Firefire:



I always respect you no matter the party you support. Me jobless ? I laugh in Chinese

Btw: That is my alma mater: Zumuratu Islamiya Primary School, Alaba Oro

LRNZH:


You are focusing on external debts to make Lagos State look bad. I am.telling you that external debts don't tell the complete story at all.
1. External debts of Nigeria is just ~14% of our national debt. Use Lagos states total debt as a percentage of national debts and you will get ~3% which is nothing compared to your touted 18%.
2. Lagos debt portfolio is more loaded with external than domestic debts because states don't sell bonds etc etc.
But Lagos debt profile is healthy and work is on ground to justify it.

aresa:

Firefire:





All my submissions are based on readily available data that are verifiable. I could choose the best viewing angle at my discretion.

Firefire:



I beg no corrupt this thread with your photos

Firefire:



I beg no corrupt this thread with your photos

LRNZH:


I totally disgree with you. Your dishonesty is coming to play here and I will reserve the right to respond to you in the future if I sense insincerity.
How can you take 14% of an issue (external out of total national debt) and use that to judge the health of Lagos vs FG debts?

Desist from that please.

Firefire:


The external debt is typically owed to foreign creditors such as multilateral agencies (for example, the Africa Development Bank, the World Bank, or the Islamic Development Bank), to bilateral sources (such as the China Exim Bank, the French Development Bank or the Japanese Aid Agency), or to private creditors such as investors in our Eurobonds.

The domestic debt, however, is contracted within Nigerian borders, usually through bond issues which are then purchased by Nigerian banks, local pension funds, and other domestic and foreign investors.

I presume the external debt should be of more concern to you my friend?

No way. If the Gov'ts (state or FG) default on their debts be it domestic or external, the consequences to the economy are dire so it does not matter. 14% cannot be of more concern than 86% unless you want to play PDP's contorted game of numbers where small is > big when they want to rig (eg NGF elections, impeachments etc)

LRNZH:


No way. If the Gov't (state or FG) default on their debts be it domesti or external, the consequences to the economy are dire so it does not matter. 14% cannot be of more concern than 76% unless you want to play PDP's contorted game of numbers where small is > big i they want to rig (eg NGF elections, impeachments etc)

Firefire:



Issokay.

But the situation on ground and the massive Infrastructural development in Nigeria could support/justify the FG debt.

Investment in:

Rail
Airport
Road
Power
Security
etc

CaptainAmerica1:
Notice how a certain person cunningly avoided the $10 billion and $20Billion missing NNPC money.

I see you

LRNZH:


If not for this interaction, I didn't know FireFire has some stuff in his head because he has to resort to telling half truths and lies to support GEJ.

The problem with being a GEJite is you must dumb down your brain to be able to support non-performance. Barcanista is an example of someone going through that phase now.

FireFire there is still room to clean up your act and start looking at things from the realistic lens of a progressive. Your analytical ability will shine through and be of use because you won't have to be perpetually distorting facts to make your man look good.

ozoigbondu:
We will survive never under estimate the die hard spirit of nigerians if we survived Abacha tryannical rule coupled with sanctions imposed on us then we can survive.We also survived the era of scarcity of essential commodity.

GEJ has already started diversifying the economy the agricultural and entertaing sector are booming.It is also necessary to cut down on luxurios spending by the government.Money can be saved by cutting down the jumbo pay of the legislators and selling some of the presidential jets.Aides should also be trimmed down

The governors should stop depending on federal allocations and oil money and concentarte more on generating their own funds

Meanwhile GEJ till 2019

DaBullIT:
So, you are saying Barcanista has been PDP Zombified [/b ] and he's going through dumbdown [b]TRANSFORMATION?

Na you talk am I no dey o!!!!!

LRNZH:


Even Barcanista has stopped having fun on NL because he can't post intelligent analysis anymore. The FFK problem is a bad one. You stop reasoning right and start defending blatant lies, spreading misinformation. I don't know how their conscience functions through it all.

LRNZH:


This govt is built on a foundation of lies and misinformation. Nigeria is doing badly as we speak. How much is Naira exchange rate? Why did Naira not freefall in 2008 when the global economic crash happened like it is doing today? Because OBJ and Soludo had a sound basis on which the economy was run.

The lootocracy of GEJ anf NOI was exposed immediately the oil price tanked. There was no money to defend the Naira nor any diversification of the economy with all the money borrowed. Don't let Omokri deceive us please.


Anyone who is deceived, is only deceiving themselves. The kleptocracy is clear as day.

cc: Lalasticlala, Ishilove, Maclatunji, Obinoscopy, OAM4J

LRNZH:


[b]Stop cursing us with your GEJ slogan. I don't think you comprehend the reality of this situation.

Have you wondered why Angola, Algeria and other Africa oil producers are not on this list? Not even Libya with its war torn issues.

On a normal day Nigeria should be like Norway and Gulf states that have managed their earnings well during the high oil price, saved a lot of money and diversified their economy.

Because we squandered our earnings and did not invest enough in any meaningful economic diversification, we end up on a list like this.

Look at the other countries on this list.
Russia is under heavy sanctions and is waging a war in Ukraine.
Iran is under heavy sanctions and is propping up the Gov't of Bashar Assad in Syria.
Iraq is trying to recover from a major civil war then ISIS broke out and started another round of turmoil.
Venezuela is a heavily subsidized state and under western sanctions as well.

Nigeria is not under sanctions nor are we running any major socialist or subsidy program. Corruption and ineptitude especially by GEJ's govt got us here.
Our national loan burden is about $70Billion today with nothing to show for it.[/b]

ozoigbondu:
We will survive never under estimate the die hard spirit of nigerians if we survived Abacha tryannical rule coupled with sanctions imposed on us then we can survive.We also survived the era of scarcity of essential commodity.

GEJ has already started diversifying the economy the agricultural and entertaing sector are booming.It is also necessary to cut down on luxurios spending by the government.Money can be saved by cutting down the jumbo pay of the legislators and selling some of the presidential jets.Aides should also be trimmed down

The governors should stop depending on federal allocations and oil money and concentarte more on generating their own funds

Meanwhile GEJ till 2019

ozoigbondu:

GEJ has already started diversifying the economy the agricultural and entertaing sector are booming.It is also necessary to cut down on luxurios spending by the government.Money can be saved by cutting down the jumbo pay of the legislators and selling some of the presidential jets.Aides should also be trimmed down

LRNZH:


[b]Stop cursing us with your GEJ slogan. I don't think you comprehend the reality of this situation.

Have you wondered why Angola, Algeria and other Africa oil producers are not on this list? Not even Libya with its war torn issues.

On a normal day Nigeria should be like Norway and Gulf states that have managed their earnings well during the high oil price, saved a lot of money and diversified their economy.

Because we squandered our earnings and did not invest enough in any meaningful economic diversification, we end up on a list like this.

Look at the other countries on this list.
Russia is under heavy sanctions and is waging a war in Ukraine.
Iran is under heavy sanctions and is propping up the Gov't of Bashar Assad in Syria.
Iraq is trying to recover from a major civil war then ISIS broke out and started another round of turmoil.
Venezuela is a heavily subsidized state and under western sanctions as well.

Nigeria is not under sanctions nor are we running any major socialist or subsidy program. Corruption and ineptitude especially by GEJ's govt got us here.
Our national loan burden is about $70Billion today with nothing to show for it.[/b]