You are a pussy

latyph:
I don't know when it became an offence to borrow money for development purposes. It well known everywhere in the financial world that it is either you carry out projects with equity or debt. America is the most indebted nation on earth and the most prosperous at the same time. Debt can be used to provide infrastructure.

Sirjamo:
If the last president from the poverty development party had saved enough, all these loans won't be necessary.


Obj left $65b dollars for Yar adua

Yar adua left $63b for Jonathan


Jonathan left $33b for Buhari


Oil slumped, Niger Delta avengers blew oil pipes for two years.


COVID destroyed the World Economy



If Buhari doesn't borrow, where on earth do you expect him to get the money for all the big projects he's executing?

If you can't counter with facts and figures like I have done, pls don't quote me. I have zero tolerance for dead brains.


I AM DONE TALKING

Mr., no one is against borrowing provided it is channeled into appropriate quarters. The issue here is its sustainability.

For instance, are we doing anything about the shrinking revenue? Can we pay back without hurting our economy? Is our export able to cover the debt?

These are the issues that the growing debt is throwing up.


Look at USA for instance, their debt is almost 100 percent of their GDP. Similarly, Japan's debt-to-GDP is almost 250 percent. But is their revenue shrinking?

We need to do more to improve our revenue. It has been proven both empirically and historical that high debt above sustainable limits are bad for growth. You know these growing debt burden, especially the external debt, is a negative pointer to potential investors and even domestic investors that cost of doing business will be high particularly with regards to high taxation for the government to pay back. Hence, the consequences is declined economic activities.

Moreover, most of the debt, are channeled into consumption. The long gestation period of the infrastructures embarked upon plus the lack of synergy between the Social efficiency of the projects and the infrastructural requirements for induced private investment is another issue.

I'm beginning to support the ideas of the modern monetary theory which advocate the creation of money and borrowing in local currency instead of external borrowing. Perhaps, if the created money if adequately used can be absorbed into the economy without the consequence of inflationary pressure.

Peace!

Sirjamo:
If the last president from the poverty development party had saved enough, all these loans won't be necessary.


Obj left $65b dollars for Yar adua

Yar adua left $63b for Jonathan


Jonathan left $33b for Buhari


Oil slumped, Niger Delta avengers blew oil pipes for two years.


COVID destroyed the World Economy



If Buhari doesn't borrow, where on earth do you expect him to get the money for all the big projects he's executing?

If you can't counter with facts and figures like I have done, pls don't quote me. I have zero tolerance for dead brains.


I AM DONE TALKING

Your type is one of the MAJOR problems Nigeria is having currently.

Noso so billion'dollars full everywhere...na wetin dem dey use am do we no understand....na like that supercop kyari all of you go tey dey exposed.....sombori dial the FBI...INTERPOL...SWAT...LAPD....US NAVY...and our own very strong and amotekun..

Most of the loans are tied to one project or program... I am okay with that.

amuwo1980:
These ppl have killed us

This is the problem with majority of Nigerians. Inability to read + ignorance. America that u worship is $23trn indebted to china!

blazebaba:
Noso so billion'dollars full everywhere...na wetin dem dey use am do we no understand....na like that supercop kyari all of you go tey dey exposed.....sombori dial the FBI...INTERPOL...SWAT...LAPD....US NAVY...and our own very strong and amotekun..

Try to read before blabbing

latyph:
I don't know when it became an offence to borrow money for development purposes. It well known everywhere in the financial world that it is either you carry out projects with equity or debt. America is the most indebted nation on earth and the most prosperous at the same time. Debt can be used to provide infrastructure.

BMC defending his darling daddy.

latyph:
I don't know when it became an offence to borrow money for development purposes. It well known everywhere in the financial world that it is either you carry out projects with equity or debt. America is the most indebted nation on earth and the most prosperous at the same time. Debt can be used to provide infrastructure.

Dont compare Nigeria to USA. USA $$ is the world reserve currency and issues debt for free, infact they can print dollars ie paper not backed by anything and countries pick them.
Now what infrastructure are you talking about? Do they seem commensurate to the rising debt profile? I put is to you most of these funds are leaving the country!
Assuming you run your personal business. In time you have poor sales, hardly any customers, you have difficulty paying salaries. Is that the time you will go to the bank or money lender to take loans at huge interest rates to do capital projects eg re-roof, repaint and build an extension to your office? Build a new fence, buy a benz?
Or will you rather seeing poor sales decide to avoid loans, manage your meagre resources, avoid wastage and come out debt free and even if you then take loan, it will be to refinance your stock (that is generating income)?
So many times I have had financial issues, financial companies eg carbon(paylater) will offer me 500k for 6 months, the urge will be there to take. I will rather hold my self and come out debt free, but my paddy will collect (easy way out), when repayment starts, as all his income goes to paying debt monthly for 6 months, no breathing space. It is still the same me that he will come to for assistance.

guruzmarstk:



Because America was able to grow its way out of debt doesn't mean all countries can. Empirically, there's a negative relationship between debt burden and economic growth. You're not wiser than economist that are strongly against the growing debt of the country. Moreover, maybe you should compare the revenue-to-GDP ratio of America to Nigeria to know the crisis ahead.

America has not been able to grow out of debt.

Nigeria's debt to GDP is 35%

USA debt to GDP is 108%

The redundant coupist is hell bent on sinking the shithole!

blackpanda:


This is the problem with majority of Nigerians. Inability to read + ignorance. America that u worship is $23trn indebted to china!

Perhaps America will collapse sooner than most of us imagine if they begin to struggle with debt servicing. Debt sustainability is a very big deal. People who are not ignorant shouldn't try to make light of such matters. Capacity for revenue generation and the interest rates at which the debts were acquired significantly impact debt sustainability. Have you compared Nigeria's capacity for revenue generation to that of America? Have you compared the average interest rate at which Nigeria secures its debt to America?

Tax paying citizens of a country that spends more than 70% of its generated revenue on debt servicing are right to be disturbed. Things are looking very worrisome for Nigeria's economic future. The downward trend over the last 5 years appears to be steepening.

latyph:
I don't know when it became an offence to borrow money for development purposes. It well known everywhere in the financial world that it is either you carry out projects with equity or debt. America is the most indebted nation on earth and the most prosperous at the same time. Debt can be used to provide infrastructure.

Where is the infrastructure?

GiantParrot:


Perhaps America will collapse sooner than most of us imagine if they begin to struggle with debt servicing. Debt sustainability is a very big deal. People who are not ignorant shouldn't try to make light of such matters. Capacity for revenue generation and the interest rates at which the debts were acquired significantly impact debt sustainability. Have you compared Nigeria's capacity for revenue generation to that of America? Have you compared the average interest rate at which Nigeria secures its debt to America?

Tax paying citizens of a country that spends more than 70% of its generated revenue on debt servicing are right to be disturbed. Things are looking very worrisome for Nigeria's economic future. The downward trend over the last 5 years appears to be steepening.

Do u think if nigeria couldn't pay back it's debt, then world bank and co will be willing to still borrow us money If u had bothered to read the article u will see that most of the money's borrowed are self financing. They are tied to projects that generate income to pay back the loans. This is different from the past where nigeria borrows money and it just enters someone's pocket. Try to read before commenting. Cheers

Mr bubu

Sirjamo:
If the last president from the poverty development party had saved enough, all these loans won't be necessary.


Obj left $65b dollars for Yar adua

Yar adua left $63b for Jonathan


Jonathan left $33b for Buhari


Oil slumped, Niger Delta avengers blew oil pipes for two years.


COVID destroyed the World Economy



If Buhari doesn't borrow, where on earth do you expect him to get the money for all the big projects he's executing?

If you can't counter with facts and figures like I have done, pls don't quote me. I have zero tolerance for dead brains.


I AM DONE TALKING

rubbish rubbish rubbish...

World Bank and all other arm of world Bank should please stop borrowing Nigeira money o. Nigeria is not a poor country just bad government we have.
Just imagine the huge dept despite all the money generated from the country natural resources and other internal revenues, all the Abacha loot received so far and recovered asset by the EFCC.

Staphylococcus:
This is commendable.

God bless His Excellence President Mohammadu Buhari (GCFR)

Iseee, so shall it be my brother

blackpanda:


Do u think if nigeria couldn't pay back it's debt, then world bank and co will be willing to still borrow us money If u had bothered to read the article u will see that most of the money's borrowed are self financing. They are tied to projects that generate income to pay back the loans. This is different from the past where nigeria borrows money and it just enters someone's pocket. Try to read before commenting. Cheers

When I first responded to you, I didn't imagine you could be this naive. There's an ancient saying: "The rich rules over the poor, and the borrower is slave of the lender". The financial heavyweights behind the Bretton Woods institutions will always benefit in the long run even if you default on the loans you owe them, like has been the case for over 30 years of their operations in Africa.

There has never been a time when loans were provided to find their way into "someone's pocket". There's always the assumption on paper that revenue will grow to pay off the loans. It rarely ever turns out that way in West Africa.

The data clearly shows that Nigeria's debt sustainability case worsens year after year.

2016: 33.94% of revenue
2017: 34.02% of revenue
https://punchng.com/nigeria-spends-34-of-revenue-on-debt-servicing-dmo/?amp
The ratios were already at alarming levels at this point.

2018: 50%+ of revenue
https://www.google.com/amp/s/punchng.com/nigeria-servicing-debt-with-more-than-50-revenue-imf/%3famp

2019: 54.66% of revenue
2020: 72% of revenue
https://punchng.com/debt-servicing-rises-gulps-72-of-fg-revenues/?utm_source=auto-read-also&utm_medium=web&amp

Most economic experts have expresses their worries about Nigeria's debt sustainability, including the IMF and Akinwumi Adesina, who heads one of our creditor organizations, the AFDB. Everyone has the right to bury their heads in the sands. But that has no bearing on the reality that awaits them.

IT'S BMF-BOKOISWA BUHARINOMICS.

And in the other news someone is telling me ifni provoke his demigod he will vex for us... so if I tell am make he stop borrowing money here and there nah prove abi? Some people no get sense

Loan is useful if you have a good project to use it for.


Check my signature if you need quality personal and protective equipment ( PPE's)

Carchoice:
And some people think Nigeria can break up so easily. I laugh.

You think after borrowing all these loans, Nigeria will be allowed to break up? Not happening. It can never happen.

Yes we can still break up... The region that give birth like rats and claim to have big population to carry the biggest chunk of the debts

how much of these MONIES dey go private pockets !!

Staphylococcus:
This is commendable.

God bless His Excellence President Mohammadu Buhari (GCFR)

As in are you okay?
one administration borrow almost the same amount the rest administrations have borrowed and you are saying it is commendable.
you need help.

GiantParrot:


When I first responded to you, I didn't imagine you could be this naive. There's an ancient saying: "The rich rules over the poor, and the borrower is slave of the lender". The financial heavyweights behind the Bretton Woods institutions will always benefit in the long run even if you default on the loans you owe them, like has been the case for over 30 years of their operations in Africa.

There has never been a time when loans were provided to find their way into "someone's pocket". There's always the assumption on paper that revenue will grow to pay off the loans. It rarely ever turns out that way in West Africa.

The data clearly shows that Nigeria's debt sustainability case worsens year after year.

2016: 33.94% of revenue
2017: 34.02% of revenue
https://punchng.com/nigeria-spends-34-of-revenue-on-debt-servicing-dmo/?amp
The ratios were already at alarming levels at this point.

2018: 50%+ of revenue
https://www.google.com/amp/s/punchng.com/nigeria-servicing-debt-with-more-than-50-revenue-imf/%3famp

2019: 54.66% of revenue
2020: 72% of revenue
https://punchng.com/debt-servicing-rises-gulps-72-of-fg-revenues/?utm_source=auto-read-also&utm_medium=web&amp

Most economic experts have expresses their worries about Nigeria's debt sustainability, including the IMF and Akinwumi Adesina, who heads one of our creditor organizations, the AFDB. Everyone has the right to bury their heads in the sands. But that has no bearing on the reality that awaits them.

Beautifully put! Buhari has such followership that is ready to run into the grave for him. How the man managed to con people into such foolishness is beyond understanding. Buhari is a star at what he does!

It's so pitiful to see people trying to applaud him. Your writeup backed with official statistics may perhaps help people see the truth.

wink2015:
Is this how Chief Obafemi Awolowo, Dr. Nnamdi Awolowo and Sarduana, Sir Ahmadu Bello ran the Nigerian project in the 50s and 60s that present Leaders like President Buhari has come to meet?

President Buhari take loans without any sense of its future implications for Nigerians unborn.

. This is a ploy by the Fulani to put discourage western nations from supporting the Nigerian's disintegration, if you are wise you will notice how lawal and his yeomen in the national assembly approves loans anytime Buhari writes and the way the buffoons in nairaland defend

blackpanda:


Try to read before blabbing

Ofcourse i did read it all mofo....am not the one wearing a spectacle or you want me to get you a mirror dummy..

The World Bank has no business lending to Nigeria due to the country's foreign exchange policy. It should demand that be fully scrapped before lending resumes.

It's wrong to burden countries with faulty economic promises with debt. You're simply worsening their plight not helping it.

The difference between the official rate and parallel rate is about N80 per dollar. Multiply that let's say $15bn and you have 1.2 trillion. That's the amount the country is throwing away each year by not merging the rates. At least half that sum of 600bn (about $1.2bn ) is lost revenue by the borrowing loving federal government.. And yet, the World Bank still lends to the country.

The World Banks action is tame compared to the lending of $50bn to Venezuela by the Chinese. That was bunkum at the highest level