SmartPolician:


You people should stop making every thread on Nairaland South West Vs South East. It's sickening. Nigeria is bigger than these two ethnic groups!

I don tire for these people

Nairaland has been reduced to a dump cause of them.
Visitors here would think only Yoruba and Igbo we have in this country.
One can hardly find any meaningful information here cause of them and their stupid fight for ethnic superiority

Those debts went into personal pockets.

Bestmanfornow:


https://nairametrics.com/2024/09/05/top-10-nigerian-states-with-highest-external-debt-service-costs-in-2024/

But they said Obi didn't do anything in Anambra, but Lagos that was built by druggie was the number one on the list but disguised and placed to be the last state mentioned...

Infact no eastern state here... Incredible... North and west holding the country like say na only them God dey their back, have a long way to go...

Body just dey do me tinini Tanana...

SmartPolician:


Lagos State government is building some of the best infrastructural projects you can see anywhere in the country. For instance, the railway network and trains the state is investing in costs a lot of money.

Little wonder no state or region in Nigeria dares to venture into such projects. However, Lagos State needs it to reduce its transportation challenges and pride itself as having world-class infrastructure as seen in other cities in its league.

At what cost?

SmartPolician:


You people should stop making every thread on Nairaland South West Vs South East. It's sickening. Nigeria is bigger than these two ethnic groups!

Nigeria can't be big with states that have huge debts and states with zero debts... Even Nigeria on federal level, can't be big with huge debts on its neck...

So forget wetin you dey talk...

immortalcrown:
If you are not the idiot, explain how someone who can read and write is an illiterate.

This just explains everything.
That you think reading and writting means you have education is the first sign that you are an illiterate.
In the 21st century illiteracy is not the inability to read and write.
It is actually the inability to think.
You have that disability.
You dont think

SmartPolician:


Lagos State government is building some of the best infrastructural projects you can see anywhere in the country. For instance, the railway network and trains the state is investing in costs a lot of money.

Little wonder no state or region in Nigeria dares to venture into such projects. However, Lagos State needs it to reduce its transportation challenges and pride itself as having world-class infrastructure as seen in other cities in its league.

And no state is highly commercialised like Lagos... And if Lagos cant have good infrastructures In place, then the state and its government, are olodos...

They tax their state more and yet borrow the most.

SE are doing well

Ogun upon all the IGR

Tinubu is a drug criminal

immortalcrown:
No Eastern state among the top-ten debtors. Some Eastern states will likely join the top-ten soon as more criminals join to manage public offices.

I have had several arguments with some people regarding development across country. The quality of a government does not lie in how many infrastructures built but in how financially prudent the government is in building the infrastructures. This is why I never celebrated what the last regime did in Ebonyi. In 2019, someone almost fought me while defending the-then governor. Today, the airport for which the governor was over-hyped is yet to function. When the airport will function is not even the biggest question. How honest is the government about the cost of building the airport?

Lagos is number one on the list. Those who blame the Igbo people in Lagos for what happens in Lagos should explain how the Igbo people are responsible for the ranking of Lagos on this list.

Nigerians are very ignorant about debt.

Debt is an essential tool in development and in business. Many Nigerians seem to feel that low debts is a sign of good governance….it is not, neither is it a sign of bad government.

I have heard people applaud some governors for not taking loans, the question is how much development can these governors undertake within their limited IGR?


You celebrate that SE have low debts and Lagos has highest debt. Has it not occurred to you that people are fleeing the SE every day and the SE is one region nobody relocates to? The average Nigerian from other regions has no business in the SE, no relatives and has probably never visited the SE nor will he do so in his life because there is nothing to take him there. Whereas everybody has business or family in Lagos, it continues to attract residents and businesses.

The price you pay for a mindset that debt is not good is that your infrastucture is poor. As a result your high income earners, your educated, your elite, your professionals, your businessmen relocate to where the infrastructure exists for them to conduct business and live a better life. Since Income tax is paid where you reside, it is states with infrastructure (usually those who borrowed to build the infrastructure) that benefit from the increased IGR which they use to pay the loans to build the infrastructure.

It also affects your politics. Since all the enlightened and educated have relocated it is the dregs that become the political leaders and grassroot mobilizers. When an educated man from Abuja or Lagos wants to go into politics he is not in touch with the people so you end up throwing up charlatans as political leaders who have no clue when they get to office which is reflected in the quality of their governance. They build shoddy infrastructure which repels businesses that care are quality jobs and quality higher tax paying residents and the cycle of poverty continues

So the rich get richer and the poor get poorer. The rich can borrow more because they have richer residents. All because they poor think borrowing is a sin.

As an analogy Dangote borrowed to build his refinery, watch how his wealth will balloon with the launch of his refinery but the man with a gas station who is waiting to save the money from the profits of his 1 gas station before he expands will die with 1 gas station if he is lucky the station doesn’t close down.


I agree borrowing for foolish vanity projects like th airport is Ebonyi is wasteful and bad use of debt but I assure you the SE especially in the state it is now with all your high value indigenes having left the region will only get worse as the years go because your IGR cannot provide the infrastructure required to attract high quality tax residents. There is only so much IGR you can raise when you have decimated the quality of your residents. There is only so much IGR you can raise from farmers, okada riders etc. The only way most states can develop is to borrow to build infrastructure to attract high quality businesses and residents who will pay taxes to pay the loans. Lagos has highest debt true but who is paying for it? Those who fled the regions without infrastructure. Lagos just announced its 3rd rail line to be financed with borrowing….the loans will be paid from the IGR from the high income earners that have fled states that instead of borrowing to build infrastructure keep relying on taxes from okada riders etc to build roads.

The IGR of the entire SE is less than Ogun state talk less Lagos, yet Ogun state is struggling to fix its bad roads. So I hope that tells you the task ahead of the SE.

Exousiang01:


Most of you are just complete idiotic illiterates.
First of all,banks dont lend to the poor, they lend to the rich, they give loans to people who they are sure have the capacity to repay. So this actually shows the level of poverty in the east, and the fact that your brothers just arrived Lagos this morning on a night bus because they cant afford day transportation is another thing you should think about
The US and China are top on the list of countries with most public debt in the world.
That you think debt is a sign of underdevelopment is a shame in your education
Google top 10 countries with highest public debt and see for yourself.
You easterner are just pathetic, I feel pity for you as a human but I feel shame that we share the same passport.

Interesting, so Adamawa and Bauchi are rich to the extent banks lend them money but not lend to Kano. This one have tinubu economic sense. Are you shicago trained? You sounds like helinuess.

Southeast is blessed!

Exousiang01:


Most of you are just complete idiotic illiterates.
First of all,banks dont lend to the poor, they lend to the rich, they give loans to people who they are sure have the capacity to repay. So this actually shows the level of poverty in the east, and the fact that your brothers just arrived Lagos this morning on a night bus because they cant afford day transportation is another thing you should think about
The US and China are top on the list of countries with most public debt in the world.
That you think debt is a sign of underdevelopment is a shame in your education
Google top 10 countries with highest public debt and see for yourself.
You easterner are just pathetic, I feel pity for you as a human but I feel shame that we share the same passport.

You're the reall mugu here. You're busy comparing lagos to developed nations like the US and China. Is your lagos as developed as china or US?
Keep on justifying nonsense. I do not pity you. My pity is for your children, that will be affected by the brazen looting by your political thin gods. That is if you have any, mumu!

Exousiang01:


Most of you are just complete idiotic illiterates.
First of all,banks dont lend to the poor, they lend to the rich, they give loans to people who they are sure have the capacity to repay. So this actually shows the level of poverty in the east, and the fact that your brothers just arrived Lagos this morning on a night bus because they cant afford day transportation is another thing you should think about
The US and China are top on the list of countries with most public debt in the world.
That you think debt is a sign of underdevelopment is a shame in your education
Google top 10 countries with highest public debt and see for yourself.
You easterner are just pathetic, I feel pity for you as a human but I feel shame that we share the same passport.

Mr Man don't be a big for nothing bizaga, just listen to your empty self shameless anumpama

Exousiang01:


Most of you are just complete idiotic illiterates.
First of all,banks dont lend to the poor, they lend to the rich, they give loans to people who they are sure have the capacity to repay. So this actually shows the level of poverty in the east, and the fact that your brothers just arrived Lagos this morning on a night bus because they cant afford day transportation is another thing you should think about
The US and China are top on the list of countries with most public debt in the world.
That you think debt is a sign of underdevelopment is a shame in your education
Google top 10 countries with highest public debt and see for yourself.
You easterner are just pathetic, I feel pity for you as a human but I feel shame that we share the same passport.

Who is this Oluwole financial expert? First of, China is not even in top 10 on the list of countries with most debt, that would be the USA, UK, France and Germany. Secondly most of these countries are net international creditors meaning that their external assets are higher than their public debt. . Thirdly, have you checked the GDP per capita of the States in Nigeria? Those "poor" Eastern States are on the top 10 meaning that they are not poor states, just more prudent in handling their economy.
Oluwole financial expert Tell me your location so that I can recommend a good business school near you, it's for your own good. Oluwole financial expert.

PS. Make no mistake, I'm not criticising States with high debts, if the debt is used for something that is profitable then it's actually a good thing so far as the State can service the debts without running into bankruptcy.

INVINCIBLECSP2:
I know Lagos will be there. Thiefnubuu wrecked that state and she is yet to recover. Criminal drug dealer.

As for jobless Yarimo, you all should know from today on that he/she is an EP
ENEMY OF PROGRESS . His a poor urchin and really want everybody to be miserable like he/she.
Jobless tout😡😡😡😡

Obviously, jobless ethnic bigot. He's the most unlettered person I have seen

casualobserver:


Nigerians are very ignorant about debt.

Debt is an essential tool in development and in business. Many Nigerians seem to feel that low debts is a sign of good governance….it is not, neither is it a sign of bad government.

I have heard people applaud some governors for not taking loans, the question is how much development can these governors undertake within their limited IGR?


You celebrate that SE have low debts and Lagos has highest debt. Has it not occurred to you that people are fleeing the SE every day and the SE is one region nobody relocates to? The average Nigerian from other regions has no business in the SE, no relatives and has probably never visited the SE nor will he do so in his life because there is nothing to take him there. Whereas everybody has business or family in Lagos, it continues to attract residents and businesses.

The price you pay for a mindset that debt is not good is that your infrastucture is poor. As a result your high income earners, your educated, your elite, your professionals, your businessmen relocate to where the infrastructure exists for them to conduct business and live a better life. Since Income tax is paid where you reside, it is states with infrastructure (usually those who borrowed to build the infrastructure) that benefit from the increased IGR which they use to pay the loans to build the infrastructure.

It also affects your politics. Since all the enlightened and educated have relocated it is the dregs that become the political leaders and grassroot mobilizers. When an educated man from Abuja or Lagos wants to go into politics he is not in touch with the people so you end up throwing up charlatans as political leaders who have no clue when they get to office which is reflected in the quality of their governance. They build shoddy infrastructure which repels businesses that care are quality jobs and quality higher tax paying residents and the cycle of poverty continues

So the rich get richer and the poor get poorer. The rich can borrow more because they have richer residents. All because they poor think borrowing is a sin.

As an analogy Dangote borrowed to build his refinery, watch how his wealth will balloon with the launch of his refinery but the man with a gas station who is waiting to save the money from the profits of his 1 gas station before he expands will die with 1 gas station if he is lucky the station doesn’t close down.


I agree borrowing for foolish vanity projects like th airport is Ebonyi is wasteful and bad use of debt but I assure you the SE especially in the state it is now with all your high value indigenes having left the region will only get worse as the years go because your IGR cannot provide the infrastructure required to attract high quality tax residents. There is only so much IGR you can raise when you have decimated the quality of your residents. There is only so much IGR you can raise from farmers, okada riders etc. The only way most states can develop is to borrow to build infrastructure to attract high quality businesses and residents who will pay taxes to pay the loans. Lagos has highest debt true but who is paying for it? Those who fled the regions without infrastructure. Lagos just announced its 3rd rail line to be financed with borrowing….the loans will be paid from the IGR from the high income earners that have fled states that instead of borrowing to build infrastructure keep relying on taxes from okada riders etc to build roads.

This is how you guys are fooling yourselves, does it occur to you that some of your people are fleeing and coming to southeast, that how your kinsmen has ended up messing Nigeria economy up with their silly thoughts, that's why your region is sinking with debt, you borrow to do everything and you think you are progressing?

SmartPolician:


You people should stop making every thread on Nairaland South West Vs South East. It's sickening. Nigeria is bigger than these two ethnic groups!

You have a point but if you take away those two groups what would remain?
Dry bones!!

Exousiang01:


Most of you are just complete idiotic illiterates.
First of all,banks dont lend to the poor, they lend to the rich, they give loans to people who they are sure have the capacity to repay. So this actually shows the level of poverty in the east, and the fact that your brothers just arrived Lagos this morning on a night bus because they cant afford day transportation is another thing you should think about
The US and China are top on the list of countries with most public debt in the world.
That you think debt is a sign of underdevelopment is a shame in your education
Google top 10 countries with highest public debt and see for yourself.
You easterner are just pathetic, I feel pity for you as a human but I feel shame that we share the same passport.

You should pity for your children that will inherit looting going on in your region. Then you will blame Igbos.

BeigJawnson:



But they said Obi didn't do anything in Anambra, but Lagos that was built by druggie was the number one on the list but disguised and placed to be the last state mentioned...

Infact no eastern state here... Incredible... North and west holding the country like say na only them God dey their back, have a long way to go...

Body just dey do me tinini Tanana...

You know what , I don't like discussing Lagos because it's a sad story. That state pumps so much money but it goes into the pocket of one man, Tinubu. The Lagosians are also comfortable with their criminal tinubu.

immortalcrown:
No Eastern state among the top-ten debtors. Some Eastern states will likely join the top-ten soon as more criminals join to manage public offices.

I have had several arguments with some people regarding development across the country. The quality of a government does not lie in how many infrastructures built but in how financially prudent the government is in building the infrastructures. This is why I never celebrated what the last regime did in Ebonyi. In 2019, someone almost fought me while defending the-then governor. Today, the airport for which the governor was over-hyped is yet to function. When the airport will function is not even the biggest question. How honest is the government about the cost of building the airport?

Lagos is number one on the list. Those who blame the Igbo people in Lagos for what happens in Lagos should explain how the Igbo people are responsible for the ranking of Lagos on this list. The ranking of Lagos here shows how "he built Lagos".

Focus on your useless State your fool.

You quarrel with Yorubas over Lagos.

You quarrel with Ebonyians over Ebonyi.

You quarrel with Ikwerre over Rivers state.

Only you hated everywhere. While nobody is concerned with what goes on in your useless state, yet you put mouth everytime in affairs of other states. Even though you are not an indigene nor allowed to vote.

Go back to your state and leave Ebonyi alone. Focus on your own state governor, local governments as well as the FG.

viccy12:


You know what , I don't like discussing Lagos because it's a sad story. That state pumps so much money but it goes into the pocket of one man, Tinubu. The Lagosians are also comfortable with their criminal tinubu.

Face your Potopoto IPOB invested region and stop intrusion. Whether Lagos borrow or not of your business

Bestmanfornow:

This is how you guys are fooling yourselves, does it occur to you that some of your people are fleeing and coming to southeast, that how your kinsmen has ended up messing Nigeria economy up with their silly thoughts, that's why your region is sinking with debt, you borrow to do everything and you think you are progressing?

Nobody of non SE origin relocates to the SE! There is nothing there! What is he looking for? A place the indigenes are fleeing? What is it the SE currently offers? Is it peace, is it infrastructure, is it good jobs, is it business. What? In the 60s to 80s yes. Not today and not for a while.

Ttalk:


Face your Potopoto IPOB invested region and stop intrusion. Whether Lagos borrow or not of your business

Shut up , you little rascal!

casualobserver:


Nobody relocates to the SE! There is nothing there! In the 60s to 80s yes. Not today and not for a while.

Just because you have no business sense doesn't mean others are like you. Travel a little , you caveman!

casualobserver:


Nobody relocates to the SE! There is nothing there! In the 60s to 80s yes. Not today and not for a while.

A small child that has never left his father's compound will think his father's house is the biggest, my friend travel and see, travelling is part of education, that's the propaganda they have used to deceive you guys, then you will know outside Lagos you guys are backward.

viccy12:


Just because you have no business sense doesn't mean others are like you. Travel a little , you caveman!

I have friends. None of them who are non Ibo have any business in the SE.

Which institutions or factories or amenities do you have that will attract a non Ibo professional to relocate to the SE?

Bestmanfornow:

A small child that has never left his father's compound will think his father's house is the biggest, my friend travel and see, travelling is part of education, that's the propaganda they have used to deceive you guys, then you will know outside Lagos you guys are backward.

I don hear!

casualobserver:


I have friends. None of them who are non Ibo have any business in the SE.

Which institutions or factories or amenities do you have that will attract a non Ibo professional to relocate to the SE?

Just watch your people in Nnewi

https://www.youtube.com/watch?v=zP53_mj2FgA?si=rit-d0pteZy3u_83

Bestmanfornow:

Just watch your people in Nnewi

https://www.youtube.com/watch?v=zP53_mj2FgA?si=rit-d0pteZy3u_83

Look at the quality of people you are showing me in the video?

I am talking about professionals, architects engineers, doctors, accountants, lawyers, people who pay high taxes that can raise IGR you are showing me riff raff? How much taxes do the kind of people you are showing me in this video pay?

Your professionals, architects engineers, doctors, accountants, lawyers are in Lagos Abuja, Rivers and increasingly Ogun that’s why their IGR is high and yours is low.

Show me a prominent yoruba lawyer SAN, medical doctor, engineer, architect that is based in the SE. these are the people that pay taxes in the millions-billions that raise your IGR and employ other professionals that pay high taxes. Not riff raff that collect rice palliative.

Such high earning professionals attract others but they require a certain level of infrastructure to move to an area. The SE doesn’t have it so they don’t exist there. Even the majority of your high profile professionals, architects engineers, doctors, accountants, lawyers don’t operate out of the SE! That is why your IGR is low!

Just 1 successful professional will contribute more to a states IGR than 1000 of this people you are showing me. The difference between “high debt” Lagos and the SE is that there are thousands of these high value professionals in Lagos but very few if any in the SE.

If anything your video just proves my point about the quality of people you attract.