WATCHING!!!

Who are these fools who continuously give out loans to Nigeria? Don't they seem tired of doing so?

Gramci, the GEJ supporter who often announce: 'where are the evil men of nairaland?' make thunder fire you and your GEJ

we should just hire a foreign government.....probably when obama is thru, we should just pay what our senators are earning now for him to become our president......and yes 2 guys kissing on the street is the least of my problems.........

The display of stupidity on this thread is alarming. Are these the same Nigerians that say they want uninterrupted power supply. Are we going to get it by wishing? Or prayers. The former minister of power Barth Nnaji, a professional in the Power sector said for Nigeria to meet South Africa's generating capacity, we would need to spend about $10b yearly for the next ten years, and τ̣̣ђat's just for generation alone. News like this should be greeted with enthusiasm, not the sickening pessimism on display here. Abi una no want 24hrs light again?

Kachi188: The display of stupidity on this thread is alarming. Are these the same Nigerians that say they want uninterrupted power supply. Are we going to get it by wishing? Or prayers. The former minister of power Barth Nnaji, a professional in the Power sector said for Nigeria to meet South Africa's generating capacity, we would need to spend about $10b yearly for the next ten years, and τ̣̣ђat's just for generation alone. News like this should be greeted with enthusiasm, not the sickening pessimism on display here. Abi una no want 24hrs light again? The display of stupidity on this thread is alarming. Are these the same Nigerians that say they want uninterrupted power supply. Are we going to get it by wishing? Or prayers. The former minister of power Barth Nnaji, a professional in the Power sector said for Nigeria to meet South Africa's generating capacity, we would need to spend about $10b yearly for the next ten years, and τ̣̣ђat's just for generation alone. News like this should be greeted with enthusiasm, not the sickening pessimism on display here. Abi una no want 24hrs light again?

we dont want 24hrs light, we want 23hrs.....how much wull that cost?

yahrant140: Let we youth raise and fight for our right,if not so this government people will used we citizen to borrow money one day!

before that happens I don port to Ghana.u ve a point there!

borrow is easy but to pay it back is very hard.

There are many countries in the world who borrow and borrow and than they could not pay it b ack.

Please don't look at america, this country is not what it looks and when you know real economic than you know every time america has a probolem with money the raiting agencies found countries to put them down that america looks good.

I think you don't know that in america people could buy houses with no money only from loan from the banks and the could take more loans from the banks that they have to pay for the house, it works for a long time but when there come a little problem with the economic you see what happen.

when you want a person who could help nigeria to get better please look in europa not china not asia because you have to look in china behind and than you know why china can work so cheap, you don't know what they make with there country.

chi 3280: Who are these fools who continuously give out loans to Nigeria? Don't they seem tired of doing so?

Because Nigeria is credit worthy!

Also if perfectly normal (and even advised) to borrow for capital projects.

Also they loans are NOT always money, many times its the cost of the equipments.

Maxymilliano: The country's problem is not borrowing money but to put it into effective use ...

The Minister should learn to talk less, and more of actions.

You took the words outta my mouth!

plaindealer: Borrow money to fund government


Borrow money to repaint airports


Borrow money to buy old and obsolete locomotive trains


Borrow money to build power stations


Borrow money expand power transmission lines

Oil theft is costing Nigeria billions/day

...meanwhile, Tompolo the protector of Nigeria's maritime waters and oil infrastructures just acquire 13 seater private jet..


Fresh air...oh I mean odious air all over the place...

better than borrowing money to build toll gates every 10km of road constructed with tax payers money

Kachi188: The display of stupidity on this thread is alarming. Are these the same Nigerians that say they want uninterrupted power supply. Are we going to get it by wishing? Or prayers. The former minister of power Barth Nnaji, a professional in the Power sector said for Nigeria to meet South Africa's generating capacity, we would need to spend about $10b yearly for the next ten years, and τ̣̣ђat's just for generation alone. News like this should be greeted with enthusiasm, not the sickening pessimism on display here. Abi una no want 24hrs light again?

No mind them my guy...dem think sey 24 hour light na moi-moi.Even the eko-oni bajes whose government borrow money to fund burial are here talking tra-sh

Our leaders has a very low or no managerial skills to handle the affairs of this country.

Doesn't the country sell oil.Where does all the money go to....Why do we keep deceiving ourselves.When they want to talk,they talk of oil thieves. But Come to talk of it,who are the oil thieves? Is it you and me?Ask your self ,have you seen crude oil before,do you have a vessel to lift?It is the same Government officials that steal this oil and come out to disgrace themselves on CNN and BBC asking the world to help them stop oil thieves?What a shame! Somebody was mentioning South Africa,do you think they borrow money on per second billing the way the Nigerian Government does?
Why borrowing money to bankroll elections and give the masses stories.
Friends we have been on the same spot for decades now hearing the same lies and excuses from the Government of the day.
Let us not be fooled,cos they are borrowing money today to enslave their children and children's generation .

This government should learn to perform while embezzling or woe be unto their unborn generations.

God why was i born a nigerian?

We pray it should be used well.

IF ITS POSSIBLE, LET FGN HIRE AN EXPATRIATE POWER MINISTER AND WORKERS REPORTING DIRECTLY TO OBAMA, AND OBAMA IN TURN BRIEFING GEJ,IF NOT THE $1.6BILLION LOAN WILL JUST VANISH, AFTER WHICH A COMMITTEE WILL BE SETUP TO FIND OUT WHAT HAPPENS. NAIJA I HAIL UNA.

What makes u think the country is not already broke.
How can u be borrowing money that u already have, and is being stolen by thieves that u know, but dont have the pancreas to open ur mouth and have them all arrested.
Sometimes i dont even blame the govt, i blame stupid people who see this happening, but instead are enjoying standing near enugu airport watching ethiopian fly.
In other countries, all this would have stopped long ago.
But here, no hope.
A country that is so bloody rich, but yet extremely poor only for bribery, looted and extorted money flying around and they call it economic progress.
May thunder fire the man who discovered democracy cos he only brought misery to this world.

Our govt do not know how to communicate properly. Many will think that these funds were recently borrowed. I know Nigeria issued Euro bonds not quite long. The bonds were over-subscribed. Bonds are long debt terms (for those who don't know. It just a piece of paper to acknowledge debt).

I don't really want to talk about the other borrowed funds from world bank and the rest. However, I would suggest that the finance ministry or the DMO publish a monthly digest to carry citizenry along on its budgetary needs (which maybe deficit or surplus), funding needs, internal revenue generation, debt management (which would include monthly interest paid locally and internationally) and more importantly, which projects these funds are being channeled to. They should not also forget to include recurrent expenditures (so Nigerians can see how much govt officials are spending on the monthly basis).

I believe this will help before people start screaming another debt again.

Sometimes I wonder what they do with the funds in Foreign Reserve account and the Sovereignty wealth fund. Are these funds yielding interest where they are? Well it's a good thing JP Morgan has been contacted to manage our sovereignty fund.

al-qaeda:
What makes u think the country is not already broke.
How can u be borrowing money that u already have, and is being stolen by thieves that u know, but dont have the pancreas to open ur mouth and have them all arrested.
Sometimes i dont even blame the govt, i blame stupid people who see this happening, but instead are enjoying standing near enugu airport watching ethiopian fly.
In other countries, all this would have stopped long ago.
But here, no hope.
A country that is so bloody rich, but yet extremely poor only for bribery, looted and extorted money flying around and they call it economic progress.
May thunder fire the man who discovered democracy cos he only brought misery to this world.

There is no country that doesn't borrow. Our problem is transparency and accountability.

unmask: we dont want 24hrs light, we want 23hrs.....how much wull that cost?

It will cost $10b ANNUALLY!! Thats 1/3 of our annual budget!
http://www.punchng.com/business/business-economy/fg-targets-10bn-annual-investment-in-power-sector/

and a Separate 25bn USD for GAS... alone
http://businessdayonline.com/2013/03/nigeria-needs-25bn-investment-in-gas-for-sustainable-power-reform-2/

2013 Federal budget is $31b!
http://www.reuters.com/article/2013/02/26/us-nigeria-budget-idUSBRE91P0X520130226

Eneze1:

we could see the impact

yes na, ur long neck and big head is evident.
Hold up, toll fare, slum life, multiple tax, hike in sch fees wan kill u and u see they celebrate. #sufferingandsmiling

ABEG SUMONE SHOULD ANSWER THIS.....Y CAN'T THE SILLY GOVT BORROW MONEY TO PAY OFF ASUU!!!

Boss13:

There is no country that doesn't borrow. Our problem is transparency and accountability.

Bros, we agree. Would you borrow to fill ur tank knowing that ur tank is leaking. Be honest. Haba...its too much now.

What more can I say?

What a fruitless project. Stop fooling us.

Hi everybody

rill: ABEG SUMONE SHOULD ANSWER THIS.....Y CAN'T THE SILLY GOVT BORROW MONEY TO PAY OFF ASUU!!!

It is not advised to borrow money for consumption, but for capital project. Capital projects has a beginning and end.
Capital projects actually generates DIRECT economic activities which can be used to pay off the debt.

Its best to reduce you consumptions.

Bad news of all

Eneze1:

we could see the impact

then shutup and wait for the impact of this one too