Sentences with phrase «white elephant projects»

The authors go on to illustrate that the remaining 20 cents of loan monies are used to finance white elephant projects, «ghost» projects» (i.e. fictitious roads, schools, soldiers, etc.), government salaries, ineffective development and infrastructural projects or it leaves the country through capital flight within the coming years — leaving little to nothing of actual development monies for the citizenry of these countries.

Besides inflating the largest real estate bubble in world history, this massive infusion of debt also financed many white elephant projects, such as useless infrastructure and excess steel, automobile, and cement factories.

Nkrumah was building industries, he wanted Ghana to become self - reliant, some of the same accusations that he was driving Ghana into debt, that Akosombo was unnecessary, that he was busy doing white elephant projects, and all that.

While Fayemi spent the bond money for infrastructure development of the state, including major roads, street lightening, school renovation, government lodge / office, a civic centre, the Ikogosi warm spring resort and Ire Burnt Bricks Company, among others; Fayose had opted for white elephant projects including an airport and a flyover.

In a statement on Monday, the state APC Publicity Secretary, Taiwo Olatunbosun, accused the governor of spending the borrowed money on white elephant projects awarded to companies belonging to his cronies for personal benefits.

He built the motorway between Accra and Tema, and it was called a white elephant project because at that time, the number of cars using it were very few.

With good roads, anybody from Ogun state and Oyo state can get to MMA under 1 hr.So why the white elephant project?

«Fayose will surely account and pay back every penny he and his family took from Ekiti coffers through his white elephant projects, and for the first time, he will know that Ekiti people are no fools that he calls them.»