The Minister of Works and Housing, Babatunde Fashola, has taken a swipe at those who condemned the rate of borrowing by the Federal Government, describing them as “backyard economists.”

In his keynote address at the Lagos Business School on how government policy affects business and society in national development, which was made available to our correspondent in Abuja on Tuesday, Fashola said those finding faults with government’s rate of borrowing were largely unsuccessful individuals.

He said, “Today, the government is constructing roads in every state of Nigeria and while revenues are a challenge to prompt completion. Some ‘experts’ who have not successfully shown they can run a small business moan the loudest about Nigeria’s borrowing to fund infrastructure investment.

“A Nigerian, has borrowed billions of dollars to build a refinery, petrochemical plant, fertiliser plant and gas processing plant, yet some backyard economists complain that a country whose population is in the hundreds of millions is borrowing too much to fix rail, roads, ports (air and sea) and power.”

Gbam. Especially the children of hate from the other side. They will soon litter this space now

Believed Nigeria politicians at your own risk, what did you expect him to say because the money they borrow will be share among themselves they are like predators why Nigerian are preys .

Fashola na Frontyard economists nah, the best in the world.

Mr Frontyard economist has spoken

Coming from an idiot in a failed government who stated that any government who can't fix electricity in 6 months is a failure.

Fashola you are nothing but a failure because electricity has gone worst since you came in, even your dullard president is budgeting 46million to fuel generator.

Minister of darkness!!!

following

yes

Afamed:
Gbam. Especially the children of hate from the other side. They will soon litter this space now

So you want Nigeria to be as indebted as the South west?
Buhari has borrowed more than any president before him because he surrounded himself with serial borrowers.

Does that not alarm you?

Where are the the things u used the loans for

Afamed:
Gbam. Especially the children of hate from the other side. They will soon litter this space now

You reason like the front yard economist.
Please, the two scenarios he gave doesn't relate in anyway.

A Nigerian borrowed to build refinery, petrochemical and etc, are those not supposed to return investments?

Borrowing money to build roads, what is it going to bring in return? How do you intend to pay back the money?

This is coming from an unsuccessful minister of power after boasting to revive the sector within 6months.

Buhari have affected the brain of many that even professors will come and tell you how good it is to borrow.
maybe their fore father's will come and pay for the debts someday

magoo10:
This is coming from an unsuccessful minister of power after boasting to revive the sector within 6months.

Buhari have affected the brain of many that even professors will come and tell you how good it is to borrow.
maybe their fore father's will come and pay for the debts someday

if he actually said that,has it not confirmed why he has not been a successful minister , that his famed success as a governor was due to media propaganda which he heavily funded
Going by his logic, the world Bank and other reputable world financial institutions are back yard Economist,what qualifies him as an economist
He is just looking for ways to justify the borrowing which they will loot,what did they do with previous borrowing
The Government revenue streams can not support government unintelligent borrowing,thats the issue

toolovely:


You reason like the front yard economist.
Please, the two scenarios he gave doesn't relate in anyway.

A Nigerian borrowed to build refinery, petrochemical and etc, are those not supposed to return investments?

Borrowing money to build roads, what is it going to bring in return? How do you intend to pay back the money?

Yab, I expected People like you to come. Borrowing money to put up enough infrastructural development is what we need in Nigeria. When you have a good roads network, you have made it easy for people to transport their goods and services to the consumers in good time and in good shape.From there, Government generate income through taxes, i.e the more production , the more taxes you pay. Good roads also attract foreign investors. You also borrow to develop your rails, improve your industrial revolution.Borrow money to improve your ICT and also your electricity which will attract foreign investors. And at the end of the day, it improves the internal and external income of the Nation.
Perhaps you are not aware, as of today, America has borrowed upto $ 21.97trillion. They borrowed this, in order to improve on their ICT, more industrial revolutions . And other public services
Tell me, how do you intend to attract a foreign investors , when you have a dead trap roads here and there

surgical:
if he actually said that,has it not confirmed why he has not been a successful minister , that his famed success as a governor was due to media propaganda which he heavily funded
Going by his logic, the world Bank and other reputable world financial institutions are back yard Economist,what qualifies him as an economist
He is just looking for ways to justify the borrowing which they will loot,what did they do with previous borrowing
The Government revenue streams can not support government unintelligent borrowing,thats the issue

funny enough they will throw away the World Bank report stating the danger of Nigeria borrowing too much, they will even tell you it is being sponsored by the opposition just because they want to loot the borrowed funds.

toolovely:


You reason like the front yard economist.
Please, the two scenarios he gave doesn't relate in anyway.

A Nigerian borrowed to build refinery, petrochemical and etc, are those not supposed to return investments?

Borrowing money to build roads, what is it going to bring in return? How do you intend to pay back the money?

You deserve a kiss unfortunately you are a man and I am not a homo

How do this irresponsible government expect to pay back since our oil revenue is collapsing.?

Afamed:

Yab, I expected People like you to come. Borrowing money to put up enough infrastructural development is what we need in Nigeria. When you have a good roads network, you have made it easy for people to transport their goods and services to the consumers in good time and in good shape.From there, Government generate income through taxes, i.e the more production , the more taxes you pay. Good roads also attract foreign investors. You also borrow to develop your rails, improve your industrial revolution.Borrow money to improve your ICT and also your electricity which will attract foreign investors. And at the end of the day, it improves the internal and external income of the Nation.
Perhaps you are not aware, as of today, America has borrowed upto $ 21.97trillion. They borrowed this, in order to improve on their ICT, more industrial revolutions

The repayment which is expected to be in dollars, where do you expect government to get dollars to pay back now that oil dollar is disappearing from our national treasury.?

ConqueredWest:


The repayment which is expected to be in dollars, where do you expect government to get dollars to pay back now that oil dollar is disappearing from our national treasury.?

And should the Government abandon the roads because they are paying the Constitution companies in Dollar? Bearing in mind, no investors will invest in an environment where the roads are not motorable

Afamed:

And should the Government abandon the roads because they are paying the Constitution companies in Dollar?

Anything that can not give back the money borrowed, pls don't borrow.

ConqueredWest:



Anything that can not give back the money borrowed, pls don't borrow.

Fashola has said it all. It's unsuccessfully economists like you, giving advises. How do you attract investors into your country, when all you have are dead trap roads? Use your elementary analysis to arrive at this conclusion. A new layout housing estate at Awka, with good roads network and another new layout housing estate at Nnewi with no road network. Tell me the ones that will attract potential buyers and investors between the two housing estates. Most of you are just here to argue base on your hatred