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Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode - Politics (1611) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode (1241579 Views)

Fayose Shuts Down Access Bank Branch Over Fani-Kayode's Wife's Detention / Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) / What Buhari Promised Nigerians Vs What He Has Delivered - Kenyans Blast Nigerian (2) (3) (4)

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Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by Shma2022: 12:47pm On Nov 08, 2022
Just40:
your minister has already done the comparison for you.

Paying 4 billion dollars for just 480km SGR is just insane ... Now you want China to give you another money so you can extend it from Nairobi to naivasha and they are saying no because you've already defaulted on the 4 billion dollars.
SAVE WORDS.

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by vankelvin: 12:48pm On Nov 08, 2022
Shma2022:

No, it's a high-voltage strategic decision. We don't want to fall into economic quagmire like ghana. We can pay SGR debt easily, [b]but re-structuring debt payment period to a longer time, will make it more easier and less training to service it. [/b]Since we will now have to focus on other profit-accruing projects.
Why would you want to extend your debt payment? It's because you are highly indebted, broke and cannot pay as per the original contract stipulates

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by obaaderemi: 12:52pm On Nov 08, 2022
Just40:
no one is envious that you paid 4 billion for 480km SGR

How do you call a loss making business successful?
grin I was wondering too

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by obaaderemi: 12:56pm On Nov 08, 2022
Just40:
Private property cannot be collateralized crazy kid.

Desperate as usual.... The Bui dam project was a profitable businesses and it finished paying it debt in 4 to 5 years to the Chinese.... In 2 years of operation, the Chinese engineers were kicked out and replaced because half payment had already been made.

Compare that to your SGR were you paid 20 billion shillings into Escrow and still managed to sign unto clauses that says your KPA can be seize should you default on any debt obligation

Worse of all, you knew that your SGR will never be profitable to be able to pay that loan
The minister who had more information than this boy already rubbished the sgr deal. Why are you still having a back and forth with this one that knows only what he reads on nairaland?

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by gallivant: 12:57pm On Nov 08, 2022
obaaderemi:
grin I was wondering too

I was also wondering if the terrorists have allowed Nigerian train operations to resume. Just wondering...

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by gallivant: 12:59pm On Nov 08, 2022
obaaderemi:
The minister who had more information than this boy already rubbished the sgr deal. Why are you still having a back and forth with this one that knows only what he reads on nairaland?

It's called politics. Kenyans know more about our country than some keyboard economists from the backwater countries.
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by obaaderemi: 1:03pm On Nov 08, 2022
Nigeria's foreign debt ----- $40bn
Kenya's foreign debt------- $36bn
Kenya is on the brink.

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by GeneralDae: 1:07pm On Nov 08, 2022
gallivant:


I was also wondering if the terrorists have allowed Nigerian train operations to resume. Just wondering...
Lol, Nigerian trains (Warri to Itakpe) and (Lagos to Ibadan) have been running. Abuja to Kaduna resumes again soon.
Warri to Itakpe would extend to Abuja (work to begin), others on course across the country except Lagos to Calabar which has been halted for now.

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by Just40: 1:09pm On Nov 08, 2022
Shma2022:

Go and lie to fools. International monetary fund and WB are both projecting your debt to GDP at 100+% by the start of next year.

You're currently doing a whopping 78% with nothing to show.
https://theconversation.com/ghana-and-the-imf-debt-restructuring-must-go-hand-in-hand-with-managing-finances-better-191877

like you said... Projection but at the moment it is 68%

Only a fool like you rely on projections ...

Boy we have show much to show for our borrowing.. we own profitable assets by investing debt into our oil and gas sector which churns out lots of money for us from now into the future.
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by GeneralDae: 1:10pm On Nov 08, 2022
obaaderemi:
Nigeria's foreign debt ----- $40bn

Kenya's foreign debt------- $36bn

Kenya is on the brink.
36 Billion dollars?? African countries need to learn. You can't go on a borrowing spree like Egypt who have those Arab nations to support them in times of crises.
If you want to borrow, first borrow to build projects that would pay for your infrastructure.

4 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by Just40: 1:11pm On Nov 08, 2022
obaaderemi:
The minister who had more information than this boy already rubbished the sgr deal. Why are you still having a back and forth with this one that knows only what he reads on nairaland?
I even wonder why I'm replying him on this matter

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by obaaderemi: 1:14pm On Nov 08, 2022
GeneralDae:

36 Billion dollars?? African countries need to learn. You can't go on a borrowing spree like Egypt who have those Arab nations to support them in times of crises.
If you want to borrow, first borrow to build projects that would pay for your infrastructure.
Especially resource poor and badly managed countries like Kenya. The day of reckoning draws near for them.

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by obaaderemi: 1:15pm On Nov 08, 2022
Just40:
I even wonder why I'm replying him on this matter
Abi. An insider already spoke. This one you are replying will keep twisting you around with projections and lies.

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by gallivant: 1:31pm On Nov 08, 2022
GeneralDae:

Lol, Nigerian trains (Warri to Itakpe) and (Lagos to Ibadan) have been running. Abuja to Kaduna resumes again soon.
Warri to Itakpe would extend to Abuja (work to begin), others on course across the country except Lagos to Calabar which has been halted for now.

Thanks for the update. smiley
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by gallivant: 1:33pm On Nov 08, 2022
Just40:
I even wonder why I'm replying him on this matter

Right, you should be plotting your escape to Europe on a dingy like every other young able-bodied Ghanaian with ambitions in the future.
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by Just40: 1:43pm On Nov 08, 2022
obaaderemi:
Abi. An insider already spoke. This one you are replying will keep twisting you around with projections and lies.
grin grin grin

The entire document is even available online too, yet the kid is still lying

4 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by Just40: 1:44pm On Nov 08, 2022
gallivant:


Right, you should be plotting your escape to Europe on a dingy like every other young able-bodied Ghanaian with ambitions in the future.
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by Just40: 1:46pm On Nov 08, 2022
gallivant:


Right, you should be plotting your escape to Europe on a dingy like every other young able-bodied Ghanaian with ambitions in the future.
is that why you want to go and slave in Arabia?

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by rvp20182: 3:36pm On Nov 08, 2022
It because we can. You wish you had that leverage. You borrow from commercial eurobond - those you cant negotiate - because its not one person - it thousands of bond holders - same with domestic debt. You can negotiate debt with china or imf or worldbank or adb.
vankelvin:

Why would you want to extend your debt payment? It's because you are highly indebted, broke and cannot pay as per the original contract stipulates
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by rvp20182: 3:39pm On Nov 08, 2022
Debt management is a lot of things. Where you borrow, the interest rates, the maturity.
Kenya has one of Africa best debt management - despite our debt rising lately.
For example - compare kenya, nigeria and ghana external debt.
See where each borrowed from, for how much, and for how long - and who has pressure.

The pressure shows up in macro-economic indicators like currency, inflation, interest rates. Ghana is literally bursting the seams - and Akosombo is about rapture. Nigeria is not far. Kenya is very stable.

Ghana and Nigeria - most of their external debt is commercial - and as you know (if you do) - govs are not designed to be profitable.

They only become profitable when they grow taxes or revenues. Kenya is doing well there. Ghana and Nigeria are not.

Majority of kenya debt are concessional loans from adb,imf, worldbank, japan, france and china. Those ones can forgive you like they did Nigeria in 2005 - what was that 35B dollars written off. Their debt is more AID.

Now where problems start - Zambia and Ghana - you take eurobonds - and you soon die.

GeneralDae:

36 Billion dollars?? African countries need to learn. You can't go on a borrowing spree like Egypt who have those Arab nations to support them in times of crises.
If you want to borrow, first borrow to build projects that would pay for your infrastructure.
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by GeneralDae: 3:42pm On Nov 08, 2022
rvp20182:
Debt management is a lot of things. Where you borrow, the interest rates, the maturity.
Kenya has one of Africa best debt management - despite our debt rising lately.
For example - compare kenya, nigeria and ghana external debt.
See where each borrowed from, for how much, and for how long - and who has pressure.

The pressure shows up in macro-economics indicators like currency, inflation, interest rates.

If this is true then why do you rank so high in terms of debt unsustainability even in Africa?

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by rvp20182: 3:45pm On Nov 08, 2022
You want me to teach you English too. Our problem is debt to gdp - has risen - and debt servicing has bridge 30 percent. We have aggressively borrowed lately - we need to slow down - but our quality of loans is good.

Once we passed 50 percent debt to gdp - we have to started getting worried - and we have - and now we need to watch our debt like hawks watching chicken - otherwise we could become Ghana.

We have to refinance our debt, extend the maturity (take long tenure debt) so we can manage repayments, and general avoid commercial loans from banks or eurobond.

That is what we have been doing lately.

GeneralDae:

If this is true then why do you rank so high in terms of debt unsustainability even in Africa?

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by GeneralDae: 3:46pm On Nov 08, 2022
rvp20182:
Debt management is a lot of things. Where you borrow, the interest rates, the maturity.
Kenya has one of Africa best debt management - despite our debt rising lately.
For example - compare kenya, nigeria and ghana external debt.
See where each borrowed from, for how much, and for how long - and who has pressure.

The pressure shows up in macro-economic indicators like currency, inflation, interest rates. Ghana is literally bursting the seams - and Akosombo is about rapture. Nigeria is not far. Kenya is very stable.

Ghana and Nigeria - most of their external debt is commercial - and as you know (if you do) - govs are not designed to be profitable.

They only become profitable when they grow taxes or revenues. Kenya is doing well there. Ghana and Nigeria are not.

Majority of kenya debt are concessional loans from adb,imf, worldbank, japan, france and china. Those ones can forgive you like they did Nigeria in 2005 - what was that 35B dollars written off. Their debt is more AID.

Now where problems start - Zambia and Ghana - you take eurobonds - and you soon die.

Nigeria actually paid off about 12 Billion dollars then. Not all of the debts were forgiven and it wasn't just Nigeria then. Most African countries and many countries around the world had their debts forgiven. Nigeria also parted with over 12 Billion dollars in addition for the about 30 Billion dollars debt if I'm not mistaken.

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by rvp20182: 3:50pm On Nov 08, 2022
Commercial loans are hard to forgive. But if you borrow from bilateral and multilateral creditors - then apply right political pressure - they can cancel or extend.

For example world should have made china take some covid blame - and refuse to pay the loans until covid recovery. Kenya tried - got six months - but other countries refused to press china.

Avoid commercial loans from syndicated banks or eurobond if you can.

Africa economies right now are getting raptured by covid & ukraine war - none of it their making - and this time to call for another debt cancellation/restructuring - but if you borrowed from a commercial bank - they dont do that business - because it's depositor money. If you borrowed from say French gov - you're borrowing their taxes - nobody gives a damn.

GeneralDae:

Nigeria actually paid off about 12 Billion dollars then. Not all of the debts were forgiven and it wasn't just Nigeria then. Most African countries and many countries around the world had their debts forgiven. Nigeria also parted with over 12 Billion dollars in addition for the about 30 Billion dollars debt.

1 Like

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by obaaderemi: 3:58pm On Nov 08, 2022
rvp20182:
Commercial loans are hard to forgive. But if you borrow from bilateral and multilateral creditors - then apply right political pressure - they can cancel or extend.

For example world should have made china take some covid blame - and refuse to pay the loans until covid recovery. Kenya tried - got six months - but other countries refused to press china.

Avoid commercial loans from syndicated banks or eurobond if you can.

Africa economies right now are getting raptured by covid & ukraine war - none of it their making - and this time to call for another debt cancellation/restructuring - but if you borrowed from a commercial bank - they dont do that business - because it's depositor money. If you borrowed from say French gov - you're borrowing their taxes - nobody gives a damn.

Stop saying things you know nothing about.
Kenya just went begging before commercial banks for loans.
You scrapped your eurobond idea after you saw Nigeria do same. There's nothing to learn from a Kenyan when it comes to debt management.

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by rvp20182: 4:06pm On Nov 08, 2022
What do you know about kenya debt? I have read very pathetic report from your DMO about Nigeria debt. You should try read about Nigeria first before you read about Kenya.

Obaboon improve yourself - dont just heckle for the sake. Fact is your debt servicing ratio already exceeded revenues long time ago smiley

Start here -> https://www.dmo.gov.ng/

obaaderemi:
Stop saying things you know nothing about.
Kenya just went begging before commercial banks for loans.
You scrapped your eurobond idea after you saw Nigeria do same. There's nothing to learn from a Kenyan when it comes to debt management.

1 Like

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by Just40: 4:26pm On Nov 08, 2022
rvp20182:
Debt management is a lot of things. Where you borrow, the interest rates, the maturity.
Kenya has one of Africa best debt management - despite our debt rising lately.
For example - compare kenya, nigeria and ghana external debt.
See where each borrowed from, for how much, and for how long - and who has pressure.

The pressure shows up in macro-economic indicators like currency, inflation, interest rates. Ghana is literally bursting the seams - and Akosombo is about rapture. Nigeria is not far. Kenya is very stable.

Ghana and Nigeria - most of their external debt is commercial - and as you know (if you do) - govs are not designed to be profitable.

They only become profitable when they grow taxes or revenues. Kenya is doing well there. Ghana and Nigeria are not.

Majority of kenya debt are concessional loans from adb,imf, worldbank, japan, france and china. Those ones can forgive you like they did Nigeria in 2005 - what was that 35B dollars written off. Their debt is more AID.

Now where problems start - Zambia and Ghana - you take eurobonds - and you soon die.

Desperate as always

You keep forgetting that Ghana is not in a debt crisis which is what Kenya is in because Ghana only spend 30% of revenue on debt servicing.

Kenya is spending a whopping 76% of revenue on debt servicing which is the reason why you are currently unable to pay your Chinese debt.
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by rvp20182: 4:34pm On Nov 08, 2022
Where Ghana is at moment - is called hyperinflation - you should update yourself every few hours; Before you head for the shops; just carry twice the amount of money;
Just40:
Desperate as always

You keep forgetting that Ghana is not in a debt crisis which is what Kenya is in because Ghana only spend 30% of revenue on debt servicing.

Kenya is spending a whopping 76% of revenue on debt servicing which is the reason why you are currently unable to pay your Chinese debt.
Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by obaaderemi: 4:56pm On Nov 08, 2022
rvp20182:
What do you know about kenya debt? I have read very pathetic report from your DMO about Nigeria debt. You should try read about Nigeria first before you read about Kenya.

Obaboon improve yourself - dont just heckle for the sake. Fact is your debt servicing ratio already exceeded revenues long time ago smiley

Start here -> https://www.dmo.gov.ng/

Whenever you throw a tantrum I know you are hurting badly. Your government not only took eurobond but also went to a consortium of commercial banks for a loan.
I've been watching you make a monkey of yourself talking about other people taking eurobond and commercial banks' loans as if your hellhole doesn't do same.
Well, I don't blame you. You hardly know anything about what's going on in Kenya until we tell you here.

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by rvp20182: 4:58pm On Nov 08, 2022
Ghana the land of the golden stool worth 76 billion
copied..
one of the most outrageous bonds out there must be the $1bn lent to Ghana in 2015 at 10.75% interest with a $400m guarantee from the World Bank.A buyer of the bond in 2015 is already guaranteed to get $1.15bn. And they are still 'owed' $1bn, and $860m of interest payments

2 Likes

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by rvp20182: 5:04pm On Nov 08, 2022
kenya -> The share of commercial loans is now about 15% - less than 9 billion dollars. The rest are multilateral and bilateral creditors. We didnt issue Eurobond in 2021 - coz of interest rate - Ghana did - nigeria did. In fact the last Eurobond was somewhere in 2019 to retire the older Eurobond.

Nigeria has gone to Eurobond - including hilariously recklessly this year of 2022. You dont even care about the interest rates.

WHO DOES THIS Borrow commercial loan to fund FUEL SUBSIDY
https://www.reuters.com/world/africa/nigeria-offers-premium-raise-125-bln-eurobond-2022-03-18/
LAGOS/ABUJA, March 17 (Reuters) - Nigeria has priced a $1.25 billion Eurobond issue at 8.375%, its debt office said on Thursday, a premium compared to existing tenors as the country sought to raise cash to fund a costly petrol subsidy scheme in the face of limited oil revenue.

The latest debt issue marks Nigeria's eight outing on the Eurobond market after it sold a $4 billion debt in September and had been considering more issues before fears around the Omicron coronavirus variant led it to shelve plans. read more
obaaderemi:
Whenever you throw a tantrum I know you are hurting badly. Your government not only took eurobond but also went to a consortium of commercial banks for a loan.
I've been watching you make a monkey of yourself talking about other people taking eurobond and commercial banks' loans as if your hellhole doesn't do same.
Well, I don't blame you. You hardly know anything about what's going on in Kenya until we tell you here.

1 Like

Re: Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode by GeneralDae: 5:09pm On Nov 08, 2022
rvp20182:
Ghana the land of the golden stool worth 76 billion
copied..
one of the most outrageous bonds out there must be the $1bn lent to Ghana in 2015 at 10.75% interest with a $400m guarantee from the World Bank.A buyer of the bond in 2015 is already guaranteed to get $1.15bn. And they are still 'owed' $1bn, and $860m of interest payments
I believe that was the time Ghana was about going for their last IMF then (if I'm not mistaken), so the interest rate was always going to be outrageously high.

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