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Osinbajo Seeks Senate's Approval For $1.5 Billion Loan - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Osinbajo Seeks Senate's Approval For $1.5 Billion Loan (14762 Views)

Buhari Appoints 41 Non-Career & 1 Career Ambassadors, Seeks Senate's Approval / FG Seeks Senate Permission To Pay Kogi State N10.69 Billion / Buhari Seeks Senate's Approval For $5.5bn Foreign Loan (2) (3) (4)

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Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by Kyase(m): 4:01pm On Jun 06, 2017
ZombieTERROR:
See mouth like chicken change sad
lol wetin i do na bros
Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by Nobody: 4:02pm On Jun 06, 2017
hmm oga wan go buy house fr dubai
Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by aolawale025: 4:04pm On Jun 06, 2017
Has anyone seen what projects were executed with the previous loans? The senate have to go the path of patriotism by turning down this request. Seems like preparation for election funds

1 Like

Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by dkronicle(m): 4:04pm On Jun 06, 2017
Jesus i never knew that there was a plan called borrowing plan. we need Heaven intervention.

2 Likes

Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by Nobody: 4:04pm On Jun 06, 2017
Kyase:
na chicken change be that, what will you say abt the US, that has a debt of 18 trillion dollars and still counting, even Ghana are more indebted
America's debt is internal.
Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by Austinoiz(m): 4:05pm On Jun 06, 2017
Ds coordinator don dey overborrow ooo...hmmmm
Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by Kyase(m): 4:06pm On Jun 06, 2017
blueseacats:
America's debt is internal.
nope, do more search and see, they followed by the UK in 8 trillion or so, i think
Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by vantage001: 4:07pm On Jun 06, 2017
Rubbish.
Tell the old incompetent afonja to borrow the money from tinubu.
no ne only loan.
Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by do4luv14(m): 4:08pm On Jun 06, 2017
new2020:
Haha...wetin? another loan again? We were discussing earlier this morning on 7 trillion Naira debt incurred by Buhari's govertnment in barely 2 yrs. Now, they want to borrow nearly 1/3 of the debt. What is all this money used for? APC has finished us. Just divide this country!

ah tell you they wan finish us patapata,
what abot all those loot recovered Chaiii
Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by kizygist: 4:08pm On Jun 06, 2017
What is he using the money for? Stanbic IBTC Bank Recruitment 2017 For Graduate Entry Level – Apply Now
http://trendyupdates.com.ng/stanbic-ibtc-bank-recruitment-2017-graduate-entry-level-apply-now/
Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by Nobody: 4:12pm On Jun 06, 2017
new2020:
Haha...wetin? another loan again? We were discussing earlier this morning on 7 trillion Naira debt incurred by Buhari's govertnment in barely 2 yrs. Now, they want to borrow nearly 1/3 of the debt. What is all this money used for? APC has finished us. Just divide this country!

Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by Nobody: 4:13pm On Jun 06, 2017
Kyase:
nope, do more search and see, they followed by the UK in 8 trillion or so, i think
They borrowed mostly from themselves, but either way. Debt is debt.

2 Likes

Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by UncleJJ(m): 4:15pm On Jun 06, 2017
blueseacats:
America's debt is internal.

You don't know what your talking about
http://money.cnn.com/2017/01/19/investing/china-sells-us-debt-japan-russia/index.html
China still dumping U.S. debt -- and so is Japan. But Russia is buying

Using inflation to erode the US public debt
https://doi.org/10.1016/j.jmacro.2011.09.001
It suggests that when economic growth is stalled, the US debt overhang may induce an increase in inflation of about 5% for several years that could significantly reduce the debt ratio.

Their is no clear theory that say one is better than the other in this case. The US dollar gives America an unfair advantage over any other nation - it can borrow till eternity. As long as the USD remains the belle of the ball. So the US can stabilize it's economy by borrowing what it needs to bring down interest rates, finance wars, social programs, IPO's etc.

Nigeria on the other hand has a shortage of Foreign currency, and at the moment our coffers are not buoyant neither is our IGR sufficient to finance our programs - so how do we get cash to jump start the economy like the US does every time their is a financial crisis ?

Remember we did as well, that is spending to sustain our economy like the American's when Sanusi was defending the Naira during the last financial crisis. Nigeria did not feel a pinch. Now we don't have that kind of money to defend the Naira and at the same time - inject funds into the economy to bring homeostasis to the economy.

Borrowing is the key. It will inject dollars into the economy which we can convert to Naira and triple the cash flow in the system. This loan will serve like propane gas for the economy - it will stimulate production. It does not matter where the money is spent as long as it is serves for production and sustained payment of wages.

1 Like

Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by depremore: 4:15pm On Jun 06, 2017
oga we are not talking about others we are talking about our own country.i think that loan of a thing is becoming too much they should make pragmatic use of the one they have borrowed so far

1 Like

Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by Kyase(m): 4:15pm On Jun 06, 2017
blueseacats:
They borrowed mostly from themselves, but either way. Debt is debt.
gbam, end of story

1 Like

Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by Kyase(m): 4:16pm On Jun 06, 2017
UncleJJ:


You don't know what your talking about
http://money.cnn.com/2017/01/19/investing/china-sells-us-debt-japan-russia/index.html
gbam
Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by MARSONE: 4:22pm On Jun 06, 2017
When I talk about youthful take over of this country people say I am day dreaming or having a nightmare. See our country. Youths let's rise up now or remain silent for ever. How long do we see this visionless men steal our collective future including that of our children ?

1 Like

Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by Nobody: 4:23pm On Jun 06, 2017
UncleJJ:


You don't know what your talking about
http://money.cnn.com/2017/01/19/investing/china-sells-us-debt-japan-russia/index.html
U.S. Did not directly borrow money from them, it's just Chinese government exposure to USA bonds and treasure bills, which is dangerous ( debt) cause USA been borrowing against those bonds and treasuries through social security and other pension funds and China's holding is less than 10%

2 Likes

Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by aprokomania(m): 4:25pm On Jun 06, 2017
A BREAKDOWN OF THE LOAN SHOWS THAT IT IS BEING REQUESTED BY STATE GOVERNORS. SOME PEOPLE JUST COMMENT WITHOUT BOTHERING TO FIND OUT DETAILS. IF YOU ARE WORRIED ABOUT THE HUGE LOANS, ASK THE GOVERNORS OF THESE STATES.

Kaduna and Ogun are seeking $350 million each from the World Bank.

While Ebonyi and Abia are seeking $70 million $100 million respectively from the Africa Development Bank (AfDB).

Also, Katsina is seeking $110 million, Jigawa, $32.4 million, Ebonyi, $80 million, and Kano, $200 million, all from the Islamic Development Bank.

Enugu, Kano, Plateau and Ondo are together seeking a sum of N200 million from French Development Agency.

1 Like

Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by GuntersChain(m): 4:26pm On Jun 06, 2017
Ok

Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by baralatie(m): 4:31pm On Jun 06, 2017
aprokomania:
A BREAKDOWN OF THE LOAN SHOWS THAT IT IS BEING REQUESTED BY STATE GOVERNORS. SOME PEOPLE JUST COMMENT WITHOUT BOTHERING TO FIND OUT DETAILS. IF YOU ARE WORRIED ABOUT THE HUGE LOANS, ASK THE GOVERNORS OF THESE STATES.

Kaduna and Ogun are seeking $350 million each from the World Bank.

While Ebonyi and Abia are seeking $70 million $100 million respectively from the Africa Development Bank (AfDB).

Also, Katsina is seeking $110 million, Jigawa, $32.4 million, Ebonyi, $80 million, and Kano, $200 million, all from the Islamic Development Bank.

Enugu, Kano, Plateau and Ondo are together seeking a sum of N200 million from French Development Agency.
lol these states want to finally dry their allocations

1 Like

Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by Nobody: 4:32pm On Jun 06, 2017
Even if Osinbajo means well and can be relied upon. What about the ministries and contractors that will utilize the loan?
Any systemic structure for "forensic" accountability? undecided

1 Like

Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by joinnow: 4:33pm On Jun 06, 2017
Nawaoo
Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by UncleJJ(m): 4:35pm On Jun 06, 2017
blueseacats:
U.S. Did not directly borrow money from them, it's just Chinese government exposure to USA bonds and treasure bills, which is dangerous ( debt) cause USA been borrowing against those bonds and treasuries through social security and other pension funds and China's holding is less than 10%

It does not matter how China got hold of this debt. What matters is that China is the single largest holder of US debt outside it's shores.

See my first post. I have added more information.
Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by UncleJJ(m): 4:42pm On Jun 06, 2017
aprokomania:
A BREAKDOWN OF THE LOAN SHOWS THAT IT IS BEING REQUESTED BY STATE GOVERNORS. SOME PEOPLE JUST COMMENT WITHOUT BOTHERING TO FIND OUT DETAILS. IF YOU ARE WORRIED ABOUT THE HUGE LOANS, ASK THE GOVERNORS OF THESE STATES.

Kaduna and Ogun are seeking $350 million each from the World Bank.

While Ebonyi and Abia are seeking $70 million $100 million respectively from the Africa Development Bank (AfDB).

Also, Katsina is seeking $110 million, Jigawa, $32.4 million, Ebonyi, $80 million, and Kano, $200 million, all from the Islamic Development Bank.

Enugu, Kano, Plateau and Ondo are together seeking a sum of N200 million from French Development Agency.

Like I have said, their is nothing wrong with borrowing. However, the goal must be achieved - i.e what the money is meant for.

The government needs to force these states to provide unfettered access to the public on the application of these monies. What are they been spent on and how far have these projects been carried out. They need to be monitored and hence each state should set up a website which monthly provides a breakdown of the ongoing project. We need complete transparency - this will ensure the money is used for what is was given for.

We cannot reject the loan because we think the money will be embezzled.
Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by SKANKHUNT: 4:43pm On Jun 06, 2017
God punish your fada. Win your money dey jejely on ur lane. Are you that kind or is it by force to help people?
Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by ema2017: 4:48pm On Jun 06, 2017
This Govt keep plaguing us into deeper debt with nothing to show for it.They have mortgage the future Generation. The APC have destroy this country and has cause untold hardship on the citizen. the country should just disintegrate so Nigeria will cease to exist

1 Like

Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by Nobody: 4:48pm On Jun 06, 2017
So the next government will face debts challenges. APC and Aso Vila cabals wants to use $1.5 billion for 2019 campaigns and to settle Buhari's medical bills in London hospital/economy


And they will start blaming the then PDP members and GEJ for their cluelessness.

3 Likes

Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by emi14: 4:52pm On Jun 06, 2017
Oji $1.5b eme gini? Oji ya eme gini?
Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by Paperwhite(m): 4:55pm On Jun 06, 2017
Just imagine this crooked APC government undecided.What now becomes of the IGR,Savings from the TSA,recovered/relooted funds? Corruption already have a new defination with this government.

3 Likes

Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by malachytochukwu(m): 4:55pm On Jun 06, 2017
The only plan that gets executed by this government is borrowing plan. Nobody cares about the future of anybody.
AbiolaFawole:


https://www.google.com.ng/amp/www.premiumtimesng.com/news/headlines/233189-breaking-osinbajo-seeks-senate-approval-for-1-5-billion-loan.html/amp

2 Likes

Re: Osinbajo Seeks Senate's Approval For $1.5 Billion Loan by UncleJJ(m): 4:59pm On Jun 06, 2017
Jolar101:
So the next government will face debts challenges. APC and Aso Vila cabals wants to use $1.5 billion for 2019 campaigns?


And they will start blaming the then PDP members and GEJ for their cluelessness.

This is fatalistic thinking. I have a question. When you walk into a bank to borrow money to start a business does a bank borrow you money based on your inability to pay or ability to pay.

You don't understand this issue and perhaps you need to study nations and their debt or conglomerates and their debt. Why debt is one of major sources of finance (capital) for countries and companies.

Debt/loan is meant for expansion , when a nation expands or country expands it increase in values and grows - hence it ability to pay debt increase and infact surpasses it's current debt. In accounting this debt/loan is a double entry - one entry increases current liability [/b]and the other increase [b]current assets/working capital.

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