Hi roomies,

I guess this is also an important forum to discuss the future of our great country Nigeria. We've just been given about 60% concession on our External Debt profile, this we celeberated throughout the country.

The question now is, how do we ensure a viable Post Debt Era economy. What are the things our leaders must put in place to forestall reoccurrence.

Your entries are most welcome and who knows, may help our greedy leaders.

Thanks a million times.

this topic has caught my attention but I had nothing to say or comment because I don't know were we are heading in virtually everything we do in this country. therefore I felt my comment might be meaningless here. But something that is happening to the topic quickly made to realise that this topic has been left unattended to probably because a lot of a Nigerians are aslo in the dark just like I am. Therfore no one will say a word, and if that is the extent to which Nigerians are left confused and in the dark on matters relating vividly to theiir future and that of their children then it is a pity.......

babagana:

this topic has caught my attention but I had nothing to say or comment because I don't know were we are heading in virtually everything we do in this country. therefore I felt my comment might be meaningless here. But something that is happening to the topic quickly made to realise that this topic has been left unattended to probably because a lot of a Nigerians are aslo in the dark just like I am. Therfore no one will say a word, and if that is the extent to which Nigerians are left confused and in the dark on matters relating vividly to theiir future and that of their children then it is a pity.......

Yeah, u scored a point there. people do not seem to know the importance of the topic. interestingly, some of the so called leaders may have cause to be on this site and see most of our suggestions on the way forward; we never can tell.

It's too early to celebrate. The Finance Minister is having trouble comvincing our lawmakers to authorize the first $6.4 billion dollars of the debt as agreed in the debt reduction deal. Who knows if they'll keep frustrating her until the debt reduction deal is withdrawn?

D'yu kno somethin? People are still very much suspicious of the whole thing I presume and people do not understand in plain language what the debt forgiveness is all about and what price we have to pay at long run. And everybody knows that the Europeans and the Americans are the last people to be altruistic in anyhing.

Personally there is more to it than meets the eye.

Seun:

It's too early to celebrate. The Finance Minister is having trouble comvincing our lawmakers to authorize the first $6.4 billion dollars of the debt as agreed in the debt reduction deal. Who knows if they'll keep frustrating her until the debt reduction deal is withdrawn?

but what are these Senators up to? Honestly, i want this debt wahala to be out of our ways so that we can enjoy better conditions of living.
Also, with the debt ou, Naira - Dollar gap will be reduced for sure.

The other reason for the lethargy is that.... we have not 'seen' what the loan money was used for ..( except being stolen) neither have we felt, in any real way, the effect of the money we have now.
Also, no one trusts that the government in power will use the freed resources for the benefit of the people.

What next should be done?....
1.Hunt down every one that stole these loans and its derivatives.
2.Get the current government, by whatever means, to account for all monies that it has received since 1999
3.Restructure Nigeria into a form that will allow for real (people centred) growth. The current structure is aimed at underdeveloping all its constituents.

No, we just need to stop the looting, maintain security and the rule of law, then allow the enterprising minds among us to do their work of developing the nation. And please no more world bank loans, thank you very much.

Seun:

No, we just need to stop the looting, maintain security and the rule of law, then allow the enterprising minds among us to do their work of developing the nation. And please no more world bank loans, thank you very much.

Seun, this is an excellent view. We just have to set a new starting point based on the experience of the past not necessarily hunting the past.

@..Owo....What happen if we continue to hunt the past and the same factors that plague the past continues with the present and the future.

We should invoke the power of NOW and put a stop to looting, security laxity, shoddy treatment of the rule of law and more importantly concentrate on the creation of enabling environment for the enterprising ones to excel.

Our problem is purely systemic. Prosecuting looters may not 100% deter those that will still want to loot. But putting in the entire system a check that will make it almost impossible for people to loot is rather the key.

checks and balances do not work effectively in Nigeria, our so called leaders are not interested in projects that will
not increase their bank account(s) so untill that is assured, the finance minister will continue to have problems with the house concerning the payment.

I suspect this debt relief by the Big boys cos i know for sure that there is no free lunch so what is the deal?

I think we should look at the finance minister's cupboard too. She might have some skeletons there. I for once have never trusted her one bit.

You know, one House of Rep. member had to shut OBJ up when he was presenting year 2006 budget at the NA. Reason: OBJ has never, since the inception of his administration, implemented any of his budgets to the letter during any fiscal year. He just comes around to read to the lawmakers his budget proposals and that's all. He goes back to do as he pleases. And that's under the watchful eyes of Mrs. Okonjo. I bet she's enjoying the show. In civilised economy, she would have resigned her appointment for the singular reason that the President does not implement budgets drawn out by her ministry and agreed to by all concerned.


Aside from this, Okonjo earns fat pay amongst the ministers in Abuja. What manner of person, who has the interest of her nation at heart, will want to collect her salaries in dollars? Does this not smack of an Apostle of the World bank in disguise? She might be a Nigerian, but, who does not know that many Nigerian can change their identity at anytime ''T'' especially for someone who has risen to the level Mrs. Okonjo got to in life? She's just here on a sojourn. She'll get back to NY and start cooling off after taking a lot of loot with her. God have mercy on us!

I disagree with the notion of "no more world bank loan"

World bank loans are a necessary ingredient for our national development, or any country, for that matter. But I agree that what we need to continue doing is to legislate and enforce the rule of law.

Developed countries' citizens are more law abiding than we are because they have been nurtured in societies where there is efficient enforcement of the rule of law. If most westerners had to live in Nigeria for a decade, they'd likely become more corrupt
than the average.

Ono, I wish you realise that you just made very inaccurate statements about
the finance minister, Okonjo Iweala. On the contrary to your assertions, She is
actually one of the leading lights of Obasanjo administration.

Did you read the newspaper piece about how she negotiated our $18B debt
forgiveness, after it had hit a road block with the Paris club??

Here it goes: Frustrated, Okonjo Iweala contacted her former boss at the IMF, Anne Bleep,
and what does Anne do?.... she places a call right there to Condoleeza rice, (a close friend) 
persuading Condie to meet Okonjo-Iweala.

Talk about Pedigree, right there! Condie (or her staff) would not have given the time of day to a third
world finance minister, if not for the right connection/pedigree.

Anyways, Okonjo-Iweala, dressed in her Sunday best, meets the US Secretrary of state, and
persuades her to put a word in for us to the Europeans. Short of the story, we got the deal!!!

Okonjo Iweala is a new breed of leaders that Nigeria need to continue to cultivate, along the
likes of Akunyili (NAFDAC).. Soludo (CBN).



www.prepaidnigeria.com - A better way to recharge

@..PrepaidNG... Without prejudice of any sort, i think u're right. Okonjo is one of the new breed ministers that can push this country forward in a very positive way. Tribal sentiment apart, she is doing a great job.

@ Ono... some of these Reps that u talked about are bitter because of the tight check on them by the executive arm. Now, telll me; if Obasanjo has not been implementing the budget say to about 75% of its content or framework, do you think another cry of Impeachment would not have been the order of the day since?

About the minister being paid in Dollars, if u're changing job (not even when somebody is begging u to come and take up a job); if your new employer cannot pay you more than what u're earning presently, at least; he'she should pay you what u're earning as at now. The same applies to Okonjo Iweala.

Le'ts be objective here.

Recharge Card,
See, I'm not saying that I have not read all these good things these folks have done. Aside from Akunyili & Soludo, all the other folks perform only on paper. All these debt forgiveness thing is still on paper! They are good, but, with a pinch of salt! I mean, I have to be very careful with all these good people. How on earth could they be dining and wining with evil chaps around and not be soiled?

Abeg leave that Rice woman. She has enough on her hands for now at Iraq and Middle East. If she responds positively (you nave not said so though) to Okonjo, it's because there's some juicy things coming from Nigeria. Maybe some coins to help fund US interest in Iraq!

Have you read the entry by Alheri? Her sister was in the thick of the finance ministry. She was there when truckloads of cash exchanged hands and nothing was done to stop them. In fact they were told to be silent on the matter.

By my nature, I don't swallow any news I hear just like that. I do 360 deg view on sensitive national issues. That's why I'm very skeptical about this debt relief thing. In fact the thing dey worry me. E fit be say them don sell all of us now and we no know jack! Chineke God! Help us o and deliver us from people with ''tuface''

Ono...Yepa...! Armagedon o.....
Just chill.....and remember.....It shall be well!!

ono:

Recharge Card,

Infact, u made my day here. Waoh! I can't just dtop laughing here. U're fantastically funny. L M F A O!!!!

Mai brother, I did not know that I used that name. prepaidNG abeg no vex. And no mind yemstrad o. It's just that recharge card came to my mind while I was replying to your entry. Sorry bo.

Lets be a bit more pragmatic in our approach and look back at history.

How many nations in the past have actually benefited from these world bank loans truly- when I say truly I mean without any strings attached to them or their leaders?

Remember Fela's song....." them go pick one African man, a man with low mentality, them go give am million Naira bribe to become one useless chief....... like Rabbit dem go dey some corner corner.....gradually dem go start start to steal money, start start dem inflation, start start dem corruption".......and so on. this is true talk  but said by a man that will never be understood, perhaps never be taken seriously but its the truth.

It has happened in Zaire where a World bank representative was made to head their Central Bank just like we are having today. the heads of our Finance engines are all World bank employees who will rather look at the interest of their employers that have guaranteed their future than that of their nations. That is why MADAM NG  and Economic Soludon sorry solution expert will only accept payment in US$$$. Finally they left that country alone when it was fully in crisis.

Meanwhile our let me ask this, why has Brazil refused to pay its US$100B DEBT from world bank?
Why is it that the US is the worlds No.1 world bank debtor?
Why is it that the world bank is only willing to help us and sectors that must be cmmercialised in future?
Why did the world bank give us our first US$1b loan when we do not need it just like Zaire?
Is the US not controlling the World bank? Which explains why Rice plays a role in Madam NG drama with world bank....
Why is it that the US dumps its annual excess wheat to the sea rather help the poorer nations of the world suffering from hunger?
Why is the US a good samaritan only when it comes to developing nations that can stand by themselves when left alone?
The answer all boils down to interest, and we would like to know what is US/world bank interest in its recent altruism?

I think the answer is not too far and difficult.....its called cocacolonisation, bikinis, drugs, nudity and gay clubbing simple!
The US central processing unit ( immorality) to control of the rest of the world. The era of world wars is over this is the new technique.

I rest my case.

Yes Babagana you 're right but we need to do something and not to leave everything to them. We can advice them afterall, we need give them the benefit of doubt concerning this debt forgiveness.

yemstrad:

Yes Babagana you 're right but we need to do something and not to leave everything to them. We can advice them afterall, we need give them the benefit of doubt concerning this debt forgiveness.

I'm sure u are kidding, advice them? from where? they have enough advisers, so wetin u wan talk, abi their advisers no dey do the work dem pay dem for? please talk something else, becos all we can do is talk on this forum, rage if we want to, but if we can maybe they can be invited to this forum to know the views of the masses, cos we represent them.

@yemstrad....how my brother? are u going to set up a group? are u willing to be victimised? are u ready to die for ur motherland? answer these questions.

One thing that people always forget is that the world bank is a actually a bank. What do banks do? They make loans and then they earn from the interest. Now will a bank be happy if people are not taking loans? Of course not! So it is in their interest to convince us that we actually need their loans so we'll take those loans and they profit from the interest. A banker's dream is to have everybody borrowing money for every small thing and paying back with interest within the stipulated period.

PrepaidNG: World bank loans are a necessary ingredient for our national development,
or any country, for that matter.

Can you prove that statement? The world bank, just like any other bank, is a very biased source of information about how much money you need to borrow! Let us put that at the back of our minds. Their aim as a for-profit bank is to have us borrow the maximum amount of money we can borrow without defaulting on repayments - that's why they are offering debt relief and at the same time approving more loans!

hotspice:

@yemstrad....how my brother? are u going to set up a group? are u willing to be victimised? are u ready to die for your motherland? answer these questions.

There is no big deal here. I'm no saying we should criticize anybody but just to advice. If they take the advice, fine if they do not, we will be convinced that we have done our bit of it. No victimisation from mere advice.

No need for any special group. this forum NL is no child play. Don't be surprise that OBJ himself may know about this forum NL or at least some of his aides will know about it either for security or national intelligence reasons.

They might not be registered members but may continue to view opinions as guests.

Well, i will be prepared to die if that is going to be a worthy sacrifice for a better and ideal Nigeria.

Yemstrad,
We need your type in this country. Don't worry, it will not get to the stage that you'd die first before we'll get solutions to our problems in this country. We will not stop giving our candid advice.

As per National Intelligence people on this forum, I believe there are some. That's why I said in one of my posts that man must be very careful on this forum o. Yoruba folks will say: Ogiri l'eti: The wall have ears.

@ono.....Blessings abounds from God for the righteous and the one who speaketh the truth.

The prize of perpetual silence when there are lawlessness, absolute corruption, political thugery, avoidable killings, civil unrest, infrastructural and moral decadence; in the face of abundance of natural resources, human and material wealth is more PAIN even in DEATH.

Check ou the latest on Debt ''forgiveness''

http://www.thisdayonline.com/nview.php?id=38244

Methink we are incuring more debts already.

ono:

Check ou the latest on Debt ''forgiveness''

http://www.thisdayonline.com/nview.php?id=38244

Methink we are incuring more debts already.

My brother dont lbe fazed by the headline. The questions i believe we should be asking are;
1. Is it standard practice to employ such consultants?
2. What is the going rate? Are we paying more than we ought to?
3. How long do we have to pay them or what is their work scope etc

They will not give any answer to all those questions. Those facts cannot be disclosed to the public. I hear OBJ does not like certain of his policy objectives and PDP family affair things disclosed to the public.

If that's the case then, do you think they will tell you about that kind of drainpipe in the finance ministry?

I have said it before now that Mrs. Okonjo Iweala should be closely monitored. I will not be surprised if OBJ does not know that his govt. is paying so much to finance the payments for some shoddy jobs in the finance ministry. He's too old to be bothered by such things. I bet he's more concerned with how to feed the chickens and pigs at Ota farms than paying close attention to what goes on in the finance ministry. OBJ strikes me as one who likes to be surrounded by experts, even though he has his own personal agenda and workscope for them. Those experts are just there to dance to his tune. But the intellectual folks will praise him for putting those experts there, thinking they will help him do the right thing.


I kept telling folks on this forum that evil begets evil. If you mix evil and good, you'd get EVIL and nothing else. OBJ is setting a precedence that future leaders might follow. Everyday, our rulers devise new strategy (ways and means) of how to pull a veil over our eyes to deceive us. They tell us that they care for us and the next minute, they are killing us. I just want my peace of mind in this country. Peace for everyone.

Could it be they don't know the right thing to do? Then the essense of this thread is to state how we feel they could go about the debt issue and set us free once and for all.

The point again, we must continue to talk until they are able to reason with us. Nigeria belongs to all of us and not just a group of people that are gathering in Aso Rock.

http://www.elendureports.com/index.php?option=com_content&task=view&id=155&Itemid=33

Folks at Elendu have done a bit of scouting for answers. Just read the report from Jonathan. The findings have shown that no one really know what our leaders are up to about this ''debt relief'' thing. Personally, I do not believe in this ''debt relief by sympathy'' from our creditors. And even if we're relieved of this debt, I think it will be a Greek Gift of a sort. And future generations will pay dearly for it.

The whole scenario reminds me of the early slave trade era, where the so-called influential and greedy blacks, traps their kinsmen and sells them to the white folks for gin and mirrors. I will not be surprised to know in future that we are being sold by Okonjo and OBJ as 21st century slaves to our creditors.