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Nairaland Forum / Nairaland / General / Politics / World Bank Blames FG As High Inflation Worsens Poverty (16882 Views)
Obaseki Blames FG For Hardship As Protesters Worship On The Streets / Ohanaeze Carpets FG As UK Jails Ekweremadu, Wife / Nnamdi Kanu Blames FG For The Death Of His Mother (2) (3) (4)
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Re: World Bank Blames FG As High Inflation Worsens Poverty by Nobody: 8:54am On Feb 05, 2022 |
Racoon: Well, many African countries take loans because the source of our revenue is one...cash crop,mineral or oil. And usually, the price of that cash crop, mineral or oil is always not at a point that can sustain us. Zambia had a windfall from high copper prices for several years some ten years ago, then it came to an end when copper crashed. To keep from starving..loans have to be taken.No need for us to beg world bank. World bank even wants us to stop taking loans, but since their ideas means 'hardship' (they want Nigeria to remove subsides, and also raise more money in tax revenue, for example)...governments would rather take loans 1 Like |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Ray07(m): 8:58am On Feb 05, 2022 |
backbencher:More money to loot, pay those lazy ass senator and governor abi ? The Nigeria government cannot be trust and held accountable. The money would rather end up in their stomach with spiritual projects on how the money was spent. |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Nobody: 9:03am On Feb 05, 2022 |
Ray07: Yeah, but even with subsidy they are still the same It's called a participatory democracy. Either you get up and form a party and be the change, or sit down and keep on crying. Meanwhile subsides are pushing us into more and more debt because of their rising cost. 1 Like |
Re: World Bank Blames FG As High Inflation Worsens Poverty by sulaak(m): 9:12am On Feb 05, 2022 |
Racoon: The World Bank doesn't encourage any of those stupid African countries to take out loans, in fact, they encourage countries to reduce their long term exposure and Nigeria reduced its external debt to less than $3-5 billion in 2007 with the assistance of the World Bank and PAris Club. It's the like's of the Buhari government taking out external loans to import refined oil, rice, wheat and steel at the expense of local production. What is the situation with Ajaokuta, ALSCON, and the four refineries, industrial factories that would have saved Nigeria $20 billion in imports? We need elected leaders that will focus on industrial production, that will cut imports and consumption. 2 Likes |
Re: World Bank Blames FG As High Inflation Worsens Poverty by baralatie(m): 9:18am On Feb 05, 2022 |
Enyimbamercedes: ![]() ![]() ![]() ![]() 1 Like |
Re: World Bank Blames FG As High Inflation Worsens Poverty by blackpanda: 9:23am On Feb 05, 2022 |
[s] KingOfTheDamned:[/s] U that is not corrupt why not go and contest na. Or it's only to be wailing behinde faceless social media ![]() |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Temidayo9(m): 9:25am On Feb 05, 2022 |
Racoon:You have said it all, God bless you |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Zetty177x: 9:26am On Feb 05, 2022 |
Lai Mohammed and Femi Adesina Ekiti Thunder awaits u 1 Like |
Re: World Bank Blames FG As High Inflation Worsens Poverty by wiseoneking: 9:27am On Feb 05, 2022 |
Racoon:keep quiet and blame this stupid government of Buhari. Which loan are they encouraging to take. Is it not this government that even China has refused to give more loan to because they felt it is too much already, and Nigerian government started rushing to Europe and Asians countries. You guys should learn how to blame the right people. Listen, is even better getting from world Bank than from China etal because the consequences of the later could cripple your county faster than expected. 2 Likes |
Re: World Bank Blames FG As High Inflation Worsens Poverty by samwillyco1(m): 9:46am On Feb 05, 2022 |
World Bank are evil, they were the one that contributed to NIGERIAN problem |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Passionate1(m): 9:50am On Feb 05, 2022 |
Blehssing:GOd! ![]() |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Nobody: 10:02am On Feb 05, 2022 |
wiseoneking: The guy is not defending Buhari...read his post again, especially the bit about 'beggy beggy african leaders'. |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Nobody: 10:05am On Feb 05, 2022 |
samwillyco1: No, the minute we decided that the main source of our revenue would be cocoa, palm oil groundnut, cotton, tin, columbite, crude oil, was the minute we entered into the debt trap. All those things , their prices are not under our control, and as a result we don't earn enough revenue from them, plus, except for crude, we have lost ground in all the others. And thus we have to take loans. If we stopped relying on them, and became more productive and sold industrial goods whose prices we can control (and allowed the power sector to work by allowing discos to set the price they want so that they can make a profit to fix things.), we would end our debtor nation status. 2 Likes |
Re: World Bank Blames FG As High Inflation Worsens Poverty by CSTRR: 10:05am On Feb 05, 2022 |
Go to Twitter and see how some Nigerians are playing politics of bigotry against Peter obi. Someone that they need desperately. 2 Likes |
Re: World Bank Blames FG As High Inflation Worsens Poverty by samwillyco1(m): 10:07am On Feb 05, 2022 |
Macphenson: The worst is that some fools are preparing something worst than the current disaster to come and finish NIGERIA kpatakpta. May God never allow another Disaster and Calamity upon NIGERIANS. 1 Like |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Nobody: 10:24am On Feb 05, 2022 |
CSTRR: Will Peter Obi remove subsidies on petrol and power and raise the revenue we earn from taxes?...so that we can have more revenue from crude oil and a better dollar, and more jobs and such like? Yes, he won't. (Won't be voting for Tinubu, and Saraki and company for the same reasons. Moghalu, yes, because he is the one most likely to do both). Pity about the bigots. 1 Like |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Nobody: 10:28am On Feb 05, 2022 |
Urchman200: Emefiele was appointed by GEJ , and retained by Buhari. As for his performance as CBN governor, he is doing his best with the hand that was played him He is doing what his predecessor did when Shagari was in power in 1981 1 Like |
Re: World Bank Blames FG As High Inflation Worsens Poverty by nedekid: 10:36am On Feb 05, 2022 |
This world bank is ipob. |
Re: World Bank Blames FG As High Inflation Worsens Poverty by nedekid: 10:41am On Feb 05, 2022 |
samwillyco1:Let's learn to take responsibility for our actions and stop blaming others. How did world bank contribute to Nigeria's problems? No be Nigeria go meet them to collect moni? You go take sokoloan come complain say the loan company cause your problem. ![]() 2 Likes |
Re: World Bank Blames FG As High Inflation Worsens Poverty by onuman: 10:43am On Feb 05, 2022 |
Does Nigeria leadership care even if inflation hits the rooftops and people are dying of hunger and falling on the streets? All the leadership wants is complete its tenure and hand over power to its choice of successor to continue. 1 Like |
Re: World Bank Blames FG As High Inflation Worsens Poverty by sulaak(m): 10:43am On Feb 05, 2022 |
backbencher: There lies the problem with democracy, there is no room for long term planning. Decisions are based on the outcome of the next election. Nigeria should remove oil subsidies and invest the saving in repairing the old refineries and building new ones, then list the refineries on the Nigeria stock exchange with Nigeria as a minority partner similar to the NLNG structure. |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Nobody: 10:48am On Feb 05, 2022 |
sulaak: It has nothing to do with democracy. Even during army rule, the same thing happened( Nigeria was 96% reliant on oil under Abacha. If anything, our dependency on oil has dropped since 1999, but not to any very significant level...as we still have a baseline oil price when it comes to budget funding). And army rule too has the problem of being truncated by coups. Also democratic governments can continue programmes from the previous government (see railway development since 2006) It's easier to get revenue from sharing revenue from that commodity we sell, than doing the hard work to become an industrial nation. Army rule or dictatorships won't change that mindset. 1 Like |
Re: World Bank Blames FG As High Inflation Worsens Poverty by sulaak(m): 10:53am On Feb 05, 2022 |
backbencher: Moghalu is the best candidate, but it seems like he doesn't have the funds and local political skills to win in a country like Nigeria. 2 Likes |
Re: World Bank Blames FG As High Inflation Worsens Poverty by onuman: 10:54am On Feb 05, 2022 |
Hunger may soon start to make too many people at a time drop dead on the streets of Nigeria. Lack of interest on Nigeria by its politicians and people gives rise to Nigeria's unmanageable economy and skyrocketing inflation. Nigeria is not a manageable country due to centrifugal forces acting on it. Oyibos who hold one Nigeria by force also have Nigeria as plantation yard watch. If Nigeria is in Europe, the country should have dissolved into more manageable countries. |
Re: World Bank Blames FG As High Inflation Worsens Poverty by obaaderemi: 10:56am On Feb 05, 2022 |
DMerciful: ![]() |
Re: World Bank Blames FG As High Inflation Worsens Poverty by NamelessOGBENI(m): 11:18am On Feb 05, 2022 |
And FG will put the blame on the citizen |
Re: World Bank Blames FG As High Inflation Worsens Poverty by samwillyco1(m): 11:30am On Feb 05, 2022 |
nedekid: They are always deceiving NIGERIA by dishing out bad advice to us, and turn around to join hand and blame them |
Re: World Bank Blames FG As High Inflation Worsens Poverty by RepoMan007: 11:34am On Feb 05, 2022 |
blackpanda:I don't blame them for suggesting subsidy removal and higher taxes. Take agric sector for instance, food has gone up as part of inflation but instead of us to witness increased productivity as a result of the new found lucrativeness of agriculture, insecurity has been joked with to the point people are afraid go to farm and not guaranteed their harvest when the muster the courage to farm. |
Re: World Bank Blames FG As High Inflation Worsens Poverty by nedekid: 11:40am On Feb 05, 2022 |
samwillyco1:The only time they give you advice is when you meet them for loans etc. If not what concerns us with them? Its when you go and meet your rich uncle to assist you with money, he then has the opportunity to tell you the history of your life and how you are not doing well etc. He will talk to you anyhow and might not still give you shi shi. 2 Likes |
Re: World Bank Blames FG As High Inflation Worsens Poverty by shortIGBOman: 11:45am On Feb 05, 2022 |
Urchman200: Goodluck Jonathan brought Emefele |
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