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Senate Rejects Buhari’s Request To Borrow $30bn - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Senate Rejects Buhari’s Request To Borrow $30bn (29876 Views)

Ezekwesili Reacts To Buhari's Request To World Bank To Focus On Northern Nigeria / FFK Reacts To Buhari's Request To World Bank To Focus On Northern Nigeria / Presidency Reacts To Senate’s Rejection Of Buhari’s Plan To Borrow $30bn (2) (3) (4)

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Re: Senate Rejects Buhari’s Request To Borrow $30bn by Jesusloveyou: 11:49am On Nov 01, 2016
Largas:


How can you borrow a heavy Loan for infrastructural development, how will that revamp our dead economy or alleviate suffering in the Land?

Buhari should focus on diversification of the economy and exodusing us out of this misery instead of taking Loans to construct railtracks from Daura to LA.
I am not surprised you speak from both side of your mouth,
that is hypocrisy in the highest order,
You IPods complains of lack of infrastructural development, and also complain of not revamping the dead economy, don't you know this is the simplest way to fulfill your complains, iPods sef? With their dead brain, they are even celebrating their failure,
We should all enjoy it together, don't wail again

13 Likes 2 Shares

Re: Senate Rejects Buhari’s Request To Borrow $30bn by DONSMITH123(m): 11:50am On Nov 01, 2016
seunmsg:


You cannot diversify the economy under 17 months in a period of very low oil earnings. Diversification can only happen over a long period of time and provision of key infrastructures is key to diversification.


then they should stop using it to defraud us. Boys are no longer smiling.
Re: Senate Rejects Buhari’s Request To Borrow $30bn by Blue3k(m): 11:54am On Nov 01, 2016

17 Likes 2 Shares

Re: Senate Rejects Buhari’s Request To Borrow $30bn by OnucheAdams: 11:55am On Nov 01, 2016
seunmsg:


You cannot diversify the economy under 17 months in a period of very low oil earnings. Diversification can only happen over a long period of time and provision of key infrastructures is key to diversification.

I disagree; you can actually diversify the economy by concessioning out Government owned assets such as oil filed and roads. In the case of the oil and gas industry no deal of significance has taken place in the upstream space simply because Buhari has made the sector unattractive to investors, by refusing to heed to Kachickwu's call to transmute the existing Joint Ventures with the IOC's into Incorporated Joint Ventures replica of NNLG. A recession affords entrepreneurs and policy makers the opportunity to innovate new solutions to society's problems; returning back to the IMF/World Bank for solutions IMHO amounts to hollow thinking in my opinion....

29 Likes 2 Shares

Re: Senate Rejects Buhari’s Request To Borrow $30bn by DONSMITH123(m): 11:58am On Nov 01, 2016
Blue3k:
Why let a guy with no economic plan borrow money?

http://www.vanguardngr.com/2016/10/world-bank-imf-put-pressure-buhari-come-economic-blueprint/

allow them to keep deceiving themselves.

7 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Mynd44: 11:59am On Nov 01, 2016
Re: Senate Rejects Buhari’s Request To Borrow $30bn by PentiumProf: 11:59am On Nov 01, 2016
For once the zoogerian senate did the right thing
Yeeeeeeeah

19 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by OsusuMustFlow(f): 12:01pm On Nov 01, 2016
lalasticlala
Re: Senate Rejects Buhari’s Request To Borrow $30bn by OsusuMustFlow(f): 12:01pm On Nov 01, 2016
PentiumProf:
For once the zoogerian senate did the right thing
Yeeeeeeeah

gbam

11 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by shaddoww: 12:01pm On Nov 01, 2016
Largas:


How can you borrow a heavy Loan for infrastructural development, how will that revamp our dead economy or alleviate suffering in the Land?

Buhari should focus on diversification of the economy and exodusing us out of this misery instead of taking Loans to construct railtracks from Daura to LA.

Diversify into what exactly n which sector doesn't require investment in infrastructure before growth can be recorded?

4 Likes 1 Share

Re: Senate Rejects Buhari’s Request To Borrow $30bn by seunmsg(m): 12:28pm On Nov 01, 2016
OnucheAdams:


I disagree; you can actually diversify the economy by concessioning out Government owned assets such as oil filed and roads.
In the case of the oil and gas industry no deal of significance has taken place in the upstream space simply because Buhari has made the sector unattractive to investors, by refusing to heed to Kachickwu's call to transmute the existing Joint Ventures with the IOC's into Incorporated Joint Ventures replica of NNLG. A recession affords entrepreneurs and policy makers the opportunity to innovate new solutions to society's problems; returning back to the IMF/World Bank for solutions IMHO amounts to hollow thinking in my opinion....

Maybe you have a different definition of diversification but according to my own understanding, it entails moving away from solely relying on a particular sector (oil) for generating revenue, majorly forex for the country. Concessioning oil fields that are operated by private oil firms will not lead to diversification. Again, government cannot concession all the federal roads in the country. You and I will never accept a situation where we have to pay toll fee for every federal road that we drive on. Lagos state's experience from concessioning the Lekki/Ajah road is public knowledge.

Diversification involves opening up other sectors of the economy and making them very productive revenue earners. Sectors such as agriculture, manufacturing and mining are areas that we can look towards. Without good power supply, a working rail transport system and great road network, can we achieve anything in these sectors? That is why the projects that were proposed in the loan document are key to diversification. Without these critical infrastructure in place, diversification can never happen.

12 Likes 3 Shares

Re: Senate Rejects Buhari’s Request To Borrow $30bn by mashin(m): 12:29pm On Nov 01, 2016
We shall all experience the pains of the rejection, as lack of funds to execute the budget continues, so long the senate has no money to siphon courtesy of Buhari's anti corruption stance, the senate will continue to frustrate the executive at the detriment of the poor who are now hailing the senate, more sufferings on the way.

4 Likes 1 Share

Re: Senate Rejects Buhari’s Request To Borrow $30bn by SAHACO(m): 12:29pm On Nov 01, 2016
5% at work

3 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by 989900D: 12:30pm On Nov 01, 2016
Largas:


[s]How can you borrow a heavy Loan for infrastructural development, how will that revamp our dead economy or alleviate suffering in the Land?

Buhari should focus on diversification of the economy and exodusing us out of this misery instead of taking Loans to construct railtracks from Daura to LA[/s].

3 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by 989900D: 12:35pm On Nov 01, 2016
1. They want to be settled -- believe it or not. #fact sad

2. Without the loan, or near $100 oil -- the people are in for a 'massive-massive' long period of pain; not until say maybe late or mid 2018, or late 2019.

Hold on tight to something solid y'all, it's gon' be a long rough ride.

5 Likes 2 Shares

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Nobody: 12:35pm On Nov 01, 2016
grin grin grin grin

EFCC & SSS go soon start evangelism.

grin grin grin grin

8 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by deebrain(m): 12:36pm On Nov 01, 2016
SweetLove0:
dubious law breakers.

They may be even crazy.
But they just saved this country.

11 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by johnaruson(m): 12:39pm On Nov 01, 2016
love that

5 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by 4nobody4every1: 12:39pm On Nov 01, 2016
Keneking:
But where is lalasticlala sef...

- Sell NLNG and others, you no sell.
- Use recovered loot, you no use.

Abeg, Buhari resign make Aisha take over, she would do better than this grin

Useless government.. grin

The next steps is to use EFCC to scatter the national assembly grin
Hian, you again, where is my whip grin grin

2 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by lekzman: 12:41pm On Nov 01, 2016
Borrow money to do what? Theif.

7 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by APCmyheart(m): 12:42pm On Nov 01, 2016
seunmsg:
They did not even debate it before throwing it out. Not a good development. Throwing the entire proposal away is not the best. We need some of the projects that were proposed in the loan proposal. They should have debated the proposal and approve some even if they won't approve all.


You expect them to approve it when the president did not include them or send Ghana must go as it used to be in the past.

2 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by kcnwaigbo: 12:43pm On Nov 01, 2016
unclezuma:
grin grin grin grin





EFCC & SSS go soon start evangelism.

grin grin grin grin
The Senate will simply amend the EFCC and SSS act and place them under the control of the NASS

16 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Ratello: 12:43pm On Nov 01, 2016
Clerverly:
No problem
Is this from your heart?

1 Like

Re: Senate Rejects Buhari’s Request To Borrow $30bn by seunmsg(m): 12:43pm On Nov 01, 2016
989900D:
1. They want to be settled -- believe it or not. #fact sad

2. Without the loan, or near $100 oil -- the people are in for a 'massive-massive' long period of pain; not until say maybe late or mid 2018, or late 2019.

Hold on tight to something solid y'all, it's gon' be a long rough ride.


Today's rejection is just a temporary setback. The president and the senate leadership will meet and reach a consensus on the matter. The proposed infrastructures are key to the diversification of the economy and hence, the loan is inevitable.

3 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by PedroJP(m): 12:43pm On Nov 01, 2016
unclezuma:
grin grin grin grin





EFCC & SSS go soon start evangelism.

grin grin grin grin





with their door to door goodnews.

2 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by soloroyality(m): 12:44pm On Nov 01, 2016
SweetLove0:
dubious law breakers.


see this baby oh! calling them dubious with no reason and if hear ur mouth again ehh.

3 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Nobody: 12:44pm On Nov 01, 2016
kcnwaigbo:

The Senate will simply amend the EFCC and SSS act and place them under the control of the NASS

After buying new doors... grin grin grin grin

1 Like

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Inspectahdeck(m): 12:45pm On Nov 01, 2016
Wow see reasoning

Please remember we will all suffer the consequences.

clefstone:
Anything to frustrate buhari is allowed until he suffers the pain GEJ suffered when he was an opposition

2 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Rapuru14: 12:46pm On Nov 01, 2016
Jesusloveyou:
I am not surprised you speak from both side of your mouth,
that is hypocrisy in the highest order,
You IPods complains of lack of infrastructural development, and also complain of not revamping the dead economy, don't you know this is the simplest way to fulfill your complains, iPods sef? With their dead brain, they are even celebrating their failure,
We should all enjoy it together, don't wail again
Your comment lines flagrantly contradicts your moniker.
Why?

6 Likes

Re: Senate Rejects Buhari’s Request To Borrow $30bn by ephi123(f): 12:47pm On Nov 01, 2016
Brilliant. Very good.

1 Like

Re: Senate Rejects Buhari’s Request To Borrow $30bn by Autino(m): 12:47pm On Nov 01, 2016
NA die we dey so
Re: Senate Rejects Buhari’s Request To Borrow $30bn by maslong(m): 12:47pm On Nov 01, 2016
SweetLove0:
dubious law breakers.
e pain am cheesy grin

3 Likes

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