Aufbauh:
Honestly i don't know how some people reason.
Same people that will criticize the government about poor infrastructures and lack of opportunities are same people oppose to Govt borrowing to solve same problem.

I've look critically into this and discover that most of those critics are just being mischievous and angry that they're not the one in power to spend the money.

Meanwhile Saraki should be kicking in his oblivion for being upturned in all directions.

The loan collected in past what has been done with it?

Taking loans is not bad, it is bad when it is shared amongst greedy politicians.

Aufbauh:
Honestly i don't know how some people reason.
Same people that will criticize the government about poor infrastructures and lack of opportunities are same people oppose to Govt borrowing to solve same problem.

I've look critically into this and discover that most of those critics are just being mischievous and angry that they're not the one in power to spend the money.

Meanwhile Saraki should be kicking in his oblivion for being upturned in all directions.

Typical ZOMBIE.
One of Buhari's anus lickers

Gforce2015:
All these prodigal sons and daughters in the helms of affairs still want to collect loan. Don't worry , there will be a time that you will used all your liability and asset in this country to collect a loan. I'm serious looking for visa to jApa to develop country. May God help me

They want to borrow to share among themselves.
They know that Nigeria is coming to an end.

They know that Oyibo colonial master can't continue to hold one and impossible country, Nigeria, for long anymore.
If not, what would make the present leaders want to mortgage the future of unborn generations with huge debts like this?

Aufbauh:
Honestly i don't know how some people reason.
Same people that will criticize the government about poor infrastructures and lack of opportunities are same people oppose to Govt borrowing to solve same problem.

I've look critically into this and discover that most of those critics are just being mischievous and angry that they're not the one in power to spend the money.

Meanwhile Saraki should be kicking in his oblivion for being upturned in all directions.

There is no need to be emotional

What is your reasoning?
The issue is the ABILITY TO PAY

If a person is suffering from clinical starvation you do not solve the problem by eating a whole pig in one day.


When you borrow you start paying back practically immediately

It is called servicing

We are using about 30% of revenue to service debt if we borrow this it will go up to 50%

What happens if the price of oil crashes it could go to 70%

We are talking of $$$ borrowing

What are our sources of $$$ any shock there and we could see exchange rate of 5000: 1

Then we will be in trouble

The fact is borrowing goes to fund THE WHOLE BUDGET

NOT JUST INFRASTRUCTURE


We cannot pretend about that and there are elements in the budget that are problematic

for example petrol subsidy

If we borrow this money and get into trouble we will be MADE TO SCRAP it

So we should scrap it FIRST and reduce other wasteful expenditure

Next we should build infrastructure at a slow and steady pace

Yes we should norrow but let us debate

WHat percentage of revenue is TOO MUCH for debt servicing

That is how to reason. Ask questions and answer then not emotional outbursts talking about how " PEOPLE REASON"

How do YOU REASON

Borrow at any cost

In case you have not noticed there is a Jihad raging across West Africa. It is growing and will cost plenty of money for the foreseeable future

Aufbauh:
Honestly i don't know how some people reason.
Same people that will criticize the government about poor infrastructures and lack of opportunities are same people oppose to Govt borrowing to solve same problem.

I've look critically into this and discover that most of those critics are just being mischievous and angry that they're not the one in power to spend the money.

Meanwhile Saraki should be kicking in his oblivion for being upturned in all directions.

What are they borrowing oga, these guys are milking the country. Nigeria makes enough money to cater for the country and where borrowing is involved, it need to be transparent and accountable but no, everything is shrouded in secrecy... This government is too expensive

Fool! Who are you to decide? You are a single entity Mr. Senator, unless the executive have passed through the back door. Well, we stil know they will approved it bunch of foolish people.

Future. Sold. Delivered

You don't have an option

Legislation is in the palm of the executive.

Zombie has no option

Zombie has no option..

rafyena:

my gee
i feel like following you now

Bros... You got my blessing! You're very welcome!

Let the craziness begin!

one day I will become Nigeria president and I will make everything right for the masses have my word.

Rubber stamp senate president. Major General MB yes man

Aufbauh:


Sorry, you sound very aggrieved to reason critically. With this anger and bitterness in between the lines of your statement it will be extremely difficult to see any good thing in this government.

Unfortunately i can't help your situation either.

you are indeed a compound fool sir!! I even thought you were going to defend the issues he raised intelligently! I never knew you are one of the wholesale idiots on this forum! smh

The Senate is a disgrace for approving the loan requests. It is simply a case of the blind leading the blind. What do they even know?

Buhari has proven not to be a good manager of resources. The disparity of 50 to 55 naira between the official rate of 305 and the export-import rate of 360 has been condemned by many economists most notably Lamido Sanusi.

Imagine if the 3 tiers of government received $20bn in revenues from oil exports for instance. It will be exchanged at N305 rather than 360. That means the government is losing 20Bn x 55 = 1.1trillion. Lamido Sanusi has urged the government to allow the 2 rates merge as it is a conduit for roundtripping and corruption. All na story to the gods for Buhari. That 1.1trillion equates to $3bn. That means the government might be throwing as much as $3bn away annually!

You now want to borrow $29bn despite gross imprudence with what you already have. Apart from the disparity in exchange rates as an example of waste, you are also pouring money into financial black holes such as Ajaokuta steel, the refineries, on fuel subsidies and on an over-bloated civil service which you refused to slim down and who are now demanding a new minimum wage.

Aufbauh:
Honestly i don't know how some people reason.
Same people that will criticize the government about poor infrastructures and lack of opportunities are same people oppose to Govt borrowing to solve same problem.

I've look critically into this and discover that most of those critics are just being mischievous and angry that they're not the one in power to spend the money.

Meanwhile Saraki should be kicking in his oblivion for being upturned in all directions.

I will keep a tap on this and I will remind u later

clarocuzioo:



Oga first and foremost theres nothing like critically looking into the matter, if you do you won't come up with this assertion.

Ever since this confused administration came in, it has been loan, loan tax and tax.


Firstly the heavy funds they borrowed in the first term, what did they do with it? There is total infrastructural decay all over the nation. Look at all the federal roads, they are in a mess.

They implemented TSA, telling us they are saving trillions of Naira everyday, they block the borders, customs said it generates over #80B daily ever since closesure of borders, they introduced duty stamp, introduced collection of #50 for every POS transaction, now increased Vat from 5 to 7.5%
Collection of #10k for every deposit or withdrawal above #500k, taxing everything taxable.

Increase petrol from #85 to #145, dollar move from #180 to #360 today.

Recovered billions from corrupt politicians and public office holders, even from Abacha loot.

Yet he has absolutely nothing to show for it.

No sensible society will continue like this because it is simply a highway to disaster.

God bless you immensely

Hmmm

Zombie Senate president

Aufbauh:
Honestly i don't know how some people reason.
Same people that will criticize the government about poor infrastructures and lack of opportunities are same people oppose to Govt borrowing to solve same problem.

I've look critically into this and discover that most of those critics are just being mischievous and angry that they're not the one in power to spend the money.

Meanwhile Saraki should be kicking in his oblivion for being upturned in all directions.

Where you in the grave when the world bank gave a warning about the borrowing of Nigeria getting too much

What's the reason of various taxes and levies forced on Nigerians

The earlier borrowed monies, what's the outcome in infrastructure you wail about

May your life turn out to be the way buhari is running Nigeria

He’s absolutely right Bro. If you’re not embittered about the current state of the nation and the befuddled government. You have a very serious problem.

Who in their right senses supports this borrowing knowing fully well, nothing, absolutely nothing can be achieved with it. Imminent misappropriation looms.

Bunch of scandals calling themselves leaders.

Rip to this country.

Aufbauh:


Sorry, you sound very aggrieved to reason critically. With this anger and bitterness in between the lines of your statement it will be extremely difficult to see any good thing in this government.

Unfortunately i can't help your situation either.

Increase the Loan Request to $1 Trillion and Pass It immediately, my friends. Ha Ha

No mind the idiot I beg.

Maybe he’s benefiting from the government. We never can tell.

lereinter:


Where you in the grave when the world bank gave a warning about the borrowing of Nigeria getting too much

What's the reason of various taxes and levies forced on Nigerians

The earlier borrowed monies, what's the outcome in infrastructure you wail about

May your life turn out to be the way buhari is running Nigeria

29.9 billion dollars plus the other humongous debts we are already owing.

My God
I am flabbergasted.

Aufbauh:
Some people are online here opposing Senate decision as if they are not the ones that voted in their respective senator.

If you're angry, instead of venting your anger on the Senate president go to your constituency and slap your senator.

Shut Up there Yoruba Muslim
Aren't you ashamed of yourself
All the borrowing Buhari did.... How has it impacted you...
Spits..

clarocuzioo:



I was expecting you to counter my motion with facts and figures, but just like your dullard who is the president, you don't understand facts and figures, rather you resort to calling names, telling me am aggressive.

I only showed you facts with figures, please counter me with facts and figures and stop showing you are intellectually empty and a zombie.

I read your first post n thought you had something but this your next post just made no sense of your earlier post n someone else will see it as a post you made just because you hate Buhari n not because you love the progress of the country.

Too bad

Rubber stamp senate president and his puppet master want to borrow the future of unborn Nigerians

CSTR2:
29.9 billion dollars plus the other humongous debts we are already owing.

My God
I am flabbergasted.

Buhari destiny is to bankrupt and wreck the country... While devilish zombies cheer him on

Cc aufbauf

until there is death penalty for embezzlement, misappropriation and corruptio , nigeria would nevdr get infrastructural development right. now take this to the CBN.