Thank God Our amnesty money go come in one piece...

all these monies that goverment is borowing here and there.. One day we might wake up to hear that dis country has been sold

yesloaded:

I will only take you serious if naija be like USA.

Aso Rock hospital no get common paracetamol, hehehe

The average American doesn't reason like the average Nigerian. That's your answer.

jericco1:
Nigerians should brace themselves for heavy taxing because that's what the government have promised the IMF of doing. It's a complete disaster


One percent interest is a whopping $34m.. this is the most senseless government in modern history, they keep on bragging about revenues generated from multiple agencies and parastatals yet one cannot fathom why they keep on borrowing and without providing a favourable repay strategy. Well I know for sure that this money is going into the pockets of few individuals.

Senseless for borrowing at 1%? How many lenders lend to you at 1%?

The reason for borrowing is simple enough for anyone who genuinely wants to know. Revenue/income has been low due to lower oil price and oil sales volume. Countries (and even individuals) borrow when there's a deficit. The corona virus driven economic meltdown will hit Nigeria terribly around July/August when there would be zero oil revenue. Borrowing to stay afloat is inevitable!

Does this country still has a future so?

$3.4b at 1% ... Good lord ...

See Business and Billionaires everywhere .... Chaiii ... CBN GOV yaff made money because the profit from this loan will not go into Nigerian pulse no matter IMF scrutiny .....

Na to reinvest the money @10% .... Settle IMF 1percent ... pocket 9% .... Sweet Dollars ...

No matter what IMF do, I trust my country people ... Accountant General, Minister of Finance , CBN Gov and Presidency go chop from reinvestment of this loan.... At all at all !!

See as buhari (a.k.a Sinzu money) just dey cash out on a daily basis...

Part of Abacha loot of $312m enter two days ago , another $3.4bn don enter today again.

Na buhari this Covid-19 pandemic favour pass.

Golan007:


Name the government official that claimed it to be a grant.

By the way, all countries are borrowing and all countries have had their future generations pay debt.

The whinging is worn out.

And you don't see anything bad about incurring liabilities for your unborn generations?

Golan007:


Name the government official that claimed it to be a grant.

By the way, all countries are borrowing and all countries have had their future generations pay debt.

The whinging is worn out.

What has Nigeria done with all the money it has borrowed? Buhari government has borrowed $26 billion since 2015, do you see $26 billion worth of infrastructure in Nigeria today. The refineries are still not working so we will spend a large chunk of that loan on imported oil.

[color=#] 516876[/color]

Why do we keep borrowing as a country and knowing fully well that it's borrowed money, it can't still be efficiently used.......?
It still ends up in some people's pockets......why are we doing this to our nation?

Ade3131:


And you don't see anything bad about incurring liabilities for your unborn generations?

Actually, I don't see anything wrong in a universal mechanism.

We all act as if America isn't adding an additional 4 trillion dollars to its debt burden but go into a frenzy over a mere 3.5 billion dollars for a country of 180 million people.

All we need to do is be more inventive, roll up our sleeves and work.

The rest of the world is advanced because they seek solutions but we are in a funk of constant whinging expecting some kind of supernatural transformation.

Abeg.

dipoolowoo:

By Adedapo Adesanya

Nigeria has received the $3.4 billion emergency loan from the International Monetary Fund (IMF).

IMF Managing Director, Ms Kristalina Georgieva, confirmed to CNBC Africa in an interview that the $3.4 billion loan had been credited to the account of the Central Bank of Nigeria (CBN).

The funds had been approved under the Rapid Financing Instrument by the Executive Board of the IMF on April 28, ‎to address challenges arising from the economic impact of the COVID -19 pandemic the country.

Ms Georgieva also called on the Federal Government of Nigeria to be transparent and account for every single kobo of the fund.

‎The federal government had assured that it will publicise all disbursements from the funds, adding that there are plans to conduct an independent audit of all emergency expenditure at the end of the pandemic.

The Nigerian government also agreed to allow the IMF to conduct a due diligence exercise on the CBN, these will be done in line with the Fund’s safeguards assessment ‎program.

According to the IMF chief, the money was sent to the CBN’s account in dollars, after which it would be converted to naira.

“We have already disbursed. In emergency assistance, the board approves, we disburse within days to the country and it goes to their central bank in dollars before it gets converted into naira in the case of Nigeria.

“The conditions are quite favourable and repayment period is five years, up to two and half years is grace period and the interest on the loan is one percent,” she said.

Ms Georgieva assured that the IMF will continue to support Nigeria and other member countries.

“We have put in place policy tracking action, and we are seeing progress each country is making.

“The IMF will continue to support countries and shield them from catastrophic implications of the COVID-19 crisis,” she added.

https://businesspost.ng/economy/imf-credits-cbns-account-with-3-4bn-emergency-loan/

That's is in addition to $311m from America..
Nigeria as a Nation is programmed to remain backward forever.

obailala:
Senseless for borrowing at 1%? How many lenders lend to you at 1%?

The reason for borrowing is simple enough for anyone who genuinely wants to know. Revenue/income has been low due to lower oil price and oil sales volume. Countries (and even individuals) borrow when there's a deficit. The corona virus driven economic meltdown will hit Nigeria terribly around July/August when there would be zero oil revenue. Borrowing to stay afloat is inevitable!

professor what about the many monies these evil government has been borrowing.. help us detail it

So what's the plans to repay


What provision has FG put in place to pay back this Loan ?

All my ancestors just puked in their graves.

Golan007:


Name the government official that claimed it to be a grant.

By the way, all countries are borrowing and all countries have had their future generations pay debt.

The whinging is worn out.

The whining will continue as long as there is little or no transparency. Where are the whistleblower dollars? Where are all the recovered loots? Who will give account of Covid billions? After sharing palliative billions, why are infected people in Gombe protesting that they cant even get panadol for headache!

Did you see how detailed the US intervention was? Every dollar was accounted for and the information is there in the public space.

Pls we will like to know our account balance

yesloaded:


Use your head bro except there's nothing up there

Biko no quote me again, I just checked your profile n realized you are one of them

Face your job ok

who are they?
Newly recruited Zombies

sulaak:


What has Nigeria done with all the money it has borrowed, Buhari government has borrowed $26 billion since 2015, do you see $26 billion worth of infrastructure in Nigeria today. The refineries are still not working so we will spend a large chunk of that loan on imported oil.

Please provide links to figures being bandied.

Nigeria's debt described:

Debt Management Office records show Nigeria owed N12.1 trillion in June 2015, a month after Buhari took office. This was US$63.8 billion at the exchange rate of the time. By June 2018 total public debt had risen to N22.4 trillion, or $73.2 billion.

https://africacheck.org/reports/has-buharis-government-plunged-nigeria-into-80-billion-in-debt/

In other words, Nigeria had borrowed less than 10 billion dollars under Buhari.

You cannot blame him for the debt of others.

This loan has already been shared, looted and ferried to loot havens abroad. By the time Nigeria is paying back this loan this current government will be in their retired homes abroad, enjoying their loot.

The only sustainable solution is for the economics of debit and credit be disbanded and the world will cease to owe the elusive creditors that have been holding the people to ransom for centuries.

Only the essentials should matter now, and it will mean that the government of every nation should continue to print money to give to people to buy what they need to survive, and only those that provide the essential will be paid to keep production going.

Nobody should owe nobody until the storm passes, after all, we are the world and we are all in it together. This nightmare could change the dynamics of the economy forever if foolish "man" will ever learn to understand what's really important.

Trailblazer1:
Nigeria should not only borrow money, we should also be allowed to borrow other things like PRESIDENTS

Trailblazer1:
Nigeria should not only borrow money, we should also be allowed to borrow other things like PRESIDENTS

Yeh

This IMF is the problem of Nigeria. They saw Buhari begging so that loan can be lifted and they are still giving him more. A man that cannot account for anything should not be giving anything as well

PigTormentor:


The average American doesn't reason like the average Nigerian. That's your answer.

Y I go dey argue with person wey dey torment pig

Golan007:


I checked your profile and realised, oh no not another one of them.

Face your tears.

Skeletun skeletun skeletun

Golan007:


Name the government official that claimed it to be a grant.

By the way, all countries are borrowing and all countries have had their future generations pay debt.

The whinging is worn out.

your name is Racoon, but it should be bofoon. How can you be in support of something your generation can never benefit from, but will pay the consequences? Ode oloriburuku ole oshi

neyorlmogzy:
your name is Racoon, but it should be bofoon. How can you be in support of something your generation can never benefit from, but will pay the consequences? Ode oloriburuku ole oshi

Hahahaha.

Racoon dem dey talk to you.

verifiedlegacy:


professor what about the many monies these evil government has been borrowing.. help us detail it

Am I government? Direct your question to the right quarters.

But then again, the little I know I will say. Since 2015, govt revenue barely just meets recurrent expenditure (salaries etc) and services old debts. Since 2015, there's been budget deficits every single year due to low oil revenue, so every single road that's been patched or built since 2015 and every single bridge that's been built is from borrowed money. The railways that have been completed and the ones still under construction too are all from borrowed funds. Every single place you see a tractor or bulldoser by the roadside doing any 'capital' project, it's from borrowed funds.

[color=#] 916310[/color]