victor08: [size=18pt]FG Is proposing to buy high tech sophisticated military equipments and people are here talking rubbish about JONATHAN. during election vote for the crook you know that will move the country forward.

see what GEJ whats to buy for our military.

40 Attack Helicopters

2 MuLti-purpose war-ships(DDG 110)

100 Armoured tanks & launchers

Recruitment and compensation for soldiers...
[/size]
Who said $1 billion is too much should have a rethink!

YoursGEJ: To be honest I thought the $1 billion loan issue was just a rumor. Somebody please tell me that our retardeen of a president is not actually seeking a loan to fight the terrorists he is funding. When you think Jonathan cannot do anything less stu_pid, he comes up with new gymnastics.

Rather than plugging leaking holes, the goat wants to go and borrow. This is similar to what happened with fuel subsidy where he preferred to have Nigerians pay 3x for petrol while oil marketers were taking billions without doing a single thing.

Ok, what happened to the hundreds of billions from the defence budget? How will he pay back the loan? Will the money generate interest when it is put to work? Where is the proof for a return on investment that will convince a sensible organization to part with that amount of money? Will they even use it for what they claim?
Abi dem go use am to impeach more opposition governors, buy gold-plated iphone and distribute at their next owambe and buy paper to sign MoUs wey no go ever result in anything

And a human being with brain will vote this man in 2015

Doing the same thing over and over again and expecting a different result is fooolishness - Albert Einstein

Ashonibarenla:

i second this.

WombRaiders:

The foolishness on this thread is unprecedented even for nairaland Politics section standards

Just as the federal budget makes provisions for expenditure either in the form of recurrent or capital so is the budget implemented to ensure savings either in the local domestic market or oversees. The latter obligatory responsibility are necessitated in order to ensure that you can have a budget the coming here.

The boko haram insurgencies requires different strategy involving investment in hi-tech hardware. This is an extra-budgetary obligation that was not captured in this years budget. Do you expect the FG to dip into other sectors to fund the war on terror? Our external reserves are very low as it stands. A country like Nigeria (the largest economy in Africa) ought to have an external reserve 10 times what we have shored up.
To further dip into the piggy bank will adversely affect the value of the Naira and hence lead to currency devaluation and severe inflation. This is not an option.

The best option is to shop for a loan facility that will be flexible and cheap which will not affect our economy down the line. Mind you the FG will not be approaching UBA or Zenith with their cut throat lending rates but international banks or countries like China or Russia. The loan could at worst be a single digit on the high side or be zero percent.

For Gbajabiamila to open his illiterate trap to suggest we use ND oil is the height of stupidity. Given that oil price can never crash if we trade our oil for cash in advance you can bet that it will be far lower than what is being sold on the international market now and anytime in the future.

All you APC ROACHES should take your greasy hands off ND oil. If Nigeria disintegrates come 2015 it is the ND that will be given the bill to pay for a war caused by useless senseless abokis desperate for power and oil loot.

lordmayor4:

You are a complete definition of a slowpoke... so what 3 trillion couldn't do, 1 billion $ will do?

jerryjere: am a big fool,Gej is a r'etarded being like me wat did u expect him to do wen he's r'etarded see whom u are fighting even d America France and others are laughing at the intelligence of our leaders thank you for blaming someone who is a useless old man like my father

bignene: 3rd to comment.

hushmail: d truth of d matter is that d military is losing d war against BH
something drastic needs to be done
gej has suggested $1bn, let him have it!
senate shld monitor how its spent
thats oversight function

my life is worth more than $1bn

see nigerians becoming refugees in their own country n pple dey complain abt money

victor08:

You are a fool and a puu.ssy. Who told you that Nigerian army recieved 3 trillion when the NSA have come out to openly give account of how much that was received and what it was used for. The problem with Nigerians is that when people here allegations they even start shouting more than the person that initiated it even when the facts must have corrected. Radio without battery.

EkoIle1:
I really do not think his man is dumb even though he acts dumb and foolish, he's a schemer and a very smart crook, he's very mean spirited and dangerously vindictive.

bonechamberlain: this is the best analysis to come out from a Nigerian senator this month.. hope he would do the same analysis if APC is in power. Jonathan continues to marvel me, does he want to tell us that we don't have ordinary 1 bill dollars Hmmm we re finished in this country as our leaders are all lacking vision. they always act like pple from another planet. only a very violent revolution would save this country from the hands of aliens

GiggsTk: Nigeria!!! I hate when we name money then add dollars to it just to confuse people. 1billion dollar is just bout 164 billion naira and a whole nigeria wil be borrown dat chicken change dat I bet some individuals in dis country might av.

lordmayor4:

SMH for you.... wasted sperm....

victor08:

You are crazy illiterate...who taught you how to type and read on nairaland?

WombRaiders:

APC nitwits defending rubbish all over this thread.

The fact remains that the era of cheap oil has gone for good.

Borrowing to pay back with oil is daft since oil pricing will continue to increase and also that the pricing mechanism for repayment will be far less than what oil is currently trading now and in the future.

At the end of the day Nigeria will lose more.

If for example the terms of repayment suggest that Nigeria supplies 300,000 barrels per day to offset the $1 BILLION dollar facility, the cost of each barrel will not be trading at the current market price at anytime now and in future but will be set at a far lower benchmark. For example today oil trades at approximately $102. The loan will be repaid at a far lower price say $75 hence the country will lose $25 as at today's price and giving the high volatile nature of energy these days you can bet your supporter of APC butts that crude will eventually reach $120.

Nitwits defending stupidity

EasternLeopard:


Your hatred for Igbos will not allow you to think straight.

He is a SS person. Why don't you face him and leave Igbos out of the issue.

For ur info, Igbos have oil.