jpphilips:


pay school fees you no gree, you see your life?

Goke7:
agreed, so what are the alternatives? We need to proffer solutions more these days than complain.

But if its all about complain, then sorry op you've got no point

Krismart:
I still see no reason for Nigeria to borrow such amount of money from China to finance the so called developmental projects when the economy is in a mess and the poor masses could hardly feed. What happens to the billions of dollars FG claim to have recovered from looters and our internally generated revenue? Besides, must all these projects be carried out in a year? Why not pick the most important projects that are achievable and embark on for this year and continue with others by next year. Presently Nigeria is owing lots of money and borrowing again from China will definitely compound our problems if not now in the nearest future. This is my humble opinion. God bless the Federal Republic of Nigeria

Chukzyfcb:

Sounds good theoretically. But you are forgetting "forex controls". If cbn restricts how much yuan the people can get, then it'll push them to the parallel market. Then the exchange rate between naira & yuan will rise, thus defeating the purpose

Dpearlz:
This deal is both good and bad but There are questions we are not asking.

Nigeria imports 70% of the goods it uses from China thus making us a major market for them.
These goods include generators, iron, plastics, etc. Why will they help us fix our industries when it takes money from their country in the long run. If even only our electricity is fixed we can become self sufficient in very many areas.

There was also an article I read where they said most Chinese refineries are built to refine heavy crude oil but nigeria produces light crude so they may not be really intrested in our oil.

China has large deposits of iron ore and coal and many other resources thus they can produce things very cheap so it might not be most of our minerals we wish to start mining that they are interested in.

The advantages I can see here are they will sell their industrial products and expertise to nigeria (for an inflated cost), take advantage of this good will and obtain arable lands to grow some crops they may need, provide high level jobs for their people in another land (as they will manage the system for some time before it will be passed on) and may be buy Nigerians natural gas to generate cleaner electrical energy than their coal power generating plants.


That's just my opinion and I know I might be totally wrong.

Chukzyfcb:

Don't flatter yourself. So the reason why pounds and euro jumped to over 60% of its former price is because of what you stated? Pls say sumtin else. If you had mentioned dollar, it'd have been different
. Since the economy started expeirencing difficulties there has been reduced amt of people travelling for such things, so the demand reduced but the exchage rate hasn't.

megama:
Sir/maa, you can't have 100 naira in your pocket, and be borrowing 10 kobo

Csami:


He also proffered a solution. He mentioned true federalism.

portside:
Tell them ohhh, am very happy on this enlightenment with this I can boldly argue my points with some PMB loyalist who has been blinded by shame now but doesn't want to believe that PMB foreign trips are futile.

dabossman:


Nigerians are very funny people. People without a bargaining chip are still forming boss. Why won't China benefit the most from this deal. What do we have to bring to the table? Crude Oil? What do we manufacture? Of course we are bargaining from a disadvantaged position. Do beggars have a choice? We laundered away our future through the years and now we are forming boss in the midst of our position of lack. Basic infrastructure like power, roads, a good rail network that covers our vast land we cannot boast of in 2016. Yet we are acting like we are coming to the table with the Chinese as equals. I dey laugh.

We better do our best to learn as much as we can from the Chinese and ensure that we develop our infrastructure and our economy now so that a few years from now we won't have to go to them again begging for another loan to do the same things all over again as has always been the trend in the past. But to think we are sitting at the table with the Chinese to bargain as equals is just an illusion, Let us face reality, we and dem no be mates. We are apprentices, and they are the Masters. Hopefully, we will apply sense and ensure that we get our "freedom" quickly or forever remain in servitude.

@jpphilips you really have said it the way it is. We have already squandered our future away in the past. Hopefully, we can retrace our steps.

teezarmanni:
he has a point,he is not to profer the solution cause he is just a civilian he is only enlightening people like you who don't learn and reason

jpphilips:


I doubt if you know why your government restricted forex in the first place.
Most of you spend more time criticizing what you dont understand than learning.

Jesusloveyou:
so they dont take loan in true federalism, mumu full everywhere sha

Alanzazani:
I have a problem with the Chinese they always comprise standards. My organisation embarked on a project worth half a billion naira with the Chinese these guys refused to transfer the technical know how to us. Language was a serious barrier and they feel u are drawing them back when u trying to understand what they are doing. After less than a year, the project has started falling apart and we are struggling to keep it going. They will come and take our jobs, no Nigerian engineer was involved in this project, they just used Nigerians as menial workers, breakig , digging, packing and so on so there was no transfer of knowledge. They rushed the job and rushed out leaving us with problems. I am very skeptical about them

Chukzyfcb:

It seems you know get the drift. Forex controls was imposed coz of the high demand & low supply. If majority of the goods are from china here in 9ja, it means we will potentially have a high demand for the yuan. Now how much is in the reserves to feed our appetite? I believe not so much. So what happens? Forex control applies, to allocate the scarce currency. Or do you suggest that Importers and other individuals will get the yuan as easy as they want and at the Official price? If yes, wake up!

Alanzazani:
I have a problem with the Chinese they always comprise standards. My organisation embarked on a project worth half a billion naira with the Chinese these guys refused to transfer the technical know how to us. Language was a serious barrier and they feel u are drawing them back when u trying to understand what they are doing. After less than a year, the project has started falling apart and we are struggling to keep it going. They will come and take our jobs, no Nigerian engineer was involved in this project, they just used Nigerians as menial workers, breakig , digging, packing and so on so there was no transfer of knowledge. They rushed the job and rushed out leaving us with problems. I am very skeptical about them

Oma307:
U are on point but we have to look at the positive side also

NigeriaNigeria:


The positive side is that China gave Buhari $6bn in investment in factories and manufacturing plants to provide employments to our unemployed people in Nigeria.

deluxez12:

I thought the President recovered billions of dollars from looters and he saved allota money from the TSA account, so why he's going to China to borrow money? or he just taking us for a ride

jpphilips:


How many looters have been convicted so far?

2sexyus:
meaning?

jpphilips:


You just spoke like a typical Nigerian, sit at home, spread your legs then wait for technology, knowledge and skill to fall on your laps, are you kidding me?
There is no Chinese technology today that is not a clone, none!! they ran an advanced spy network, sending smart citizens to higher institutions and corporations to steal the technology, is that what you expect them to dash you? You go old dey wait.
Your oil and gas industry is awash with American and European technology, how many have you gotten? you are smart enough to know that sleeping does not pay

Alanzazani:


And u just spoke like a reta.rd. This is a facility we operate everyday do u think it is operated by the Chinese or we Nigerians. Do u know a project they built worth half a billion naira is already falling apart and we keep altering their design to keep it running. If u are fond of spreading ur legs and talking nonsense I am out on the field bursting my arse on the job everyday so don't u come sermonising me on nairaland nonsense