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Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki - Politics - Nairaland

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Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by NwekeUG(m): 9:36pm On Dec 10, 2019
The ministers of Finance, Mrs. Zainab Ahmed; Works and Housing, Babatunde Fashola; Minister of State for Transport, Gbemisola Saraki as well as the Director-General, Debt Management Office (DMO), Patience Oniha, have justified borrowing by the federal government.

They argued that the government must borrow to meet the infrastructural needs of the people, stressing that such borrowing was inevitable.

They made the submission on Tuesday when they appearred before the House of Representatives Committee on Aids, Loans and Debt Management to defend the loan request of $22.718 billion presented to the Senate by President Muhammadu Buhari.

In her presentation, the Finance Minister, Zainab Ahmed, said there was an urgent need to fund the 2020 budget to improve infrastructural development and create jobs hence the decision to take the loan.

“We need to invest in roads, rails, and to be able to grow at a growth better than we are growing now. They are strictly for infrastructure development. So that we can address the deficit that we have. We know we must comply with some criteria. Mrs Ahmed allayed fears over the loan, saying that “Nigeria does not have a debt sustainability problem but revenue challenge.”
Every Kobo borrowed will be judiciously used.”

On his part, the Minister of Works and Housing, Babatunde Fashola said government cannot ignore the infrastructural development needs in the country which is the catalyst for the overall development of the country.

“It is right to have this hearing because we cannot ignore the concerns of the members of the public over the debt profile of the country. As we cannot ignore the concerns about debts, so we cannot ignore the concerns and demands for the provision of life sustaining infrastructure. “So, everybody wants a road, everybody wants a rail project, everybody wants a port and efficient airports. They want to ensure that our ports are efficient so that business can function more effectively, so that clearing of goods can happen more quickly and cheaply.

https://www.dailytrust.com.ng/why-we-cant-stop-borrowing-fashola-saraki-zainab-tell-reps.html

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Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by NwekeUG(m): 9:40pm On Dec 10, 2019
http://igberetvnews.com/1187979/cant-avoid-borrowing-fashola-zainab-saraki/

1 Like 1 Share

Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by Racoon(m): 9:55pm On Dec 10, 2019
Abeg who cursed Nigeria with these kind of leaders? Crooks united with a common purpose-to continue to borrow in order to loot.

Where are the monies allegedly said to have been generated by the FIRS(#5.8B)/custom EFCC/ICPC seizures, NNPC/NPA/TSA savings etc according to the APC govt?

52 Likes 4 Shares

Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by DonFreshmoney(m): 10:04pm On Dec 10, 2019
Keep borrowing until you borrow Nigeria out to foreign countries.

Our leaders are a picture of the larger society. Leaders that dont give a eff about the development impact of the country, they are there to line up their pockets withdtolen yams..

I spit on their bald head

22 Likes 4 Shares

Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by crownwealth: 5:55am On Dec 11, 2019
Criminals

4 Likes

Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by magoo10(m): 6:08am On Dec 11, 2019
Imagine a lawyer coming to defend the essence of borrowing under a comatose directionless economy .

The same fashola who boasted that he will transform the power sector within 6months.

57 Likes 1 Share

Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by ursullalinda(f): 6:09am On Dec 11, 2019
Where are the recovered loot?.....Where is revenue custom and co claim to make?.....even with the heavy borrowing no serious projects to show for it......clueless government

10 Likes

Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by Bukino222(m): 6:11am On Dec 11, 2019
Let's keep mortgaging the future of unborn Generations.

1 Like

Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by itsme01: 6:35am On Dec 11, 2019
cool



we cant develop without a long term borrowing plan

My Only concern is borrowed money should be managed and escrowed by world bank and only released to contractors that FG nominates, upon completion of the Infrastructural projects it was borrowed for


..

5 Likes

Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by excellence28: 6:37am On Dec 11, 2019
embarassed
Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by SoNature(m): 6:53am On Dec 11, 2019
If Nigeria can be borrowing this much now that the country can sell crude oil to make money, I wonder what becomes of the country when crude oil becomes worthless in the future.

With Tesla and other hi-tech automakers launching electric cars, there's a problem. Energy companies are investing and researching into renewal energy sources. To date, Nigeria cannot boast of any achievements despite trillions of petrodollars earned from decades of oil boom.

Anyone who tells you that Nigeria has a bright future is only deceiving you because this country is already the world's capital of poverty - even with enormous crude oil sales.

No doubt, the future generation will suffer more because we have not left anything significant on ground for them to build on.

21 Likes 2 Shares

Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by irepnaija4eva(m): 9:54am On Dec 11, 2019
They made the submission on Tuesday when they appearred before the House of Representatives Committee on Aids, Loans and Debt Management to defend the loan request of $22.718 billion presented to the Senate by President Muhammadu Buhari.






Haii.. May poverty and hardship visit everybody that voted this failure of a Government..

4 Likes

Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by BlessedNuel: 9:56am On Dec 11, 2019
Who did we offend in this country?

I mean... Who did this to us?

Which kind leaders do we have in this country?

Visionless Leaders undecided

If you need Pure Original HOney... Call or whatsapp 0"8'0'92'15'195"9 No matter what we will Survive in this country.....God's willing

3 Likes

Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by Authoreety: 9:56am On Dec 11, 2019
Next level with impunity
Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by gurunlocker: 9:56am On Dec 11, 2019
Just kuku sell the country.. grin



Years ago, these same people castigate previous administration for borrowing, including hell rufai.


But now, borrowing is allowed and can be justified since they are in power. grin grin


Borrowing is not the problem as you've already mortgage the country future, but are you using the money for the right thing and not dividing into percentage that will go into private pocket? angry

4 Likes

Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by mcbliss: 9:56am On Dec 11, 2019
Yh. Cuz y'll re thieves
Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by Kendumazy(m): 9:57am On Dec 11, 2019
Mheen! The amount FG is borrowing sef, our tenth generation will definitely meet the debt and they will tell them same story that servicing of previous debts like this one is the reason government don't have much to spend on any project.

8GB atm card flash drive for #1000 only. Nice gift for your clients this season. Moq is 12pcs. Check my signature below to contact me.

2 Likes 1 Share

Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by ybalogs(m): 9:57am On Dec 11, 2019
Borrow but we ain't seeing anything nah
Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by ybalogs(m): 9:57am On Dec 11, 2019
God is watching all of us
Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by Larryfest(m): 9:57am On Dec 11, 2019
Borrowing to loot again
Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by QueenAddyRealty: 9:58am On Dec 11, 2019
While it is true that we need to borrow to develop and become self-sustaining, we also need to make sure these monies being borrowed are utilized judiciously and conscientiously.

Nigeria has been borrowing for decades with very little tangible benefits from these loans. We borrow for projects and don’t complete said projects and then we go and borrow some more. Definitely not a sustainable model.


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3 Likes

Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by chriscrosss(m): 9:58am On Dec 11, 2019
Dont they read bible or Quran.. Borrowing is not pleased to God.. They call borrow as a thing of happiness after all the money realized everyday in Nigeria.. God save you people ...

2 Likes

Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by ybalogs(m): 9:59am On Dec 11, 2019
How I wish everything these guys does is in the interest of the masses. Unfortunately,I seriously doubt that.

2 Likes

Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by Finnese001: 10:00am On Dec 11, 2019
grin
Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by Daniel058(m): 10:00am On Dec 11, 2019
My people , Which way? , Change or next level? angry like For CHANGE
and SHARE for Next level
Re: Why We Can't Avoid Borrowing- Fashola, Zainab, Saraki by Reference(m): 10:01am On Dec 11, 2019
Racoon:
Abeg who cursed Nigeria with these kind of leaders? Crooks united with a common purpose-to continue to borrow in order to loot.

Where are the monies allegedly said to be generated by the FIRS(#5.8B), EFCC/ICPC seizures, NNPC/NPA/TSA savings etc according to the APC govt?

grin.... you be real racoon... where do you dig up these from...

1 Like

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