Then how the Bleep are we supposed to develop as a nation and resist borrowing...... Dumbfucks we have as leaders

adenigga:

Source: https://punchng.com/Debt-servicing-rises-gulps-72%-of-FG-revenues

Sai Baba

cc:
All BMCs
Mannabbqgrill for a government that can never be wrong

ChiefSosa:

God is busy, he has other sensible things to do with his time.

Walai

You see this evil that this government is doing.

Unfortunately even the unborn will pay part of it.

Obasanjo helped us clear all our debt this foolish man and his administration has dragged us back into it.

Imagine paying 70% of your earning as debt servicing not debt paying ooo.

It pains me to the heart that animals cow head are ruling is and more importantly the people that will pay the price are also hailing the.

over to you. Can you see your dad?

nokspos:
This country will soon become a family house where everybody leaves eventually but comes back once in a while for a visit

Bros it already is..

Have you seen how many Nigerians are now in western nations??

Even lots of people are gladly considering moving to other african country.

nograv:


Bros it already is..

Have you seen how many Nigerians are now in western nations??

nokspos:
Even lots of people are gladly considering moving to other african country.

I have family who have moved to Ghana and South Africa..

And the idiot keeps borrowing, how can anyone justify such I don't need to be an economist to see what is happening in life
when you have to borrow to feed or pay your bills then you are in a ditch, let's no cofus e this for those who borrow to expand their business, as the former is not sustainable, in two years the idiot will be out of office who gets to clean up after him?

Maybe you're emphasizing your own shortcomings

Go back and check the tread.

Seniorwriter:


BTW @Yankee101 but why didn't you respond to my reply....isn't that a red flag to healthy negotiations staying mute to a nego convo? I noticed that so many Online Remote Working Nigerians fail in reply ethics. I hope you are not towing such line...

@Seniorwriter

lexy2014:
, TheRareGem1, onionbandit, cilicmarin, black panda, okefranci, ur esteemed thoughts are needed on this thread. Why are u silent? Isn't this an opportunity to blame PDP, IPoB and nnamdi kanu for FG using 70% of it's revenue to service debts? Does d osinbajo crew not have any praise singing words for osinbajo and motivational article from osinbajo to help explain this phenomenon?

Most of the borrowings are from China who give out money with lesser interest compare to USA and other developed countries; these moneis are being use and used to execute projects; roads, bridges rails, aviation, health facilities, Human empowerment schemes, agriculture etc. The only difference between this administration and the previous ones is that we are seeing what they are using it for unlike then, all you will hear is the borrowing without using it to do what's meant for.
Government has started paying up chenese debt.

Let's not forget that number of companies that pay tax has skyrocketed too and the executive order 007 is also helping, a great initiative by this admin.

Also bear in mind that, the way to see money too is when you execute project like road, bridges and other heavy project if you understand what I mean

TheRareGem1:

Let's not forget that number of companies that pay tax has skyrocketed too and the executive order 007 is also helping, a great initiative by this admin.

So d number of companies that pay taxes has "skyrocketed" which means more revenue for d govt& d govt decides to use 73% of it's revenue for debt servicing. Where's d logic in that?

How is executive order 007 helping and what is it helping to do?

TheRareGem1:


Most of the borrowings are from China who give our money with lesser interest compare to USA and other developed countries

Wait oh. Let me get u straight. U say d loans are gotten from China with lesser interests than d US et al. Yet d govt is using a whopping 73% of it's revenue to service a cheap loan. How is that cheap?

TheRareGem1:

These moneis are being use and used to execute projects; roads, bridges rails, aviation, health facilities, Human empowerment schemes, agriculture etc.

Where are these things u are talking about? U mentioned health facilities. Pls which health facilities? D loan was used to build health facilities, yet bihari still goes to London for check up? Who is deceiving who? Roads, bridges...where pls? Aviation? Where? Which human empowerment scheme are u referring? Agriculture? Which agriculture? Where's d result of all this? Rail? Yes that's good. But is it d same rail that keeps breaking down?

TheRareGem1:


The only difference between this administration and the previous ones is that we are seeing what they are using it for unlike then, all you will hear is the borrowing without using it to do what's meant for.

Don't even start to compare this administration with d previous because u will end up shooting urself in d foot a million times. What did this administration promise, what has it delivered? What are it's constitutional responsibilities to Nigerians, how has it carried them out?

lexy2014:


So d number of companies that pay taxes has "skyrocketed" which means more revenue for d govt& d govt decides to use 73% of it's revenue for debt servicing. Where's d logic in that?

How is executive order 007 helping and what is it helping to do?

The administration through her initiative has increase the number of tax paying companies and please note, these companies; some have less than 20mollion turn over, and the financial act is crystal clear ( if you have a lesser turn over, you won't file tax) and big companies that on another side venture into agric as the government is trying so hard to diversify the economy, such company won't pay tax for a specific period which is somehow similar to EO007 which enables private sector companies to execute government project and a tax relief is granted for number of specified years; like Dangote that executed Kaba, Apapa - Oworonshoki with cements, would have this gesture from the government also NLNG that is executing Bonny boddo bridge and road in River state too will get this benefit. By and large, these are economically beneficial..

No country develop without applying for loan actually, if Nigeria receives loan the best thing is use it wisely, if you know trillion of dollar the USA is currently owing KSA, isn't it obvious what they are usinyit for, Nigeria just need to inculcate the habit of using it judiciously, execute projects.....when money flows, economy is impacted positively.

omoyankee3:
This is really bad.....

If crude oil prices falls to $50/barrel (and stays there), then 100% of revenue would have to be used to service debt.

If it falls below $50, then Nigeria would need to borrow money to service its debt OR default on loans and public infrastructures become properties of foreign entities.

I said it here before that the Nigerian people should pray that Iran and America never makes Peace! If they do, Nigeria is gone... If the Iran's embargo is lifted and Iran starts pumping her cheap billions of oil to Nigerias traditional oil markets, the global oil prices will thank! Nigeria will struggle to earn enough money o breath from oil sales... That's when the real impact of these mindless borrowings will start to tell on Nigerians in ways that will force them to ask difficult questions..

lexy2014:


Don't even start to compare this administration with d previous because u will end up shooting urself in d foot a million times. What did this administration promise, what has it delivered? What are it's constitutional responsibilities to Nigerians, how has it carried them out?

Previous admins were the eras of receiving loans and not using the loan to implement projects, forget. If they had use monies boweored well, this admin won't have any reason to borrow and that's it. Plus interest wasn't this high then. So you should understand.

So it's only rail you see? Well that's something, road, bridges,aviation ...you should visit the portal or social media platforms of aviation ministry and works and housing, you will be updated. When it comes to Infrastructure, you can't just take it away from this Administration. Them they execute projects across board.

TheRareGem1:

Previous admins were the eras of receiving loans and not using the loan to implement projects, forget. If they had use monies boweored well, this admin won't have any reason to borrow and that's it. Plus interest wasn't this high then. So you should understand.

So it's only rail you see? Well that's something, road, bridges,aviation ...you should visit the portal or social media platforms of aviation ministry and works and housing, you will be updated. When it comes to Infrastructure, you can't just take it away from this Administration. Them they execute projects across board.

Did any of my questions ask u about past administration and d loans they collected? U haven't answered d questions I asked:

1. What did this administration promise, what has it delivered?

2. What are it's constitutional responsibilities to Nigerians, how has it carried them out?

3. Since u have visited d social media platform of d aviation ministry, works and housing, how come u aren't able to update me on what u have been updated?

4. What was d interest rate on loans borrowed by previous administrations compared to this administration?

5. From who did previous administrations get loans? From who did this administration get loans?

TheRareGem1:


The administration through her initiative has increase the number of tax paying companies and please note, these companies; some have less than 20mollion turn over, and the financial act is crystal clear ( if you have a lesser turn over, you won't file tax) and big companies that on another side venture into agric as the government is trying so hard to diversify the economy, such company won't pay tax for a specific period which is somehow similar to EO007 which enables private sector companies to execute government project and a tax relief is granted for number of specified years; like Dangote that executed Kaba, Apapa - Oworonshoki with cements, would have this gesture from the government also NLNG that is executing Bonny boddo bridge and road in River state too will get this benefit. By and large, these are economically beneficial..

No country develop without applying for loan actually, if Nigeria receives loan the best thing is use it wisely, if you know trillion of dollar the USA is currently owing KSA, isn't it obvious what they are usinyit for, Nigeria just need to inculcate the habit of using it judiciously, execute projects.....when money flows, economy is impacted positively.

Virtually everything u said has no direct relationship with what I asked u. U are making contradictory, ambiguous & bogus with no specifics.

U were boasting earlier that d number of tax paying companies in Nigeria have "skyrocketed" yet u are telling us that executive order 007 exempts companies from paying taxes. So where is d "skyrocketing" in terms of number of companies paying taxes coming from?

So d number of companies that pay taxes has "skyrocketed" which means more revenue for d govt& d govt decides to use 73% of it's revenue for debt servicing. Where's d logic in that?

How is executive order 007 helping and what is it helping to do? How has d economy improved?

Who is d "Nigeria that just need to inculcate the habit of using it judiciously, execute projects..."? Where is d judicious execution of projects in this administration?

"While Nigeria is spending over $1.5 billion dollars to construct 156km standard gauge Lagos-Ibadan railway line, the Ghanaian government has concluded plans to begin the construction of a 340km standard gauge railway line at the cost of $2.2 billion."

Is this ur definition of "judicious execution of projects".

TheRareGem1:


So it's only rail you see? Well that's something, road, bridges,aviation ...you should visit the portal or social media platforms of aviation ministry and works and housing, you will be updated. When it comes to Infrastructure, you can't just take it away from this Administration. Them they execute projects across board.

My previous post to u goes thus& u are yet to answer any of d questions:

1. Where are these things u are talking about?

2. U mentioned health facilities. Pls which health facilities?

3. D loan was used to build health facilities, yet bihari still goes to London for check up? Who is deceiving who?

4. Roads, bridges...where pls?

5. Aviation? Where?

6. Which human empowerment scheme are u referring?

7. Agriculture? Which agriculture? Where's d result of all this?

8. Rail? Yes that's good. But is it d same rail that keeps breaking down?

9. U say "they execute projects across board". Oya, tell us d projects executed across board