In reacting to the Peoples Democratic Party (PDP) recent statement on the plan by the President Muhammadu Buhari administration to obtain a $5.5 billion foreign loan, the All Progressives Congress (APC) urges the PDP to wake up to new realities that the days of borrowing to pay salaries and fund bogus projects are long gone.
In developing economies, governments typically resort to borrowing to finance economic development projects because taxation and other revenue streams may not necessarily provide sufficient funds for economic development. The recent borrowing plans proposed by the President Buhari administration is no different as the President has clearly stated in his request to the National Assembly that the loan will be used to finance the 2017 budget deficit and invest in critical and verifiable infrastructure project which will ultimately grow the economy.

The PDP in its statement unapologetically claimed that it “meritoriously” governed the country for 16 years and “handed over a buoyant economy to the APC in 2015’’. Really, what could be further from the truth? The APC considers the claim a new height of PDP’s insensitivity to the populace and has further exposed the PDP as a Party unrepentant for the rot it left the country after its 16 years rule.

Even when crude sold above $100, the immediate-past PDP-led administration struggled to build savings. In addition, the excess crude account was misspent. Poor capital expenditure meant badly-needed infrastructure development was put on hold. This forced construction companies with government contracts to cut back and sack thousands of workers.



Read more https://barometerng.com/apc-to-pdp-days-of-borrowing-for-salaries-bogus-projects-long-gone/

I didn't even read this post.. APC / PDP DISCOURAGED MY SPIRIT

Thrash!!

Direct punch

A party that cannot manage in house process like Anambra primary still open mouth without shame.

A party who budgeted billions for road construction but only construct their bank account with the money. Today they cry, all roads are bad Buhari is focusing on the North. What did you do for,16 years in govt.smh

Freetech:
Direct punch

A party that cannot manage in house process like Anambra primary still open mouth without shame.

A party who budgeted billions for road construction but only construct their bank account with the money. Today they cry, all roads are bad Buhari is focusing on the North. What did you do for,16 years in govt.smh

A party that can't manage presidency nor NASS even Aso Rock clinic sef is the worst in our history. ApC is so so shameless borrowing left and right for everything from salaries to sacks yet, nothing to show!
God save us from this apc calamity!

All these deluded PDP / Ipob / Igbo fan club seem to have forgotten Jonathan Ebele, the finance fat woman with the big cheek warned us to get ready to soak Garri when crude was sold for $100 per barrel. Only God knows wat Jonathan will tell us if crude went as low as $20 yet Buhari was still bailing out states.

Buhari again paid salaries Jonathan / PDP could not pay when crude oil sold for $100 with crude selling at about $20. Yet some deluded Igbotic idiots tell me to vote him out come 2019 so that PDP can continue the plundering of the treasury because of their unwarranted hate for Buhari. Mad sick people everywhere.

https://www.premiumtimesng.com/business/171145-brace-tougher-times-ahead-okonjo-iweala-tells-nigerians.html/amp

True that.


Only that the salaries are still being owed, and we are now in the era of shielding of treasury looters, murderous herdsmen, and award of scam contracts.


Lets not go into military taking over the duties of the police.

Chibudollar:
I didn't even read this post.. APC / PDP DISCOURAGED MY SPIRIT

I didnt read it, either. I already know it's another scam.

Another APC scam. After chopping with PDP government for 16 years...abeg spare my ears your balderdash

Even if Man forgets.. .The Internet does not

Shawnnn01:
All these deluded PDP / Ipob / Igbo fan club seem to have forgotten Jonathan Ebele, the finance fat woman with the big cheek warned us to get ready to soak Garri when crude was sold for $100 per barrel. Only God knows wat Jonathan will tell us if crude went as low as $20 yet Buhari was still bailing out states.

Buhari again paid salaries Jonathan / PDP could not pay when crude oil sold for $100 with crude selling at about $20. Yet some deluded Igbotic idiots tell me to vote him out come 2019 so that PDP can continue the plundering of the treasury because of their unwarranted hate for Buhari. Mad sick people everywhere.

https://www.premiumtimesng.com/business/171145-brace-tougher-times-ahead-okonjo-iweala-tells-nigerians.html/amp

And yes you forgot the exchange rate for the dollar then...

You forgot that suddenly over 5 million Nigerians are out of jobs and Buhari just added 30,000 Intels employees due Atiku conflict...

APC forgets we were at an advanced stage of assembling if not building our own cars locally.... Shunning importation... Until this goslow government came...

Peradventure APC forgot so soon that life was far better under PDP but that ethnic and religious politics were employed to ruin our national progress...

Maybe APC forgot that the Lagos Ibadan expressway has remained abandoned under their redundant presidency

Do I need to remind APC that the Lagos rail project even moved faster under PDP presidency than under the APC go-slow government

Must we remind APC of their 99.9% unfulfilled campaign promises?

PDP = corruption, APC = go slow, 3yrs gone apc is still fighting corruption yet ve not being able to prosecute, sentence nd jailed just one person. i ve never seen a party that is as deceptive as the APC i faught for in 2015.

NgcoboP:

And yes you forgot the exchange rate for the dollar then...

All the.mumbo jumbo you wrote below does it negate the fact that PDP borrowed to pay basic salary of it's workers ? How long do you expect us to do that before we crumble ?

Shawnnn01:
All the.mumbo jumbo you wrote below does it negate the fact that PDP borrowed to pay basic salary of it's workers ? How long do you expect us to do that before we crumble ?

Hocus pocus

The unfortunate thing with APC borrowing is that they loot the funds in a brazen annoying manner being the sinless saints that they claim to be unlike PDP that looted but there were some level of development.

If a barrel of oil is sold for $100 @ 150 = N15,000
Then a barrel of oil sold for $52 @ 365 = N18,975, same exported number of barrels or even more with the lifeline given to Nigeria

Fellow Nigerians remove the log from your eyes..

crude oil at $100/150, we had subsidy and fuel at N80, food prices were fair and minimum wage raised to N18,000.employment was at its boom and new companies and ideas springing up.

Electricity was affordable and your salary could take you home...
Since the bulk has been passed to the populace to generate income through taxes, all sorts of bank debits and all other corrupt revenue gaps blocked through TSA, ban on most imported goods, closure of land borders. we cant seem to understand where our monies are.