This same midget did not waste time applying for a stupendous loan package as Governor of Kaduna

Now that Buhari is going to borrow 22 billion dollars, why hasn't this vermin complained

That is the true nature of APC, whatever they said/say was/is and will remain only for their selfish gain though it is always portrayed in public interest colouration. The real motive is just to deceive the public to get unmerited favour from the masses.
They have been in power for many years now, what have they achieved apart from borrowing from all parts (locally and internationally).

Now, Buhari and APC are lending other countries money. Lol

The internet never forgets.

ZoneBs, oya come and defend, work don come.

The most developed countries in the world were built by loans, government borrows 22b and uses it for development it will bring about success worth over 60b And tax over that period will pay for the loan over time

Be like farming with seeds, loans are not bad na poor management be the problem, so far Buhari has landmark projects to point at for these loans


It's done all over the world, na small pikin and fear mongering dey worry una, Borrow as much as you can use it properly pay back and borrow more but make sure u use it to develop the country that's the main koko

All business used loans to become big, stockechange is loan self, just that the money is small

The thing is el rifai was using the problems we have for politics.

Under GEJ we took loans because the oil price, while sky high was not enough for us to meet our needs.

What GEJ should have done was

1. Save save save

2. Remove subsides on fuel so that investment and jobs can flow into the oil sector.

3. Properly privatised power.

El midget was busy playing the political game . Just like usual

[s]

iamJ:
The most developed countries in the world were built by loans

government borrows 22b and uses it for development it will bring about success worth over 60b

And tax over that period will pay for the loan over time

Be like farming with seeds, loans are not bad na poor management be the problem, so far Buhari has landmark projects to point at for these loans


It's done all over the world, na small pikin and fear mongering dey worry una


Borrow as much as you can use it properly pay back and borrow more but make sure u use it to develop the country that's the main koko

All business used loans to become big, stockechange is loan self, just that the money is small

[/s]

Then why were you zombies complaining when Jonathan took loans that was not even up to what Buhari has borrowed so far

Buhari wan borrow 22.7b dollars

APCHaram:
[s][/s]

Then why were you zombies complaining when Jonathan took loans that was not even up to what Buhari has borrowed so far

I didn't complain, people mostly complain when they hear figures and aren't seeing developments

I didn't see developments worth Jonathan's loans but I didn't complain cause complaining is useless

They will handle it on their own

Normally they aren't supposed to tell us about loans but the loan givers want everybody to hear, so if government change their money is safe

So u self knowing is privilege enough

[s]

Gnaeusmagnus:
The thing is el rifai was using the problems we have for politics.

Under GEJ we took loans because the oil price, while sky high was not enough for us to meet our needs.

What GEJ should have done was

1. Save save save

2. Remove subsides on fuel so that investment and jobs can flow into the oil sector.

3. Properly privatised power.

El midget was busy playing the political game . Just like usual

[/s]

When the APC Governors took the FG to court over the excess crude account nko

When the APC Reps led by Gbamajilia or whatever his silly name is demanded that the budget benchmark be increased citing that Oil was high and this was the time to spend nko

Even that babalowo Rauf Aregberascal kept bemoaning his parasitic state's allocation claiming it was too small in the midst of high crude prices

The fact is that the APC governors were and still are the most corrupt, wasteful and inept governors ever

It is no secret that all APC states are heavily indebted due to loans entered by them during the Jonathan era.

What did they do with the money they borrowed

The reason why we are borrowing heavily is simple.

Bubu took over in 2015...when oil was at $75 per barrel. And the price went down to $30 by 2016, and then up to $80 now it is at $45 today.

Meanwhile , in 2012...we needed oil to be at $120 to fund a budget with surplus. Now we need oil to be at $140 to fund a budget with surplus.

So, Buhari has to borrow.

We could have reduced borrowing by cutting subsides on fuel and on power (what happened in 2016 was that government raised the price of PMS to a point where it could pay subsidy comfortably). We don't..because we 'need subsides'......so loans are the alternative.

Even NTA....if every Nigerian paid 20000 naira annually as TV licence, NTA would have never needed a loan. But Nigerians would protest if a TV licence fee was brought in...so loans.

APCHaram:
[s][/s]

When the APC Governors took the FG to court over the excess crude account nko

When the APC Reps led by Gbamajilia or whatever his silly name is demanded that the budget benchmark be increased citing that Oil was high and this was the time to spend nko

Even that babalowo Rauf Aregberascal kept bemoaning his parasitic state's allocation claiming it was too small in the midst of high crude prices

The fact is that the APC governors were and still are the most corrupt, wasteful and inept governors ever

It is no secret that all APC states are heavily indebted due to loans entered by them during the Jonathan era.

What did they do with the money they borrowed

At the end of the day, if GEJ had called the governors bluff, and refused to give them money it won't matter. (And he was a poor saver, no amount of cancelling is going to change that. The governors struck because they wanted their own cut...and many of them were also in PDP.)

(You are missing my pooint , like most Nigerians, because the argument is about getting your side in power, not about development).

The thing is, our economy is tied to the prices of the things we sell. If oil goes up to $140 to day, people would start hailing Buhari as the master, when in reality, we are just as broke as before....and the economy still is vulnerable to oil price fluctuations.

I still stand by my point. I was one of those who backed GEJ's price icnrease in 2012 because I could see the long term benefits, unlke many APC members. And by extension, PDP members.

I'll leave you with this point. El Midget was wrong, as was your side. We shall take loans until we learn that true development comes when we increase the production of industrial goods,whose prices we can control, and which would earn us more forex than oil ever would, and stop relying on oil, whose price we don't control

[s]

Gnaeusmagnus:
The reason why we are borrowing heavily is simple.

Bubu took over in 2015...when oil was at $75 per barrel. And the price went down to $30 by 2016, and then up to $80 now it is at $45 today.

Meanwhile , in 2012...we needed oil to be at $120 to fund a budget with surplus. Now we need oil to be at $140 to fund a budget with surplus.

So, Buhari has to borrow.

We could have reduced borrowing by cutting subsides on fuel and on power (what happened in 2016 was that government raised the price of PMS to a point where it could pay subsidy comfortably). We don't..because we 'need subsides'......so loans are the alternative.

Even NTA....if every Nigerian paid 20000 naira annually as TV licence, NTA would have never needed a loan. But Nigerians would protest if a TV licence fee was brought in...so loans.

[/s]

Stupid rants.

Most of that money made during the oil price spike during Jonathan was funneled back to the economy and made available for forex.

This is what not only made the naira stable at around 150-170 but also went a long way in subsidizing imports. The fallout was a booming import based service economy.

Don't forget that the Govt was paying a reciprocate higher amount to subsidize fuel imports.

For you to even dare propose TV licence towards maintaining that moribund and useless NTA shows you are a heavy APC zombie.

[s]

Gnaeusmagnus:


At the end of the day, if GEJ had called the governors bluff, and refused to give them money it won't matter. (And he was a poor saver, no amount of cancelling is going to change that. The governors struck because they wanted their own cut...and many of them were also in PDP.)

(You are missing my pooint , like most Nigerians, because the argument is about getting your side in power, not about development).

The thing is, our economy is tied to the prices of the things we sell. If oil goes up to $140 to day, people would start hailing Buhari as the master, when in reality, we are just as broke as before....and the economy still is vulnerable to oil price fluctuations.

I still stand by my point. I was one of those who backed GEJ's price icnrease in 2012 because I could see the long term benefits, unlke many APC members. And by extension, PDP members.

I'll leave you with this point. El Midget was wrong, as was your side. We shall take loans until we learn that true development comes when we increase the production of industrial goods,whose prices we can control, and which would earn us more forex than oil ever would, and stop relying on oil, whose price we don't control

[/s]

You are an irredeemable zombie.

GEJ had no option because a court ruled in favor of the APC Governors.

GEJ is not like your Buhari that disobeys court orders!

If Jonathan is a bad saver as you say, how much has your zombie king saved.

Note: Forex is not being injected into the economy like during GEJ and even at so, you pay higher at more than double what you would have paid during GEJ.

Go to CBN website and check how much our Foreign reserves were as at May 28, 2015 and compare to what we have now.

This should tell you which of these administrations was wasteful.

APCHaram:
[s][/s]

Stupid rants.

Thanks for the insult.

Most of that money made during the oil price spike during Jonathan was funneled back to the economy and made available for forex.

Which we used to import things we should be manufacturing. That's my problem. Also, we don't control the oil price...so when the price falls, things go bad.

This is what not only made the naira stable at around 150-170 but also went a long way in subsidizing imports. The fallout was a booming import based service economy.

Which in the long run is ruinous for our economy. Stong economies export things....weak economies import everything. That's why Arab countries cannot beat Israel...they are net importers, Isreal exports industrial products.

Don't forget that the Govt was paying a reciprocate higher amount to subsidize fuel imports.

Which was bad for the economy. Subsidies work this way, you sell stuff at N100 after buying them at N50 . Government steps in, tells you to sell them at N30 and pays a subsidy of N30 per piece. Zero profit, no investment, reduced ability to create jobs (That's why many of the private refineries who have collected licences have not built anything. Why refine fuel above N160 and sell at N140?? Okay...)

For you to even dare propose TV licence towards maintaining that moribund and useless NTA shows you are a heavy APC zombie.

Because a TV licence fee is the only way NTA can raise money instead of us taking a loan of $500million and making Lai and his gang happy.Plus, it gives us the power to put more pressure on the government if the money is not being used well (that's a small part of the reason why BBC works. Licence fees give british viewers the power to influence how the BBC works).

APCHaram:
[s][/s]

You are an irredeemable zombie.

GEJ had no option because a court ruled in favor of the APC Governors.

GEJ is not like your Buhari that disobeys court orders!

If Jonathan is a bad saver as you say, how much has your zombie king saved.

Note: Forex is not being injected into the economy like during GEJ and even at so, you pay higher at more than double what you would have paid during GEJ.

Go to CBN website and check how much our Foreign reserves were as at May 28, 2015 and compare to what we have now.

This should tell you which of these administrations was wasteful.

1.Foreign reserves at May 2015, 32 billion dollars

Foriegn reserves at September 2015...28 billion dollars

Foregin reserves now...39 billion dollars.

2. You still miss my point. Whether we save or not, our economy is still oil dependent...we don't control the price of the stuff we are selling. So, our forex reserves are always going to be precarious.

Even if GEJ saved, it still won't make me happy. Buhari saving does not make me happy. Because our earnings up till now are tied to the oil price...and the oil price has never been at a level that benefits us.

Get that.?

Gnaeusmagnus:


1.Foreign reserves at May 2015, 32 billion dollars

Foriegn reserves at September 2015...28 billion dollars

Foregin reserves now...39 billion dollars.

2. You still miss my point. Whether we save or not, our economy is still oil dependent...we don't control the price of the stuff we are selling. So, our forex reserves are always going to be precarious.

Even if GEJ saved, it still won't make me happy. Buhari saving does not make me happy. Because our earnings up till now are tied to the oil price...and the oil price has never been at a level that benefits us.

Get that.?

So we should not save again.

Were you not complaining in this thread that GEJ refused to save and that is the reason why Buhari has no choice to borrow

Pls stop changing the goal post

APCHaram:


So we should not save again.

We should, sport fan

Were you not complaining in this thread that GEJ refused to save and that is the reason why Buhari has no choice to borrow

Classic missing of point....

Let me repeat what I said upthread...

We shall take loans until we learn that true development comes when we increase the production of industrial goods,whose prices we can control, and which would earn us more forex than oil ever would, and stop relying on oil, whose price we don't control



That says it all, and that's why saving money either way, won't work. It would just at best involve kicking the can down the road a little while longer.

Pls stop changing the goal post

The issue with you is that you want your side to win, same as the APC chaps like the gills guy want their side to win. Development does not come into it.(and that's one reason why I refuse to vote for either PDP or APC).

[s]

Gnaeusmagnus:


We should, sport fan



Classic missing of point....

Let me repeat what I said upthread...

We shall take loans until we learn that true development comes when we increase the production of industrial goods,whose prices we can control, and which would earn us more forex than oil ever would, and stop relying on oil, whose price we don't control



That says it all, and that's why saving money either way, won't work. It would just at best involve kicking the can down the road a little while longer.



The issue with you is that you want your side to win, same as the APC chaps like the gills guy want their side to win. Development does not come into it.(and that's one reason why I refuse to vote for either PDP or APC).

[/s]

Mr Man, stop blaming Jonathan for Buhari's stupidity and recklessness

Now, tell me why El Rufai and the rest of the demonic APC are clapping for Buhari's borrowing spree while they condemned GEJ for borrowing far less than what Buhari has already

APCHaram:
[s][/s]

Mr Man, stop blaming Jonathan for Buhari's stupidity and recklessness

You brought GEJ into it with your original post, but the bad things Buhari has done for this economy too exist

1.He has refused to remove subsides fully...which is stifling investment and jobs in the fuel industry

2.No longer active about saving

3.Keeps subsides in place in power too, which is why we have zero ivnestment (apart from Siemems) and which is hamstringing the DISCOS and GENCOS.

4.No active spending on educaiton and even transport

5.Border closure (1970'S METHOD for 2020 method)...again to avoid removing fuel subsidies.

And so on

Now, tell me why El Rufai and the rest of the demonic APC are clapping for Buhari's borrowing spree while they condemned GEJ for borrowing far less than what Buhari has already

I already told you upthread,....politics. The APC is not above using the symptoms of our problem as a means of bashing the PDP...which keeps people DISTRACTED and prevents from demanding what they themselves are doing..and allows them to chop in peace.

(Which is why, again, I can't vote for APC).

APCHaram:
Mr Man, stop blaming Jonathan for Buhari's stupidity and recklessness
Now, tell me why El Rufai and the rest of the demonic APC are clapping for Buhari's borrowing spree while they condemned GEJ for borrowing far less than what Buhari has already

Sheer hypocrisy and wickedness.

Internet never forgets

Bursted

Hypocrites everywhere!

Meanwhile, whilst Nigeria wallow in recession and epileptic economy sequel to the cluelessness of the government of the day as a result of ethnoreligious cum nepotistic tendencies,her South African counterpart is busy setting her economy firmly standardized using tribalistically despised Nigerian best economic brains.

Egalitarian1:
Hypocrites everywhere!

Meanwhile, whilst Nigeria wallow in recession and epileptic economy sequel to the cluelessness of the government of the day as a result of ethnoreligious cum nepotistic tendencies,her South African counterpart is busy setting her economy firmly standardized using tribalistically despised Nigerian best economic brains.

The rejected stone is now the corner stone

APCHaram:
[s][/s]

Then why were you zombies complaining when Jonathan took loans that was not even up to what Buhari has borrowed so far

Because Jonathan made like times ten of what Buhari made from crude oil.

Jonathan also inherited like 50 billion dollars in federal reserves.

What did he do with all those money?

Why did he have to borrow a dime?

[s]

Sirjamo:
Because Jonathan made like times ten of what Buhari made from crude oil.

Jonathan also inherited like 50 billion dollars in federal reserves.

What did he do with all those money?

Why did he have to borrow a dime?

[/s]

List one road project started by this govt and complete,

Coz I don't know why 6yrs can't be use to complete a project.

They are busy borrowing to spend anyhow. Jona failed to save, but the pressure was on him by the Governor,

But in this govt there is no pressure coz we are in military style, now list the project he started and complete and use it to justify the borrowing.