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Nairaland Forum / Nairaland / General / Politics / Senate Approves Buhari’s $5.5 Billion Foreign Loan Request (9179 Views)
Lawan: We Passed Buhari’s $5.5 Billion Loan Request To Save 20 Million Jobs / Senate Approves Buhari’s Request To Raise Fresh N850bn Loan / Nigeria’s New $6.9 Billion Foreign Loan Application – A Case Of Necessary Evil? (2) (3) (4)
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Ayanko(m): 12:47pm On Nov 14, 2017 |
The next thing you hear is that Buhari is travelling to London for treatment. |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Nobody: 12:50pm On Nov 14, 2017 |
three: I have outlined an alternative in my previous post....which is essentially an austerity govt that is also hard on corruption. Of course, this govt, nor the opposition, nor many Nigerians think it is a good idea. |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Cjrane2: 12:53pm On Nov 14, 2017 |
Just piling on debts for the next generation. Yet they won't have oil or other resources we have today to help them pay these debts. A truly wicked generation we have today. 1 Like |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Mak4web(m): 12:56pm On Nov 14, 2017 |
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Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by proeast(m): 12:56pm On Nov 14, 2017 |
Badonasty:I just dey wonder when all these debts will be paid. 1 Like |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by GavelSlam: 12:57pm On Nov 14, 2017 |
princetom1: How would you know how it always ends when this government has only been in power for 2 years? |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Nobody: 12:57pm On Nov 14, 2017 |
bishopkay: We got out of that debt cycle in 2006 at a high price...OBJ paid 67% of the debt...which most people criticized by the way. IBB's leadership was inept...but the reason why we got into debts then was because of the jamboree spending during the 1973-82 OIL Boom...so not entirely his fault. The problem with our economy is that it is heavily resource dependent...meaning that we rely heavily on importation using the revenue that we earn from selling raw materials on the international market. Once prices fall...things get hard fast.And thanks to over-importation, our manufacturing sector...cannot create jobs....which is why Nigeria has a chronic unemployment problem. 1 Like 1 Share |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Nobody: 1:03pm On Nov 14, 2017 |
Cjrane2: You have a better idea? When folks like moi were angrily blaming the last govt for not saving for a rainy day, you people told us to keep our mouths shut. Part of the problem is that the last govt did not take advantage of the last oil price increases to 1.save massively 2.save massively 3. thoroughly remove subsidies at all levels.(The last govt and the one before it also tok loans too) It is a mistake we keep making....and one this govt is bound to repeat now oil is on the upswing....saving only when things get hard. If you want us to stop taking loans....vote in a govt whose agenda would be taking us off oil and other resource dependency in 2019. 1 Like 1 Share |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by bishopkay: 1:11pm On Nov 14, 2017 |
9jakohai:I understand man that's why concerned people like us would always speak out whether they call us wailers or not! Today I saw a report this government has expended 3b dollars on oil exploration which by the way hasn't brought any tangible results, Someone stocked a home with millions of dollars which was "recovered", our very own NNPC gave out contracts to the tune of 26Billion dollars without due process and many other instances which abound. So I ask what exactly is this loan for because apparently, we don't need it |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Nobody: 1:21pm On Nov 14, 2017 |
bishopkay: Because Nigeria needs oil to be at $120 per barrel to balance the books...and right now it is at $60. In other words, for every barrel of oil we spend , we make a loss of $60 dollars compared to 2013..when oil was above $120 per barrel (Russia needs it at $99, Saudi at $70 per barrel for the same purposes) As most of the money we recovered is still the subject of court cases, we can't use it. |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Omeokachie: 1:31pm On Nov 14, 2017 |
Money to finance 2019 election. |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by diegwu01: 1:35pm On Nov 14, 2017 |
The reason i like this present Senate is; While the may have some diffrences with the Executives at times, they know when to put Politics aside and allow common sense prevail for the Good of the Nation. Kudos to the Senate. |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by princetom1(m): 1:44pm On Nov 14, 2017 |
GavelSlam: As if u have been living in spec for the past 2 years plus. U better wake up to reality |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by gurunlocker: 1:58pm On Nov 14, 2017 |
GavelSlam: They have something to show for it. Top notch infrastructure, good health care, workers welfare etc, opposite is all these in Nigeria. Build road and that road won't last 3 years. Still the loan is the fund 2017 budget, we are in November 2017 and 2018 budget has already been passed also. That means they will still have to borrow to fund 2018 budget..... Is that not failure? |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Iranoladun(f): 2:01pm On Nov 14, 2017 |
9jakohai: The Alternative is to plug the revenue leakages, reduce cost of governance, dissolve and scrap unnecesary boards, ministries, parastatals, civil servants and elephant projects. If the savings are not enough for our needs then we may borrow 1 Like 1 Share |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by loomer: 2:18pm On Nov 14, 2017 |
Make Una continue to approve money wey Una go dey share. I no know why North Korea never point their missile to Nigeria |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by lacidi: 2:21pm On Nov 14, 2017 |
Spylord48:"It's" not "Is". "utilize" not "utilized" 1 Like 1 Share |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Spylord48: 2:23pm On Nov 14, 2017 |
lacidi:Thanks for the correction |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by StankovicEgeni(m): 2:23pm On Nov 14, 2017 |
In 2016, PMB made external borrowings from China to the tune of $7.5 bn .Barely two years after , he seeks to borrow the sum of $5.5 bn and each year we , from our budget , service debts of over one trillion naira. 2018 debt service has already been estimated at 2.014 trillion naira . The financial counsellor and director , Monetary and Capital Markets Department of the IMF , Tobias Andrian has warned that greater reliance on foreign borrowing may at some point become a vulnerability to the economy of Nigeria . PMB claims that part of the money will be used to service the 2018 budget which forces me to interrogate his argument . Does that mean we'd need yearly external borrowing to fund our yearly budget !? Will his moves wrest the nation from the grip of recession because as far as Nigerians are concerned , the country is out of recession in the front pages of the dailies . |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by AishaBuhari: 2:32pm On Nov 14, 2017 |
GavelSlam: GavelSlam:Sadly, Your village people have taken full control of your brain...
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Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Ovamboland(m): 2:49pm On Nov 14, 2017 |
9jakohai: It's either we stop paying salaries and other recurrent cost of running government in order to invest in infrastructure. We cannot wean a country dependent on a single resource, Crude for the past 40 years within 2 or 4 years |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by macaphan007(m): 3:01pm On Nov 14, 2017 |
9jakohai:what about having a robust economic plan that involves the private sector,having good economic policies that will encourage FDI,we don't have to borrow so much at this time,when there's nothing to show for it,can't we have a Concession,BOT are PPP plan with proven Foreign investors to take over our rail systems, power plants etc,but because the consultants want to collect facilitators fee,the Ministers will collect kicks backs from awarding the contracts to his cronies,we have to borrow,a major chunk of these money will end up in private hands,a BOT structure can be agreed with Julius Berger and the RCC for the Lagos Ibadan express way for a period of 30 years with a considerable toll charge,same can go for other major projects in power etc,why put the country under so much pressure when there are so many options,create a good environment for foreign investment and watch Nigeria grow,we have the population,especially the youths,Nigeria will always be an investors Haven, but good economic policies is obviously lacking in this country. |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by abiodunab: 4:00pm On Nov 14, 2017 |
I pray this country won't be bought someday cos the level of borrowing is becoming too much yet we don't feel the impact of the money borrow in the economy |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Agentsmith002: 4:54pm On Nov 14, 2017 |
GavelSlam:. look at them. the real enemies of Nigeria.those who have sworn never to allow us move forward in this dungeon called Nigeria they are in this order; Gavelslam Ngeneukwuenu Sarrki and other Yoruba Muslims that i cant mention now |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by GavelSlam: 5:00pm On Nov 14, 2017 |
Agentsmith002: This one is looking for attention. |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Agentsmith002: 5:03pm On Nov 14, 2017 |
GavelSlam:. who needs an attention of a head slamming and gutter water drinker like you eddiot chukwu kpoo gi na ezi na ulo gi oku anumanu
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Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by billyG(m): 5:16pm On Nov 14, 2017 |
9jakohai:it is a blackman thing which blackman or african kuntry get good ideas?this yur soln hash ooo!it will turn us all 2 skeleton d solution is 2 cut down on unnecessary imports thereby reducing d demand of $$,export more processed agric products to earn more dollars.agric sector shld b gvn d highest priority if we really want to creat jobs. |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by nkemjacob2(m): 6:35pm On Nov 14, 2017 |
Lazy senators |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by CioAngels(f): 8:04pm On Nov 14, 2017 |
Saraki, how much did you bargain to be given to senators for you to approve? Or, you used the approval to coverup your previous loot? BIG Shame to you SARAKI. |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Cooly100: 8:10pm On Nov 14, 2017 |
Since Ohaneze and the governors are against pressure groups from the SE. They should be stoned, pelted with eggs, and even send them to he**... if the federal government fails to spend part of the loan in the region... |
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