Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,152,409 members, 7,815,906 topics. Date: Thursday, 02 May 2024 at 08:44 PM

$29.9bn Loans: Buhari Rejects Obasanjo’s Counsel - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel (17908 Views)

Buhari Rejects Nigerian Peace Corps Bill / Buhari Rejects Files, Orders Aides To Meet Osinbajo / Achebe Center Moves To Block Buhari’s $29.9bn Loan Bid •writes World Bank (2) (3) (4)

(1) (2) (3) (Reply) (Go Down)

Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by olisaEze(m): 10:09am On Dec 03, 2016
So OBJ is now = Nigeria abi? PMB is only interested in allaying the fears of OBJ, making certain documents available for him to peruse, but can't put any effort into convincing the house of assembly or the general public that the gains on this loan out-weigh the cons. PMB must think we'r all stupid in this country, n we must be! Heck we voted him in nw!!

2 Likes

Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by mfujah(m): 10:13am On Dec 03, 2016
pls allow oga buhari to borrow... thanks
Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by Nobody: 10:13am On Dec 03, 2016
He who d gods wants to destroy, they 1st render mad!
The deaf, d.aft nomad is sure heading south!
#buhari is a disaster!

1 Like

Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by Nobody: 10:15am On Dec 03, 2016
jerryunit48:
So where are the recovered looted items
grin who told you they recovered anything,they recovered nothing. Forget about what you read on the faces of newspapers everyday.
Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by Miles300: 10:16am On Dec 03, 2016
After all the whole grammar on why they want to borrow such amount of money , they will still end up tellin us the money was used to pay salaries after using the loans for themselves !
Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by MrSly(m): 10:32am On Dec 03, 2016
It was gathered that the government would also make all the details available to the ex-President to prove that the loans would not amount to fresh “debt traps.”



Finally the govt of change is answerable to one man not the masses

1 Like

Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by GoldenJulius(m): 10:34am On Dec 03, 2016
Now we know who belongs to the other room.
Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by ComputerSeller: 11:10am On Dec 03, 2016
pinkcottoncandy:
why are Nigerians against borrowing?

UK has a population of 70 million and they owe over 1Trillion dollars.

Our Government should be able to borrow ....UNDER THESE CONDITIONS.

1) Borrow money to build 4 regional refineries. This will eliminate the fx losses from oil export/import saga. We will not need to export any oil but to use our oil here in Nigeria and sell any excess to neighbouring african countries. Masses will be able to enjoy little crumbs from the national cake ...as price of fuel will reduce to maybe 20 naira per littre....our currency will stabilise ....ohhh and appreciate....

2) Borrow to fix our NEPA electricity issues so that the common man can enjoy life, local business can grow and industries can strive, inviting foreign investment to build factories regionally so that youths can get employed.


THESE ARE THE ONLY 2 ISSUES THE GOVERNMENT SHOULD BE ALLOWED TO FIRST BORROW MONEY FOR. AND NOTHING ELSE UNTIL THESE 2 ARE ACCOMPLISHED....

It does not matter if the amount borrowed is 200 billion dollars

Imagine our annual budget for 200 million people( no need to deceive ourselves..we are more that 200 million in number)....

A tiny budget for a lot of people. considering the purchasing power parity is not in our favour.....Goods are more expensive in Nigeria that other countries how are we expected to develop...how is our GDP supposed to increase...

I dont understand who advises our leaders....a bunch of IDJIOTS. Why can they not get leading professors globally to form thinktanks to advise on our different policies before they are implemented?

A person who does not realise he has body odour...how will he know that he needs to buy a good rollon;....The same way a government who does not understand the dynamics that drive and economy, how can they know how to create policies to fix the economic mess Nigeria is in?

YOUTHS YOU MUST RAISE YOUR VOICES-----WE NEED GLOBAL THINKTANKS TO ADVISE OUR GOVERNMENT AND NOT FAT BELLIED FOOOLLLSS THAT KNOW NOTHING ABOUT ECONOMICS.

AS FOR THE STUPIDITY OF OUR CBN.....NO COMMENT!!!
ok
Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by mbhs139(m): 11:23am On Dec 03, 2016
pinkcottoncandy:
why are Nigerians against borrowing?

UK has a population of 70 million and they owe over 1Trillion dollars.

Our Government should be able to borrow ....UNDER THESE CONDITIONS.

1) Borrow money to build 4 regional refineries. This will eliminate the fx losses from oil export/import saga. We will not need to export any oil but to use our oil here in Nigeria and sell any excess to neighbouring african countries. Masses will be able to enjoy little crumbs from the national cake ...as price of fuel will reduce to maybe 20 naira per littre....our currency will stabilise ....ohhh and appreciate....

2) Borrow to fix our NEPA electricity issues so that the common man can enjoy life, local business can grow and industries can strive, inviting foreign investment to build factories regionally so that youths can get employed.


THESE ARE THE ONLY 2 ISSUES THE GOVERNMENT SHOULD BE ALLOWED TO FIRST BORROW MONEY FOR. AND NOTHING ELSE UNTIL THESE 2 ARE ACCOMPLISHED....

It does not matter if the amount borrowed is 200 billion dollars

Imagine our annual budget for 200 million people( no need to deceive ourselves..we are more that 200 million in number)....

A tiny budget for a lot of people. considering the purchasing power parity is not in our favour.....Goods are more expensive in Nigeria that other countries how are we expected to develop...how is our GDP supposed to increase...

I dont understand who advises our leaders....a bunch of IDJIOTS. Why can they not get leading professors globally to form thinktanks to advise on our different policies before they are implemented?

A person who does not realise he has body odour...how will he know that he needs to buy a good rollon;....The same way a government who does not understand the dynamics that drive and economy, how can they know how to create policies to fix the economic mess Nigeria is in?

YOUTHS YOU MUST RAISE YOUR VOICES-----WE NEED GLOBAL THINKTANKS TO ADVISE OUR GOVERNMENT AND NOT FAT BELLIED FOOOLLLSS THAT KNOW NOTHING ABOUT ECONOMICS.

AS FOR THE STUPIDITY OF OUR CBN.....NO COMMENT!!!

In as much as I didn't quite agree with your post in its entirety, the point I want to make is that of the first few commentators, you're the only one that made sense and yet you had just one 'like'. This tells you how shallow minded the youths of today are; they are bereaved of logical reasoning. Very unfortunate.

1 Like

Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by smileyoo: 11:26am On Dec 03, 2016
in our local meetings, if u were our chairman 30yrs ago, and u want to become our chairman today, our members must evaluate ur success in ur given bussiness or profession b4 casting their vote for you. bt nigeria is strange, we enthrone mediocrity bt expect things to work out fine. what investment has dis our chairman nutured to success, since he left office in 1984? keep on expecting positive changes.

1 Like

Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by wadetaw202: 11:30am On Dec 03, 2016
DozieInc:
Buhari and Mrs English wont listen, they have sworn to finish the country.

But Mrs English too seems to be helpless in the situation.

1 Like

Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by Nobody: 11:35am On Dec 03, 2016
How does he intend to pay back the loan ? No one should be stopped from taking a loan, but before you take any loan, you must fulfill one condition which is; That the loan must be taken in your first tenure and make sure you pay back all the loans you take before the end of your 4 year tenure. If you win re-election, you are not free to take any loans.

1 Like 1 Share

Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by bigpicture001: 11:44am On Dec 03, 2016
pinkcottoncandy:
why are Nigerians against borrowing?

UK has a population of 70 million and they owe over 1Trillion dollars.

Our Government should be able to borrow ....UNDER THESE CONDITIONS.

1) Borrow money to build 4 regional refineries. This will eliminate the fx losses from oil export/import saga. We will not need to export any oil but to use our oil here in Nigeria and sell any excess to neighbouring african countries. Masses will be able to enjoy little crumbs from the national cake ...as price of fuel will reduce to maybe 20 naira per littre....our currency will stabilise ....ohhh and appreciate....

2) Borrow to fix our NEPA electricity issues so that the common man can enjoy life, local business can grow and industries can strive, inviting foreign investment to build factories regionally so that youths can get employed.


THESE ARE THE ONLY 2 ISSUES THE GOVERNMENT SHOULD BE ALLOWED TO FIRST BORROW MONEY FOR. AND NOTHING ELSE UNTIL THESE 2 ARE ACCOMPLISHED....

It does not matter if the amount borrowed is 200 billion dollars

Imagine our annual budget for 200 million people( no need to deceive ourselves..we are more that 200 million in number)....

A tiny budget for a lot of people. considering the purchasing power parity is not in our favour.....Goods are more expensive in Nigeria that other countries how are we expected to develop...how is our GDP supposed to increase...

I dont understand who advises our leaders....a bunch of IDJIOTS. Why can they not get leading professors globally to form thinktanks to advise on our different policies before they are implemented?

A person who does not realise he has body odour...how will he know that he needs to buy a good rollon;....The same way a government who does not understand the dynamics that drive and economy, how can they know how to create policies to fix the economic mess Nigeria is in?

YOUTHS YOU MUST RAISE YOUR VOICES-----WE NEED GLOBAL THINKTANKS TO ADVISE OUR GOVERNMENT AND NOT FAT BELLIED FOOOLLLSS THAT KNOW NOTHING ABOUT ECONOMICS.

AS FOR THE STUPIDITY OF OUR CBN.....NO COMMENT!!!
Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by bigpicture001: 11:50am On Dec 03, 2016
In as much as I support borrowing,nigeria shld nt borrow under harsh condition of re- inbursement,we shld nt borrow to develop one region in d name of politics if party like dia government is proposing,we shld borrow gradually and not in bulk like we plan to do,we shld nt borrow to fin inaceptable ailing government busineses,instead we should privatise them.....honestly I don't trust this government!
Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by Nobody: 12:15pm On Dec 03, 2016
PATENT GOLDMINE OR ECONOMIC THALIDOMIDE? THE VIABLE OPTION OUT OF RECESSION

This is a question for the government of the day. Why do we have a legacy of $150 billion and still swim in depth and dirt of economic recession? While we have a goldmine to tap into, we keep on swallowing the economic thalidomide pill of borrowing which has proven to be our undoing for many years now.

Our dependency on oil revenues have blinded our successive governments to opportunities and our affinity to borrowing is pathetic. In the past 15 years, we have been borrowing to pay salaries without care for infrastructural development. A renewed attempt by the presidency to borrow another $30 billion is an economic thalidomide that we were able to avoid.

Property Rights in Nigeria is a viable way out of recession into prosperity. We must not forget how America got so rich with property rights. The American government benefitted from a quick setup of the patent office. Intellectual property like patents, copyrights, and royalties makes it possible for people to profit from their creations. American professional class of actors, artists, writers, musicians and specifically Bill Gates riches won’t exist without intellectual property.

A society ruled by laws protects property. Property rights were the secret to America’s success. When citizens are assured and confident of the protection of the government when someone tries to take their property from them, then they work very hard to earn and invent. This leads to prosperity.

Why would I work hard, invent and give my all to make a difference when it can be taken from me without a government to protect her interest? Nigeria today can boast of Patent RP 13522, an invention called Anti-Corrosive Special Paint and worth over $150 billion. It is used by many oil multinationals to curb the menace of pipeline and equipment corrosion.

The Patent owned by a Nigerian company can end our economic woes and bring about massive infrastructural development. It will bring into our foreign reserve over $47 billion in less than 90 days with a potential of $150 billion before year 2019 should the government taps into it.

The refusal of users and infringers to pay up the Patent royalties can be attributed to the failure of our 3 arms of government to be patriotic especially now that our failing economy needs the royalties for survival.

The Patent Goldmine or Economic Thalidomide?

Rather than take the same economic thalidomide of borrowing that has been our undoing in recent years, the government of the day will do Nigerians a lot of good by reaching out to the management of Comandclem Nigeria Limited and our infringing oil multinationals for a round table talk over payment of $47 billion royalty overdue.

Such patriotic gesture is what we need to get out of recession in the shortest possible time. At the moment, it is our most viable option.

Chief Ken
Advocacy Officer
Comandclem Nigeria Limited
07035052057
http://comandclemonline.com
Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by AUcom66(m): 12:19pm On Dec 03, 2016
pinkcottoncandy:
why are Nigerians against borrowing?

UK has a population of 70 million and they owe over 1Trillion dollars.

Our Government should be able to borrow ....UNDER THESE CONDITIONS.

1) Borrow money to build 4 regional refineries. This will eliminate the fx losses from oil export/import saga. We will not need to export any oil but to use our oil here in Nigeria and sell any excess to neighbouring african countries. Masses will be able to enjoy little crumbs from the national cake ...as price of fuel will reduce to maybe 20 naira per littre....our currency will stabilise ....ohhh and appreciate....

2) Borrow to fix our NEPA electricity issues so that the common man can enjoy life, local business can grow and industries can strive, inviting foreign investment to build factories regionally so that youths can get employed.


THESE ARE THE ONLY 2 ISSUES THE GOVERNMENT SHOULD BE ALLOWED TO FIRST BORROW MONEY FOR. AND NOTHING ELSE UNTIL THESE 2 ARE ACCOMPLISHED....

It does not matter if the amount borrowed is 200 billion dollars

Imagine our annual budget for 200 million people( no need to deceive ourselves..we are more that 200 million in number)....

A tiny budget for a lot of people. considering the purchasing power parity is not in our favour.....Goods are more expensive in Nigeria that other countries how are we expected to develop...how is our GDP supposed to increase...

I dont understand who advises our leaders....a bunch of IDJIOTS. Why can they not get leading professors globally to form thinktanks to advise on our different policies before they are implemented?

A person who does not realise he has body odour...how will he know that he needs to buy a good rollon;....The same way a government who does not understand the dynamics that drive and economy, how can they know how to create policies to fix the economic mess Nigeria is in?

YOUTHS YOU MUST RAISE YOUR VOICES-----WE NEED GLOBAL THINKTANKS TO ADVISE OUR GOVERNMENT AND NOT FAT BELLIED FOOOLLLSS THAT KNOW NOTHING ABOUT ECONOMICS.

AS FOR THE STUPIDITY OF OUR CBN.....NO COMMENT!!!
Nice analysis, but unfortunately economics does not work that way, UK may be having one trillion dollars as it debt profile, but they have a strong economic structure, large GDP, increasing GNP and most importantly a consistent revenue generation. Thesame thing with USA and China. Please try to verify these :
Nigerian revenue ratio to it debt
Nigerian GNP ratio to it debt.
Stability of Nigerian currency and
Efficiency of it tax collection.
Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by bart10: 12:41pm On Dec 03, 2016
It's a joke. All over the world, there's divestment of Government's interest from ventures like rail transport, air transport, road transport etc to private hands. Interestingly, that's what this Government is still planning to embark on in this age. This Government is cursed without doubt. The current leadership is too dull to understand the dynamics of modern governance.

1 Like

Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by Nobody: 12:57pm On Dec 03, 2016
“These loans are coming from some liberal creditors

what sort of metaphor is liberal creditors.
Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by bayutech(m): 1:21pm On Dec 03, 2016
Sibrah:
The idea of borrowing isn't bad, but borrowing to do projects that will not yeild returns anytime soon is bad.
Let the govt tell Nigerians Who's going to repay the loans and how in detail.
We don't want another Osun state X 36.

you are on point my bro from another mother. this is just the point.


that was how ogbeni started, now he can't pay salary, lautech students have been on strike over six month now, other states are receiving billions, he's receiving million, no executives. Osun has turn to a prison, yes prison. I mean it, prison. Let's all shout with one voice and say NO to FG Loan.
#proudly afonja.... #Biafra supporter #respect Gej than the Pmb.

1 Like 1 Share

Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by omohayek: 1:42pm On Dec 03, 2016
bart10:
It's a joke. All over the world, there's divestment of Government's interest from ventures like rail transport, air transport, road transport etc to private hands. Interestingly, that's what this Government is still planning to embark on in this age. This Government is cursed without doubt. The current leadership is too dull to understand the dynamics of modern governance.

At last a commenter who gets it! These are all things that private investors would be eager to take on with their own money - assuming the country were being run by a government that is business-friendly and has sane economic policies. The idea that refineries, railways, airports and so forth need to be run by government is simply stupid, and Nigeria's long record of failure with all these things should say something about how well this belief has worked over the last 50 years.

Nigerians are busy making noise online about Donald Trump selecting Bayo Ogunlesi as part of his transition team, but the President of Ogunlesi's native country doesn't seem to realize that Britain's Gatwick airport is actually owned and run by a consortium headed by Ogunlesi's firm. How many Nigerians wouldn't be singing hallelujah if Murtala Muhammed were run half as well as Gatwick? Yet as soon as you raise the possibility of privatising any of these facilities, you hear ignorant nonsense about "national assets", though in their current state they'd be better called "national liabilities".

2 Likes 1 Share

Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by Emassive(m): 2:29pm On Dec 03, 2016
Werey president
Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by Codes151(m): 2:41pm On Dec 03, 2016
DozieInc:
Buhari and Mrs English wont listen, they have sworn to finish the country.
i swear na confirm name be dt! Mid English without brain
Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by sigolisis: 7:20pm On Dec 03, 2016
NIGERIA WANTS TO BORROW MONEY FROM [b][/b]ISLAMIC DEVELOPMENT BANK? is looking like it ooo
Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by Bom4Real: 9:37pm On Dec 03, 2016
They ve deceived Buhari to borrow for apc 2019 elections
Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by ofwest47(m): 10:04pm On Dec 03, 2016
Nigeria is a country full of dullards as shown in the response of wailers to the proposed borrowing of 30billion dollars to tackle major development projects, if one could recall the former British Prime minister took a loan of £50 billion pound sterling from the Islamic Bank of Britain to tackle major economic issues affecting his country and there was no weeping as we are witnessing in this country of dullards.
Buhari should not listen to the wailers and should go ahead with his plans to bring back the country to the nation of our dream.
Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by Nobody: 11:18pm On Dec 03, 2016
pinkcottoncandy:
why are Nigerians against borrowing?

UK has a population of 70 million and they owe over 1Trillion dollars.

Our Government should be able to borrow ....UNDER THESE CONDITIONS.

1) Borrow money to build 4 regional refineries. This will eliminate the fx losses from oil export/import saga. We will not need to export any oil but to use our oil here in Nigeria and sell any excess to neighbouring african countries. Masses will be able to enjoy little crumbs from the national cake ...as price of fuel will reduce to maybe 20 naira per littre....our currency will stabilise ....ohhh and appreciate....

2) Borrow to fix our NEPA electricity issues so that the common man can enjoy life, local business can grow and industries can strive, inviting foreign investment to build factories regionally so that youths can get employed.


THESE ARE THE ONLY 2 ISSUES THE GOVERNMENT SHOULD BE ALLOWED TO FIRST BORROW MONEY FOR. AND NOTHING ELSE UNTIL THESE 2 ARE ACCOMPLISHED....

It does not matter if the amount borrowed is 200 billion dollars

Imagine our annual budget for 200 million people( no need to deceive ourselves..we are more that 200 million in number)....

A tiny budget for a lot of people. considering the purchasing power parity is not in our favour.....Goods are more expensive in Nigeria that other countries how are we expected to develop...how is our GDP supposed to increase...

I dont understand who advises our leaders....a bunch of IDJIOTS. Why can they not get leading professors globally to form thinktanks to advise on our different policies before they are implemented?

A person who does not realise he has body odour...how will he know that he needs to buy a good rollon;....The same way a government who does not understand the dynamics that drive and economy, how can they know how to create policies to fix the economic mess Nigeria is in?

YOUTHS YOU MUST RAISE YOUR VOICES-----WE NEED GLOBAL THINKTANKS TO ADVISE OUR GOVERNMENT AND NOT FAT BELLIED FOOOLLLSS THAT KNOW NOTHING ABOUT ECONOMICS.

AS FOR THE STUPIDITY OF OUR CBN.....NO COMMENT!!!
if only gej had use the 21 billion dollars in our ECA to build one mega refinery n repair the remaining 3 we had. we wouldn't not have been in this mess.
Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by Nobody: 11:19pm On Dec 03, 2016
Miles300:
After all the whole grammar on why they want to borrow such amount of money , they will still end up tellin us the money was used to pay salaries after using the loans for themselves !
this is not PDP govt.
Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by Nobody: 12:57am On Dec 04, 2016
charliboy654:

this is not PDP govt.
this is worst than PDP government. Shine your eyes, you have been scammed!
Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by Nobody: 1:11am On Dec 04, 2016
socialmediaman:
I Hope Nigerians stand solidly AGAINST this insane borrowing move by this government!

A government that is so slow at implementing policies in the name of being careful, so rigid in opening up the economy to trade and investment, so blind in identifying and exploring economic opportunities, and so incompetent that it drove the economy into recesssion, CANNOT be trusted with a $29 billion dollar loan. Buhari could not manage the ailing economy that GEJ handed over to him in 2015, where did he get the wisdom and competence to manage a whooping $29 billion dollars which will also be accruing interest and pile up more debt?

STAND UP AGAINST BUHARI'S INCOMPETENCE

This is so heartbreaking!
Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by Nobody: 1:12am On Dec 04, 2016
"There is no amount of revenue that is enough for a visionless and wasteful government" - Martin Onovo
Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by kolly271: 10:04pm On Sep 06, 2018
.
Re: $29.9bn Loans: Buhari Rejects Obasanjo’s Counsel by OreMI22: 10:08pm On Sep 06, 2018
So if all the former Presidents just borrowed $30 billion dollars regardless of Nigeria's income, would we even have a nation today?

Zimbabwe will be a childs play compared to what Buhari plans for Nigeria

(1) (2) (3) (Reply)

Government Not Responsible For Creating Jobs – Femi Adesina / Ochereome Nnanna Apologizes To Yoruba Nation / We’ll Follow Due Process To Punish Saraki, Others –APC

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 93
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.