Magic hehehe

helinues:
Proofs or

Which proof do you need more than no fuel, no light, no security and widespread hunger. Dey play

It's very sad that an institution is trying to dribble the masses.

That amount is very much to have been borrowed by the present administration in this short while.I am certain,they meant Buhari's government.Tinubu inherited a huge loan on high interest.l wonder how and when that loan would be paid.Obasango did well on negotiating on our loans and clearing them off and sadly ,we are back at being indebted as a nation.

I keep saying it, with all yahaya Bello's incompetence, man is still miles ahead of Tinubu.
He was a better governor to kogi state than tinubu was ever to lagos

I thought no more borrowing, after the subsidy has been removed... APC Government please whatever we the Nigerian populance did to you people, we are truly sorry

nairalanda1:


Borrowing is never going to stop, because the alternatives is government using the tax weapon..ie taxing the majority that do not pay tax to federal and state government...which is damne unpopular, and would cause issues

OIl money is not enough either. We had a sustained period of low oil prices from 2014 to 21, then a short period of high prices, then low oil prices again. Nigeria needs oil above 100 dollars at least.

The low oil meant our debt rose due to the resultant drop in income. That means more loans.

If the current government had not partially removed subsides, it would have been much worse...because by 2022, we were paying almost all our revenue on debt servicing.

SO, ways and means. And the harsh fact is, we do have a corruption and poor accountability problem, but...hereis the scary thing, should we fix that...and we need to fix it, it won't improve our income.

And if you think Obi would have saved the day, sorry. He would have done exactly the same thing. As would have atiku....because Nigerian politicans don't want to tell people there isn't enough money. Which is why apc is borrowing, and why Buhari also borrowed before tinubu. They don't want to be honest, and tell Nigerians there is no money, and institute things like total removal of subsides, a programm of industrialization, making states earn their money, and really fighting corruption...because it is much easier to spend more money and take more loans.

Nigeria has a problem, and really it is refusal to face reality.

Don't think you hit it when you put PO in there.
Reality check, you said......?

Faposky95:


Don't think you hit it when you put PO in there.
Reality check, you said......?

I'm not here to attack any politician. I am here to tell you how dire our situation is, and why it is dire.

nairalanda1:


I'm not here to attack any politician. I am here to tell you how dire our situation is, and why it is dire.
F

It really is......

Voodoo economics is being tested

You're missing the point. The point is not about borrowing but govt lying to the citizens.

It is also about lack of transparency. You said there is no more subsidy when it obvious there's subsidy. Experts are saying there's subsidy, govt is saying no subsidy, who do citizens believe?

All these reduces confidence and no foreign investor will invest in a country the citizens do not have confidence in the economy

nairalanda1:


Borrowing is never going to stop, because the alternatives is government using the tax weapon..ie taxing the majority that do not pay tax to federal and state government...which is damne unpopular, and would cause issues

OIl money is not enough either. We had a sustained period of low oil prices from 2014 to 21, then a short period of high prices, then low oil prices again. Nigeria needs oil above 100 dollars at least.

The low oil meant our debt rose due to the resultant drop in income. That means more loans.

If the current government had not partially removed subsides, it would have been much worse...because by 2022, we were paying almost all our revenue on debt servicing.

SO, ways and means. And the harsh fact is, we do have a corruption and poor accountability problem, but...hereis the scary thing, should we fix that...and we need to fix it, it won't improve our income.

And if you think Obi would have saved the day, sorry. He would have done exactly the same thing. As would have atiku....because Nigerian politicans don't want to tell people there isn't enough money. Which is why apc is borrowing, and why Buhari also borrowed before tinubu. They don't want to be honest, and tell Nigerians there is no money, and institute things like total removal of subsides, a programm of industrialization, making states earn their money, and really fighting corruption...because it is much easier to spend more money and take more loans.

Nigeria has a problem, and really it is refusal to face reality.

Blaze14k:


https://leadership.ng/cbn-takes-down-report-on-fresh-n3-8tn-from-ways-means-loans/

They don print money taya

Oh nigeria, thy day cometh when your glory will be restored, but these evil doers and their supporters will never live to see it.

Ain't surprised though...
Criminal govt of self serving THIEVES 💯💯💯

Wow

Like seriously



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You share my views except the fact that if Tinubu was aware or had any sense of calm thinking and deep retrospective abilities as claimed, he would not have removed subsidy and devalued the currency at almost the same time...no country does this...it is a recipe for disaster....a currency that is not internationally traded, that is even a second choice in its own country can not be floated until the system is cleared to give an advantage to the local currency.....this action of devaluation wothiut thinking has set the economy back 20 years...I'm telling you it will take that long ot more to recover from that irrational decision.

nairalanda1:


Borrowing is never going to stop, because the alternatives is government using the tax weapon..ie taxing the majority that do not pay tax to federal and state government...which is damne unpopular, and would cause issues

OIl money is not enough either. We had a sustained period of low oil prices from 2014 to 21, then a short period of high prices, then low oil prices again. Nigeria needs oil above 100 dollars at least.

The low oil meant our debt rose due to the resultant drop in income. That means more loans.

If the current government had not partially removed subsides, it would have been much worse...because by 2022, we were paying almost all our revenue on debt servicing.

SO, ways and means. And the harsh fact is, we do have a corruption and poor accountability problem, but...hereis the scary thing, should we fix that...and we need to fix it, it won't improve our income.

And if you think Obi would have saved the day, sorry. He would have done exactly the same thing. As would have atiku....because Nigerian politicans don't want to tell people there isn't enough money. Which is why apc is borrowing, and why Buhari also borrowed before tinubu. They don't want to be honest, and tell Nigerians there is no money, and institute things like total removal of subsides, a programm of industrialization, making states earn their money, and really fighting corruption...because it is much easier to spend more money and take more loans.

Nigeria has a problem, and really it is refusal to face reality.

Cindypresh:


Emergency lovers of Nigeria...why are you defending clueless governments destroying Nigeria?

From buhari to now tinupoo

Borrowing from one treasury isn't a crime is even better from talking loan from Foreign countries. No o countries can even match what US is taking from their treasury including minting

I wrote it out on one nairaland topic that this government will return to the ways and means it criticised Buharis government for, so many many of the daft urchins attacked me and abused the hell out of me...truly, what did anyone expect?

The government approved a huge expansionary budget proposing to spend its way out of current self induced recession and galvanise production in the economy. The two ways you can fund an expansionary budget if your earnings are shrinking are through borrowings or increasing taxes.....the government chose the former and was hoping to get a lot of foreing loans ti make uo for the deficits...unfortunately these are not coming as expected....to use the alternative option of taxing the citizenry more will require quite a lot of bureaucracies but also has a political consequence.....so the quicker option was to return to the ways and means while working on the fiscal policy options. As I predicted this, let me tell you what will happen in the coming year or two under this government.

1. Inflation will conntinue to get worse
2. Exchange rates will prevaricate between 1200 and 1500ish to a dollar...that is the true value of the naira now
3. There will be increased taxes soon( increased VAT is being proposed)
4. Expect a lot of foreign loans or Tinubu going cap in hand to beg for them at every opportunity
5. Ways and means will continue to be used as an alternative for funding the government expenses
6. The continued disjoint between fiscal and monetary policies will not abate. CBN fighting inflation using monetary policies while the Govt is increasing inflation through an expansionary budget and spending(e.g Money being given out to some citizens lately as social initiatives that are not backed by any economic production).

You are free to abuse, curse and attack me as some did months ago, I'm sure they are eating their words now. The above will happen.

heysquare:

Borrowing from one treasury isn't a crime is even better from talking loan from Foreign countries. No o countries can even match what US is taking from their treasury including minting

Is that so??

Are you on the same level of development with US?

or you just like comparison??

The most useless criminal government in history.

Blaze14k:


https://leadership.ng/cbn-takes-down-report-on-fresh-n3-8tn-from-ways-means-loans/

imagine…illegally withdrawn more than 20 trillion in less than a year…a person must become a fool without a functioning brain to have believed tinubu was capable of fixing the country…smh

Tendd:
That amount is very much to have been borrowed by the present administration in this short while.I am certain,they meant Buhari's government.

^^^


Who is bankrolling you?

Some foolish ppl put a well know criminal into power by hook and crook all because of tribal n religious sentiments.

He has milked Lagos state from 1997 till he became governor... Now , nah Nigeria be the cashcow


Tulumbu is evil

Cindypresh:


Is that so??

Are you on the same level of development with US?

or you just like comparison??

Mention one country including developed country that doesn't borrow to finance projects

heysquare:

Mention one country including developed country that doesn't borrow to finance projects

Which of them do you want to compare your country with let's do it??

DMerciful:
You're missing the point. The point is not about borrowing but govt lying to the citizens.

It is also about lack of transparency. You said there is no more subsidy when it obvious there's subsidy. Experts are saying there's subsidy, govt is saying no subsidy, who do citizens believe?

All these reduces confidence and no foreign investor will invest in a country the citizens do not have confidence in the economy

A government made up of desperate ppl who rented fake Bishops, with false certificates and identity can never mean well for the masses.

What do you expect?
They have continued with their lies.

CrossRhodes:

They don print money taya

Oh nigeria, thy day cometh when your glory will be restored, but these evil doers and their supporters will never live to see it.

Amen.

Blazetrailer:
This action of devaluation without thinking has set the economy back 20 years.

Tinubu (a drug baron cum certified treasury looter) getting his hands on the Nigerian Treasury has finished Nigeria. Just watch as it all unravels and the criminality and sheer GREED in Tinubu (that was never hidden or disguised) will be clear for all decent Nigerians to finally see for themselves.

Only an act of God can save Nigeria and Nigerians from Tinubu's vice like grip.