Ovamboland:


Why did private railway companies not come and invest in Nigeria at the same time MTN and co came into our telecoms? Didn't we have need for fast rail transport in 1999-2000? The error in your thinking is the notion that it's every sector that attracts private investment.
Can you name one emerging country like India, Indonesia, South Africa, Malaysia where private investors are the ones raising financing and building their roads, bridges and railway that are not known to be quick money spinners.

You really think foreign investors will come rushing to sectors with long break even points that the citizens and government don't want to put money? Why do you think USA, doyen of capitalism and private investment is making provisions and passing bills for $1 trillion infrastructure investment? You think it's a joke right? To leave your strategic infrastructure needs merely to profit decision of individual capital?

Pray tell me the name of the private investors that raised funds for the Shinkasen in Japan, Autobahn in Germany, EU Eurostar railway network, underwater English channel railway link between France and UK, Chinese Maglev trains, Tennessee valley authority network of dams in USA and Panama canal system built by USA.

Don't be carried away by preachment of the developed world that they themselves cannot follow to the letter.

Ovamboland:


Almost nothing significant happened in the first term of Obasanjo, but he had the advantage of the euphoria of the feeling of been free from military jack boot and steadily increasing revenue from oil. Also with international goodwill and some foreign investment in key sectors like telecoms and expansion of the financial sector due to pent up demand. Better growth came with even faster increase in oil prices and consolidation of financial sector.
He did not face crisis close to loss of 70% of national income. The crisis he faced are security challenges in different parts of the country, misapplication of funds and little attention to infrastructure.

huptin:


How much did Nigeria borrow to build the telecoms industry? If Nigeria had borrowed to fix NITEL rather than bring in the massive investment how would NITEL be faring today?

The Ajaokuta steel you mentioned despite all the loans how has it fared? You talk about the railways as if it started 4 years ago, NO it has been on since 2006, it just so happened that it was completed recently but even that how much money is it bringing? Can the money being made pay back the loan? Only lazy minds believe that borrowing is the only way to grow an economy?

How many countries have borrowed their way to prosperity?

Rossinkipp:


The USA. The world's biggest debtor nation.

Total debt: 26 TRILLION dollars.

As far as debt is concerned, Nigeria is still learning.