committee that no official of the Federal Government supplied any reasons for the stoppage, but that the Coordinating Minister of Finance, Dr. Ngozi Okonjo-Iweala merely told him on the telephone that his state had been excluded from the 2013 and 2014 borrowing plans.
On the likely reasons for stopping the loan, the governor said: “Whatever the reasons are, for me, development and fairness and consistency are more paramount. And the interests of those people are more paramount, really. Because the roads have no political colour. The water that we have to provide has no political colour and security is politically-blind.”
Fashola told the committee that the stoppage of the loan had jeopardized his state’s 2013 and 2014 budgets and that road, water and other development projects were bound to suffer. Fashola expressed disappointment that the Federal Government would seek to frustrate a measure aimed at improving the lot of the citizens, moreso when his state had “ diligently pursued fiscal disciplines and prudence on the basis of which the World Bank” released the first tranche of $200 million.
President Jonathan can do what he likes now. Lagosians we should not be worried at all 2015 is at hand, our vote is our voice.
LAWAL FATAI, GOD DESTROY YOU and your bastard fashola, in coming 2015 we Lagosains will rout out your bastard tinubu /fashola acn.
coward
The only viable state in Nigeria is not allowed to borrow externally.
Well Johnathan and Okonjo Iweala’s anti Yoruba sentiments are clear but 2015 will be here sooner than we think.
Even Umaru did worse to Yoruba
WHY SEEKING FOREIGN LOAN WHICH CAN BE PAID BY TYINUMBU ALONE.
Lawal Fatai I think you are very senseless . Did you think that Lagos alone gave GEJ the ticket to presidency? If you are not aware please let it be known to you that 50% of the population of Lagos are South-East/ South-Southerner. Its only the region that can decide the faith of GEJ not you or your selfish people from the West. After-all, you all are ACNs but yet GEJ made an inroad right through your nose.
GEJ rules 2015!
We congratulate you for that. Let come 2015. You can give him another term without the rest of Nigeria. Best Regards.
Some foolish tribalist bigots forget that in a multicultural society, conflict resolution is paramount. GEJ without the support of the SW in 2011 would have lost. SS will always vote for PDP, SE flip flops on APGA or PDP. What about the NW, NE and SW? Do they not matter? GEJ will not run in 2015, his body language has exposed his plan. He is unable to make foray into the deep North, yet he remains president of a chaotic Nigeria. I believe he should gather a trusted security force together and pay a visit to the North unannounced. After all GEJ is the president of Nigeria. With the approach of villifying certain sections of Nigeria, the SE will not get the presidency come 2015. Alienating potential voters who trully believed that it is high time a competent leader of Igbo ethnic background emerge as the president will hold back from all the finger pointing and accusations. Keep watching, 2015 will be interesting since the SW is not angling for the presidency only playing Kingmaker.
Everything is now politics.
Why should fashola bollow money when he has tranport company collecting taxes of an increase of 400% house tax motor tax personal income tax so many tax has been generated in lagos state during his tenure so where is the money let him tell us the truth he should be not bollow in anambra state peter has not bollowed money while the road are constucted even without tax they generate in lagos so why is he decieving lagosian enough is enough ok
Bollwed money indeed,please check your grammar and stop writing rubbish as commentary.Period
Pay atention to the substance and not the grammer..
If Fashola can account for every Naira spent, and if the proceeds are for infrastructural development why not allow a supervised borrowing program. With better infrastructure comes investment and jobs resulting in additional revenue. It may sound strange to those who are not well educated and lack understanding of economics, but Lagos cannot and should never be compared to jungle rural areas where there are hardly any roads, no running water or even simple working toilets. Lagos is a city of about 20 million, twice the population of many of these ill equipped so called states. If you are a financial whiz kid, then make suugestions as to what feasible alternatives exist for infrastuctural development. We must admit that the people in charge of the economic policies of Lagos have to be ingenious in their methods to raise funds, otherwise the entire state will be one giant slum.
Fashola would be a perfect Governor/Nigerian should he tell the real reason behind the loan seizure.
With all the money Lagos state generate daily, it will be a shame to still talk of borrowing! Fashola u are one man I used to respect but with this, am very and highly disappointed in u! U are all the same!
You are ignorant that is why! The money is in foreign currency to ensure that externally sourced capital items like the Eko monorail etc can easily be paid for whilst the local money generated is for schools, hospital, repairing local roads and paying public servants etc.
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With heavy taxes, new agencies carved out of old ones and revenue generated, Lagos State should not talk of borrowing money. Roads in Lagos are not maintained, water is not provided and many Lagosians are providing water for themselves by digging boreholes in their homes. He does not need this loan. Fashola has driven many companies out of Lagos and new ones have relocated to Ogun State because of bad business environment coupled with heavy taxes and he still wants to borrow money. Other States that generate smaller revenue are not borrowing. If gold rusts, what will iron do. The Finance Minister knows that Lagos State should not borrow and so stopped it. Let him go to court.
JONATHAN IS OUR SECOND ENEMY OF PROGRESS AFTER OBJ,THIS IS HOW OBJ SEIZE LAGOS MONEY UNDER TINUBU,NOW JONATHAN IS DOING THIS SAME THING TO LAGOS.
THIS IS LAGOS THEY HAVE ABOUND LONG AGO,WHAT A WICKED AND HEARTLESS PEOPLE IN PDP,NIGERIANS STAND UP LET KILL THIS MUSTER CALLED PDP COME 2015
It will never be well with your househood you bastard SAMPSON
The truth is that the money Lagos state generate from revenues monthly is more than some state Government Allocation…. Lagos State Government makes huge amount from airport, seaport , taxes and i wonder why the Governor still want to borrow money knowing fully well that he has few years to spend in the office as a Governor…..so it simply means that he want take loan from the World Bank for his future higher political post ambition and keep debt in the office for the next Governor that will take over after him……. We are talking about PDP as a bad party filled up with heartless people,,,,,, But i want us to look into some Action Congress remember and their leaders….. Can the Governor of Lagos state tell us what he want the loan for, because we all know that for years there is nothing like water from the state Government or even electricity and some road are very bad in some local Government……. so what is the Governor doing with all the revenue money and Lagos state allocation.
governor, Mr. Babatunde Fashola (SAN) pls pls people respect you stop making this public how can you say you want to borrow money for road , security and water, With all the money Lagos state generating daily? what about the federal allocations men pls pls pls dont say this agian this is very shameful
Sampson, when making commentary on topical issues like this, one should be objective. PDP has nothing to with this. Go to all ACN controlled states save for Edo, u will weep. I just came back from Ado Ekiti, which is not as big as FESTAC town & all the roads there are not accessible. Fashola is looking for money to steal. The IGR of lagos state is much more than some state allocation from the federal govt. Many businesses has either closed down completetely in Lagos or relocated to Ogun state because of Fashola’s obnoxios tax laws. Lagos has no business borowing money because half of the money will end up in Tinubu, Fashola & their cronies pocket
Well spoken Nigerians. May be he needs the money to pay some GARDENERS he employed to plant TREES and FLOWERS upon the DEMOLITIONS of public HOUSES and MARKET environment.
Little wonder as a lawyer and even as a SAN he couldn’t wine a CASE and so wishes to make use the opportunity as a governor to WINE one?
Well these politicians are all the same but to be fair and candid, if Fashola was a serving PDP governor he won’t be facing such a problem and we all know this, this is Naija for us, Please loot what you generate locally in Lagos ok, Federal government dont want you to loot internationally since everything governance is LOOTING in Naija… I cry for you Nigeria…
Thank you Mr president and the honourable minister for stoping fashola. Lagos state is very rich why would fashola want to borrow money when he is going out 2015 and he is borrowing money in 201,3 2014 he probably wants to use it for campaign so he has to be frustrated. I thank okonja iweala once again for this wonderfull idea but it has to be applicable to most of our state governors.
No! It should only apply to the ACN flagship state! Do not forget that this same Okonjo Iweala is planning tomorrow $10 billion dollars even though Nigeria is earning money from petroleum.
Mrs Iweala and her master are anti Yoruba, PERIOD!
It is all politics, if anyone thinks the amount being generated in Lagos is enough to cater for 20 million people then poverty mentality has arrested your brains. Pls go and look at the budget of the city of New York, not the state of New York and see how much it is, pray go look at the yearly budget of Harvard University and you will know that the money we are talking about here is infinitesimal.
Fashola is too smart for this.Why borrow with all the monies and unending taxes collected in Lagos state.It only air that is not taxed in lagos.
Please lets know the real reason for this loan.2015 I guess.
Babatunde fashola stop fooling yourself everybody in lagos state knows that lagos state gorvernment does not provide water for its citizens. If u don’t know everybody use borehole pls look for a more justified reason to collect the money. This is an old campaign tactise in Nigeria
YES, LAGOS STATE NEEDS THE FUND FOR INFRASTRUCTURES, EDUCATION, AND HEALTH CARE. THE TAXES BEING GENERATED ARE FOR RE-CURING EXPENDITURES. PEOPLE OF THE STATE DEMAND SO MANY THINGS AND THESE THINGS ARE NOT FREE SO THEY HAVE TO PAY FOR THEM BY WAY OF TAXES. LAGOS HAS HUGE POPULATIONS AND THE STATE HAS EXPANDED TO THE RIM (COSMOPOLITAN) IN NATURE.
WHAT IS A 600 MILLION LOAN? IT IS A CHICKEN FEED COMPARE TO WHAT THE CITIZENS ARE YAWING FOR GOOD THINGS. THE LACK OF THIS FUND WILL LEADS INCREASE IN TAXATION (SELF TAX)
OMO BABA FASHY, REDUCED ENTITLEMENTS TO SOME AGENCIES AND WORKERS ALIKE. NO PAIN NO GAIN. FREE ADICE DOES NOT COST YOU A DIME NOR YOUR CITIZENS. GOOD LUCK YA ALL.
Oga fashola, d m200 u alread borrowed where is it ?, and dis money are u investing it on profitable ventures as with d view of repaying, also d intrest, or u want pay wokers and patches some roads? bcs this money u want to borrow it in your tenor, but will not repay it then. So it will happen that lagos state is owing world Bank, this, is’nt good future of d state, so ecconomize and make useful of d money we generate from d state well, not to borrow and spend extravagantly, and invest in flower resources more than human resources,.
Development of the country is not in Jonathan’s agenda,so we are not suprise that he is fustrating the ACN development strides in Lagos State.
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For jonathan let me say that he is antitwest because they are Controlled by CAN. He is a wicked,he is a slow poison, and jealous of the achievement of Fashola.for those of you who says rubish about Fashola,I know most of you are from the East and South south.but the problem I have with most of you is that the states you comes from are worst and your governors are stiinking with corruptions.most of you earn your living in lagos and still open yourt stupid mouth to criticize the best governor in the world. You better be carefull because if Lagosians and the west are pushed to the walls it will not be rosy anymore for you guys in Lagos.
First thing first,provide steady electricity and u wil see tat Nigeria wld better than most dis european countries and not aiming 4 monorail tat can not operate without light.
First thing first,provide steady electricity and u wil see tat Nigeria wld be better than most dis european countries and not aiming 4 monorail tat can not operate without light.
God is watching all the politician in this geographical expression one day you will account for what you are doing.
WHY LOOKING FOR PEANUT LOAN WHICH BOLA TINUBU CAN PAY.