Editor1:
GEJ, go ahead and borrow any amount u want...

The S-south has given u the go-ahead. Afterall, wen its comes to repay the loans, its still the oil money from south dat is used....not the rotten onions from North!
Its our money...we spend it as we wish.

Meanwhile its GEJ till we find a better replacement!

SMH for you oh So you really support Corruption

********AS THEY PLUNDER THE ECONOMY MORE********

There was indeed a country.

Editor1:
GEJ, go ahead and borrow any amount u want...

The S-south has given u the go-ahead. Afterall, wen its comes to repay the loans, its still the oil money from south dat is used....not the rotten onions from North!
Its our money...we spend it as we wish.

Meanwhile its GEJ till we find a better replacement!

Psychiatric patient

Dia is God oo

mrs okonjo na wha for u oo..u shld be sack but oga GEJ can't but GOd will remove u

Editor1:
GEJ, go ahead and borrow any amount u want...

The S-south has given u the go-ahead. Afterall, wen its comes to repay the loans, its still the oil money from south dat is used....not the rotten onions from North!
Its our money...we spend it as we wish.

Meanwhile its GEJ till we find a better replacement!

y not brk outta d country den

Editor1:
GEJ, go ahead and borrow any amount u want...

The S-south has given u the go-ahead. Afterall, wen its comes to repay the loans, its still the oil money from south dat is used....not the rotten onions from North!
Its our money...we spend it as we wish.

Meanwhile its GEJ till we find a better replacement!

It is people like you that still make this country to be subjected to embarrassment among commonwealth of nations. Did you really think at all before you made this comment?. I cry bitterly and give up on this country

peteonline:
Only if this would create more jobs. I support her if this will boost the economy more to the first 20 in the world. She is an expatriate in this field.

We have been there before....we borrowed and borrowed...and then ended up with SAP.

Borrowing does not create jobs or grow your economy.....it only makes things worse.

What you people should be doing is putting pressure on your government to develop our power supply...so that we can have a strong industrial sector. And end corruption too.

This are good loans because they surely be paid back from investments the government will use to money for, knowing that interest rate is 3 - 4%... And due to low oil price that lead to the devaluation of our naira that has eaten into our external foreign reserves. This loan will be needed to keep investments and businesses going on so we can make profit from the business so as to strengthen our naira and boost our reserves...

My own is that let the best candidate win, and if u loose please be quick to accepet defeat that will help a lot to curb #PostElectionViolence.

God bless Nigeria!

What happened to all the money obasanjo left in our foreign reserve ?So TAN don spend all our reserve finish and some lunatics still dey shout continuity from their anus.The thunder wey go strike some people is doing press up.God pls save Nigeria

Editor1:
GEJ, go ahead and borrow any amount u want...

The S-south has given u the go-ahead. Afterall, wen its comes to repay the loans, its still the oil money from south dat is used....not the rotten onions from North!
Its our money...we spend it as we wish.

Meanwhile its GEJ till we find a better replacement!

please don't speak like this in public, it portrays you as someone who lacks reasoning.
Rather keep quiet and people think you are a fool,than speak to confirm their thinking. thanks

What happen to the $200m that they just borrow and now is $2b, God will help us sha

Kalo kalo government headed by an economic rascal and outsourced to an economic terrorist! Here's a foretaste of what would define a Jonathan second term. Let the enemies of Nigeria keep saying Sai Jonathan!

This woman is misleading GEJ. Hope she will not sell this country one day!

Obasanjor left over $40 billion there after he paid our loan. He had foresight and knew a time is coming when we might need it. Gej came and the treasury is empty. What he used it for we cant really say. This government is so corrupt and people keep defending them. Even those who haven't eating a quality meal in a long while. Poverty infested individual whose life hasn't changed since God knows when. Come here and sing all sort of praises. He wants another 4years. 10 years for Jonathan might just be another disaster for Nigeria. He has good intentions but the vultures around him won't allow anything work. No gut to fire them, so there we would remain, developing nation forever. Sad.

The same foreign debts that we nationally celebrated when it was liquidated under her watch during OBJ era. Let the draw-down continue while prosecution awaits You(Okonjo/GEJ). March4Buhari

They want to plunge the country into debt just incase Buhari wins.

Useless corrupt PDP government.

Editor1:
GEJ, go ahead and borrow any amount u want...

The S-south has given u the go-ahead. Afterall, wen its comes to repay the loans, its still the oil money from south dat is used....not the rotten onions from North!
Its our money...we spend it as we wish.

Meanwhile its GEJ till we find a better replacement!

See this joker. You have made my day in lafta!

Look....there isn;t enough oil money to pay back this loan.

In the next few years....we will need another loan, then another, then another. We already have debts.

Subsequently....we will have to spend a large amount of the budget on debt servicing (That''s the nice way of saying that we have to pay back our debt , or the IMF will come and deal with us).

You Nigerians....you really enjoy suffering and smiling. OK....you are entitled to vote PDP. But tell them that 1)they have messed up....and 2) they need to get our economy off oil. Even you in the South south will have to rely on fisheries, industries, and shipbuilding.

But....you are just like the HAUSAS. You all want to be like a rich man's wife....living fat on money without having to work.

Continue in your laziness....till you wake up and find that Madame Lagarde has moved into your house....and is telling you how you must spend your...sorry the IMF'S....money.

This deceptive government once denied that the economic of this country was dive nosing, Amaechi was the first to blow the whistle but some people said he was a rumour monger, then many more people but this woman coutered all claim, she said the economic robust and improving. Now they want to borrow.

surplus2015:
What happen to the $200m that they just borrow and now is $2b, God will help us sha

That's how it is with a oil dependent economy....you borrow and borrow when the oil prices drop....with the idea that you will pay them back when the prices come up. But if the price don;t come up....you get deeper and deeper into debt....and then the IMF and the World BANK come along and make you take a hefty dose of SAPPAQUINE.

Nigeria needs to get of oil...and become industrial. The sad thing is that Nigerians want to eat oil money. They do not want to work for their money.

GENTLETEE:
This woman is misleading GEJ. Hope she will not sell this country one day!

If Mr GEJ win this election that mean they will have to sell the this country cos this borrow borrow don 2much and who is going to pay

Editor1:
GEJ, go ahead and borrow any amount u want...

The S-south has given u the go-ahead. Afterall, wen its comes to repay the loans, its still the oil money from south dat is used....not the rotten onions from North!
Its our money...we spend it as we wish.

Meanwhile its GEJ till we find a better replacement!

as dumb and as clueless as his master. . .smh 4 you and yours.

It surprises me, when I come on Nairaland and read some comments.. Not sure some people did basic economics in sch... And When I also see people lay insults on Okonjo Iweala, it just shows we are not well informed or its just pure hatred. This woman didn't apply for this job, she was recommended for it.. This woman was the representative from the whole of africa to contest for the President of WORLD BANK. Am not sure any Nigerian has reached that level... She is a professional and an expatraite in this field... Is it her fault oil price dropped to almost half. Let us read more about our country's economy before coming here to insult people that have achieved way beyond us.

God bless Nigeria!!!

Nigeria budget now based on borrowed money after free for all looting. Vote wisely.

focus7:
This deceptive government once denied that the economic of this country was dive nosing, Amaechi was the first to blow the whistle but some people said he was a rumour monger, then many more people but this woman coutered all claim, she said the economic robust and improving. Now they want to borrow.

Are we not improving from $200m to $2b and there next borrowing will $20b if our so call Mr presido win this election again

Ghen gheeeeeeeen,final looting and recovery of money spent on elections wan start

Pavarottii:
It surprises me, when I come on Nairaland and read some comments.. Not sure some people did basic economics in sch... And When I also see people lay insults on Okonjo Iweala, it just shows we are not well informed or its just pure hatred. This woman didn't apply for this job, she was recommended for it.. This woman was the representative from the whole of africa to contest for the President of WORLD BANK. Am not sure any Nigerian has reached that level... She is a professional and an expatraite in this field... Is it her fault oil price dropped to almost half. Let us read more about our country's economy before coming here to insult people that have achieved way beyond us.

God bless Nigeria!!!

It is not Okonjo Iweala's fault that the oil prices dropped...but it is her and her govt's fault that they never got us off oil dependency.

(And she knows better...several years ago, she contributed to a paper on resurce dependency).

And it is the govt's fault that they did not do the lazy economist's preventive measure...save money for a rainy day.

But really....they should have been more aggressive on power supply. We should have been on the way to 20000MW...not the measly 3000-4000mw we comfort ourselves with.

What your beloved PDP should have done...would have been to spend more on education., power.....and even infrastructure. At least they are doing well in railways...but even that is not good enough.

Ultimately.....your PDP has to get us off oil. And sadly after six years....we are still dependent on oil. Meanwhile...recently..someone developed a solar powered plane. Oil will soon become redundant....and your PDP is not even getting ready for that future.

Editor1:
GEJ, go ahead and borrow any amount u want...

The S-south has given u the go-ahead. Afterall, wen its comes to repay the loans, its still the oil money from south dat is used....not the rotten onions from North!
Its our money...we spend it as we wish.

Meanwhile its GEJ till we find a better replacement!

See how your parents waste strength and sperm born you...... You better refund all the funds that they have spent on you cause it is bad investment.......

Has anyone seen Fashola's aloku scrap metal trains from Toronto in Lagos

[size=15pt]Lagos: How We Spent N160bn World Bank Loan on Light Rail Project[/size]

The Lagos State Government yesterday justified the N160 billion it borrowed from the World Bank, noting that the fund was channelled to finance its light rail (blue line) project.

However, the state government expressed disappointment at the progress of the project, which it said, was not executed as smoothly as possible, but was optimistic of its completion.

The state Governor, Mr. Babatunde Fashola, said this shortly after inspecting the light rail terminus at the Orile-Iganmu part of the state alongside some members of the state executive council.

Speaking with journalists, Fashola said the project would have been completed in another 12 months despite that the project execution was not as smooth and speedy as he wanted it.

The governor raised questions on the intention of the federal government for publishing the state debt profile in the recent time, wondering what could have informed the decision to make it public.

He said: “I think it was the Debt Management Office of the federal government that published the report that we have a debt of about N160billion. I do not know the intent of the publication.

“But if it was to inform the public, I think we have always kept the public informed anytime we borrow money. If there are other intentions behind that, only those who make the publication would know what the intentions are.

“But you see, when people talk about debt of a state like Lagos, they forget that after Nigeria, South Africa, Egypt and one other country, we have the fifth largest economy in Africa.

“When you are talking of about a billion naira debt to a population of over 21 million people; because if you are measuring the debt, you also have to measure the responsibility. Those are the things people keep in isolation.”

He, therefore, explained that the state government already “has in place, strategies to repay the loan. The federal government was in the know of the state’s decision to take the bond and it approved it.”

[size=15pt]He added that the truth “is that what they do not also say is that no state in Nigeria can borrow money outside, from any multilateral agencies without the approval of the federal government.[/size]

“What they did not say is that they approved it. No state can raise money by bond the way we have done without the federal government’s approval. [size=18pt]Both SEC and NSE are all federal regulatory agencies through which we must pass. If they said okay, it means there must be something good about the debt.
[/size]

“Our rating as a state is the same as that of the Federal Republic of Nigeria, BB minus-stable with a positive outlook. We are the only state in Nigeria that has that rating. The first bond that was taken during my first tenure has been paid; the first tranche has been paid.

“I think the second tranche will be settled around 2016 or 2017. We are already making provisions. The provisions that will be there will be in excess of what is needed,” the governor said

Fashola expressed satisfaction on the progress of the light rail project, though decried the petty delay that was encountered as a result funding, saying the project would have should have been completed in another 12 months.

http://www.thisdaylive.com/articles/lagos-how-we-spent-n160bn-world-bank-loan-on-light-rail-project/188736/

www.nairaland.com/attachments/2135824_image_jpeg9f360c5ab7736510df54c882e9dbf188

eaglechild:
We can't complete Lagos light rail project

We obviously can't complete Lekki international phantom airport.

And you will be the biggest fool to think that we can complete Eko Atlantic.

Use your head people where do you think we are getting all the money we are using to sponsor Buhari


www.nairaland.com/attachments/2079192_fasholaa_jpegfc425dbc9482db4d2098e4dd5e8bee75