blessochampion:
This government is an example of

"One wrong step, can wreck a whole destiny"

This nation might soon be forgotten.

May God see us through.

immhotep:


cc lzaa gmbuharii greenback helinues

Racoon:
[s][/s]Chronic indiscriminate taxation or borrowing by this rudderless government confirms its utter hypocrisy, cluelessness, financial indiscipline and corruption.

No nation survive economically on senseless borrowings not when such is to service debts as that is not debt payment especially in an economy that is import dependent.

MajorWarren:
whoever keeps loaning them these amounts need to loan us a new competent government cos, what the fvck!!!??

IMASTEX:

It would have been better they sell the country outrightly instead of this tactical sell off. Meanwhile you don't have to pay for the loan they borrowed to spend on themselves. Na to change citizenship if water pass garri.

Jabioro:
Is like the government has no revenue at home at all.Borrowing this borrowed that.Where is the trillion custom generate? FISR money nko, crude oil money nko..Ok I can't understood sir ,Sir you said! it's not enough to be embezzled..Sell us sir..yes sir...

Gwilym:


Oil prices under GEJ were between $91 (2009) and $130 (early 2014)..GEJ ran the show from 2010-15.

By mid 2014, oil was falling from $130 in March to $75 by May 2015....to $30 per barrel by January 2016 to $80 per barrel by 2017 and then down again to$60 now.

At the same time, the price Nigeria needs oil to run surplus budget...the oil breakeven...rose from $120 in 2012 to $139 as at 2018.

Buhari has been operating at oil prices that are at least $70 less than what we need it to run a budget without borrowing.

In simple English, since 2015, Nigeria has been losing between $70-100 dollars per barrel of crude due to chronic low oil prices. (Oil has been between $30-80 under Buhari, while our breakeven has been between $120-139 per barrel) And as a result, we have to take loans. Without the loans....Nigeria would have had to do things like raise fuel prices to N300 and beyond, as well as raise taxes to something like half your salary, raise school fees in universities to 600000 naira per annum, and so on.

This is not a defense of Buhari. I would (tentatively) commend him for saving money into our reserve (and for keeping Emefiele around...who is the real oga in the savings thing)...BUT...since he took over, there has been no effort whatsoever to diversify us away from our dependency on oil...which is our economic Achilles heel...and which is the main reason why APC is a failure.(The sad thing is that PDP too has no idea on how to diversify away from oil...Atiku was even talking about raising fuel subsides...which would force Nigeria to take even more loans than Buhari is taking).

Reference:


Oga. Imagine you inherited a company management because the previous was sacked for non performance and you are faced with reduced income what will be your solution to improving tje firtunes of the company to make it attractive for investment.... answer.... because this is exactly what the leadership of this country faces today.

....and please donot come to the next shareholder meeting saying the obvious.... that a reduced income is responsible for the continuing dismal perfornance....

....something tells me that in the least someone somewhere will simply ask you what you are doing to improve the stats.

SoNature:
Every day, this government will be borrowing money up and down with absolutely nothing to show for it.

Who will pay all these loans?

Temptee101:




He would be released once the cabals are done with him

Please be patient

allcomage:
Any person hoping Nigeria shall be ok is a fool.

sweerychick:
By the time this this administration is through with us, Nigeria would be at auction on eBay, imagine our future debt

Reference:


Look at the figures carefully and you will realise that we are borrowing to finance the capital expenditure of government which directly affects the firtunes of the average Nigerian. Every penny made in Nigeria from oil royalties to taxes goes to debt management and the upkeep of government officials.

Once again I will liken Nigeria to poultry farm where every year a few matured are given to creditors as pay back and most taken to the farmers kitchen. Then when new chicks are to be procured together with feed and medicine he goes a borrowing yet again.

What Nigerians need to break this vicious cycle of poverty is to take this democracy thing seriously and begin to vote in governments that are cerebral in nature and competent in performance. Enough of useless sentiment at the ballot.

Jabioro:
The very best person at hand to handled such enomous work is Tinubu..he gone through such rigor when Obasanjo seized Lagos allocation..

Agricaddict:
Our constitution gives room for theft and corruption, just imagine, one president or governor will borrow money and pocket it and after his tenure is over, he will go peacefully without accounting for his expenses and his successor will be the one to bear the burden. I guess that's what you get when you decide to do copy copy of oyinbo style instead of doing our thing our way.

Agricaddict:




Borrowing is good if the money is going to serve the purpose, you can't blame Kemi Adeosun for mismanagement on the part of the leadership because she didn't decide what to use the money for

sevenhundred:
................... debt is good??!!!!!!?

Agricaddict:




Even the richest countries of the world owe debt, they only know how to multiply what they borrow