What a funny way of looting again, why not collect a loan your administration/regime will pay back if you have to collect loan Mr. President? why collect loan our unborn generation will be dragged to pay in pain, why painting the future black for us with your monumental failures from Oil Subsidy loot, unnecessary increment in fuel price, failed SURE program, uncalled expenses on Niger-Delta rubbish militants when graduates are suffering of joblessness.

Mr. President please where is Ibori`s returned loots? Please you are learned and should be rightly advise not to take a loan your administration will not end up paying by the end of your tenor, otherwise we call it Scam and Looting of the highest class.

Please note, you will give account of the 1st in the history of Africa massacre of thousands of people by the faceless terrorist group(Boko haram) in the Northern Nigeria and Dana Airline sudden mass execution when the airline was not properly checkmated and scrutinized.

misreal: de only problem nigerians r aving is dat dey do nt trust deir government.all we shud do is wait nd see like gej once said.we cnt keep condeming evwi step he takes it wunt help him.he said by 2013 we will celebrate him so lets just watchout instead of outright condemnation of wat his is doin.afteral na wetin obj no fit do for 8yrs na it we dey carry put for gej head to do for 4yrs

Are you saying NIGERIANS SHOULD WAIT TILL JESUS COME......lol, I think you must be related to one of the FAT COWS that steals public fund....You still don't get and I don't think you'll ever get it.Electricity should be their priority and not F*****G terminals that they have no idea of what it takes to maintain ANYTHING.We need electricity in this 21st F*****g century, if you've are well enlighten you'll know that's Nigerians need electricity to power both INDIVIDUAL AND PRIVATE BUSINESSES, the whole country is in Darkness, passengers are constantly sweating on their arrival at the MM AIRPORT and NO SOAP in the toilet, cleaner are always patronizing you as if you have to ask for soap after using the toilet.Wake up my friend, this is what BABA 70 called AUTHORITY STEALING......SUCK NIGERIA DIE.

ichieakpo: which way Nigeria

enlooting way now

SimonAndal: No wonder Enugu is being overrun by Asians. I went into the town yesterday and there was 1 Asian for every 10 Nigerians.

lols...the govt did quote in his first campaign that he's gonna turn the place to "obodo-oyino' (so he's definitely fulfilling a campaign promise)

It seems to me NIGERIAN government are the WORLD WICKED LEADERS.....how can they go to China for loan as well as providing substandard jobs for the Nigeria.

Baba Barawo's.....
All I can say about this issue is that NIGERIANS ARE THE AUTO OF THEIR OWN MISFORTUNE, we worship money and there's no sincerity among household let alone the government.

Shey stella oduah talk say na 4m BASA fund & royalities paid 4m airlines dem won use do renovation & build those new terminals,dat dey re nt borrowing.wat does she need 500 million 4 again now?na free moni b dat na.& dey say jona no b reterdeen...........wat is all dis madness na.fashola/oshomole/akpabio nigeria needs u,cos 2 me dey re d only governors we have in nigeria,mayb rochas 2

Nice move by FG. But i dey laff

HNosegbe:

1. Since you have "confidence on what the system has to offer" why don't you tell us the "structural and civil engineers" carrying out the work as well as their qualifications, so that we can appraise them?

2. Did I tell you I want to create a separate agency to manage the projects? Is it wrong to ask questions? Didn't I start by saying that the interest rate and moratorium are reasonable?

3. Good. So if you don't know, hush it, while we ask those who do.
4. I wonder if you were in the country during the fuel subsidy probe when govt officials could neither give us the number of barrels being produced per day nor the number of litres of petrol imported per day.

If questions such as the ones I asked are "dumb" to you, then you need help. Consult your dictionary if you don't know what "constructive criticism" means.

Yourquestions were not misplaced by rather too hasty... The intent wasn't as someone who is genuinely concerned but to generate comic comments which I think we should rise above.. Google NEXIM bank sponsored projects or make more research on them and you ll have a better insight into the proposed projects.. They may not released all te proposed funds to the Nigerian govt as liquid cash.. They take strict interest in monitoring their projects... Why I was against the unnecessary fears you started entertaining from the onset

Elueme: Yourquestions were not misplaced by rather too hasty... The intent wasn't as someone who is genuinely concerned but to generate comic comments which I think we should rise above.. Google NEXIM bank sponsored projects or make more research on them and you ll have a better insight into the proposed projects.. They may not released all te proposed funds to the Nigerian govt as liquid cash.. They take strict interest in monitoring their projects... Why I was against the unnecessary fears you started entertaining from the onset

Na wa o, so now you can read my mind to know my intent? Yepa!!!

Remind me never to cross your path again.

Nice way to move forward mr president, these projects will create employment and better the life of Nigerians in all remification. Go on GEJ

Neftanga:

PlEaSe wE nEeD tO sTop bEiNg sEnTiMeNtAl eSpEcIaLlY wHeN gErMaNe iSsUeS HaVe bEeN rAiSeD. CoNsTrUcTiVe cRiTiCiSm iS nEeDeD hErE cOs tHoSe pOiNtS rAiSeD wHeRe sUcCiNt.
ThE pRoBlEm oF pErIoDiC mAiNtEnAnCe iS sTiLl a MaJoR iSsuE tHaT gOvT sEeMs uNaBlE tO fInD a wHoLiStIc sOlUtIoN tO. We sTiLl rEmEmBeR oUr NaTiOnAl cArRiEr,oUr rOaDs tHaT biLliOnS oF nAiRa wErE aWaRdeD fOr rEpAiRs aNd tHe lIkEs.........

How do expect one to from your debris of garbage?

Aringon: Let me school you guys on this topic, when any EXIM BANK anywhere in the world finances your project be it private or public projects, they wont give you cash, instead they will convert than loan to supplying the materials, machines that will be used for the project. Like this projects financed by Chinese Exim bank, they Chinese will be the manufacturers of the materials and the rails that will be used for the projects

Can't stop laughing at your daftness,how do we pay back the loan? Let me guess,to pay back Nigeria will have to manufacture the same set of materials Exim Bank supplied us for the rail projects then ship them back to China to settle the loan, abi?
Your mumu wear thick coat, what a besotted clown.

The loan in itself is not a bad idea. If the infrastructure is commercialized, then they can pay back with the ROI they get from the general public (users).
Article didn't say however if they were actually giving the cash to the government, or building the infrastructure. I'd presume they are doing the latter.

Shey stella oduah talk say na 4m BASA fund & royalities paid 4m airlines dem won use do renovation & build those new terminals,dat dey re nt borrowing.wat does she need 500 million 4 again now?na free moni b dat na.& dey say jona no b reterdeen...........wat is all dis madness na.fashola/oshomole/akpabio nigeria needs u,cos 2 me dey re d only governors we have in nigeria,mayb rochas 2.

Its as simple as this: China give you the loan. CECC a chinese company constructs the Railway; builds the airport terminals and provides thru Huawei, the Computer cables and devices for Galaxy backbone. That way, the money they borrowed you comes back to them through their own companies in profit and with interest. Its all about GeoEcoPolitics(my coinage)

GeoEcoPolitics is simply taking new territories with your influence; money and numerical strength. The Indians practice it too. Other 1st world countries who dont have numerical strength had used other means in times past e.g UK bn a great empire etc etc.

My only worry is that with all our knowledge and exposure, we have not used the same model to colonise other African countries as we have money and numerical strength and if well used can get us influencebut we cant because nobody respects us any longer or how can Ghana respect us when we willfully spend 160billion plus annually attending their schools that is no big deal to them. The respect has since long gone that they treat us as they like ala Yellow card.

The long & short of it is that Nigeria has to wake up or it will be a forgotten nation totally as right now, our contribution to the wealth of d world is so in·fin·i·tes·i·mal that if nigeria disappeared today from the face of the earth, its demise will not be felt. What a shame

@Post

We are always borrowing! I hate that. Why can't we develop other sectors other than oil that will bring money into our economy and curb corruption and looting of public funds?

cdamsel: Shey stella oduah talk say na 4m BASA fund & royalities paid 4m airlines dem won use do renovation & build those new terminals,dat dey re nt borrowing.wat does she need 500 million 4 again now?na free moni b dat na.& dey say jona no b reterdeen...........wat is all dis madness na.fashola/oshomole/akpabio nigeria needs u,cos 2 me dey re d only governors we have in nigeria,mayb rochas 2.

The Fashola you talk of governs a state that is the most indebted in Nigeria. Lagos state tops the list of indebted states in Nigeria with a total Foriegn debt profile of five hundred million dollars.
If in doubt, review this link.http://www.punchng.com/news/lagos-kaduna-criver-ogun-oyo-top-foreign-debtors-list/

Secondly, America's debt profile rose drastically under Obama to 16 trillion dollars.http://money.cnn.com/2012/09/05/news/economy/federal-debt/?iphoneemail

What I'm driving at is that it is not wrong to borrow to finance certain critical projects. Provided that the projects for which the facility is granted is duly executed, then it is in order.
A critical X-ray of the terms of the loan shows that it is almost like a grant. No real objective mind would have a problem with this loan.

1st Project. Buying properties in Saudi Arabia

2nd Project. 2015 Presidential election Campaign

3rd Project. After party for winners of P.election

My people, These are 3 projects we borrowed $1.1Bn from China

Thank You

calculations show that nigeria makes well over N16T yearly and our budget for 2012 is only N4T plus. where is N12T?
borrowing to fund projects and spending billions on our hospitals yet non of them can go for medical attention in any of these world class hospitals.
we MUST do something different to get a different result from these sets of criminals.stealing is a culture of this pdp led govt.

This is $1.1b down the drain. Our debt profile just increased and the poor masses will as usual bear the brunt. I pity this una country i swear

I don't buy all these rail projects........



Generating constant Electricity should be Jonathan's main goal..... We need constant power supply badly...


Nigerian Economy needs to start producing. Yes people need to be able to move round through light rails, but this can come much later when we have tackled the basics.


When businesses start to spring up due to constant power supply, unemployment figures would drop, likewise, crime rates. We can then tax these springing businesses, and use the revenues to build light rails if we choose to.

Light rail shouldn't be a priority for a Country of 150 million people that can only boast of 4000 megawatt of electricity.

Its a win-win situation for the chinese. They lend us the money, they influence the contract for their companies, the money they lend to us goes back to their economy, and the end of it all, we refund the money we borrowed with an interest. Our leaders are daft sha.

jeolaxiez: i feel bad for dis failed state called naija. does it mean dis country cant raise such a meagre amount oda dan borrow? i am ashamed wth d kind f leaders we hv! mtcheeeeeew

Since 1.1b$ is a meagre AMT y don't u pls go to somalia or ethopia betterstill mali where them to fit afford the money for the mentioned infrastructure.tell me which country never borrow money for capital project

China will soon colonize nigeria.it would be worst that we would need usa intervention to break free.

HNosegbe: Though 2.5% is not a bad rate of interest (assuming there are no hidden charges) and there's a moratorium of 7 years, I still have doubts.

1. Is there any form of quality assurance testing on the materials to be used for the rail project?

2. Who will manage the rails and the airports once work is completed?

3. How do we know the money won't be diverted to somewhere else, or that the projects won't suffer cost overruns?

4. How do we know the projects won't end up on the long list of failing/abandoned projects?

5. Is it a government that cannot account for how much oil we produce that can manage foreign debt?

Until questions like these are answered satisfactorily, I remain skeptical.

Godjone: And sanusi 2geda wit Ngozi wahala says and i qoute 'd nigerian economy is d fastest growing economy of d world' end of qoute. Dis two managers shud be send on a compulsory retirement b4 they sabotage our already decayed and rutherless economy.

Every country still need to borrow at every point in time. We should be concern if the borrowing is for consumption. But this is for infrastructure.

jamace: Chei Nigerian leaders! Looting,borrowing and looting again. Our leaders have continued to mismanage our resources. What a shame on a wealthy nation like Nigeria.

lol do you realize that jonathan has raised the foreign reserves from a mere 32 billion to around 50 billion in his tenure alone?? if i were him i would steal from the less obvious reserves since people are unaware about how much its grown rather than the loan which in internationally stated, such that market women/men like urself know!

cdamsel: Shey stella oduah talk say na 4m BASA fund & royalities paid 4m airlines dem won use do renovation & build those new terminals,dat dey re nt borrowing.wat does she need 500 million 4 again now?na free moni b dat na.& dey say jona no b reterdeen...........wat is all dis madness na.fashola/oshomole/akpabio nigeria needs u,cos 2 me dey re d only governors we have in nigeria,mayb rochas 2

If you dont know wot u re talking about(and u certainly do not) why dont u ask questns and stop there?ignorant ppl who confidently mk 'points' on public fora disgust me

1025: calculations show that nigeria makes well over N16T yearly and our budget for 2012 is only N4T plus. where is N12T?
borrowing to fund projects and spending billions on our hospitals yet non of them can go for medical attention in any of these world class hospitals.
we MUST do something different to get a different result from these sets of criminals.stealing is a culture of this pdp led govt.

Anoda EXTREMELY ignorant comment made by a person(kid) who has NO clue of wot he/she is talking, yet said wit every measure of Confidence(and dat is wot is astonishing- d Confidence ppl now employ to spit ignorance in public)...'9ja makes 16T every year, budgets 4T ,so where is the 12T'- smone made dis statement on a public forum and confidently uses it as some sort of argument against anoda's *smh*

This thread just emphasizes AGAIN d tedency of many NLanders to mk contributns based on ignorance and/or emotion these days...it is amazing hw ppl can actuali dismiss dis otherwise smart strategic undertaking of govt, based on d sort of arguments(except 4 @HNosagbe- who raised important concerns and questns) on dis thread!!

Nigeria is fully capable of funding these projects! Oil rich country that it is! If the Nigerian government takes China's money, they have to work by China's rules. China will build all these things to make use of Nigeria's resources. Africa is apparently a no-man's land. What are the "leaders" doing? Do we call this new neo-colonialism through economics? When will Africa cease to remain in the dark ages? There is too much potential, and now other countries will come in and make use of the resources that we are squandering.

Leaders can keep driving their fancy cars on sh*t roads and powering up their big fancy houses with generators instead of consistent electricity. Or even flying abroad for medical care. For how long leaders of Nigeria? How long can this continue until there is nothing left to steal. North, South, East, or West--Nigeria needs to change.

Just another avenue to loote our money

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