trutharena: He claimed one of the reason for big corruption in the civil service is that the system is rigged against integrity because how do we expect a civil servant/Private workers earning like 100k to afford a house/car that is 8million by paying cash at once.
He said we can’t have a system that allow corruption while on the other hand have EFCC to curb the corruption.
He advised the best way to curb this is to set up mortgage system such that the people can pay in installment with FG working alongside the lenders to see that people can have access to such loans. With this, a civil servant don’t need to steal to afford cars and etc.
In Lagos, this is in practice with Lagos HOMS. The FG just need to back the banks with some security that can help them mitigate against defaulters that may arise.
To the Obituary people that invaded this thread, you’ve been asking for Tinubu stance on things like this, now he spoke brilliantly, you’re still bitter.
Whether you hit your head on stone or not, Tinubu will be your president in 2023.
Trust me, if Tinubu gets elected, he will build a long lasting mortgage structure in Nigeria that will outlive his government. This man understand how to build structure and he is a goal getter.
My worry here is that he gave us Buhari & you can agree that Buhari is a disaster so why didn't he sell even if it's one of his genius ideas to Buhari so that we can beat our chests & say he is the man for 2023 after seeing Buhari try one of his ideas & it worked. There are many fronts we strive to improve in Nigeria, Buhari failed woefully in all yet Tinubu still holds him at high esteem & you want me to support a man that is from the same divide with the highest failure Nigeria has seen in a President? He MUST CONVINCE me with something TANGIBLE for me to abandon Obi for him & u can agree with me that it's easier for a Camel to pass thru the eye of a tiny niddle than for you & Tinubu to convince me to vote for him or APC having seen what his products Buhari & Osibanjo reduced Nigeria to in his very before & he is yet to criticize them rather he supports & enjoy with them while the MASSES enjoy the negative effects of their useless leadership.
Kennedyli: Is this the best of Tinubu? Unfortunately he's saying gibberish even after all the editing.
How would someone earning 100k afford ro pay back a car loan of 3.5 million?
Even with a credit system. It will take 100% of his salary for over 2 years to pay for the car.
Which lender will agree to such a deal?
BTw Nigeria already has a credit system. Loan apps like Carbon and Branch use it.
The next president should focus on increasing local production to strengthen the naira. So that car of 3.5 mil can go back to the 1.5 mil it was sold 7 years ago.
TINUBU HAS NOTHING TO OFFER.
Oil dey ur head my broda......... E be like say u score A for OBM101 (Obinometrics)
How do you now get the money you give to the bank? You have to be credited worthy first before you can access such infrastructure. Are you paid per hourly , do you have choice of career , jobs with good pay, not when majority of the working class youth are contract staff. Combining the nigeria factor into consideration of not paying back loans.
They have borrowed from china, now they want to sale you off by being indebted to them.
We dont need cars, because there is no good road to ply them. Which will lead to conjustion.
Leave who can access credit for the bank to decide,they have trained,paid experts whose only job is to identify who is credit worthy for what volume of credit and who isn't. All the government can do in this case is to reduce lending rate by reducing MPR and the CBN giving banks more credit to disburse,and then in turn look for other ways to checkmate the inflation this will cause and keep it at the barest minimum. I would have explained more but I no get strength to type abeg.
trutharena: He claimed one of the reason for big corruption in the civil service is that the system is rigged against integrity because how do we expect a civil servant/Private workers earning like 100k to afford a house/car that is 8million by paying cash at once.
He said we can’t have a system that allow corruption while on the other hand have EFCC to curb the corruption.
He advised the best way to curb this is to set up mortgage system such that the people can pay in installment with FG working alongside the lenders to see that people can have access to such loans. With this, a civil servant don’t need to steal to afford cars and etc.
In Lagos, this is in practice with Lagos HOMS. The FG just need to back the banks with some security that can help them mitigate against defaulters that may arise.
To the Obituary people that invaded this thread, you’ve been asking for Tinubu stance on things like this, now he spoke brilliantly, you’re still bitter.
Whether you hit your head on stone or not, Tinubu will be your president in 2023.
Trust me, if Tinubu gets elected, he will build a long lasting mortgage structure in Nigeria that will outlive his government. This man understand how to build structure and he is a goal getter.
Kennedyli: Is this the best of Tinubu? Unfortunately he's saying gibberish even after all the editing.
How would someone earning 100k afford ro pay back a car loan of 3.5 million?
Even with a credit system. It will take 100% of his salary for over 2 years to pay for the car.
Which lender will agree to such a deal? It's seems you are naive about credit system. In western world some mortgage last up to 35 years. You people always have something Against and nothing for
BTw Nigeria already has a credit system. Loan apps like Carbon and Branch use it.
The next president should focus on increasing local production to strengthen the naira. So that car of 3.5 mil can go back to the 1.5 mil it was sold 7 years ago.
aviara: Mortgage is not a new idea it has been there all the while. How does the market woman who sells tomatoes at mile 12 market in Lagos access and affords mortgage when the state govt keeps sending touts to harras them to pay one levy after another. How will the transporters afford it when half of their income is collected by agberos at every bus stop.
trutharena: He claimed one of the reason for big corruption in the civil service is that the system is rigged against integrity because how do we expect a civil servant/Private workers earning like 100k to afford a house/car that is 8million by paying cash at once.
He said we can’t have a system that allow corruption while on the other hand have EFCC to curb the corruption.
He advised the best way to curb this is to set up mortgage system such that the people can pay in installment with FG working alongside the lenders to see that people can have access to such loans. With this, a civil servant don’t need to steal to afford cars and etc.
In Lagos, this is in practice with Lagos HOMS. The FG just need to back the banks with some security that can help them mitigate against defaulters that may arise.
To the Obituary people that invaded this thread, you’ve been asking for Tinubu stance on things like this, now he spoke brilliantly, you’re still bitter.
Whether you hit your head on stone or not, Tinubu will be your president in 2023.
Trust me, if Tinubu gets elected, he will build a long lasting mortgage structure in Nigeria that will outlive his government. This man understand how to build structure and he is a goal getter.
Did you see the rubbish you wrote? So someone earning 100k will access 5million loan abi even at 8% interest the staff would spend up to 100% of his or her earnings assuming the repayment is to be made in 24months. If Lagos HOMS is effective as you say why has it not solved the access to affordable housing for Lagos state civil servants? Even with a mortgage repayments would take up to 70% of the person's salary, it is bad business already for the mortgage lender. In advanced countries they have a welfare system that ensures that you don't feel the effect of the loan on your family finances. Trutharena or lie arena do you think this type of welfare system is available in Nigeria or Lagos.
SeaTrade: There's no other way that ensures the circulation of money to lift anyone from poverty asides value!No other way.What?you want to start handing out free naira to people to bridge poverty gap? Look,cheap accessible credit means lots of people and businesses can/will now want credit to increase capacity/profitability,this process creates more demand for labor/services and its ripple effects and this is how people get lifted from poverty.
That was a terrible instance,never make poor examples so you don't come across as ignorant. It's not government's place to raise income oga,leave that to private enterprises. When you've attracted the creation of enough of them in your country,they'll compete amongst themselves to get the best man for the job in their enterprises, one of the ways they do this is by offering bigger pay for labor.That's how income bracket of a nation increases. Government can only set minimum wage.
This makes no sense,the consumer determines his/her credit strength by his/her earning potential. If you want more credit strength, earn more money legally! Proceeds of corruption aren't kept in commercial banks ,neither do banks use them for credit eligibility. What they look at is cashflow and not volume of deposit.
The capitalist countries didn't just acquire a hundred times Nigeria's economic strength in one day.It was processes like these that led them to where they are today.Nigeria can do same by emulating the same methods.
Of course jagaban is smarter than I am,there's no disputing that. Even if it was scripted by someone else,it means he has smart thinking people as his entourage and that's good enough. Peter Obi speaks a lot of dumb economics from his brain which makes little to no economic sense to the trained eye, I rather one who speaks correct from a script than another that spits a lot of garbage from his brain. He wants to make Nigeria an economic powerhouse,yet he saved N75B in a volatile currency,in a state with one of Nigeria's poorest citizens whose biggest prospect of its citizenry is nwaboy and yet sees it as bragging rights /him being an economic wizkid tells me all I need to know about how empty he actually is, Ask him for a step by step guide on how he intends to make Nigeria an export nation like he's been saying and watch him go blank. I chose track record over sweet talks,no offense. Tinubu has told you how he intends to achieve economic progress for Nigeria.
I am not campaigning for anyone or make you see reasons to vote tinubu,I just have a penchant for identifying quality when I see it. Cheers.
You better talk more about who you know and leave the anoint one ,out of you banter. Because we are Obidient.
InoGetJoy: Nairalanders, please leave tribalism for once and vote based on competence. Think about yourself and your children when you vote in 2023. If you vote a foolish president, you'll suffer whether he's from your tribe or not. Ask my Northern brethren what they're passing through even with their brother as president. Be selfish in this coming election, think about yourself first
As for me and my family, we're voting for Peter Obi because among the 3 frontline candidates, he's the most likely to perform
What are your favourite Obi plans for Nigeria? And, of all his policies, what ones do you believe will most positively impact you and your family?
xynerise: I can only vote Tinubu if he eradicates Agberoism in Lagos
Agbero has been in existence long before Tinubu became governor and they are backed by constitution. What we call Agbero is NATIONAL UNION OF ROAD TRANSPORT WORKERS. they are not established by Tinubu, it is a UNION.
trutharena: He claimed one of the reason for big corruption in the civil service is that the system is rigged against integrity because how do we expect a civil servant/Private workers earning like 100k to afford a house/car that is 8million by paying cash at once.
He said we can’t have a system that allow corruption while on the other hand have EFCC to curb the corruption.
He advised the best way to curb this is to set up mortgage system such that the people can pay in installment with FG working alongside the lenders to see that people can have access to such loans. With this, a civil servant don’t need to steal to afford cars and etc.
In Lagos, this is in practice with Lagos HOMS. The FG just need to back the banks with some security that can help them mitigate against defaulters that may arise.
To the Obituary people that invaded this thread, you’ve been asking for Tinubu stance on things like this, now he spoke brilliantly, you’re still bitter.
Whether you hit your head on stone or not, Tinubu will be your president in 2023.
Trust me, if Tinubu gets elected, he will build a long lasting mortgage structure in Nigeria that will outlive his government. This man understand how to build structure and he is a goal getter.
RedChiefPriest: Normal normal we need this. The whites are not rich but stuffs like this are in place. We need a government that can do this and make life easier for the people but when the government will come that's the problem.
Dj! Bring me 1 jar of palmwine and add 2 satchel of salt Barman play me "Government na scam" by Martin Luther King and tiwa savage.
And in the end most of them end up selling their souls to the banks. No be everything white man dey do we go copy. Dead on arrival
trutharena: He claimed one of the reason for big corruption in the civil service is that the system is rigged against integrity because how do we expect a civil servant/Private workers earning like 100k to afford a house/car that is 8million by paying cash at once.
He said we can’t have a system that allow corruption while on the other hand have EFCC to curb the corruption.
He advised the best way to curb this is to set up mortgage system such that the people can pay in installment with FG working alongside the lenders to see that people can have access to such loans. With this, a civil servant don’t need to steal to afford cars and etc.
In Lagos, this is in practice with Lagos HOMS. The FG just need to back the banks with some security that can help them mitigate against defaulters that may arise.
To the Obituary people that invaded this thread, you’ve been asking for Tinubu stance on things like this, now he spoke brilliantly, you’re still bitter.
Whether you hit your head on stone or not, Tinubu will be your president in 2023.
Trust me, if Tinubu gets elected, he will build a long lasting mortgage structure in Nigeria that will outlive his government. This man understand how to build structure and he is a goal getter.
He has not said anything meaningful here What they ask of him, is the plan to turn the fortunes of the country economy around. Its in a functioning economy atleast, we will talk about this, not this economy where the minimum wage of works is not even upto 100dollars. Tell me how will such citizens apply and pay up for mortgages. The purchasing power of the citizens is low, because of high inflation, and you're here talking of credit score. . That's how they decieve you with phantom promises.
He just used that as an example. Someone earning 100k does not necessarily have to go fo a N3.5m car. In a multilateral arrangement involving banks and FG, workers can actually obtain car loans for 5 years (60 months) and mortgage loans for 20 years (240 months) on a single digit interest rate. I'm a banker and I currently enjoy this benefit. This is what obtains in UK, Canada and US.
The man is making sense. Despise the messenger but don't hate the message. Take emotion out of it.
Are you a banker in Nigeria or in China? In Nigeria's current inflation rate alone hovers around 18%. CBN interest rate is 13%. Banks that borrows from CBN must input their running and administrative costs (before even talking about profit) before giving out loans. That's why loans from banks is around 25 -30%. So how are you able to get single digit loan in Nigeria'?
SeaTrade: There's no other way that ensures the circulation of money to lift anyone from poverty asides value!No other way.What?you want to start handing out free naira to people to bridge poverty gap? Look,cheap accessible credit means lots of people and businesses can/will now want credit to increase capacity/profitability,this process creates more demand for labor/services and its ripple effects and this is how people get lifted from poverty.
That was a terrible instance,never make poor examples so you don't come across as ignorant. It's not government's place to raise income oga,leave that to private enterprises. When you've attracted the creation of enough of them in your country,they'll compete amongst themselves to get the best man for the job in their enterprises, one of the ways they do this is by offering bigger pay for labor.That's how income bracket of a nation increases. Government can only set minimum wage.
This makes no sense,the consumer determines his/her credit strength by his/her earning potential. If you want more credit strength, earn more money legally! Proceeds of corruption aren't kept in commercial banks ,neither do banks use them for credit eligibility. What they look at is cashflow and not volume of deposit.
The capitalist countries didn't just acquire a hundred times Nigeria's economic strength in one day.It was processes like these that led them to where they are today.Nigeria can do same by emulating the same methods.
Of course jagaban is smarter than I am,there's no disputing that. Even if it was scripted by someone else,it means he has smart thinking people as his entourage and that's good enough. Peter Obi speaks a lot of dumb economics from his brain which makes little to no economic sense to the trained eye, I rather one who speaks correct from a script than another that spits a lot of garbage from his brain. He wants to make Nigeria an economic powerhouse,yet he saved N75B in a volatile currency,in a state with one of Nigeria's poorest citizens whose biggest prospect of its citizenry is nwaboy and yet sees it as bragging rights /him being an economic wizkid tells me all I need to know about how empty he actually is, Ask him for a step by step guide on how he intends to make Nigeria an export nation like he's been saying and watch him go blank. I chose track record over sweet talks,no offense. Tinubu has told you how he intends to achieve economic progress for Nigeria.
I am not campaigning for anyone or make you see reasons to vote tinubu,I just have a penchant for identifying quality when I see it. Cheers.
Nnewi in Anambra has the highest number of millionaires concentrated within a location in any part of West Africa.
You're campaigning for Tinubu and denying it , lol I will not go far.
He has not said anything meaningful here What they ask of him, is the plan to turn the fortunes of the country economy around. Its in a functioning economy atleast, we will talk about this, not this economy where the minimum wage of works is not even upto 100dollars. Tell me how will such citizens apply and pay up for mortgages. The purchasing power of the citizens is low, because of high inflation, and you're here talking of credit score. . That's how they decieve you with phantom promises.
What's causing the high inflation rate if I may ask?
Just see what Tinubu and his people are promoting, you want a youth earning 100k to collect a car loan of 5million.
This is mortgaging the future of the youths, 5 million naira car loan with 100k salary means paying 50k per month for almost 3 years for a liability (Car).
We need good paying jobs, loans to SMEs, investment in education and health sector, steady power supply to help manufacturers and boost our GDP, and not car loans.
Kennedyli: Is this the best of Tinubu? Unfortunately he's saying gibberish even after all the editing.
How would someone earning 100k afford ro pay back a car loan of 3.5 million?
Even with a credit system. It will take 100% of his salary for over 2 years to pay for the car.
Which lender will agree to such a deal?
BTw Nigeria already has a credit system. Loan apps like Carbon and Branch use it.
The next president should focus on increasing local production to strengthen the naira. So that car of 3.5 mil can go back to the 1.5 mil it was sold 7 years ago.
TINUBU HAS NOTHING TO OFFER.
Father lord To think that people liked this your reaction shows how unlearned the youths of this country are
Without a good job can you make use of that your credit? It’s a yes or no answer.
You want to introduce credit system to a nation where morethan 70% are unemployed? Are you even thinking? The companies funding those credits will simply fold when not so many people use it.
Calm down, it kinda shows you didn’t understand how credit system works..
In USA for example, Credit cards are being issued by card issuers based on personal credit score ( Your worth)..
Either you’re earning $100,$200,300 or $1,000, you can take credit. They’re not going to borrow you more than your monetary value, and they’ll provide you a pay back payment plan that will be easy for you to navigate..
So, here in naija, either you’re earning 50k, 100k, 200k or 1m, you’ll be the able to take credit according to your monetary value..
Even a pepper seller at market can take credit. So long she’s earning and she’s got credit score..
So how much you’re earning isn’t any problem since they’ll only offer you credit based on your monetary value..
Past and present president did not have a clear policy to fight corruption, except steal first and later go to court if you are caught.
Obi needs more 10years political experience, only fidelity bank major experience is not enough to lead a country. as you can see serious errors in emefele's only zenith bank experience crashing the economy.
this is a clear idea of fighting corruption if can be well implemented.
unfortunately, everyone in Nigeria of today has corruption tendencies in different % in d blood. imagine a young graduate want to buy 2020 model of his choice car and build triplex before getting married while just finishing NYSC.
trutharena: He claimed one of the reason for big corruption in the civil service is that the system is rigged against integrity because how do we expect a civil servant/Private workers earning like 100k to afford a house/car that is 8million by paying cash at once.
He said we can’t have a system that allow corruption while on the other hand have EFCC to curb the corruption.
He advised the best way to curb this is to set up mortgage system such that the people can pay in installment with FG working alongside the lenders to see that people can have access to such loans. With this, a civil servant don’t need to steal to afford cars and etc.
In Lagos, this is in practice with Lagos HOMS. The FG just need to back the banks with some security that can help them mitigate against defaulters that may arise.
To the Obituary people that invaded this thread, you’ve been asking for Tinubu stance on things like this, now he spoke brilliantly, you’re still bitter.
Whether you hit your head on stone or not, Tinubu will be your president in 2023.
Trust me, if Tinubu gets elected, he will build a long lasting mortgage structure in Nigeria that will outlive his government. This man understand how to build structure and he is a goal getter.
If you think that car loans is what Nigeria youths need right now, then you are not serious. Car loans are the least of what Nigeria needs right now, I don't know when last you entered the nearby market in your locality.
U know all this and you didn't advice buhari? Left Nigerians to suffer for 8 years, because u want to be president?
We are not interested in your Bullionomics.
If you were Buhari will you feel happy if someone is meddling in your government? Tinubu has studied Buhari very well and knows that Buhari will not take advice especially when surrounded by cabal. That’s why he keeps aloof from his government.
Nnewi in Anambra has the highest number of millionaires concentrated within a location in any part of West Africa.
You're campaigning for Tinubu and denying it , lol I will not go far.
You're not interested in facts, I'll pass.
If it has the highest number of millionaires per unit area like you claim,why is there no middle class in Nnewi and most of its youths carrying barrows up and down in those dirty markets hauling goods for N100? I am not interested in "ime-ahia" facts please. For a place that claims to have the highest millionaires per unit area in Africa,I mean the middle class there should be booming ,but its not so apparently. All people can afford to rent there are 15k/month old,poorly constructed, dilapidating ,storey buildings that their landlords have dashed them over their inability to pay rents,plus they combine like 20 of the so called millionaires inside one 3 bedroom flat. I'll suggest you pass because you're stressing me for real with your unrealistic claims, analogies and inferences.
Kennedyli: Is this the best of Tinubu? Unfortunately he's saying gibberish even after all the editing.
How would someone earning 100k afford ro pay back a car loan of 3.5 million?
Even with a credit system. It will take 100% of his salary for over 2 years to pay for the car.
Which lender will agree to such a deal?
BTw Nigeria already has a credit system. Loan apps like Carbon and Branch use it.
The next president should focus on increasing local production to strengthen the naira. So that car of 3.5 mil can go back to the 1.5 mil it was sold 7 years ago.
TINUBU HAS NOTHING TO OFFER.
Honestly Tinubu has nothing to offer, how many youths in Nigeria earn up to 100k, I thought he will talk about a model of creating jobs, empowering SMEs, investing in the power sector to encourage manufacturers, but he is talking about car loans.
What they ask of him, is the plan to turn the fortunes of the country economy around. Its in a functioning economy atleast, we will talk about this, not this economy where the minimum wage of works is not even upto 100dollars. Tell me how will such citizens apply and pay up for mortgages. The purchasing power of the citizens is low, because of high inflation, and you're here talking of credit score. 