APC don finish this country patapata.

Angelfrost:


Maybe you are the ignorant one...!

Those nations are largely export-based and internally producing what they need.

They can afford to increase their debts to infinity...! They are credit-worthy and have super viable economies.

Let me break it down for you...

If Nigeria were a business venture, no sane bank will lend them a dime.

So, Nigeria's debt profile is ridiculous for a nation not producing anything and not harnessing her rich Resources... Not to mention being a seat of corruption and Wastage.

Let me indulge you, so the countries/ organisations giving Nigeria loans are mad people? Nigeria isn't credit worthy?

accordadoga27:


That zoo you will never rule.

Your plans have been failing since 1967 and they will keep failing.


2023-2031: SW

2031-2039: North

2039-2047: SS

2047-2055: SW

2055-2063: North

2064-2071: SS

2071-2079: MB

2079-2087: North

2087-2095: SS

2095-2103: MB

God bless the SW, SS, North and MB

Day dream. Go and buy your fuel at #620 and your dollar at #1,250 and stop bleating like a lost goat.

may enter N700 and we're still in October. Well someone said he'd continue from where Buhari stopped and so far it's been rinse repeat, trial and error so everyone should brave up.

Someone who claimed to know the solution to Nigeria's problems is now borrowing to service debt...

Where is the( free stuff guy) make him come read caption. And many are blindly, foolishly behind this clueless, directionless, plan less Tinubu Administration. Scheiss men!!

soberdrunk:



Let me indulge you, so the countries/ organisations giving Nigeria loans are mad people? Nigeria isn't credit worthy?

None of us is privy to what goes on when they sign those agreements...!

We don't know how much profit they make at the expense of the nation's progress.

Maybe you don't realize what debt servicing and interest repayment does to your nation's chances of growing economically.

I have no issue with the lender... The issue here is the borrower and what he does with the loans.


Look at the trillions already being owed and the ones set to be borrowed, and check the nation's growth trajectory... Compare that to other Nation's of the world.

If by Credit worthiness you mean ability to service loans while your nation deteriorates, then yeah... Nigeria is highly credit worthy.

Wetin them wan loot(share) put for pocket,clean mouth

It is now that the true test of leadership, of capacity to govern will be exposed.
If the ideas, the ways and means of this economic journey are similar to that of the past administration(s), won't the outcome, the result be the same?
Don't we think we ought to be doing something radical, something completely different to obtain a different result and a clean break from the past?

For example. Can we bond (real bond, not cash bonds) out our needs to the citizens of this country, that is the things we presently employ cash credit for. So that the options lie ahead whether government will be willing to let go of those assets if they cannot pay back.

Another example. I was listening to the airwaves this morning about the proposed PWC intervention in the mining sector geared towards restructuring it and with a view to 'attracting foreign investment'.

Foreign investment to do what exactly? To turn Nigeria mining to another cut and run enterprise?, to expand the saying that Africa is just a raw material supplier??.

For I cannot understand what investment is needed in mining as an industrial practice that is beyond our present capacity and my suspicion is that they intend to issue licenses to large multinationals who will come in, strip these minerals, export them on a cheap and leave the communities and the vast majority of the citizens in penury and conflict while creating cartels and enriching the very government officials who issue the permits; just like we have seen for 60 years in the oil and gas industry.

My own idea of a mining industry (which is a key sector in job creation and the fight against poverty) is to get individual citizens (trained and tooled into licensed cooperatives) and small businesses doing the physical activity of extracting these minerals and the role of government will be to regulate access, establish a financial market, that is an commodity exchange of sorts where stable prices and a ready market is guaranteed.

The role of foreign investment should then be limited to THE PROCESSING, the upper tier of the value chain, to turn these ores and minerals into tradeable goods and articles.

NO foreign enterprise should be permitted exclusively to dig or drill the ground in Nigeria anymore and we should begin to move away from the export of raw materials to the processing of same and the manufacture of articles thereof.

For an economy CAN NEVER develop by its citizens OUTSOURCING their means of livelihood. And the three core, mass employment and wealth creating sectors, Nigeria is opportuned to have at the moment are CONSTRUCTION, MINING AND AGRICULTURE.

We have done enough damage to our construction sector for example by constantly outsourcing key projects, mass projects to foreign concerns and that is why we have not developed onshore capacity, technologies, competencies, standards, values, sustainable jobs and wealth out of it despite the trillions of dollars spent of construction of all kinds since independence. We have NO local construction industry.

BoldBrainz:


Can you be slightly reasonable for one sodding moment?!

Your government has a laid-down three-year plan to borrow trillions just to service (not pay off) previous loans, with very little attention planned for societal development, and your primary concern is what region gets a shot at the Presidency or not?

Are you nairaland youths even thinking about these things at all?!

Think?!! Come now, one would need a truly functioning brain to perform such mental exercise.


There's really not much hope for this nation.

The consequences of brain drain are truly evident for all to see.

Angelfrost:


None of us is privy to what goes on when they sign those agreements...!

We don't know how profit they make at the expense of the nation's progress.

Maybe you don't realize what debt servicing and interest repayment does to your nation's chances of growing economically.

I have no issue with the lender... The issue here is the borrower and what he does with the loans.


Look at the trillions already being owed and the ones set to be borrowed, and check the nation's growth trajectory... Compare that to other Nation's of the world.

If by Credit worthiness you mean ability to service loans while your nation deteriorates, then yeah... Nigeria is highly credit worthy.

Nice!! I have established that you are an intelligent individual, so how exactly are we supposed to finance our budget? In present day Nigeria let us imagine you are the president how will you run the country without loans?

soberdrunk:



Nice!! I have established that you are an intelligent individual, so how exactly are we supposed to finance our budget? In present day Nigeria let us imagine you are the president how will you run the country without loans?

And I will tell you also.
What are the DETAILS of such expenses the loans are sought for.
Because in these loans is where they will hide all their frivolities and theft.
That is where they hide their armoured cars and lavish foreign trips...
They take loans for capital projects that are highly inflated, filled with all sorts of pork for the boys.

Tell me. What do you see on ground in Nigeria for the 17 billion dollars borrowed by the immediate past regime, not to talk of the billions more by governments before that.
What are these 'investments' yielding today to repay or at least create economic value?

Details my friend..... it is what makes for success.
Nigerians have to begin to be the economic mechanics of their own country.... because we can no longer afford to hire help.
The era of, 'just work it and bring me the bill' is over.
The people HAVE TO QUESTION more borrowing and be absolutely SURE there are no alternatives THEY THEMSELVES can offer.

Truly Tinubu has hit the ground running

Dammmmmmmmnnnn it!
Nig is being ruled by a bunch of useless, redundant, irresponsible, sadistic, lifeless, self serving THIEVES!

Goodmorning20:


https://punchng.com/three-year-blueprint-fg-plans-n26tn-borrowing-n29tn-for-debt-servicing/?amp

Buhari borrowed, borrowed and borrowed infact he even borrowed in anticipation of any revenue nigeria might eventually discover. Tinubu will definitely match up to him or even surpass him in borrowing because the man doesn't even know what else to do.

soberdrunk:



Nice!! I have established that you are an intelligent individual, so how exactly are we supposed to finance our budget? In present day Nigeria let us imagine you are the president how will you run the country without loans?

Let me keep it simple... Borrowing is a foregone conclusion (totally inevitable).

That said... If anything or fortune made me preside over this nation, budgeting won't come before transparency and bringing every citizen on board with the true state of affairs in the nation's finance.

Without Transparency and Anti-corruption, nothing will fly... Absolutely nothing.

The primary thing to do within 3 months is to win the hearts and minds of the citizens (at least most of them).

The next step would be a financial buoyancy and recovery plan which has to be massive and full proof... We are talking budget cuts, massive slash in expenditures, increased taxation, ending insecurity and poor power supply, etc.

donbrowser:


You say?

Are you USA?

Do y'all have idea that the poorest state in the US is almost richer than Nigeria

soberdrunk:
So many ignorant Nigerians, Nigeria's debt to gdp ratio isn't even up to 40% while countries like Japan have a debt to gdp ratio of over 200%, even Italy has a debt to gdp ratio of over 100%. What we should be worried about us the "UTILISATION" of the loans

You are the only !gnorant an!mal here. Look at the countries you even mentioned, ode. Your country heavily imports Japanese electronics and vehicles; heavily imports Italian wines, need I go on? Asides the crude which your useless country exports to reimport (as refined product, which is very s!lily by the way), wetin else dem dey do? Borrow and loot? The rot is institutional!

Useless

Nigeria is a zoo

accordadoga27:


Hehehe

That zoo you will never rule or hijack

Your plans have been failing since 1967 and they will keep failing.


2023-2031: SW

2031-2039: North

2039-2047: SS

2047-2055: SW

2055-2063: North

2064-2071: SS

2071-2079: MB

2079-2087: North

2087-2095: SW

2095-2103: MB

God bless the SW, SS, North and MB

is it that you were born without a brain or you just decided to be senseless?

Where are our Professors of Economics? What can we do to get Nigeria out of borrowing?

accordadoga27:


Hehehe

That zoo you will never rule or hijack

Your plans have been failing since 1967 and they will keep failing.


2023-2031: SW

2031-2039: North

2039-2047: SS

2047-2055: SW

2055-2063: North

2064-2071: SS

2071-2079: MB

2079-2087: North

2087-2095: SW

2095-2103: MB

God bless the SW, SS, North and MB

for ruling the zoo since 1960, tell me how it has changed ur Mi se rable life and that of ur tribe. Keep chasing the shallow. B4 u call me Obi.diot, I never supported the zoo election talk more of supporting Obi, the evidence is there on my previous comments b4 the zoo election. I have bn a pro Biafran and I will never deviate an inch. I repeat, continue chasing the shadow

michlins:
Are you USA?

Do y'all have idea that the poorest state in the US is almost richer than Nigeria

They are taking loans abi they are not taking loans?

donbrowser:


They are taking loans abi they are not taking loans?

the distance between you and sense is like North and South pole

When you have someone who said he would continue from where African worst president, his predecessor stopped, what do you expect.?
A person who majority of Nigerians did not support or elect.

A person who has a criminal record

A person who forged a foreign university certificate to become president

A liar and power snatch-grab-and-run-away-with-it person in power

You don't expect anything less but criminal!ty and failure.

princepeter566:
When tinubu said he will continue from where buhari stopped abgadurians knew what he meant but they where busy shouting emilokon.
By the time Nigeria splits, Lagos, ogun, oyo, ondo and ekiti will be taken over by the Chinese government and world bank. Because that's the only collectoral that they can take over since their son was the one that borrowed the money. They will turn to people in diasporas in their land.

You’re being ignorant, borrowing didn’t just start now.
All presidents before now have borrowed.
Borrowing isn’t inherently bad, it’s what it’s being used for that you should focus on.

Tinubutitis sufferers will tell us that America is the highest debtor nation. But they will not tell us that America doesn't have more debts than credit, and America does not borrow to service debts, as Tinubu's government intends to do.

Cruise777:
How did we get here

How did we get here?
Because those who restructured Nigeria politically and proliferated new, and mostly, non viable federating units (states) and LGAs, in the old northern region, and had been using the advantage to largely determine who wins presidential election in Nigeria, believe that proceeds from crude oil and gas deposits in the Niger delta region are all a country needs to survive.
The lopsided and fraudulent political structure springs up inept political leaders at the apex political offices.
Ask from the south for political restructuring to enable qualified persons participate at the apex political offices in Nigeria, they will ask you to come to the National Assembly for political restructuring; knowing full well that the National Assembly is overpopulated by northern legislators who feel that the extant political structure suits their needs.

Nigeria problems is the inability to borrow money mostly because of lack of income or low income.

There is no country that does not borrow for infrastructure. Nigeria needs infrastructure critically but oil is finished because we sold all our oil in the last 8years by bubu the oil mole.

Tinubu became president because he claimed that he has access to borrow money for infrastructure but here we are tinubu and shetima running from pillar to post to no avail.


Yes Peter Obi can and has the access to borrow the needed money but cassava and tuwo people can not read the writing on the wall


Tinubu will run away from aso rock

This I have seen