anorexicmuster:
They are borrowing for the same reason we have always borrowed...we rely on revenue from selling a single resource whose price is never at the level we want it to be....thus the revenue is not enough

We also spend a lot of that revenue on subsides for the power and oil sector. Which rise month by month because the thing about subsides is that it is the amount of money one pays to keep prices low. And by extension it rises because production costs rise. And it also has the effect of keeping profits down and investment away...and by extension more revenue is lost. So we throw away revenue to lose revenue.

We could end all this by

1. Removing subsides (which Nigerians don't want)

2.Transiting to an industrial economy (which Nigerians don't want...we want to have a house full of imported goods)

3.Raising taxes on the 70% of the taxable population who are not taxed (which Nigerians don't want because we are too poor, including those who have cars, DSTV, and phones, and laptops...we are all too poor...)

4.Fight corruption(which Nigerians don't want because it means you hate Ibos, Hausas, Yourbas, Ijaw, etc...and you are an agent of Zionists, or American imperialists...and you are a bigot, and you also are being partial. Go away, BMC , or Tanoid)


P.S If you break up the country...each of the new countries will in a few weeks receive a call from the saintly and kind Mother IMF and her beloved and beautiful son World Bank , informing them of their share of the debt of the recently deceased Nigeria...and setting a schedule for payment...and if you refuse to pay, well, it is certainly going to be trobulesome.....)

P.S 2

We cannot stop taking loans. Either the price of oil rises beyond $140 per barrel, or at least stays at $133 for a year or more, for us to have a balanced budget....

The thing is, oil is not enough to sustain us. Either we find a way of selling more raw materials, or we all go on half rations .

ps3.

And this isn't an excuse of Bubu. If anything, the guy has not done what needs to be done...as can be seen by my above points.

lexy2014:


who are d nigerians that dont want subsidy removal? who does d so called subsidy benefit d most? is it d guy or d street or d people who tell u that they are paying subsidy?

who are d nigerians that dont want d nigerian economy to transition to an industrial economy? are u one of them? if u are then, why are u pointing fingers? is it d average nigerian that is responsible for d state of nigerias industrial sector?

how did u arrive a t d conclusion that 70% of nigerians arent taxed? with all d taxes being taxed on a daily basis, can u show me d effect it has had on d lives of d average nigerian?

does nigerian need more money or better money managers?

anorexicmuster:


What would you do of you were in power instead of Buhari.?

I really would like to know. Buhari has failed as we both know, so what woild you do?

And stop shouting. I am.not in governemt. I have outlined my solutions to the problem. Now I want to know yours.

Racoon:
Keep on borrowing and mortgaging the shithole of a nation.No sane nation survives based on chronic ill conceived borrowings especially in with mono-economy with poor GDP:Debts while using more than 80% generated revenue to service debts.

lexy2014:


u havent answered d questions:

who are d nigerians that dont want subsidy removal? who does d so called subsidy benefit d most? is it d guy or d street or d people who tell u that they are paying subsidy?

who are d nigerians that dont want d nigerian economy to transition to an industrial economy? are u one of them? if u are then, why are u pointing fingers? is it d average nigerian that is responsible for d state of nigerias industrial sector?

how did u arrive a t d conclusion that 70% of nigerians arent taxed? with all d taxes being taxed on a daily basis, can u show me d effect it has had on d lives of d average nigerian?

does nigeria need more money or better money managers?

anorexicmuster:


Okay, I assume that you will keep subsidies, even when the oil money is not enough to pay for them, meaning you will get us into more debt, or you would run a system of total austerity to keep the budget balanced

You would also tax the rich and make sure that we make up for more shortfalls in revenue from the taxes by taking on more debt.

And you are a wise money manager, so you will manage our money well.

Good evening. As for me , I stand by what I wrote. Take it as it is, and as an answer to your questions. Sorry it isn't one you like.

Omooba77:


Nigeria 2022 budget will be N6.3 Trillion deficit and will be borrowed.... in the words of my Daddy, Ash Rocks is going, going and Mr. President will relocate to Daura....More than half of 2020/2021 still in red..... Anyway the borrower is a servant to Lender.. QED,

Maxymilliano:
Buhari has elevated borrowing to a state of art, to him, every economic issues must be tackled by borrowing with no accountability on budget performance every fiscal year

SenatePresdo:
Na Fulani Generation and that of Yorubas go pay am Las Las...

Racoon:
Keep on borrowing and mortgaging the shithole of a nation.No sane nation survives based on chronic ill conceived borrowings especially in a mono-economy with poor GDP:Debts while using more than 80% generated revenue to service debts.