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Senate Rejects Buhari’s Request To Borrow $30bn - Politics (4) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Senate Rejects Buhari’s Request To Borrow $30bn (30193 Views)

Ezekwesili Reacts To Buhari's Request To World Bank To Focus On Northern Nigeria / FFK Reacts To Buhari's Request To World Bank To Focus On Northern Nigeria / Presidency Reacts To Senate’s Rejection Of Buhari’s Plan To Borrow $30bn (2) (3) (4)

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Re: Senate Rejects Buhari’s Request To Borrow $30bn by saintmark88(m): 1:18pm On Nov 01, 2016
repogirl:
They want to borrow money that will forever put us in massive debt with no results that will show for it.

This FG that met a bustling economy and ran it aground now want to borrow and finally bury the country into the ground. The senate did well by curbing it.


I weep wen I c pple like u talk unintelligently on social media, I wonder if we d youth or let me say young adults even carry out research at all

I dnt blame u wen u talk like this, too much attention on Brazilian hair, iphone, Mary Kay powder..has turned our young ladies into dummies.....sometimes I wonder if in a general sense...Ladies in general think because they r ladies then they r allowed to be dumb

Now to d point u made tht its totally a distortion of the truth. What do u mean by he met a "bustling economy". Have u ever researched to find out what d economy was like bfre GEJ entered n what it was bfre he left??

If u have not please do, bfre u make a urself appear dumb

4 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Johnsown1(m): 1:19pm On Nov 01, 2016
Clashes of the titans
Re: Senate Rejects Buhari’s Request To Borrow $30bn by nezer83: 1:20pm On Nov 01, 2016
seunmsg:


You want to diversify the economy without building key infrastructure like power and good rail network right? My friend, you don't know what you are saying. The infrastructures proposed in the loan plan is key to diversification of the economy.

I do not think Nigeria need take such huge loan for diversification.
If there is a sincerity of purpose, we can start with what we have.
The Buhari govt. should not take us back to slavery.

5 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Purplebirdrep: 1:21pm On Nov 01, 2016
APC must not mortgage our future

4 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by limeta(f): 1:21pm On Nov 01, 2016
So nice so sweet
the loan would ve been hanging on the future generation.
how nice.

5 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by kinibigdeal(m): 1:22pm On Nov 01, 2016
Give Okonjo Iweala your economic blueprint, then your borrowing will be considered

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Re: Senate Rejects Buhari’s Request To Borrow $30bn by RockHard: 1:22pm On Nov 01, 2016
seunmsg:



Today's rejection is just a temporary setback. The president and the senate leadership will meet and reach a consensus on the matter. The proposed infrastructures are key to the diversification of the economy and hence, the loan is inevitable.

This rejection further highlights the fault-lines within the APC. Buhari is simply an incompetent leader, else he would've 'rallied his [APC] troops' at the National Assembly to ensure that the bill was accepted and passed, afterall the party still enjoys a majority at the National Assembly. But no, his aloofness, abysmal incompetence, lack of leadership and indifference to the serious crises facing the party has and will continue to cause him embarrassments such as this. Truly the guy truly is a du.l.lard.

3 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by freeze001(f): 1:24pm On Nov 01, 2016
seunmsg:



Today's rejection is just a temporary setback. The president and the senate leadership will meet and reach a consensus on the matter. The proposed infrastructures are key to the diversification of the economy and hence, the loan is inevitable.

Unless u are confirming to me here and now that all we have in office are a bunch of wasteful dullards without a bone of innovation or intelligence in their bodies, it is clear that it is time to deploy home grown solutions and optimal foreign and domestic policies which will reverse the current downward trend we have been thrown into! Is it only about incurring debts? What is the framework for its management, deployment, feasibility and repayment? What is on ground or prepared by the government to show that every goddamned avenue has been tried, are completely and fruitlessly exhausted and we can therefore only rely on external borrowing of such magnitude? Did u ask these questions before declaring and absolute lack of funds?

What austerity measures have been deployed? They all still move around with obscene convoys, unholy allowances and so on yet they only seek the easy way out! Where is the revenue from the stamp duties being deducted nationwide? The removal of subsidy, where is the money? What does it take to heed the demands of the Niger Delta and restructure this country like they promised in their campaign propaganda? Why will the FG not convoke a constitutional overhaul that can liberate the potentials of every nook and cranny of this blessed geographical expression? Have all of these and many more been exhausted before such a harebrained idea of such gargantuan external borrowing is even considered?

10 Likes 3 Shares

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Omeny: 1:25pm On Nov 01, 2016
seunmsg:


You cannot diversify the economy under 17 months in a period of very low oil earnings. Diversification can only happen over a long period of time and provision of key infrastructures is key to diversification.

But in 17months, u can put policies in place that has brought hunger to the land.

Job loses everyday, Hyper-inflation and impoverished citizens over-taxed from the banks to the fuel pump abi?

Continue with excuses and delusion.

Maybe 10,0000 Months will be enough to put the economy where they met it if that are clueless on how to go about this hardship in the land.

3 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Cornerstone001: 1:26pm On Nov 01, 2016
Very good, the nation is not supposed to borrow funds with the future of the unborn generation.
It is not a crime if we too can lend to other African nations as the "giant of Africa" for that matter

4 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by ilynem(m): 1:26pm On Nov 01, 2016
krendo:
Now that's victory for democracy!

That's how separation of power should work

There should be checks and balances

What Nigeria needs is not more borrowing, what we need is a cut in the cost of government!
I wish the same senate who threw out the proposal will even consider cutting their wages and bonuses?
Re: Senate Rejects Buhari’s Request To Borrow $30bn by ayindejimmy(m): 1:33pm On Nov 01, 2016
Largas:


How can you borrow a heavy Loan for infrastructural development, how will that revamp our dead economy or alleviate suffering in the Land?

Buhari should focus on diversification of the economy and exodusing us out of this misery instead of taking Loans to construct railtracks from Daura to LA.


Wait a sec. you mean you don't know the impact constant power,good roads and bridges may have on our economy?



Can you diversify without fund?
Farmers need good roads and cheaper transport to bring their harvest to town. in you opinion, how can that be achieved?

3 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by thedarkside: 1:35pm On Nov 01, 2016
seunmsg:
They did not even debate it before throwing it out. Not a good development. Throwing the entire proposal away is not the best. We need some of the projects that were proposed in the loan proposal. They should have debated the proposal and approve some even if they won't approve all.

how is borrowing ever a good idea??..

dont you have to pay it back one day??

is it free!?..

1 Like

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Nobody: 1:35pm On Nov 01, 2016
saintmark88:


I weep wen I c pple like u talk unintelligently on social media, I wonder if we d youth or let me say young adults even carry out research at all

I dnt blame u wen u talk like this, too much attention on Brazilian hair, iphone, Mary Kay powder..has turned our young ladies into dummies.....sometimes I wonder if in a general sense...Ladies in general think because they r ladies then they r allowed to be dumb

Now to d point u made tht its totally a distortion of the truth. What do u mean by he met a "bustling economy". Have u ever researched to find out what d economy was like bfre GEJ entered n what it was bfre he left??

If u have not please do, bfre u make a urself appear dumb

Are you more intelligent than her? Just take a look at all the balderdash you typed up there. You cannot even write in proper English. Please make a point without all this ad hominem.

I support this move by the senate. Buhari should think outside the box, in solving our issues. He that goes aborrowing goes asorrowing.

5 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by maclatunji: 1:41pm On Nov 01, 2016
Largas:


How can you borrow a heavy Loan for infrastructural development, how will that revamp our dead economy or alleviate suffering in the Land?

Buhari should focus on diversification of the economy and exodusing us out of this misery instead of taking Loans to construct railtracks from Daura to LA.

And diversification of the economy will be done with Kulikuli? Your Economics is amazing.

Oya, explain how you would finance the diversification of the economy? How much would the diversification cost? What is the payback period?
Re: Senate Rejects Buhari’s Request To Borrow $30bn by KINGS100(m): 1:44pm On Nov 01, 2016
is it wise to borrow for infrastructural development, in the face of economic recesion? Is it the right step to take in the absent of credible economic BLUEPRINT?
#sustainable development is development which meet the needs of d present without compromising the ability of the future generation to meet their's.

1 Like

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Nobody: 1:44pm On Nov 01, 2016
This government wants to borrow in the hope that oil will rise one day

Now that's recipe for disaster!

I thank the senate for blocking it!

After cutting subsidies in fuel, you will think this government will be brave enough to take an honest look on the cost of governance, instead they want to borrow money on our behalf to fund their corruption

PDP must block this borrowing with everything they have so that Buhari does not mortgage our future!

7 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Nobody: 1:45pm On Nov 01, 2016
Largas:
SE Nigeria will be rejoicing over this kind of news.

Foooooolish President in Chief.

are you insane ? What does South east have to do with this ? Useless tool

6 Likes 2 Shares

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Cjrane2: 1:48pm On Nov 01, 2016
Buhari will still write another letter requesting to borrow $40 billion tomorrow

2 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Kabashin: 1:49pm On Nov 01, 2016
maclatunji:


And diversification of the economy will be done with Kulikuli? Your Economics is amazing.

Oya, explain how you would finance the diversification of the economy? How much would the diversification cost? What is the payback period?

No borrowing for those Aso Rock thieves.

2 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Nobody: 1:49pm On Nov 01, 2016
Awon were oshi, the same 30 billion that put us in a fix and grip of Paris club and the rest for years... thanks to Obj and Iweala. They claimed to have spent 4 trillion of this year budget yet they can't point to a completed 1 km road...awon ode oshi... So us paying for the mistake we made in voting this tribal warrior is not enough... he want our children to pay too. Imagine they are not even starting from 3 billion loan... 30 billion... abi this people Wan die ni?

5 Likes 1 Share

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Agbanagba1(m): 1:49pm On Nov 01, 2016
seunmsg:


You want to diversify the economy without building key infrastructure like power and good rail network right? My friend, you don't know what you are saying. The infrastructures proposed in the loan plan is key to diversification of the economy.
Infrastructural development has been an excuse for stealing public funds since independence,Nigeria does not need to borrow such huge amount due to our history of wasatage and corruption... We should look inward and try to raise some of that amount by selling off some government assets that is draining the Nigerian purse.

6 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by ehissi(m): 1:52pm On Nov 01, 2016
Some fellows are talking about debate. What is there to debate??


The current Budget is #6.07trillion, you say you have a deficit of #2.2trillion - meaning, you have no idea how or you do not have the means to generate #2.2trillion.

Then you send a request to borrow $29.9billion - which is #9.06trillion at official rate Ooh, parallel market rate is over #14trillion - meanwhile there is no clear economic blueprint available to describe in detail how the cash will be utilised to get us out of this economic turbulance and you are expecting sane human beings to approve such foolishness......angry

If all you are looking for is #2.2trillion why borrow #9.06trillion?? After all, you told the world that you have recovered #3.64trillion from looters, what are you looking for loan for?

Meanwhile, his mumu minister of communications is asking for $550million to put a Satellite - abi na flash-drive - in Space for data storage.

In my own opinion, Its this type of wastages, that they want to use to pay gbese for 2015 elections and recent elections in edo as well as upcoming elctions in ondo that they want to use a significant portion of that money for. And I am happy it wasn't approved.

Except it is a lie, they should use the #3.64triilion recovered to fund budgetary deficit.......

I am not even talking about the monies that they claimed to have allegedly saved in billions from removing subsidy and from TSA and other things that Lai Mohammed, Amaechi and Vice President "Osunbade" have been presenting as facts to the media.

Does anyone even realise that the $29.9billion is even higher than our foreign reserves??

Nonsense and Ingredient..........angry

9 Likes 4 Shares

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Bujumbura(m): 1:53pm On Nov 01, 2016
saintmark88:


I weep wen I c pple like u talk unintelligently on social media, I wonder if we d youth or let me say young adults even carry out research at all

I dnt blame u wen u talk like this, too much attention on Brazilian hair, iphone, Mary Kay powder..has turned our young ladies into dummies.....sometimes I wonder if in a general sense...Ladies in general think because they r ladies then they r allowed to be dumb

Now to d point u made tht its totally a distortion of the truth. What do u mean by he met a "bustling economy". Have u ever researched to find out what d economy was like bfre GEJ entered n what it was bfre he left??

If u have not please do, bfre u make a urself appear dumb
clowns are now on Fp. Make your argument without attacking people.



Your Z virus is of a high strain

6 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by mandax: 1:53pm On Nov 01, 2016
Borrowing a whopping $30 billion? This is madness to endow unborn generations with debt.

Buhari since becoming HoS in 1984 following the coup by his boys, and subsequent military dictators, Buhari has plunged Nigeria into penury. Those dictators did not understand that ageing social infrastructures like electricity, roads, schools, water supply etc needed replenishing. Of course, Buhari can't do now what he couldn't do when he was young.

Good that the legislators have got it right this time.

This is not a matter of APC or PDP. It's a matter of conscience.

1 Like

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Codes151(m): 1:54pm On Nov 01, 2016
After padding budget and taking so much and nothing has been done so far... Una need another 30b dolls. Wonderful

1 Like 1 Share

Re: Senate Rejects Buhari’s Request To Borrow $30bn by michoim(m): 1:55pm On Nov 01, 2016
Saraki because your suggestion of sales of national asset was not adopted, so you carry out kangaroo Senate vote against the external borrowings...
Re: Senate Rejects Buhari’s Request To Borrow $30bn by TheVictorious(m): 1:57pm On Nov 01, 2016
SweetLove0:
dubious law breakers.

E PAIN AM OH grin

1 Like

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Codes151(m): 1:58pm On Nov 01, 2016
saintmark88:


I weep wen I c pple like u talk unintelligently on social media, I wonder if we d youth or let me say young adults even carry out research at all

I dnt blame u wen u talk like this, too much attention on Brazilian hair, iphone, Mary Kay powder..has turned our young ladies into dummies.....sometimes I wonder if in a general sense...Ladies in general think because they r ladies then they r allowed to be dumb

Now to d point u made tht its totally a distortion of the truth. What do u mean by he met a "bustling economy". Have u ever researched to find out what d economy was like bfre GEJ entered n what it was bfre he left??

If u have not please do, bfre u make a urself appear dumb
like seriously what are u saying Gej left the economy on a verge of epic growth!!! He has every write to question what they are doing that in less than one year of getting a budget, after excess padding they want another loan to the excess of 30b dolls...

If u sign a contractor to build a house for 10m and so far he's done nothing n then comes back to ask for 5m how will u react? Smh

2 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Nobody: 1:59pm On Nov 01, 2016
krendo:
Now that's victory for democracy!

That's how separation of power should work

There should be checks and balances

What Nigeria needs is not more borrowing, what we need is a cut in the cost of government!
Call a spade a spade. The Senators are attacking PMB because of his anti-corruption campaign. They didn't even pretend to debate the request, they refuse to cut their own criminal salaries and allowances, they refuse the government request to sell national assets; how do they want the economy to run. Same Senators haven't taken a strong stand against militancy and niger delta nor Boko Haram. Nothing. And for those saying diversify the economy overnight; I hope they know what they are saying. It takes several years and a lot of money to diversify the economy. Forget about sentiments, those Senators have just dealt serious blow to the destiny of the Nigerian people.

3 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by mikeade11(m): 2:00pm On Nov 01, 2016
Bubu wan go invest the money to the nothern part of Nigeria so dem go fit hold on to something if Nigeria disintegrates eventually.. Maybe
truefact:
Very good.

APC is evil, but baboon is surrounded by demons

1 Like

Re: Senate Rejects Buhari’s Request To Borrow $30bn by chronique(m): 2:02pm On Nov 01, 2016
This isn't about frustrating him,but preserving our future. If only buhari borrows $30bn in 4 years,what will subsequent govts borrow if the need arises? Let him just serve out his directionless tenure out without dragging us into more misery;what exactly has he gotten right economically,since he came in? Nothing.
clefstone:
Anything to frustrate buhari is allowed until he suffers the pain GEJ suffered when he was an opposition

6 Likes

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