ehissi:


Yeeeeeeeeeh!!

Where did you get the idea that the money is for infrastructure??

And why is the loan request higher than the National budget?? Or does it make sense for the President to be seeking expenses/expenditure outside budgetary provisions??

Isn't it proper for an appropriation to be sought first before seeking this loan; assuming it is true that the funds will be used for infrastructure - according to you Oooh

According to an official statement made by the current administration recently which I spotted here on Nairaland, the budget implementation is at 79%.

79% of 6.07trillion leaves a balance of #1.274trillion. So from your statement, we can imply that the government wants to increase the 2016 budget by over #7.785trillion using the instrument of debt.

For a country that is going through a recession does this not count as a waste

At we speak, rumour has it that the 2017 budget - in draft form - is even higher than the 2016 budget by over #1.1trillion. If we have to borrow to fund 2016 budget, what will we do when we seek to fund 2017 budget??

Borrow another $29.9billion to fund 2017 budget??

This was how aregbesola was doing when he started with Osun state, now he can't afford to pay salaries. Even his bail out plan needs a bail out plan.

Let's not deceive ourselves here, this government has no idea what it is doing because it doesn't have experienced hands in the proper place.

As I speak with you, even as we are right now, salaries for federal workers are not regular all-round.

My in-laws both in Federal Medical Centre abuja and bida who are medical personnel have been told, "when you see salary at the end of the month thank God, when you don't see salary thank God.". And we haven't borrowed $29.9billion yet.

If they now borrow nko, how will dey now pay back.

The US you are quoting, have you seen the debt profile of US??

It was the stubborness of US congress to refuse to raise the debt borrowing limit that put Obama in a meeting at white house on duty through out 31st night into the new year a few years ago.

The debt profile of US as at 2011 was over $18trillion and congress raised the debt borrowing ceiling to $24trillion at a time; I know by now, they would have exhausted that limit by now.

As at 2001 the debt obligation the US had at the UN alone was $2trillion.

We can't afford to be like them please Oooh!!

Even if we have all the infrastructure of malaysia, singapore, us and china, it will not be sufficient an investment to generate income to pay off such debt that Buhari is looking to borrow.

It's one thing to bash a plan. It's another to give an alternative. You clearly have a point. I am just talking from my lil knowledge of economics, stating what this borrowing can help us achieve if PROPERLY managed. You clearly know the in and out workings of the Nigerian government. So tell me, if you were in the president's shoes, what will you do differently

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.

You just reiterated my point that u just cook up stuffs without any fact finding, it terrible n I weep for u wen u say "u dnt need to do any research".. Let me start by saying first of all that u made no point first comment which I quoted, neither have u made any point n this one... I think ur comment is senseless in every sense of d word.. N I mean it..... Here is why:

First u said it was on record tht Nigerian displaced SA to be d fastest growing economy in Africa, I agree, with u. When Buhari came on board Nigeria dropped behind South Africa n I tink Egypt, nd pple like u wailed, but r u aware that Nigeria based on recent report has bounced back to be d fastest growing economy in Africa inspite of the recession : do ur research... So u can't attribute tht to d successes of d previous govt. If been D fastest growing economy in Africa is an achievement then y r u not praising D current govt cos it's also fact n it's on record. Truth is been D fastest growing economy in Africa is largely due to our overwhelming population, as u know we r d most populous black nation. so Tht doesn't reflect on d standard of living of d people. So if Thts what u mean by bustling den d economy is still bustling ryt now.

You talked about d IMF boss warning Buhari about d receding economy, tht was because d IMF boss wanted Buhari to devalue the naira, D IMF boss was wrong, y devalue a currency Tht was already devaluing itself due to lack of forex and depletion of our foreign reserves by d immediate past govt-This is a fact, do ur research to know the Genesis of the problem. I'm not an economist but I know that wen u dnt EARN enough forex, which is due to d fall in oil prices globally , which is no fault of Buhari and d Militancy n d Niger delta causing the output of crude our only source of revenue to cripple by half. In addition to that Jonathan had crippled our foreign reserves which could have been our last hope. It was a dead end for the new president.

Let me take u down Memory lane, I'm taking my time to school u, because u wallow n ignorance.. In 2008 or so, do u remember the global economic crisis, even d US economy entered into a recession, how was yaradua able to save D naira, because countries that depend on naira were d worst hit, nd so we were faced wiv a full blown recession, buh yaradua kept is afloat... How did he do that??

It was the saving that we had from objs regime that was used to defend D naira, week in, week out. Our foreign reserves saved us. I dnt mean excess crude account, thts diff fRm foreign reserve, cos i know I'll bring D gov forced GEJ to share proceeds fRm d excess crude acct. So our reserves was able to keep us afloat n Nigerians didn't feel d hardship because d naira remained stable due to d fact that we have saved alot of foreign exchange.

Now GEJ deeped his hands into our foreign exchange, tht was even more bolstered by yaradua, n depleted it despite having the price of crude oil, stable at over a $100 during his 5yr tenure. We're where u wen NOI was asking us to save for the rainy day, u guys never knew it would come, GEJ failed to heed tht warning, D rainy day has come nd u find it pleasing to blame the new sheriff in town, how wicked can u be.

Are u aware of the crises Tht was about to take place during d tail end of GEJs tenure, are u aware Tht GEJ was already borrowing to pay workers salary, how come immediately Buhari came on board he had to give states bail out fund to pay salaries from a "bubbling economy" as u called it. Truth is u know these facts u just choose to ignore dem n dwell on the once that better ur cause of wailing and defending wrong doing

Now to talk of the loan, there's nothing wrong in borrowing, even biz men borrow to carry out projects Tht wud generate money so they r able to pay back D loan, I find it really hypocritical to say that there's no plan on how d loan would be spent, isn't that dumb??

Are u saying u have not seen or heard d key infrastructural projects Tht d loan Is supposed to finance, or is it tht ur not just dumb, ur blind and deaf also.

The Senate has rejected without even debating but they were so quick to amend the CCT/CCB ACT.... Right thinking Nigerians are watching d drama all of u r putting up to ensure that Buhari fails, u tink ur winning, ur happy.....

Truth is Buhari won't b d one to suffer it, neida will D politicians suffer it, it's d ordinary citizens trying to make ends meet everyday Tht will suffer it, and if this man means well for us, nd pple like u r trying to block D progress like our corrupt senators then posterity will judge u.

I can't tell if he will at d end come out good, if he will take d loan n embezzle it, I dnt know, I dnt trust Nyone, but that doesn't mean we won't take d risk, tht doesn't mean we won't help our situation. The greased risk they say is taking no risk, that is worse off. I drop my pen at this point.

Help urself, educate urself, be informed, try to be objective, analyze situations from both angles bfre making statements that will embarrass u nd show ur emptiness.

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.

OLODO, comments.

Largas:

The main reason why Refineries haven't worked after OBJ and GEJ invested too much in the sector is because of corruption.

Diezanni Madueke never loot finish na to supervise revamping of Refineries?
If Buhari is truly incorruptible and the real Minister for Petroleum he should overhaul our Refineries and get them working. You'll create jobs, export refined oil meaning MORE FOREX. Fuel price reduces to #60 and so many other goodies attached.

You have another point about Agriculture and Manufacturing, but Innoson that COUPLES/Manufactures vehicles locally in Nigeria, what support has he gotten from the FG?

Many civilized nations would have given him more favourable Auto-Policies, Loans, Incentives and in few months, Nigeria will become Vehicle exporting Country. Small African Nations like CHAD, Niger, etc will be our Consumer countries.

But Bubu has poor economic team, or he doesn't listen to the available ones.

It all boils down to one thing. Corruption. My brother, if we start to analyse our problem, we will not even leave here In the next 10 years. Sometimes my head hurts when I think too much about Nigeria. And I honestly don't know why we aren't paying more attention to Innoson. It's still a mystery to me. Maybe there is something we don't know?

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.

it baffles me when intellectuals still defend Buhari
so 17 months in office is not enough fr diversification?
y do u pple love to blindfold yourself to d obvious truth?

Buhari, thought that he can deceive Nigerians the second time. He has no economic blue print to manage the so called loan. He only want to take the loan for his personal interest. He tried to sale our national assest but it did not workout. Now he wants to mortgage our future before going to meet his ancestors. Once bitten twice shy. Nigerians has wised up. Even a bank cannot give you a loan without a functional proposal. The game just started. Spectators are watching.

PDP senate led by its president Bukola Saraki has thrown out the Buhari led APC government proposed infrastructural projects, with this the days of Saraki's senate presidency are numbered

ON THIS DIRECTION IS TIME TO SELL SOME PART OF THIS NATION TO RASE FUND TO CONTINUE PAYING POLITICIAN THEIR FAT PAY,
what a useless government that has no vision

ilynem:

It all boils down to one thing. Corruption. My brother, if we start to analyse our problem, we will not even leave here In the next 10 years. Sometimes my head hurts when I think too much about Nigeria. And I honestly don't know why we aren't paying more attention to Innoson. It's still a mystery to me. Maybe there is something we don't know?

My brother. I have thought about Nigeria too but all I give myself at the end is headache.

I'm a fulfilled man, I've no family but I live a happy life & enjoy my tough earned wealth. Sometimes I feel I should tip into Politics and make a difference, yes a positive one.

I do not know if it is a ploy to stop SE from becoming an indegenous manufacturing hub.
Look at the way series of FGs have supported Dangote and Adenuga, one wonders what's left of Innoson and Ibeto?

Well, I'm not wailing. It is my believe that in every year, our demcratic wisdom matures and the electorates become wiser in electing acceptable Politicians. We have to believe it'll get better, because once that HOPE is dead, then there's nothing left to live for..

sevenhundred:
OLODO, comments.

To speak the English Language is not by force.

Yeee is this a change?

repogirl:
lmao! I remember when Boooohari was still campaigning and was asked during an interview that where will he get money to finance all his big ideas.... he replied that once they block all the leakages that there will be more than enough.

Me, I am now wondering whether they are not blocking leakages anymore. Why are they now going to borrow?

with buhari's glaring inconsistencies and clueless approach to really important issues ...we are doomed as a nation ..walahi

30 billion dollars is not a small money
30 billion is the total gross domestic production of some african countries
It can't be left in the hands of a clueless buffoon and his incompetent cabinet
It can't be left in the hands of a man full of inconsistencies
A man that will make a promise today and backtrack tomorrow
Come on such a man is not in his right state of mind
A man that is under the control of a few powerful persons
If he gains access to the money it will end up in the hands of the cabal that are controlling him
A question for zoogerians
What has the daura goat done with the loans he borrowed upon assumption of office
How does he plan on repaying the loans already borrowed
People of the zoo don't enter another one chance by supporting his loan request
The daura goat is yet to fulfil the promises made in his campaign

Largas:



My brother. I have thought about Nigeria too but all I give myself at the end is headache.

I'm a fulfilled man, I've no family but I live a happy life & enjoy my tough earned wealth. Sometimes I feel I should tip into Politics and make a difference, yes a positive one.

I do not know if it is a ploy to stop SE from becoming an indegenous manufacturing hub.
Look at the way series of FGs have supported Dangote and Adenuga, one wonders what's left of Innoson and Ibeto?

Well, I'm not wailing. It is my believe that in every year, our demcratic wisdom matures and the electorates become wiser in electing acceptable Politicians. We have to believe it'll get better, because once that HOPE is dead, then there's nothing left to live for..

Just graduated from the university, so I still have a long way to go. As for going into politics? Yes u can but one man can't make a change. The other corrupt ones will over crowd you and before you know it, you are acting like them. One thing I am sure of is that APC and PDP are not the solutions to our problems. We need more minds like you to form a new party and block all these party prostitutes from decamping and spoiling it . Maybe you can come up with this initiative

ilynem:

Just graduated from the university, so I still have a long way to go. As for going into politics? Yes u can but one man can't make a change. The other corrupt ones will over crowd you and before you know it, you are acting like them. One thing I am sure of is that APC and PDP are not the solutions to our problems. We need more minds like you to form a new party and block all these party prostitutes from decamping and spoiling it . Maybe you can come up with this initiative

You are an honest man. Thank you for your words of wisdom. I'll see what I can do.

I also support the nay group

NairaMaster1:


E pain you? Go and study our debt status. You think anything from buhari is OK meanwhile you study economics from a university

so?

seunmsg:


You want to diversify the economy without building key infrastructure like power and good rail network right? My friend, you don't know what you are saying. The infrastructures proposed in the loan plan is key to diversification of the economy.

Abeg, if na borrow borrow him wan take do him change policy wey dey kill ordinary Nigerians with hunger, make him no borrow again, e don do for bubu. U want him to borrow, so that he can continue wasting the money on drilling a dry land in the north, all in the name of looking for an oil, u try. Wetin!, how we go take pay this kain loan and when we go pay am finish? The president should gather his change team to fashion a way out of this economic recession instead of looking for an easy escape route. A debtor is never a free person hence, bubu wants to enslave our future, thanks to the senate for stopping the president. We need a smart and intelligent president and honestly, I don't see our president as one rather some group of persons, who are exactly like him are directing him on what to do. I wish Mr AFrican Development Bank current president would contest in our next presidential election come 2019, I will gladly campaign for him. We need smart and intelligent men like Mr Akinwunmi ( forgive me guys if I didn't get his name correctly but he is a Yoruba man). We need intelligent and smart change not the APC change.