Nigeria public debt is in billion dollars not trillion dollars. That quotation has to b a mistake from the ops

fergie001:


https://www.thecable.ng/in-full-1-25bn-for-abuja-rail-500m-for-nta-buharis-22-7bn-loan-spending-plan/amp

You did be a fool to believe they will really spend the money on these projects.

All the previous monies that have been borrowed by this govt, where have they spent it on? What project can we say was done with the monies?

Gazzy88:
One thing I hate about you lots is pride and bragging. The day when sense fall on all of you that looking rich is different from being rich is the day you will stop bragging. You're doing well which nobody has doubted but coming online telling us others are not doing well but you, it's called self-deceit.

Pride won't grant you your self-determination you've seeking if you fail to work together with your neighbors without boasting. Your region isn't doing well than others. GDP don't lie...

When they leave their poor towns and villages to feed on your fertile land, on your economy and on your tolerant spirit, but still pump their poor and shallow chest that they are better than you.

I wonder why they leave their poor villages to look for their daily bread in the hands of the people they say they are better than.

They are poor comedians, just laugh at their jokes and move on.

Lagosfinder:
South east not considered at all

Would you open a bank account in a distressed bank ? Even if you do, you wont fund the account. That's the signal coming out of the east,the region is not predictable as some are still calling for war.

What's your problem with our pride? How does the pride of an Igbo man bothers you? Yes we Igbo's are naturally proud of ourselves , we are boastful and stubborn we boast of our achievment and we don't envy anyone, every region is doing fine, then why get angry if we Igbo's boast of our own? You all have tried to weaken us and turn us to beggars, knowing well an igbo man doesn't beg anyone , what haven't you people done ? You united and fought us in a civil war, killed 3 million of our people, destroyed every structure that was in south east , divided our people and gave to south south , but still all these hasn't weaken the Igbo man, we are doing fine , with not help from anyone

We can survive outside one Nigeria

Gazzy88:
One thing I hate about you lots is pride and bragging. The day when sense fall on all of you that looking rich is different from being rich is the day you will stop bragging. You're doing well which nobody has doubted but coming online telling us others are not doing well but you, it's called self-deceit.

Pride won't grant you your self-determination you've seeking if you fail to work together with your neighbors without boasting. Your region isn't doing well than others. GDP don't lie...

solmus:




$5bn USD for power out of almost $30bn is low, fvcking too low, power is what we badly need to boost this economy and steel

Without any doubt I know this would jump start our economy with contractors getting paid and more construction workers getting hired, I also trust Chinese EXIM bank wouldn't give politician a kobo of their own $17bn , they would pay contractors directly after completion of each phase of implementation

with Osinbajo handling the MSME's almost $500 million I know for a matter of fact more graduate with bankable business plan would get startup funds, instead of going to any MSME clinic around them or CBN office on how to access the scheme they would rather wail and wail

Now someone needs to tell Abba Kyari that $300 million or 100 billion to NorthEast is a plain waste, without seciurity you cant achieve infrastructural development, and infrastructure in a region with low human capital development is just a waste

Next time when Lamidi Kanu tells you not to collect PVC remember that politics is about numbers, majority always have their way, Shameless leaders in the East still don't have sense now, they are the least prepared for 2023, instead of fighting for Presidential Ticket in PDP they still want to be slaves to another willing Fulani

PS: to the Ibos quoting me, go on tweeter and quote your Governors, and National Assembly representatives and pour all your hatefull comment there


.

Well said

Danishguy:
It seems you don't understand what they mean by 'accommodating'

Whenever anyone from the west throw that word, just know they mean — accepting Islam (more Igbo converts)

I stopped listening, and started to understand what they say or do. That way, I don't miss their messages or underlying intentions.

That's their prayers everyday, for Igbo's to be enslaved to Islam like them

jimyjames:
What's your problem with our pride? How does the pride of an Igbo man bothers you? Yes we Igbo's are naturally proud of ourselves , we are boastful and stubborn we boast of our achievment and we don't envy anyone, every region is doing fine, then why get angry if we Igbo's boast of our own? You all have tried to weaken us and turn us to beggars, knowing well an igbo man doesn't beg anyone , what haven't you people done ? You united and fought us in a civil war, killed 3 million of our people, destroyed every structure that was in south east , divided our people and gave to south south , but still all these hasn't weaken the Igbo man, we are doing fine , with not help from anyone

We can survive outside one Nigeria

There's a difference between pride and Self Deceit.

djon78:


Actually the region neglected has to rise up to the challenges facing it. It's not a must we depend on central government for development. No not at all.

If you understand global financing $27 billion dollars is a chicken change for a country as big as Nigeria to overhaul her dilapidated, and broke down infrastructures
In addition majority of the money is not even channeled to critical things needed to jump start Nigerian economy.

Pulling money for infrastructural investments is not that difficult in our present global financial world.
And the East is a good return on investment region more than others.

I just feel it is lack of knowledge especially on the side of our elites in the East.
For example place South East on the scale of rating agencies such as standards and poor, moody or Fitch and you will see they will get a better rating for investments more than other regions.

Like I said Nigeria is not even our problem, because with all things going for Nigeria and almost 60 years after independence, she is still groping in economic stagnancy.

The time has come for smart, intelligent, visionary and futuristic leaders to arise from the region and give sound leadership direction to the East. That's the only solution.
We have more than the capacity to do that.

No matter what even our leaders in south east have limited powers to do some certain things in south east even if the want to, investors most get approval from federal government to invest in some certain things, a lot of natural resources like, oil, natural gas, coal and big projects like international airports , rail projects all these belongs to the federal government

[s]

NGpatriot:




There's a difference between pride and Self Deceit.

[/s]

NGpatriot:




There's a difference between pride and Self Deceit.

There is no self deceit anywhere , we belief in ourselves and we know we can survive on our own , leave us with our pride

[s]

NGpatriot:



When they leave their poor towns and villages to feed on your fertile land, on your economy and on your tolerant spirit, but still pump their poor and shallow chest that they are better than you.

I wonder why they leave their poor villages to look for their daily bread in the hands of the people they say they are better than.

They are poor comedians, just laugh at their jokes and move on.

[/s]

jimyjames:
What's your problem with our pride? How does the pride of an Igbo man bothers you? Yes we Igbo's are naturally proud of ourselves , we are boastful and stubborn we boast of our achievment and we don't envy anyone, every region is doing fine, then why get angry if we Igbo's boast of our own? You all have tried to weaken us and turn us to beggars, knowing well an igbo man doesn't beg anyone , what haven't you people done ? [b]You united and fought us in a civil war, killed 3 million of our people, [/b]destroyed every structure that was in south east , divided our people and gave to south south , but still all these hasn't weaken the Igbo man, we are doing fine , with not help from anyone

We can survive outside one Nigeria

You're yet to heal from the wound of civil war after 5 decades? We don't have problem with you doing well but boasting everywhere is what people won't tolerate. If you wanna boast, do that in your region. Nobody will query you but coming over here, a Yoruba-owned and dominated forum, to boast is what we won't accept. Boast from now till thy kingdom comes, nobody cares so far you're doing that in your region. Then stop trooping to other region if you won't abide by their rules. What you can't accept in your region, you shouldn't take it to another man's land.

You wonder why only your region is being hated nationwide? It's because all of us are sick and tired of your acts. I know you will sing the melody of secession after this. Most of us here will gladly grant you your own country if we have the power. Being neighbors isn't bad though and know that you're gonna pay through your noses if you want to trade here. Ire oo

XANDERBOY85:
See why Senator Abaribe wanted a breakdown of how the entire loan would be spent! Can anyone in all honesty say this rubbish is fair to the south-east? Besides a $50 million vocational training centre that touches all regions of the country, and one or two general/national spendings, the south-east gets nothing else! But look at other regions, and see how they compare: in some instances, specific/stand-alone projects worth multi-millions of dollars are targeted for specific states! States like Kaduna, Taraba, Kogi as well as regions like south-west/north-west and south-south (east-west road and railway) were specifically mentioned!

Can neutrals now see why Igbos are fed up with this divisive, vindictive and bigoted Buhari gov't? Let no efulefu Igbo bastard in APC come and tell me Igbos are faring better under this evil regime and we should roll out the drums in celebration!

my oga no mind the idiot el-sudani, our Atiku will reverse everything come 2023

obailala:
Why must every thread on this forum and every discussion in Nigeria always degenerate to tasteless inter tribal war? Why must people always drag their foolishness everywhere? What's wrong with Yorubas and Igbos?

Ask me I am Hausa

oz4real83:
The total is still not up to the proposed loan Out of over $22b, this govt intends spending $500m on education. That shows the value they placed on education. Also check the intended spending on health, less than $100m. They are spending less on health and education because they still want a reason they and their families will continue going abroad.

Education would be to rebuild schools not actual recurrent expenditure.

solmus:


no sensible financial system would fund a project in a region prone to seccession , they just wont approve it, since their investment wouldn't be secured

each project approved in the loan, the financial instituition did proper risk accessment before putting their money down

Your write like that woman called Larauter Onoche, are you related.

jimyjames:
The reason Nigeria is like this , its because they neglected the only region that has the ability to turn things around in this country, as long as this region is neglected Nigeria will never amount to anything

Lols. You lots won't stop fooling yourselves, will you? The ONLY region that can turn things around, yet your region is almost barren, economically unviable and emigration prone. You came to SW and saw things working, didn't you. Which of your SE states come close to Lagos and Ogun, in terms of GDP, IGR, Industrial might, human development and other development parameters?

Stop these empty, lunatic, and comical boasting and 'mouthing'

solmus:


no sensible financial system would fund a project in a region prone to seccession , they just wont approve it, since their investment wouldn't be secured

each project approved in the loan, the financial instituition did proper risk accessment before putting their money down

Are you not a big fool?

solmus:


no sensible financial system would fund a project in a region prone to seccession , they just wont approve it, since their investment wouldn't be secured

each project approved in the loan, the financial instituition did proper risk accessment before putting their money down

Yet you wouldn't let them go. Are you not a big fool?

oz4real83:
The total is still not up to the proposed loan Out of over $22b, this govt intends spending $500m on education. That shows the value they placed on education. Also check the intended spending on health, less than $100m. They are spending less on health and education because they still want a reason they and their families will continue going abroad.

Is because they don't have anything tangible to derive from education and health. The professionals there blow alarm.

money wey go enter another man pocket

solmus:


no sensible financial system would fund a project in a region prone to seccession , they just wont approve it, since their investment wouldn't be secured

each project approved in the loan, the financial instituition did proper risk accessment before putting their money down

It’s like you are very mad. Are we not going to pay part of the loan? Are they not deducting money from our accounts as tax? Are you being serious? Just get out.

Witcher:
Most read
Speech as Nigeria Military Head Of State (1983)
Muhammadu Buhari

In pursuance of the primary objective of saving our great nation from total collapse, I, Major-General Muhammadu Buhari of the Nigerian army have, after due consultation amongst the services of the armed forces, been formally invested with the authority of the Head of the Federal Military Government and the Commander-in-Chief of the armed forces of the Federal Republic of Nigeria. It is with humility and a deep sense of responsibility that I accept this challenge and call to national duty.

As you must have heard in the previous announcement, the constitution of the Federal Republic of Nigeria (1979) has been suspended, except those sections of it which are exempted in the constitution. The change became necessary in order to put an end to the serious economic predicament and the crisis of confidence now afflicting our nation.

Consequently, the Nigerian armed forces have constituted themselves into a Federal Military Government comprising of a Supreme Military Council, a National Council of States, a Federal Executive Council at the centre and State Executive Councils to be presided over by military governors in each of the states of the federation. Members of these councils will be announced soon.
The last Federal Military Government drew up a programme with the aim of handing over political power to the civilians in 1979. This programme as you all know, was implemented to the letter. The 1979 constitution was promulgated.
However, little did the military realise that the political leadership of the second republic will circumvent most of the checks and balances in the constitution and bring the present state of general insecurity.

The premium on political power became so exceedingly high that political contestants regarded victory at elections as a matter of life and death struggle and were determined to capture or retain power by all means. It is true that there is a worldwide economic recession.
However, in the case of Nigeria, its impact was aggravated by mismanagement. We believe the appropriate government agencies have good advice but the leadership disregarded their advice. The situation could have been avoided if the legislators were alive to their constitutional responsibilities. Instead, the legislators were preoccupied with determining their salary scales, fringe benefit and unnecessary foreign travels, et al, which took no account of the state of the economy and the welfare of the people they represented.

As a result of our inability to cultivate financial discipline and prudent management of the economy, we have come to depend largely on internal and external borrowing to execute government projects with attendant domestic pressure and soaring external debts, thus aggravating the propensity of the outgoing civilian administration to mismanage our financial resources. Nigeria was already condemned perpetually with the twin problem of heavy budget deficits and weak balance of payments position, with the prospect of building a virile and viable economy.

The last general election was anything but free and fair. The only political parties that could complain of election rigging are those parties that lacked the resources to rig. There is ample evidence that rigging and thuggery were relative to the resources available to the parties. This conclusively proved to us that the parties have not developed confidence in the presidential system of government on which the nation invested so much material and human resources. While corruption and indiscipline have been associated with our state of under-development, these two evils in our body politics have attained unprecedented height in the past few years. The corrupt, inept and insensitive leadership in the last four years has been the source of immorality and impropriety in our society.

Since what happens in any society is largely a reflection of the leadership of that society, we deplore corruption in all its facets. This government will not tolerate kick-backs, inflation of contracts and over-invoicing of imports etc. Nor will it condone forgery, fraud, embezzlement, misuse and abuse of office and illegal dealings in foreign exchange and smuggling.
Arson has been used to cover up fraudulent acts in public institutions. I am referring to the fire incidents that gutted the P&T buildings in Lagos, the Anambra State Broadcasting Corporation, the Republic Building at Marina, the Federal Ministry of Education, the Federal Capital Development Authority Accounts at Abuja and the NET Building. Most of these fire incidents occurred at a time when Nigerians were being apprehensive of the frequency of fraud scandals and the government incapacity to deal with them.

Corruption has become so pervasive and intractable that a whole ministry has been created to stem it.
Fellow Nigerians, this indeed is the moment of truth. My colleagues and I – the Supreme Military Council, must be frank enough to acknowledge the fact that at the moment, an accurate picture of the financial position is yet to be determined. We have no doubt that the situation is bad enough. In spite of all this, every effort will be made to ensure that the difficult and degrading conditions under which we are living are eliminated.
Let no one however be deceived that workers who have not received their salaries in the past eight or so months will receive such salaries within today or tomorrow or that hospitals which have been without drugs for months will be provided with enough immediately. We are determined that with the help of God we shall do our best to settle genuine payments to which government is committed, including backlog of workers’ salaries after scrutiny.

We are confident and we assure you that even in the face of the global recession, and the seemingly gloomy financial future, given prudent management of Nigeria’s existing financial resources and our determination to substantially reduce and eventually nail down rises in budgetary deficits and weak balance of payments position. The Federal Military Government will reappraise policies with a view to paying greater attention to the following areas: The economy will be given a new impetus and better sense of direction. Corrupt officials and their agents will be brought to book.

In view of the drought that affected most parts of the country, the federal government will, with the available resources, import food stuffs to supplement the shortfalls suffered in the last harvest.
Our foreign policy will both be dynamic and realistic. Africa will of course continue to be the centre piece of our foreign policy. The morale and combat readiness of the armed forces will be given high priority. Officers and men with high personal and professional integrity will have nothing to fear.

The Chief Justice of Nigeria and all other holders of judiciary appointments within the federation can continue in their appointments and the judiciary shall continue to function under existing laws subject to such exceptions as may be decreed from time to time by the Federal Military Government. All holders of appointments in the civil service, the police and the National Security Organisation shall continue to exercise their functions in the normal way subject to changes that may be introduced by the Federal Military Government.

All those chairmen and members of statutory corporations, parastatals and other executive departments are hereby relieved of their appointments with immediate effect.
The Federal Military Government will maintain and strengthen existing diplomatic relations with other states and with international organisations and institutions such as the Organisation of African Unity, the United Nations and its organs, Organisation of Petroleum Exporting Countries, ECOWAS and the Commonwealth etc. The Federal Military Government will honour and respect all treaties and obligations entered into by the previous government and we hope that such nations and bodies will reciprocate this gesture by respecting our country’s territorial integrity and sovereignty.
Fellow Nigerians, finally, we have dutifully intervened to save this nation from imminent collapse. We therefore expect all Nigerians, including those who participated directly or indirectly in bringing the nation to this present predicament, to cooperate with us. This generation of Nigerians, and indeed future generations, have no country other than Nigeria. We shall remain here and salvage it together.

May God bless us all. Good morning.
The speech is fresh like it's was today.

Only that this speech would be apt after another coup today.

Security zero.... Oponu

I am not from Southeast, but I can see that no single project for Southeast. The whole country would beade to pay for it.
Intact, I don't see the need for is loan.
1. Where is the much talked about coastal rail line from Lagos to calaba and to Maiduguri.
2. Where is the second Niger bridge.
3. Etc.
I pray that the God of heaven will frustrate further move to the realisation of taking this loan, thereby saving our future generation

Nigeria need no loan for now.

Save our generation.

Still will end in stories.

Vague ......I'm not convinced. No sane human being or nation will borrow up to 60%of it's national foreign reserve

solmus:




$5bn USD for power out of almost $30bn is low, fvcking too low, power is what we badly need to boost this economy and steel

Without any doubt I know this would jump start our economy with contractors getting paid and more construction workers getting hired, I also trust Chinese EXIM bank wouldn't give politician a kobo of their own $17bn , they would pay contractors directly after completion of each phase of implementation

with Osinbajo handling the MSME's almost $500 million I know for a matter of fact more graduate with bankable business plan would get startup funds, instead of going to any MSME clinic around them or CBN office on how to access the scheme they would rather wail and wail

Now someone needs to tell Abba Kyari that $300 million or 100 billion to NorthEast is a plain waste, without seciurity you cant achieve infrastructural development, and infrastructure in a region with low human capital development is just a waste

Next time when Lamidi Kanu tells you not to collect PVC remember that politics is about numbers, majority always have their way, Shameless leaders in the East still don't have sense now, they are the least prepared for 2023, instead of fighting for Presidential Ticket in PDP they still want to be slaves to another willing Fulani

PS: to the Ibos quoting me, go on tweeter and quote your Governors, and National Assembly representatives and pour all your hatefull comment there


.

I'm an igbo man and it's sad but its the truth.

The last cowbender! Destroyer of Nigeria

obailala:
Mambilla dam, East West road, Calabar to PH rail, Lagos to Kano rail, upgrade of transmission infrastructure; if the borrowed funds can actually be used to complete these ones alone, then the loan is definitely worth it. I dont know about the other things on the list

$500m for NTA though?

and still yet you will never hear any legit news from them.