DONSMITH123:



With due respect my brother, since the inception of this government. We have heard enough on the diversification of economy. Tell me what they've achieved on it.

They need to wake up before it'll be too late.

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

Useless government..

The next steps is to use EFCC to scatter the national assembly

ilynem:

How do you know there will nothing to show for it? What do you do when there is deficiency of demand (which is causing the recession)? You pump in money into the economy and it's always better to pump it into capital projects which is what the loan is for. As long as the loan is used properly, we are in good stead. The US is owing trillions of dollars and they have the most powerful economy in the world. You and I will suffer the brunt of the senate's decision not Buhari.

falxx:
So without rail, we cannot do anything to comot this recession abi? So we do not provided 24 power supply nothing can be to done to this hardest recession abi? There was so much food everywhere by the last government, was this due to abundance of power and rail abi? As at today, I am the happiest for the downturn of this Buhari's loan. This is shows his incompetence. If Buhari was a competent leader and with well structured and quilified minister, they would have identified other important areas and not to requesting for loan they cannot manage. Who is even quilified to manage the loan if given? Is it those very low and elementary minister of finance or what? Where is even the blue print to be followed? The fact is that Buhari is damn too dumb and incompetent to rule this country

tohchee96:
I only have one question ..and I all honesty its because I don't know ...

what I'm asking is ...

what happened to ..the recovered loot ?
I just want to know please ....

Largas:


Sharap. Repogirl don't mind her. Stop comparing US with Nigeria. The are an exporting nation while Nigeria is a consumer nation. How do we repay the debt when Oil is hitting bedrock and we import everything even toothpicks and EVEN OIL(refined)?

So don't compare us with them. China, Japan, US can handle huge debt because of their booming economy. We can't. Stop selling our unborn generatipon to slavery OGA.

Buhari should resign.

udumosam23:
What?

eduj:

we can mostly spend our way out of a recession if that capital would find its way into our economy. most of those projects would be carried out by expatriates (engineers and technicians) so, over 70% of that fund would find its way outside Nigeria. most of those projects are long term and would have no immediate impact on our economy. if Mr presido truly wants to help Nigerians, he should expediently reduce the salary and allowance of the executive while increasing minimum wage to around 45000 after all, their dithering in setting up an economic blueprint and their arbitrary increase in tax helped put us in this quagmire.

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.

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.

mashin:
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.

repogirl:
I totally agree with you o, I agree a hundred percent but the problem here is I don't trust Buharis govt to carry out this plan effectively. You compare us to the US but our country is very different from the US. US has brains and strategists planning their economy while Buhari has nepotists and cabals destroying ours.

Imagine appointing someone like Udo udoma in charge of our budget and the man doesn't even know what Nigeria owes at present.....how did he then plan the budget without factoring in that analysis.

I just dont trust Buharis people, even his finance minister hasn't come out with any concrete plans or a roadmap to revitalising the economy. These are the things the IMF is asking for before they can think of approving the loans.

Even if they manage to come up with a workable blue print, I doubt Buhari and his people will be able to implement it successfully because so far, the only thing Buhari has done is to push us into recession less than two years in office.

krendo:
Now that's victory for democracy!

That's how separation of power should work

There should be checks and balances

What Nigeria needs is not more borrowing, what we need is a cut in the cost of government!

DONSMITH123:


i think they are up to sumthing. the true picture will soon come out

ilynem:

This is why I don't argue with Buhari haters. I just gave my opinion and the next thing u say is "sharap". Calm down, forget hate and reason. How did U.S and China become exporting countries? Infrastructure. That is what the fund is for. How can we start exporting without proper funding in the right sectors?? The idea is a good one, the only problem is implementation, that's why this government needs to be more transparent.

repogirl:
lmao! It's ironic that a zombie is talking about being dumb and brainless. It seems you are more annoyed about weaves and makeup than the points I made, hence you attack them like a raving lunatic.

I don't need to do any useless research. You should do your research.

Isn't it in the records that Nigeria displaced SA to be the fastest growing economy in Africa? Since you have no idea what bustling means, consult your dictionary and leave Brazilian hair and makeup out of this. The IMF president Lagarde even visited Buhari to warn him about our receding economy but he was making mouth that we will look inwards and solve our problem. Has he finished looking inwards now? Now that we are deep into recession, he has run to the same IMF begging for loans without even a comprehensive, viable blue print on what to use the loan for or how to get us out of this situation and you are saying what? Is that the person that should be trusted with 30 billion dollars? We should trust him blindly? Even if zombies like you will trust him like that , I'm sorry dear but the IMF still have there senses intact.

I am a Nigerian who has experienced live the Obasanjo, Yaradua, GEJ govts and now Buharis own and If you have lost your senses or you are in denial, know this ...Recession did not begin until Buhari took over. Buhari has failed even before he began. If you still have a problem with what I say, read my signature and cure yourself of your zombiesm.

seunmsg:


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.

kITATITA:

Call a spade a spade. The Senators are attacking PMB because of his anti-corruption campaign. They didn't even pretend to debate the request, they refuse to cut their own criminal salaries and allowances, they refuse the government request to sell national assets; how do they want the economy to run. Same Senators haven't taken a strong stand against militancy and niger delta nor Boko Haram. Nothing. And for those saying diversify the economy overnight; I hope they know what they are saying. It takes several years and a lot of money to diversify the economy. Forget about sentiments, those Senators have just dealt serious blow to the destiny of the Nigerian people.

Chigold101:
is this your conclusion?

Oh noooo!

Ephemmm:



Ignorance at its peak! Buhari and GEJ no go suffer anything: you mean there won't be constant power supply in their respective homes, or lack of food to eat or lack of cars to ride or lack of good placement for their children after graduation?

Continue deceiving yourself over there: educated illiterate.

Inspectahdeck:
Wow see reasoning

Please remember we will all suffer the consequences.

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.

Largas:


If the Loan was being used to revamp our dead Oil Refineries so as to kill our Importation of Oil which is Nigeria's highest FOREX consumer then we'd see a gain of the Naira against the Dollar.

We spend Trillions importing refined Oil, everything, toothpics, even GRASSES, but you can revamp the refineries and kill the importation of Oil. This will also lead to fall of Fuel Price, taking it as low as N60/L. And life will start getting normal.

Of all the things the Loan will be used for, only the Mambilla Power Plant is that crucial, all these railtracks are stuffs you build when the Economy is stable, not in a time of recession and hardship.

Who go use the trains when en never see rice chop as it costs 25k a bag??

Abegi.

truefact:
Very good.

APC is evil, but baboon is surrounded by demons

ilynem:

Good point. We are all here to learn and I can understand where you are coming from. But rail tracks is something we actually need to aid transportation which is important for production. But let's forget that. Government spending actually stimulates the economy which is what we need now. You want to end the recession? We need to spend. But spend in the right sectors that will actually aid production. This is where I agree with you. Rail tracks will help, but that is not the priority now. Now talking about oil, we are actually looking for how to move away from oil to other sectors. Fixing refineries will help, but we have been talking about that for years now and nothing has been done! We need to improve on agriculture and manufacturing. That will earn us more foreign exchange and we need infrastructure in these sectors.

ilynem:

This is why I don't argue with Buhari haters. I just gave my opinion and the next thing u say is "sharap". Calm down, forget hate and reason. How did U.S and China become exporting countries? Infrastructure. That is what the fund is for. How can we start exporting without proper funding in the right sectors?? The idea is a good one, the only problem is implementation, that's why this government needs to be more transparent.