LordAdam:


Everything.

It appeared you just saw my username, didn't read my message and instead decided to take a jab at me.

Although, I have my reservations on the loan and have been very vocal against taking loans in the past, that was because APC did same in the past. However, now I am pursuing a more engaging policy of criticizing PMB and his government, something I have made mention of not too long ago.

That's good to know. Pls keep it up.

If the man says he needs a loan, then let him have it, and let's see what he uses it for. My only question is that the man is having a cold fight with the IMF and so there'd be no loans from that end. China is the only nation that can comfortably save our asses by giving us a sizable loan to efface a considerable part of the $11b. Yet he went there without his Finance minister, didn't get a cash loan to offset our $11b deficit and you want me to clap for him.

With Nigeria's present clout as the dominant economy in West Africa, 24th largest economy in the world (previously 21 as at last year), and the relationship PDP-led governments have fostered with China, $6b in investments is a normal development. Even if a chimp goes to China in the capacity of the President of Nigeria, he would be able to secure the same amount in investments.

Nigeria urgently need the loan to balance the deficit so there'd be no stalling when the budget is passed. Pardon me if I'm the only person in the country who senses the urgency and will not be wavered by propaganda.

-Lord

This years budget is having a deficit of N2.2T which translates to &11B but not all are going to be from external creditors. Internal instruments would be sold to also raise cash. The govt has said this repeatedly and I'm shocked that you of all people are ignorant of this. Even if IMF was going to give us a loan, they weren't planning on more than $3.5B.

Why buhari will want to avoid cash is simple and should be clear to you my friend. Nigerians will chop the money if you allow them. But with a foreign partner playing a major role beyond financing in the projects, you can have some level of confidence in deliverability.

Ask yourself why NLNG works but NAFCON is dead and NNPC is just a devourer and cankerworm in the nation's finances? The simple answer is that partners run the NLNG while Nigerians were solely in charge of the others.

We don't need to get all the money to run the budget today or does FIRS need to get all their projected revenue in the bank before the budget is passed? Buhari wants to use the deficit for only capital projects and as we proceed, more avenues will open up.

He might be wrong eventually but how will we know if he doesn't try?

LordAdam:
You just had to type a long-winded reply to reiterate what I've said before. Don't try to come for my jugular, I've drowned yours in a sewage pipe.

About the first bolded statement, I'd ask you a simple question: What percentage of FG roads are tolled? The vast majority of FG roads are free to use, so the default position to take when an FG road project is announced is that it will be free, UNLESS OTHERWISE STATED. Initial reports made no mention of tolling as I explained to slydog, so until they do, it is fair to say that it would be free to use.

I did not reiterate any of you pointless and absurd views. The fact that majority or no majority FG roads are tolled or not doesn't mean any in the China funded projects are going to be tolled or not tolled hence allowing the government to articulate on the subject.

Unless otherwise stated or not stated is still not any reason to assume anything.

It is not fair to assume anything, assumptions kills..

About the second bolded statement, why the blazing f***k did you have to quote me when you were simply going to make roughly the same point I was making. You used the words "loan payments," meaning the government would pay them back. Which is exactly what I have been saying from the start.

The government paying back and and China collecting tolls from Nigerians are 2 different things.. We collect and pay them out of what we collect.

We did not make the same point, you said China will collect money from Nigerians and I corrected, because the only thing China is due for is scheduled loan payments and not our tolled money. The state metro agency is responsible for toll collection and out of that

I don't you to lecture me on how they will be paid or the legitimate agency that would levy Nigerians. The simple fact that even an artisan would understand is that China built a rail for us on loan and they would take our fares as payment+interest for the loan. You and I do not know how much interest is on that loan or if the Chinese are partners who would continue making profits from that venture until Jesus comes.

The government paying back and and China collecting tolls from Nigerians are 2 different things.. We collect and pay them out of what we collect.

Don't lecture me about policing other peoples opinion. You don't type sh*t because you have access to an internet-enabled device (phone, tablet, or PC) and then call up the blanket "I have a right". What he said was illogical straight up. If you don't have the guts to call it out, I do. You don't need pinpoint detail and analysis to make a valid, logical point like I have with this reply and hundreds more on NL.

I make a clear distinction most times when what I'm saying is a personal (subjective) opinion and when it is an objective logical point. Don't mix the two. Well you already have. So I should be saying, get your head off your ass and smell the coffee.

Very laughable especially coming from your assumptions and opinion riddled posts..

You really are a waste of time..

theV0ice:


That's good to know. Pls keep it up.




This years budget is having a deficit of N2.2T which translates to &11B but not all are going to be from external creditors. Internal instruments would be sold to also raise cash. The govt has said this repeatedly and I'm shocked that you of all people are ignorant of this. Even if IMF was going to give us a loan, they weren't planning on more than $3.5B.

Why buhari will want to avoid cash is simple and should be clear to you my friend. Nigerians will chop the money if you allow them. But with a foreign partner playing a major role beyond financing in the projects, you can have some level of confidence in deliverability.

Ask yourself why NLNG works but NAFCON is dead and NNPC is just a devourer and cankerworm in the nation's finances? The simple answer is that partners run the NLNG while Nigerians were solely in charge of the others.

We don't need to get all the money to run the budget today or does FIRS need to get all their projected revenue in the bank before the budget is passed? Buhari wants to use the deficit for only capital projects and as we proceed, more avenues will open up.

He might be wrong eventually but how will we know if he doesn't try?

Oga did you not see where I said he would take loan that is a "considerable" part of the deficit. The fact is Nigeria is in a funny situation because our credit ratings have nosedived. Therefore, bills and bonds will not be as effective as they were in the past. It doesn't mean they would fail though. However, we both agree that we need loan to help balance the deficit. I never said he would need to take a $11b loan.

As at today, there is no big lender willing to give us loan, yet the budget will soon be signed. IMF, China, the Middle East have just bullshitted us. China was our last and actually most potent hope.

Please, understand that investments are not substitutes for loans. As I said they are laudable, but these $6b investments (as far as I know) are not part of the projects in the budget. Unless they are, I see no point in your argument. We need all the capital we can lay our hands on to finance the infrastructural projects. If Buhari gets the loan, adds the money realized from the financial instruments, then uses them to fully finance his budget and the accompanying capital projects; is it a bad thing? If he adds the investment commitments from US and China to his efforts, would that not be good for us?

Virtually ever country gets FDI and then if they have budget deficit, they also take loans and/or use financial instruments to offset the deficit. One does not replace the other. Even India with more than $35b in FDI in Q1 2015 had a deficit of 3.9% (far lower than our current deficit of above 35%). Guess what, they still took loan. I'm not comparing India to Nigeria, I'm giving you an insight.

Both FDI and the Budget keeps the economy going, FDI is from people and corporations overseas, the Budget is by the government. They work in tandem. No one replaces the other.

You can't say because you have high FDI, you should stop or heavily reduce government spending, especially in a country like Nigeria.

-Lord

aresa:



I did not reiterate any of you pointless and absurd views. The fact that majority or no majority FG roads are tolled or not doesn't mean any in the China funded projects are going to be tolled or not tolled hence allowing the government to articulate on the subject.

Unless otherwise stated or not stated is still not any reason to assume anything.

It is not fair to assume anything, assumptions kills..




The government paying back and and China collecting tolls from Nigerians are 2 different things.. We collect and pay them out of what we collect.

We did not make the same point, you said China will collect money from Nigerians and I corrected, because the only thing China is due for is scheduled loan payments and not our tolled money. The state metro agency is responsible for toll collection and out of that




The government paying back and and China collecting tolls from Nigerians are 2 different things.. We collect and pay them out of what we collect.




Very laughable especially coming from your assumptions and opinion riddled posts..

You really are a waste of time..

Unintelligence at its peak.

You need to be thoroughly educated.

Definitely not worth replying you.

-Lord

Aresa and LordAdam:

You guys need to wait for further facts and figures to be able to put things in proper perspective.

LordAdam:


Oga did you not see where I said he would take loan that is a "considerable" part of the deficit. The fact is Nigeria is in a funny situation because our credit ratings have nosedived. Therefore, bills and bonds will not be as effective as they were in the past. It doesn't mean they would fail though. However, we both agree that we need loan to help balance the deficit. I never said he would need to take a $11b loan.

As at today, there is no big lender willing to give us loan, yet the budget will soon be signed. IMF, China, the Middle East have just bullshitted us. China was our last and actually most potent hope.

Please, understand that investments are not substitutes for loans. As I said they are laudable, but these $6b investments (as far as I know) are not part of the projects in the budget. Unless they are, I see no point in your argument. We need all the capital we can lay our hands on to finance the infrastructural projects. If Buhari gets the loan, adds the money realized from the financial instruments, then uses them to fully finance his budget and the accompanying capital projects; is it a bad thing? If he adds the investment commitments from US and China to his efforts, would that not be good for us?

Virtually ever country gets FDI and then if they have budget deficit, they also take loans and/or use financial instruments to offset the deficit. One does not replace the other. Even India with more than $35b in FDI in Q1 2015 had a deficit of 3.9% (far lower than our current deficit of above 35%). Guess what, they still took loan. I'm not comparing India to Nigeria, I'm giving you an insight.

Both FDI and the Budget keeps the economy going, FDI is from people and corporations overseas, the Budget is by the government. They work in tandem. No one replaces the other.

You can't say because you have high FDI, you should stop or heavily reduce government spending, especially in a country like Nigeria.

-Lord

Lagos Ibadan express way is part of what would be financed by the budget. The power project in shiroro is part of the budget that would also be financed by these monies from China.

You're too quick to put down your country and I wonder if there is one morbid enjoyment you derive from it. IMF didn't bullshit us. They would sign it tomorrow if we agree to their terms. China didn't bullshit us. We went there to request participation in our infrastructure drive and we got them.

https://www.naij.com/433579-nigeria-borrows-money-to-pay-govt-salaries.html

See Ngozi up there explaining that we were already borrowing to pay salaries even with oil @$65/barrel. The economy has been on a downward spiral since 2014 and these problems are to be expected. We don't even refine our own crude for crying out loud.

We have problems no doubt and to be honest, financing the deficit won't be easy but buhari and his team will try to find a way and I don't think praying for them to fail or condemning every move as a lot of so-called opposition are doing is the way.

Maybe you can forward your proposals to the finance ministry..... Who knows?

[s]

LordAdam:


Unintelligence at its peak.

You need to be thoroughly educated.

Definitely not worth replying you.

-Lord

[/s]



Was serious serious about you being a waste of time.

Your views are overly too simplistic, shallow and half baked.

theV0ice:


That's good to know. Pls keep it up.

This years budget is having a deficit of N2.2T which translates to &11B but not all are going to be from external creditors. Internal instruments would be sold to also raise cash. The govt has said this repeatedly and I'm shocked that you of all people are ignorant of this. Even if IMF was going to give us a loan, they weren't planning on more than $3.5B.

Why buhari will want to avoid cash is simple and should be clear to you my friend. Nigerians will chop the money if you allow them. But with a foreign partner playing a major role beyond financing in the projects, you can have some level of confidence in deliverability.

Ask yourself why NLNG works but NAFCON is dead and NNPC is just a devourer and cankerworm in the nation's finances? The simple answer is that partners run the NLNG while Nigerians were solely in charge of the others.

We don't need to get all the money to run the budget today or does FIRS need to get all their projected revenue in the bank before the budget is passed? Buhari wants to use the deficit for only capital projects and as we proceed, more avenues will open up.

He might be wrong eventually but how will we know if he doesn't try?

Lessons learnt.

theV0ice:


Lagos Ibadan express way is part of what would be financed by the budget. The power project in shiroro is part of the budget that would also be financed by these monies from China.

You're too quick to put down your country and I wonder if there is one morbid enjoyment you derive from it. IMF didn't bullshit us. They would sign it tomorrow if we agree to their terms. China didn't bullshit us. We went there to request participation in our infrastructure drive and we got them.

https://www.naij.com/433579-nigeria-borrows-money-to-pay-govt-salaries.html

See Ngozi up there explaining that we were already borrowing to pay salaries even with oil @$65/barrel. The economy has been on a downward spiral since 2014 and these problems are to be expected. We don't even refine our own crude for crying out loud.

We have problems no doubt and to be honest, financing the deficit won't be easy but buhari and his team will try to find a way and I don't think praying for them to fail or condemning every move as a lot of so-called opposition are doing is the way.

Maybe you can forward your proposals to the finance ministry..... Who knows?

Not forgetting
http://www.vanguardngr.com/2015/05/okonjo-iweala-others-have-high-bp-over-economy/

http://www.bellanaija.com/2015/05/ngozi-okonjo-iweala-reportedly-says-managing-nigerias-economy-gives-her-high-blood-pressure/



"70 per cent of my staff have high blood pressure. This goes to show the amount of stress we go through. All three of us here (referring to herself, Minister of State, Bashir Yuguda; and Permanent Secretary of the ministry, Anastasia Daniel-Nwaobia ) have high blood pressure.

Minister of State has High BP and you are on medication. Perm Sec has and I have. The amount of stress in the ministry is unbelievable. Many times we are in the office until 1 am, looking for ways, we want to push out money to make payment. Many people don’t know this.

We now have a clinic so that people can go and check quickly up when they start having headache before someone collapses."