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Nairaland Forum / Nairaland / General / Politics / If A Country Split, Who Pays Their Debt (4655 Views)
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If A Country Split, Who Pays Their Debt by AlexBells(m): 10:17am On Oct 02, 2020 |
I need an answer please, let's assume Nigeria split today or tomorrow, who would China or foreign governments hold responsible for the money they borrowed to Nigeria. I'm curious please 2 Likes |
Re: If A Country Split, Who Pays Their Debt by MajesticKris: 10:18am On Oct 02, 2020 |
The depth has been paid for on the Cross... 36 Likes 2 Shares |
Re: If A Country Split, Who Pays Their Debt by AlexBells(m): 10:19am On Oct 02, 2020 |
MajesticKris:Alaye, know when to be serious Jarry, 6 Likes 4 Shares |
Re: If A Country Split, Who Pays Their Debt by hisgrace090: 10:20am On Oct 02, 2020 |
Anyone that consumes the credit will pay. One region will pay 95% while another will pay 5%. As simple as that. 62 Likes 4 Shares |
Re: If A Country Split, Who Pays Their Debt by AlexBells(m): 10:21am On Oct 02, 2020 |
hisgrace090:Is there anyone that did not consume the credit so are you saying, when Nigeria split china can still go to Arewa republic, or Biafra or Oduduwa or Middle Belt Republic to claim their loan, what's the verifiable fact that these money were not even looted or used for the project they were borrowed for, or did the government drop any collateral 2 Likes 1 Share |
Re: If A Country Split, Who Pays Their Debt by Nobody: 10:29am On Oct 02, 2020 |
AlexBells:The loan are used to carry out projects right ? ...the region that inherited the projects would pay for the loan The other general loan would be shared by 36 , or by local government as they benefited from it Infact everyone would pay for what they consumed 8 Likes 2 Shares |
Re: If A Country Split, Who Pays Their Debt by baralatie(m): 10:31am On Oct 02, 2020 |
Igbochief001:everybody will pay for what it consumed meaning that mambilla debt of $5 billion ![]() Lagos rail of $10 billion ![]() 8 Likes 2 Shares |
Re: If A Country Split, Who Pays Their Debt by Nobody: 10:32am On Oct 02, 2020 |
baralatie:simple ...so south east would pay the least 6 Likes |
Re: If A Country Split, Who Pays Their Debt by baralatie(m): 10:35am On Oct 02, 2020 |
Igbochief001:who told you? okorocha $2 billion that anambra gov international $1 billion what make I go calculate Al the gbese collected by governors 1 Like |
Re: If A Country Split, Who Pays Their Debt by criuze(m): 10:36am On Oct 02, 2020 |
ask the born to rule |
Re: If A Country Split, Who Pays Their Debt by flyingpig: 10:36am On Oct 02, 2020 |
MajesticKris: ![]() 4 Likes |
Re: If A Country Split, Who Pays Their Debt by AlexBells(m): 10:36am On Oct 02, 2020 |
Igbochief001: Okay what about loans borrowed to do something like fight covid 19, like loans not on traceable capital expenditure, what if the government of the new countries refuse to pay, who shares what country gets what ration |
Re: If A Country Split, Who Pays Their Debt by flyingpig: 10:36am On Oct 02, 2020 |
criuze: ![]() 3 Likes |
Re: If A Country Split, Who Pays Their Debt by baralatie(m): 10:38am On Oct 02, 2020 |
AlexBells:simple Nigeria goes on every where lockdown nobody go go anywhere until money is paid in full |
Re: If A Country Split, Who Pays Their Debt by HAccord: 10:40am On Oct 02, 2020 |
If 3 people enter mama put, no be who chop pass dey pay pass? ![]() Abeg check signature for cheap honda for sale. 4 Likes |
Re: If A Country Split, Who Pays Their Debt by AlexBells(m): 10:43am On Oct 02, 2020 |
HAccord: If three people enter Mama put and say borrow pay for one plate of rice, they come reach house, one two people come later finish most of the food, no bi three of them Mama put go hold, because na the matter we dey settle since 1 Like |
Re: If A Country Split, Who Pays Their Debt by prince2pac(m): 10:44am On Oct 02, 2020 |
let me pitch my tenth here, I have wanting to ask this same question |
Re: If A Country Split, Who Pays Their Debt by Commonsense99: 10:45am On Oct 02, 2020 |
![]() In the event of a break up, assets and liabilities are equally shared, debts are also equally shared. Reason why concentrating government projects in the North with borrowed money is seen as a smart move by PMB, that is why the south is constantly kicking, no one knows tomorrow. 4 Likes 1 Share |
Re: If A Country Split, Who Pays Their Debt by baralatie(m): 10:48am On Oct 02, 2020 |
Commonsense99:you are missing the point! if katsina earns $2 billion in debt consumption.katsina cannot call abia to share in it. the rule is still the same wether they are together or they split 5 Likes |
Re: If A Country Split, Who Pays Their Debt by Nobody: 10:49am On Oct 02, 2020 |
AlexBells:We go divide am by number of states na. ..each state pay there own ...states in turn divide by LGA |
Re: If A Country Split, Who Pays Their Debt by Nobody: 10:50am On Oct 02, 2020 |
baralatie:Bros all south east debt combined is not up to $2 billion dollars stop lying 2 Likes |
Re: If A Country Split, Who Pays Their Debt by AlexBells(m): 10:50am On Oct 02, 2020 |
baralatie:We are talking about Nigeria where there is no visible project to show for these borrowing even in the North, unless it is the paper thing, in which way it won't be funny |
Re: If A Country Split, Who Pays Their Debt by AlexBells(m): 10:53am On Oct 02, 2020 |
baralatie:We are not talking about state loan that one is simple, we are talking about federal loans used to construct something for everyone's use. |
Re: If A Country Split, Who Pays Their Debt by Admiral49(m): 10:53am On Oct 02, 2020 |
Then we go play that Ajegunle song that goes like this " wetin don loss don loss" 5 Likes |
Re: If A Country Split, Who Pays Their Debt by AlexBells(m): 10:55am On Oct 02, 2020 |
Igbochief001:Maybe local government go divide by constituency, constituency go decide give individuals, now you, you go gree pay this loan ?? 1 Like |
Re: If A Country Split, Who Pays Their Debt by gidgiddy: 11:00am On Oct 02, 2020 |
AlexBells: Lets assume Nigeria splits into three new countries, Oduduwa Republic, Arewa Republic and Republic of Biafra. What usually happens is that before the actual split, or immediately after it, representatives of all three countries will meet to discuss the sharing of assets and liabilities. Debts will make up part of the liabilities. If money was borrowed from China to execute a particular project, you pay for the part of the project that affects you. Assuming 10 million Dollars was borrowed from China to build a rail project that starts in the North and terminates in the South, any territory that benefits from the rail project will pay its share of the 10 million Dollars used in building the rail in that territory. 7 Likes 1 Share |
Re: If A Country Split, Who Pays Their Debt by chrisxxx(m): 11:01am On Oct 02, 2020 |
The whole idea of grossly burying Nigeria into debt is to ensure Nigeria does not split. This is an advice from the UK. When you borrow money from China they will ensure you don't split especially if there is a side that wants to stay. They will help arm the them to ensure the country does not split. 10 Likes |
Re: If A Country Split, Who Pays Their Debt by Nobody: 11:01am On Oct 02, 2020 |
AlexBells:We igbos don't mind paying Nigeria debts if it would secure us freedom Nigeria debts is nothing a serious nation can pay it in 5 years n still grow 7 Likes |
Re: If A Country Split, Who Pays Their Debt by baralatie(m): 11:03am On Oct 02, 2020 |
AlexBells:not funny me? the loan creditors have documents that shows where these money are pumped into.For example,China exim bank paid Nigeria $5 billion to build mambilla hydro plant and these hydro plant is domicilled in a new fragmented country.obviously you shouldn't expect Lagos State of rivers State to now share in that debt it is impossible. likewise the debt of second Niger bridge ($1 billion) in anambra will not e shared with ogun state the $2.2 billion 4th mainland bridge will not be shared with Kano. Now wether be or wether not.it is found that these debt monies were stolen or the projects were unsustainable.it does not change the legal status of the debtor. and if it so happens that the fragments are screaming they cannot pay.the whole geographical Land mass of Nigeria will be put on total lockdown 5 Likes |
Re: If A Country Split, Who Pays Their Debt by AlexBells(m): 11:09am On Oct 02, 2020 |
baralatie:What about monies borrowed for school feeding programs |
Re: If A Country Split, Who Pays Their Debt by baralatie(m): 11:10am On Oct 02, 2020 |
AlexBells:it is the same principle! Federal loans comes in different states there is the loans collected to build roads, there is the loans collected to build rail there are special projects there are loans giving to states to fund their shortfalls there are promissory of federal govt to states every part will collect what he or she owes wether it was executed or not 2 Likes |
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