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Nairaland Forum / Nairaland / General / Politics / Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala (22576 Views)
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Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by moscobabs(m): 2:10pm On Mar 26, 2015 |
Yeeeeee!!!!!! GEJ and eweala don kill nija ooo. 1 Like |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by Pebcak: 2:10pm On Mar 26, 2015 |
OLEEEEEEEEEEEEEEEEEE BUT Y? The Federal Executive Council (FEC) recently approved a multi-donor credits from the International Bank for Reconstruction and Development of the World Bank, Africa Development Bank, Germany and French Development Agency in the sums of $500 million, $450 million, $200 million and $130 million for the establishment of the DBN. |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by anonimi: 2:13pm On Mar 26, 2015 |
bushdoc9919: Her govt has been in office since 2010 i.e. five years and made PROGRESS in diversifying our economy. If Buhari and the other rulers before Jonathan had done same we would have been much better. www.nairaland.com/attachments/2095210_worst_jpeg588f192a23aa02a7b350a8bbe5d18306 |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by ooshinibos: 2:19pm On Mar 26, 2015 |
okonjo what happened to the 36billions dollar obj left in the Nigeria forex account wow ..these PDP has really bankrupt naija ..we should be borrowing world bank money ..phew 2 Likes |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by dammytosh: 2:20pm On Mar 26, 2015 |
The e-diot spent all the exxcess crude oil funds (Billions of dollars ) and they are borrowing at 3%. Obasanjo paid all the debts and left reserve GEJ spent all the reserver and will leave debt. 2 Likes |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by Nobody: 2:22pm On Mar 26, 2015 |
anonimi: Problem is....we have not made progress on the electricity front. Forgive my impatience....but we should be moving much faster. The fact is...Nigeria's economy has been hit by our over-dependency on oil over the decades. And the painful thing is that Okonjo-Iweala knows this...and even knows all about how resource dependent economies do not do well when the price of the resource they sell is falling.(which is also the reason why Agric will not save us.....ask Burkina and mali how their dependence on cotton is working for them...and Malawi...that depends on tobacco...and has its budget written for them by the loan sharks called aid agencies! ![]() If I was running this country....half the budget will go on power, technical education and railways. Everything else can take care of itself. And the fuel subsidy will have to go.States should also be ready to take a 30-40% cut in allawee too. If we do not get off oil as a matter of Even APC has no idea how to get us off oil(we will build roads, and give everybody money we do not have!)...but neither does the PDP. |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by anonimi: 2:28pm On Mar 26, 2015 |
bushdoc9919: Can one take that as a grudging acknowledgement of PROGRESS under Jonathan/Sambo in the last five years of the needed diversification away from Niger Delta crude oil ![]() ![]() [img]http://2.bp..com/-KuqBxpAue0c/U4iL2nHkEJI/AAAAAAAAFJI/pdkLQ0gW-ng/s1600/PIC+3a+DEMOCRACY+DAY.jpg[/img] www.nairaland.com/attachments/2085409_hh_jpeg07b0e6e05a4624e7545331a83b844508 www.nairaland.com/attachments/2092567_gej_jpeg992928adad11461598fca84307c51f06 |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by dallyemmy: 2:30pm On Mar 26, 2015 |
When blind man dey lead blind man...gutter here they come! |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by Nobody: 2:38pm On Mar 26, 2015 |
anonimi: Not so fast. We are producing about 3500mw of electricity for an installed need of 12500mw. No...we are moving at a snail pace. We need to move at light speed pace. And all those car industries you showed me...you and i know that it just gets us back to where we were in the 1970's. If you want to sustain all that.....we need to be producing power at 40000mw(my opinion..BTW)....and we need to have Ajaokuta working at full capacity. Maybe build a second steel plant. We also need to spend more on technical education and on our universities....and that means far more than the N1.5 trillion that ASUU got dashed over 5 years. Without doing all that....you will end up with everything going to rust in five years...due to the fact that there is no oil money to fuel the growth.(And what little money we have left by then would be spent paying off our IMF obligations. 1 Like |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by Nobody: 2:39pm On Mar 26, 2015 |
bushdoc9919: Stop wasting your time on that paid idiiot who has mortgaged his future generations for peanuts. He is locked in a room in Abuja and paid to spread propaganda. You can never convince him cos he is ignorant 2 Likes 1 Share |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by Image123(m): 2:39pm On Mar 26, 2015 |
When are we sacking Ngozi Okonjo-Iweala already? 2 Likes |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by Nobody: 2:41pm On Mar 26, 2015 |
uselessgoat: No....he is not ignorant. And he does make some sense. I enjoy discussing with him...helps me up my discussion game too. After all...we are here on Nairaland to learn from each other..... |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by MadCow1: 2:48pm On Mar 26, 2015 |
To think that Okonjo who was a part of the government that negotiated our Debt forgiveness is shocking.. ![]() Now under a new boss, our debt profile has grown astronomically, our foreign reserves have plummeted, our exchange rate has gone from 145 Naira to one dollar to almost 240 Naira to one dollar.. ![]() And yeah, our economy is the best in Africa... ![]() Governemnt can use economics to play with our brain sha.. ![]() 3 Likes |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by Ura: 2:51pm On Mar 26, 2015 |
Is this why they devalued the Naira so badly? up till now, the Naira is still going down. We are not yet even past 1st quarter of the year and Nigeria is already borrowing. The are no visible actions yet to stabilize the value of the Naira to the Dollar. If Goodluck Ebele Jonathan is being misled again to think that borrowing from the World Bank is the solution to the problem that he has plunged Nigeria into, then the reference being made of him as "clueless", is an understatement. Look at the amount of Nigeria's funds that he committed into his campaign. Let us even assume that he was given all that amount of money in support of his campaign, will any right thinking individual, heading a financially distressed and infrastructurally deficient economy agree to commit such money, in terms of Naira and Dollar to the campaign? And to all of you blind Nairalanders who are deceiving him with your support, may the consequence of his actions upon this country be worst felt by you. I used to think that the youth are the leaders of tomorrow, but now I see that some youth are actually as brainless and clueless as their leader. Now is the time for all Nigerians to pray against those who have sold their conscience, that they may begin to reap the consequences with immediate effect. LONG LIVE THE FEDERAL REPUBLIC OF NIGERIA!!! 3 Likes 1 Share |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by lekeey: 2:51pm On Mar 26, 2015 |
“We have entered negotiations with international financial institutions, specifically, the African Development Bank and World Bank. You know they have some resources for us already programmed, which is in the borrowing plan,” she said" This is the worst government ever: they really want to destroy everything, this shows Professor Soludo was right.; |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by globalresource: 2:51pm On Mar 26, 2015 |
Jonathan administration sinking this ship in the ocean of financial hardship. We need GOODgovernance And not GOODluck |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by victorv12(m): 2:52pm On Mar 26, 2015 |
Okonjo Iweala must be arrested and incarcerated. That woman single-handedly destroyed Nigeria's economy on behalf of her paymasters at the world bank. No wonder former president (Obasanjo), sacked her when she was the minister of finance under his reign. If Buhari is going to arrest anybody if he becomes the president of Nigeria, she must be the first thief he should go for, because she has mortgaged the lives of the unborn child in our country. Obansanjo's government paid nearly all our debt when he was the ruling the country. My advice to the Nigeria government; anybody that's going to be employed has the minister of finance to run the economy must never come from Havard, Yale or any of the IVY league colleges again. JONATHAN MUST GO! #SAIBUHARI2015 1 Like |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by anonimi: 2:53pm On Mar 26, 2015 |
bushdoc9919: ......but we are MOVING, something we did not do for so many decades. Now that is PROGRESS under the Jonathan/Sambo federal administration in the last five years, not so ![]() progress |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by mashnino(m): 2:55pm On Mar 26, 2015 |
Editor1: look at this ignorant idi.o.t look at this idi.o.t look at this fool can you just shut up and leave party sentiment aside and see what is befalling us.. idi.o.t !!!!! My God!! |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by iretiland: 3:02pm On Mar 26, 2015 |
This 419 Economist managed to decieved for so long to beleieve that she has something to offer the mercies, but it is now becoming clear to the clear-minded Nigerians that her brain is the same with her boss' and her economic policy direction is the shame with the man she is helping to loot Nigeria and force millions of innocent Nigerians to labour camp in the years to come. When Prof Soludo informed us recently about the true nature of our economy and the hypocrisy of the woman, her errand boys were up in arms to discredit the eminent professor and accomplished CBN governor. Any true leader of vision will not keep this woman in a focus and goal oriented cabinet. Credit to OBJ for realizing that she can't successfully manage a piggy bank let alone the economy of a serious minded nation. 2 Likes |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by globalresource: 3:07pm On Mar 26, 2015 |
mashnino: Don't mind those people that run away from issues based matter to embracing sentiments. Sometimes I feel like shedding tears on behalf Of this vision less youth shouting GEJ to 2019. When the bloody hands of meltdown reach them and their family, they will be the first to be arguing. We have the power to determine the future now IHaveDecided |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by arsenal33: 3:10pm On Mar 26, 2015 |
imagine what the dollars used in bribing all the obas etc would do? What a shame |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by ajl: 3:19pm On Mar 26, 2015 |
If you follow the trends of Nigeria's external debt, foreign reserve and price of crude you will surely come to conclusion that Jonathan administration is a scam. |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by arsenal33: 3:19pm On Mar 26, 2015 |
GENTLETEE: It is already sold. i'm sure GEJ will be upset with her for revealing it before elections 1 Like |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by Nobody: 3:25pm On Mar 26, 2015 |
THE ONLY PROBLEM THAT NIGERIA CITIZENS HAVE IS LACK OF KNOWLEDGE. THE UNITED STATES DEBT IS OVER 100% OF THEIR GDP, OUR DEBT IS LESS THAN 20% OF OUR GDP. MAKE UNA NO DE RUN MOUTH. 1 Like |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by Sanchez01: 3:30pm On Mar 26, 2015 |
ammyluv2002:Ammy? Can't believe you could comment on a thread as this ![]() |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by babadee1(m): 3:31pm On Mar 26, 2015 |
peteonline: The ones they borrowed before how many jobs did it create? Remember this was the same woman who negotiated Nigeria's debt forgiveness some years back under Obj now she is the one piling on more debt. With the way we manage our resources in this country any future debt negotiation will be unlikely. |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by Volksfuhrer(m): 3:37pm On Mar 26, 2015 |
I use to love this woman, but I'm beginning to doubt her competence! Why not stop playing politics and tell GEJ the truth! A government cannot spend over 90% of its revenue on recurrent expenditure and then borrow money to fund capital projects! It is voodoo economics! The Federal Government is just too large for its income! The more money you borrow, the larger your future recurrent expenditure in interest payments! Madam, this is the time for sober reflection, not shoddy politics. 3 Likes |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by cyril83(m): 3:41pm On Mar 26, 2015 |
Ilekeh: Ileke idi i sight you....how is life in ekiti state ? |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by chronique(m): 3:48pm On Mar 26, 2015 |
What's all these nonsense you guys are screaming about? Is there a country in the world that doesn't borrow? America's debt profile is 17 trillion dollars with a foreign reserve of 129 billion,Britain's debt profile is 9.5 trillion dollars with a foreign reserve of 139 billion,China's debt profile is 3.8 trillion dollars with a foreign reserve of almost 4 trillion dollars. Nigeria's debt profile is 47 billion dollars with a foreign reserves of 32 billion dollars. Out of this 47 billion,9 billion makes up our external debt,which is about 5.5 billion up from 2005 when NOI left the Obasanjo govt. When she left,domestic debt was around 14 billion dollars. As at now,the federal govt owes about 6 billion of the external debt while the state governments owe the remaining 3 billion. Our debt to GDP ratio is 12.51 percent,which is much lower than the 26 percent benchmark set by international standards for countries in our category. So what's all the big noise about? That being said,I know it's not a yardstick for us to keep accumulating debts but these debts come in different packages via bonds and treasury bills and some of them are being used to control money supply in the economy so as to reduce inflation,amongst other things. The way Nigerians react to issues bothering on economics at times,could be so embarrassing. Most Nigerians act like we're the only nation in the world that borrows money. You guys should try and update yourselves on certain issues at times before debating on them. |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by Nobody: 4:05pm On Mar 26, 2015 |
chronique: Have you forgotten the 1980's.? Where we were in so much debt that we had to take the SAP medication? Yes...a lot of countries borrow. And that does not mean their governments or people are happy about it. And in extreme cases...the economy can collapse eventually. (Look at Greece and Argentina).And even healthy borrowers like the UK are cutting back on government services. Also....many first world debtor countries have the potential means to pay off their debt. Means like innovative economies, technology, etc. All Nigeria has is oil....which is not earning us enough money right now.Guess what...our debt will grow. Simple fact is....we would not have needed this debt if we had not been so reliant on oil. So, don't rejoice. Just because other countries have debt....does not mean that a third world country like Nigeria too should have debt...especially when we have no cushions against the adverse effects of the debt. 4 Likes |
Re: Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala by rikamann: 4:10pm On Mar 26, 2015 |
Mr. President sir, please sack this woman now in the name of God. She is the major problem of Nigeria and she is bent on ruining the economy. President OBJ saw this and changed her portfolio but she ran back to her masters. She is back now to fulfill her ambition. PLEASE SACK HER NOW!!! This is not APC or PDP but NIGERIA |
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