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!!!

Mumu, Britain borrows in pounds, their own currency, so they can source it at anytime. This loan is not in Naira, so we cannot always source it. Think before typing and insulting in the process.