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Nairaland Forum / Nairaland / General / Politics / Domestic Debt: Lagos Borrows Over ₦126 Billion In 3 Months (10681 Views)
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Re: Domestic Debt: Lagos Borrows Over ₦126 Billion In 3 Months by Pain(m): 3:28am On Mar 22, 2022 |
Common sense though not common points to Asiwaju Campaign Money. |
Re: Domestic Debt: Lagos Borrows Over ₦126 Billion In 3 Months by OFFICIAL336: 11:30am On Mar 22, 2022 |
Llyodsjids:How debt in governance works? You are not talking to a fool, but an economist. Debt should be an economic stabilization tool, a fiscal policy measure to control money supply, but it has to be internal borrowing. External borrowing should be for capital development only. Regardless of the purpose, debt is a burden on the future generation. No reasonable government will borrow if they have other options. So why is SW borrowing if they lead in IGR. It's not as if they are doing projects other states are not doing. SW excluding Lagos is even the most underdeveloped part of the south. They have the ugliest state capitals, have the ugliest villages and live in the worst houses. They are still the most malnourished and have more vulnerable households. Most of you guys claimm US is the most indebted but failed to look at the debt profile 1. A bulk of the debt is intergovernmental (departments borrowing to another dept) 2. Majority of the debt is internal, which serves as a secure investment vehicle for the citizens 3. Most of the external debts are held by Chinese. China is US biggest economic rival, borrowing about $1 trillion from China, makes them dependent on US. It's more of politics than economic, just as China uses loan to enslave Africans, US can play politics with that debt to keep China in place. If China invades Taiwan, US will sanction China which will include banning their citizens from repaying with USD or they could even write off the entire debt. I pity you Yorubas that always justify their huge indebtedness with US debt 1 Like |
Re: Domestic Debt: Lagos Borrows Over ₦126 Billion In 3 Months by bestmutiu2019(m): 5:56am On Nov 10, 2023 |
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