Under config.php I have:
$config[\'log_threshold\'] = 4;
$config[\'log_path\'] = \'/home/myaccount/logFilesFolder\';
In index.php
I have tried a lot of solutions and finally what worked for me was this:
Open system/libraries/Log.php and change the following lines; set the value of: $this->log_path to a writable directory, preferably home directory so that there are no permission issues. If you want to change the filename also, search for the variable $filepath and change the name. Example: $this->log_path = '/log'; touch /log/ restart the webserver. The logs will start coming.
I have tried a lot of other options, none worked, this is not neat approach but at least I can see my logs now.