Hmmmn. This okonja iweala na her lips she dey use chop the money abi wetin cos her lips na sumfin else.

oh my... i'm asian and i don't know much about africa. but if nigeria has to borrow, imagina what will happen of smaller and poorer countries like Malawi, Lesotho and Swaziland. imagine human life in those countries.

[quote author=eko ileee]

Ode, we don't borrow money to embezzle and fund recurrent expenditure and our recurrent and capital expenditure are not upside down like your crooked masters.


The dumb clowns are making billions of dollars in oil profit and they are still borrowing left and right.

What responsible government budgets 82% recurrent expenditure and 18 capital expenditure? Are we even surprised they are borrowing everyday?

so what exactly have you done with all the money you borrowed? turn lagos to eldorado? abegi lets be factual for once, i am no fan of GEJ but trying to paint fashola as better than him is pure rubbish. truth is open your eyes wide and you will clearly see that they are one and the same, Fashola only appears to be more creative in his fraudulent ways. simple. N30 billion naira internally generated revenue monthly plus federal allocation plus huge debt equals to what? tolls every where, very expensive education system, how many people still send their children to public schools in lagos state? what about health facilities? ok what about the roads despite the tolls? how many hosuing units have been built by saint fashola in the last six years. What about the agbero menace? exactly how many graduates have been employed? what development has this administration brught to lagos? even BRT buses are now molues. feudalism at its best is being praticed and we shout Fashola fashola fashola like Idiots. i am a full blooded lagos indigene and i dont understand why only atohunriwas, people from far places like kwara, ibadan and all other wanna bes lagosians shout fashola's name to high heavens. we the indigenes can see beyond our noses. jakande was a governor for 4 years we saw his impact. Thank you.

Baba_Eleko: Believe u me fellow Nigerians, only 7billy out of the 47billies will make it it's way into some never to be completed project. I weep for our cun3.

Very true

I DONT GET THIS
1ST WE WENT LOOKING FOR DEBT RELIEF
ONLY TO COLLECT MORE DEBTS A FEW YEARS LATER
BY THE SAME ADVOCATE(S) FOR THE DEBT RELIEF

eGuerrilla:

Nigeria's foreign debt is expected to rise exponentially in the next two years




Read Nore

Nigeria is heading into the abyss with this set of lootocrats in govt


We must decide by 2015 to change or be doomed for eternity

taharqa2: SHUT ya Hypocritic mouth tha, @OP. The State with by far d highest burden of Loans in d country is Lagos, and it is still borrowing. When the FG tried discouraging the Lagos state from borrowing $600m last yr, you and yr fellow Hypocritical clowns were shouting blue murder, asking d FG to approve it. So shut that trap you call yr mouth, and stop seeing everytin as an opportunity to do Propaganda- like you really cared about the Economy..... By d way, I dont think this loan is a 'new' one per say; it apparently is part of those approved in d Middle-term Borrowing Plan documentd already passed by d NA..

And where is this goon coming from,FG domestic debt stands at N2.7tr with N1.2tr coming from GEJ first 12 months in office.

I DONT GET THIS
1ST WE WENT LOOKING FOR DEBT RELIEF
ONLY TO COLLECT MORE DEBTS A FEW YEARS LATER
BY THE SAME ADVOCATE(S) FOR THE DEBT RELIEF



Who told u dat we received debt relief. Our debt was simply re-financed, with us paying back d so called relieved debt from d increased interest rate from future debt. Why do u think dat d DMO are saying dat we should borrow more.

What else do you expect from a woman who hold a Phd in international borrowing,continuous borrowing of course.

Evidence of a failed state. Keep borrowing until you become another grecce,then i will see how you will keep centrifugal forces at bay.

I dont understand jonathan governance atal..........
2011 is reduced/removed fuel subsidy saying that it was done to generate revenue and pay up some dept.
It was revealed during that week of protest the trillion Nigeria make dialy.
Also i will ask this mr. president....... Did he tell Nigerians when he submitted this year budget that there is no money to execute the projects he layed.Perharps, last year projects and the money generated for it was not halfly completed nor executed. And lots alots of such asuch money concealed by his ill-hearted corrupted hell demanding soul and system of governing.
I am always sadddddd when it comes to Nigeria issues in which her Bad news are numerous and real but good news are very few doubtful and even not real. I dont understand jonathan governance atal..........
2011 is reduced/removed fuel subsidy saying that it was done to generate revenue and pay up some dept.
It was revealed during that week of protest the trillion Nigeria make dialy.
Also i will ask this mr. president....... Did he tell Nigerians when he submitted this year budget that there is no money to execute the projects he layed.Perharps, last year projects and the money generated for it was not halfly completed nor executed. And lots alots of such asuch money concealed by his ill-hearted corrupted hell demanding soul and system of governing.
I am always sadddddd when it comes to Nigeria issues in which her Bad news are numerous and real but good news are very few doubtful and even not real.

Why?.....
Honestly if I were the borrowers, I would demand certain precedences before they get the money, like a commitance to see their ridiculous politician take-homes reduced.

They are borrowing money to use to build a N4bn building for Patience Jonathan.

Majority of you and your future children will keep paying it back for years to come while Patience will be enjoying her loot from the inflated contracts.

Up GEJ!

SLIDE waxie: We don suffer!

U knw, SIA, the govnr of Ogun state really amazes me wen he said he didn't borrow a dime with all d projects ongoing. And the govt was even payin off the debt of the previous administration.

U see, he reiterated dt u jes need to cut the cost of running ur govt, and d proper remittance of taxes! Isn't dt cool for someone who is a chartered accountant and applyin his profession in governance?

The same thing we see in fashola and aregbesola. We saw in donald duke also.

Better than d clueless president and his cabinet

Do not put Donald duke in the category of good managers of meagre resources. Cross river has a debt of approximately 600 billion naira which was incurred on the white elephant project ,tinapa. The same amount of debt as Lagos.that is close to 4 times the annual budget. Lagos debt is within manageable limits and can be easily paid down.generation to come will continue paying the interest on those tinapa loans .

J12:

Your trolling is getting out of hand. Where in the article was it stated that the loans would used to fund recurrent expenditure?

Do you know the meaning of economic governance reform program? Have you asked yourself and have you looked up the meaning.?

It's a common jargon for a silly money fleeing scheme. Even if its a real government program, do you have to borrow just to finance a pesky government program that could be handled in a lot of departments inside the economic ministers ministry.

Back to your original question, yes its a recurrent expenditure since its purely a government program and not any kind of capital project. Reading is fundamental.

Will the billions complete that east - west road before 2015?

Garri the 1st: The only SPECIFIC project mentioned is the East-West Road. I therefore wonder if the all the N47 billion to be borrowed is for that road...

I hope this isn't fund-raising for 2015 election....

Spot ON. u said it all

bloggernaija:

Do not put Donald duke in the category of good managers of meagre resources. Cross river has a debt of approximately 600 billion naira which was incurred on the white elephant project ,tinapa. The same amount of debt as Lagos.that is close to 4 times the annual budget. Lagos debt is within manageable limits and can be easily paid down.generation to come will continue paying the interest on those tinapa loans .

Donald Duke could not add one plus one together.... all he wanted to do was put his name in the history books as the father of Tinapa.... he never sat back once and thought Tinapa could be achieved in stages or phased approach

Now the debt is rising and Tinapa is decaying and lying fallow......what a crying shame.....