sweetgala:


I'm sorry to highlight that the 2nd Niger bridfge is not listed in the immediate expenditure

LordAdam:


A. It is not entirely an investment. Some like the prepaid meters and ultra-high storey building deals are investments that the Chinese will make profits from the sale of meters and spaces respectively. Others like the Abuja-Kano-Lagos expressway are credit lines that Nigeria would have to pay back in due course because China cannot just dash us $1b (cost of the project) like that, especially when there is no tolling.

B. The article said $6b. You did not read the article and you jumped to comment.

C. The point is not if half bread is better than none, it is that we are getting palm kernel when we need bread. Nigeria has a deficit of $11b (N2.2t) in our 2016 budget. The projects and the salaries there need cash. If China is not giving us cash loan and IMF is not giving us cash loan, then we are very screwed. Our only option is treasury bills/bonds, but Nigeria cannot raise any significant amount from issuing bills/bonds because we have lost our J.P Morgan and Stanley ratings and will soon lose MCPI rating.

Investments are not substitutes of cash loans. They are meant to be additions.

Dangote went to China and got $2b cash loan. Buhari went there and got $0 cash loan and $6b worth of verbal investments. The same China made investment commitments under GEJ to build three refineries to the tune of $23b. Where are the refineries today? And we know that GEJ was closer to China than Buhari.

We should realize that some of those investments will not materialize. One thing I am sure about is that had GEJ gone to China for cash loan, he would have gotten it. Buhari went to negotiate loan without his finance minister, this is the result.

Buhari and Nigeria is bleeped. Let him pray Oil rises to $60, if not Nigeria will fall into recession.

-Lord

TPAND:
Zombies won't believe this report. I am still shocked despite a critical analysis of the doom ahead some persons keep defending Buhari instead of seeing the message Forbes is trying to communicate.

slydog:


Dude, it's not a loan, that explains the absence of the finance minister and the presence of the investment minister. The money is coming in as Chinese investment in which they will recoup by way of tolls. The investments proposed are going into revenue generating infrastructure, which even the government doesn't pay, rather we all pay by joining the train services

modath:
This article is a mess!
It is a mumbo jumbo of contradictions & the scary sensationalist headline is an aberration!!





We are not skilled at management, a "need & access" basis works so much better than unfettered & unregulated access!

Make owo no wo igbo..





IMF is too "concerned" about Nigeria! Omnious!



Global investors? Rent seekers & portfolio investors are not the kinds we need...

The buy low, sell high speculators are the kinds IMF is planning to foist on us.

Investors in the real & tangible sector aren't so hot under the collar because they know they'll recoup their investments.

Infrastructures pay for themselves...Fares, fees ,tolls...



This is where we must follow government bumper to bumper...

No prodigal children kind of merrymaking.

LordAdam:


The presidency said nothing of tolling about the greenfield expressway--http://www.channelstv.com/2016/04/15/buharis-china-visit-yields-billions-in-investment-for-nigeria-presidency/. About the Lagos Metro line, I wonder if you were one of the negotiators to know that the government would not repay a dime, but the Chinese would collect money from Nigerians to use the train (for how long, until what amount is reached, which percentage goes to the government afterwards).

Don't insinuate when you are not part of the delegation. When more information comes out you reference it, until then keep your personal opinion about the nature of a deal signed thousands of miles away in a place you'll never be able to enter, to yourself.

Conclusively if you actually read my reply and not try to do fastest-finger, you'd see that I called it is not entirely an investment (meaning some part is investment, some is loan). If you can't understand English, desist from quoting me or trying to enlighten me. I too know!

-Lord

samuelUMOH:
Forbes is not God and mind you they are western powers in disguise ,the loan is not bad if the utiliazation is properly done .Mind you am not Buhari fan but on this he got it Right .

Nigerian Loan Deal With China Highlights Need To Diversify Sources Of Government Revenue


http://www.forbes.com/sites/riskmap/2016/04/15/nigerian-loan-deal-with-china-highlights-need-to-diversify-sources-of-government-revenue/#630adfc86237

How Buhari’s $2 Billion Chinese Loan Puts Nigeria At Risk–forbes Magazine


http://pointblanknews.com/pbn/exclusive/buharis-2-billion-chinese-loan-puts-nigeria-risk-forbes-magazine/

aresa:


Forbes Original Title.





The deceiving sourceless IpoD titles is



^^^^^From Ipod blog...

divinehand2003:
Forbes got it all mixed up.
-First of all it's not a loan, but it's an investment. Both parties are doing business together.

-Secondly, it's not $2 billion, but it's $6 billion investment package, and the various items and projects for which this cash would be spent on is properly highlighted.

So Nigerians, should we rather sit on the fence and do nothing waiting for manna to fall from above? No, half bread is better than not.


We must do something now.

theV0ice:


Really??

LordAdam:


The presidency said nothing of tolling about the greenfield expressway--http://www.channelstv.com/2016/04/15/buharis-china-visit-yields-billions-in-investment-for-nigeria-presidency/. About the Lagos Metro line, I wonder if you were one of the negotiators to know that the government would not repay a dime, but the Chinese would collect money from Nigerians to use the train (for how long, until what amount is reached, which percentage goes to the government afterwards).

Don't insinuate when you are not part of the delegation. When more information comes out you reference it, until then keep your personal opinion about the nature of a deal signed thousands of miles away in a place you'll never be able to enter, to yourself.

Conclusively if you actually read my reply and not try to do fastest-finger, you'd see that I called it is not entirely an investment (meaning some part is investment, some is loan). If you can't understand English, desist from quoting me or trying to enlighten me. I too know!

-Lord

The loan amount is larger than expected, putting Nigeria at risk of struggling to repay if the oil price falls further. Buhari is aware of the need to diversify sources of government income, and wants to broaden Nigeria’s tax base and expand its portfolio of export goods. These measures are likely to take years to generate significant additional government revenue, and infrastructure projects are themselves unlikely to generate sufficient income to finance loan repayments in the near term.

LordAdam:


The presidency said nothing of tolling about the greenfield expressway-

http://www.channelstv.com/2016/04/15/buharis-china-visit-yields-billions-in-investment-for-nigeria-presidency/. About the Lagos Metro line, I wonder if you were one of the negotiators to know that the government would not repay a dime, but the Chinese would collect money from Nigerians to use the train (for how long, until what amount is reached, which percentage goes to the government afterwards).

Don't insinuate when you are not part of the delegation. When more information comes out you reference it, until then keep your personal opinion about the nature of a deal signed thousands of miles away in a place you'll never be able to enter, to yourself.

Conclusively if you actually read my reply and not try to do fastest-finger, you'd see that I called it is not entirely an investment (meaning some part is investment, some is loan). If you can't understand English, desist from quoting me or trying to enlighten me. I too know!

-Lord

theV0ice:


Actually opposition propaganda is easier than govt. Its the same with PDP now. PDP is in opposition and doing a better job of the information war because the underdog will always enjoy the sympathy of most neutrals. APC enjoyed it then.

Its like a football match of equally matched opponents. The one that just conceded will be more aggressive about an equaliser.

Global investors? Rent seekers & portfolio investors are not the kinds we need...

The buy low, sell high speculators are the kinds IMF is planning to foist on us.

Investors in the real & tangible sector aren't so hot under the collar because they know they'll recoup their investments.

Infrastructures pay for themselves...Fares, fees ,tolls...

musicwriter:
@modath



You have a very good knowledge dirty jobs worldwide. These banks belong to a network of predatory companies that control the world's economy. As you noted what they usually do is invest in stocks and bonds, e.t.c. They'll never invest in the real sector

See the Capitalist Network That Control The World's economy www.africason.com/2015/05/the-capitalist-network-that-control.html

China is unlikely to demand the reforms and oversight that the World Bank or IMF typically impose as conditions for lending.

musicwriter:
@modath



You have a very good knowledge of what's going on between the west and Nigeria right now. I feel proud when I see Africans who understand the Africa Vs west game.

And, if you probe further you'll discover the so called foreign investors are nothing but a network of companies owned by the same IMF and world bank to prey upon third world countries. They run a network of companies installed all over the world to do their dirty jobs.

J.P Morgan, MSCI, Barclays, e.t.c are IMF and world bank subsidiaries doing their dirty jobs worldwide. These banks belong to a network of predatory companies that control the world's economy. As you noted what they usually do is invest in stocks and bonds, e.t.c. They'll never invest in the real economy in any third world country. This because so they can easily pull out their investment to threaten the target country. So, what they do is make coordinated withdrawal of assets at the same time in the target country to evoke panic and to escalate the situation, until the head of state of such country bow to pressure.

See the Capitalist Network That Control The World's economy www.africason.com/2015/05/the-capitalist-network-that-control.html

theV0ice:


Do you need special notification to know that the railways and power projects are not for charity?

Are you assuming that Nigerian citizens and coporate bodies who use them will do so free of charge?

Do you know the airport modifications of Stella Oduah were financed with loans from this same China? Did you have reservations about those too?

aresa:


You have zero idea per what's going to be tolled or not until it's built and the government comes out with policy statements on the projects and how to pay for them.. Stop assuming based on what's not set in stone at the moment..







China is not collecting tolls, they are funding the project and they get back loan payments based on whatever agreed upon payments and payment schedule, the state's Metro Rail governing authority is tasked with toll collection.

The Metro Rail system can pay off the loan in little or no time based on the number of potential passengers available in Lagos state. We are talking about hundreds of thousands of passengers or even millions daily. Multiply average ticket of N300 by at least 500,000 per day x per month. That's billions per day and several billions per month.

So please tell us how hard it's going to be to service or pay off this loan in little or no time?..

This project is set to be the largest money making infrastructure in Nigeria and after paying off the loan, all the billions per month goes into the pocket of the people of Lagos state which means a cash cow to fund other major projects within the state including extending the project to every corner of Lagos state..

And let's not even get into the other benefits from less cars on the road, reduction in noise, fumes and other forms of environmental pollution..




Your views like mine and others in this thread are all based on insinuations and personal opinions since we don't have detailed policies or analysis by the government so you have zero rights or any form of moral authority to question other people's views..

LordAdam:


A very simple question to you: Are you daft?

A lot of you guys have major issues with comprehension of the English language.

Let me dumb it down for you, my very first post was to clear the fallacy by someone who clearly did not read the publication.

Maybe you were blind to this statement in my first reply, "Investments are not substitutes of cash loans. They are meant to be additions."

We have a $11b deficit. $6b in investments though laudable is no substitute for the $11b loan we need. Get that into your thick skull.

Bunch of dumb f***kers here!

-Lord

theV0ice:


A simpler query for you, are you a slowpoke?

Were you dropped on your head at birth?

So he shouldn't have taken the offer of $6B investments?

We need investments to address our infrastructure deficit you certified dunce and partnerships of this nature are the way to go.

Apostle of idiocy, try and learn!!

LordAdam:


Bloody hell! For someone of your caliber to exhibit this copious amount of blind shenanigans is beyond me.

Alright, show me where I said he shouldn't have taken the offer of $6b in investments?

-Lord

theV0ice:


Lord gawd!! For someone of your level to delve into insults on someone without provocation is horrifying.

Show me what was wrong with what I said in my first post which you replied that warranted insults?