Ovamboland:


Thank him for delaying projects that would have made goods clearing cheaper and faster, food transport cheaper from producing to consuming areas, and Nigeria exports cheaper and in higher demand on the world market

everything you listed above, tell me which has come to fruition since 2015/2019 wey them do dey collect loan

Ovamboland:


That's why he has sense, he's a producer not a consuming parasite who cant understand policies and investments that will aid productivity and create jobs.

producer?? We are over 250millions in Nigeria, how many millions can he feed?? U said POLICY?? Do u know that dangote and BUA can import anything dey want in this country ??

thatigboman1:
nna gi zombie

Nne gi oyanra
O tun Nnegi

Wahala no go ever end��

Exceed15:
By bye Nigeria

Bye bye common sense

ello29:
Someone leaving office in 2023 is borrowing. Next will be to blame the previous government and ordinary citizens of their failure

Is he not paying back the $63bn debt he met in ground since 2015? So he should have called past leaders to come and pay it?

MalaikaEH:
The approval simply means more inflation,
more increase in foreign exchange rate,
more suffering for common people,
and
more bandits and kidnappers just because the good Nigerians can't cope anymore.

That's exactly how dull, docile people will think , innovative people are thinking of the impact such investments by govt will influence their business expansion plans such as industrial estates, transport hubs etc.

redcliff:


what is the other projects?

Lagos Ibadan expressway
Abuja Metro
Second Niger bridge
AFAM 4 fast power 250MW
Zungeru Dam 700MW
Kismambila Dam 40MW
Siemens power deal $3.5bn
Abuja-Kaduna-Kano expressway
Bonny deep seaport linked to rehabilitation of Port Harcourt- Maiduguri railway
Enugu port Harcourt expressway
Bonny-Bodo road 120bn linking Bonny island to rest of Rivers first time in world history.
Powering educational institutions, and markets ABU, Unizik, Sura Ariaria

aryzgreat:
God help me to enter Canada soon.

The next president president come 2023 will be incapacitated cos this evil bastard would have left a debt that all our revenues will go into servicing.

APC is devilish

Running away from $100bn debt to go and carry burden of $2.5 trillion debt?

You don't know what is pursuing you

Escobar7:


I think your reasoning of these issues is misguided. Even the United States and Britain open borders for TRADE, made in Nigeria and all Executive cars are still imported despite having local producers. The average Nigerian whose salaries is a pitance cannot bear the cost of increase in prices of amenities. Economics of scale helps us understand the possibility of reduced cost and higher production. In Nigeria, prices soar not even arithmetically but geometrically. And we have price regulatory bodies of govt to tackle this, but again,this is Nigeria. How much was foreign rice when importation was banned, 18k. l bought too. Now local rice is 24k and foreign 32, how has the policy favoured the average Nigerian.
Pls l enjoy all your comments in the place, shows me all hope is not lost for this country. But pls understand the terrain, your terrain, govt policies are not helping the masses.

Importation of rice was never banned, land border restriction was only to control smuggling which avoids lawful duties.
You can import all the rice you want through the seaport and pay your duties

Ovamboland:


What of a household that takes a house mortgage instead of paying rent forever?

It is better taking house mortgage than buying groceries and other stuffs in debt. But each other way there is no peace to anyone living in debt, because a borrower is always servant to the lender

Evolutionlove:


Walahi I don't think I've ever laughed this hard this year. You cracked me up big time.....

Hahahaha, this your meme no be here

aremuforlife:

It will be very difficult for you to succeed as an entrepreneur, even the great Dangote, Adenuga, Otedola borrows.
It is only if you are not credit worthy, but if you are.

That's a different aspect u talking about, if it's that there's no problem from borrowing to fund a business idea or a national projects that will benefit a Country, one should know what he's doing, and I mean know how to manage d business run it effective and efficient do your assignment do your aggregate estimation, and believe the thing u are investing in is going to yield in profit atleast 95% sure, one should put all this things into consideration before taking a loan, not borrowing and spending it on things that won't make returns, lasa Las we already know the loan is ending in their pockets, or 10% of the loan will go to the project and 99% to their pockets.

Habib101:

That's a different aspect u talking about, if it's that there's no problem from borrowing to fund a business idea or a national projects that will benefit a Country, one should know what he's doing, and I mean know how to manage d business run it effective and efficient do your assignment do your aggregate estimation, and believe the thing u are investing in is going to yield in profit atleast 95% sure, one should put all this things into consideration before taking a loan, not borrowing and spending it on things that won't make returns, lasa Las we already know the loan is ending in their pockets, or 10% of the loan will go to the project and 99% to their pockets.

The present leaders have show different dimensions, the loans are attached to infrastructures, list if the loans are not in cash but in infrastructures, which you can attest to it, I mean physically and not some 3d project.

Ovamboland:


That's exactly how dull, docile people will think , innovative people are thinking of the impact such investments by govt will influence their business expansion plans such as industrial estates, transport hubs etc.

This thread is discussing LOAN not govt INVESTMENT. We all know where previous govt loans landed us. It's only a big fool who thinks that doing the same thing the same way will produce a different result. Every lender sets their terms and conditions. Nigeria is poorer From continuous borrowing because the leaders don't read those conditions.

Ovamboland:


That's exactly how dull, docile people will think , innovative people are thinking of the impact such investments by govt will influence their business expansion plans such as industrial estates, transport hubs etc.

Don’t mind that Mumu.

aremuforlife:

The present leaders have show different dimensions, the loans are attached to infrastructures, list if the loans are not in cash but in infrastructures, which you can attest to it, I mean physically and not some 3d project.

Still the same thing infrastructure or projects,the thing here is this tenure has done much borrowing and signings but less action, weather is infrastructure or otherwise

jrusky:
These is getting too.much for God sake. Nigerian what is going on?

If I'm not mistaking Ngeria total debt should be in total of $500billion or more and this man still has more than 2 years more in power possibly by the time he leave office we should be talking around over a $1trillion debt at the pace things is going.

Na who cursed this country for God sake? Pls I ask again is this buhari I'm seen truly a Nigeria or our real Buhri?

God why

This shows a lot of people making noise here are bereft of facts and knowledge of the issues on ground. They just feel everyone is complaining and should join in.
$500bn??
If our debt is that high $16bn would be child's play. Our loans per tranche would be in region of $50-100bn. Like UK got loans of £550bn in Covid year alone, which is almost 15 times our total debt. I doubt Nigeria got loans up to $20bn in covid year without which the country would have collapsed. But ignorant people shouted the loan should not be collected.

Our gross public debt domestic and foreign as at 2021 is around $100bn, it was $63bn as at June 2015

MalaikaEH:


This thread is discussing LOAN not govt INVESTMENT. We all know where previous govt loans landed us. It's only a big fool who thinks that doing the same thing the same way will produce a different result. Every lender sets their terms and conditions. Nigeria is poorer From continuous borrowing because the leaders don't read those conditions.

The loans are mainly for investment in infrastructure. We need to invest $100b every year in infrastrcture alone for the next 10 years. Total earning of Nigeria govt is not up to $25bn, out of which they cant spare more than $5bn for infrastructure and maintenance. Where do you get part of the shortfall?
Those things to be built are things that will attract foreign and local investors to also raise loans to invest in business to create jobs.

If you are waiting for foreign investors to come and fix infrastructure for us just know that no foreign investor will go and invest in country where the govt and people don't have enough faith in it's viability to go as far as raise loans to invest in.

Maybe you can share your idea on how to raise reasonable funds to start fixing our infrastructure gap

Deciceco01:


It is better taking house mortgage than buying groceries and other stuffs in debt. But each other way there is no peace to anyone living in debt, because a borrower is always servant to the lender

Are we collecting the $16b to import rice and milk? Or else what's the analogy with groceries.

Have we not seen the $1.6b loan of 2017 turning to a dual track SGR of 300km total. With a station behind my house, I wish for more parts of the country to have this service

Ovamboland:


This shows a lot of people making noise here are bereft of facts and knowledge of the issues on ground. They just feel everyone is complaining and should join in.
$500bn??
If our debt is that high $16bn would be child's play. Our loans per tranche would be in region of $50-100bn. Like UK got loans of £550bn in Covid year alone, which is almost 15 times our total debt. I doubt Nigeria got loans up to $20bn in covid year without which the country would have collapsed. But ignorant people shouted the loan should not be collected.

Our gross public debt domestic and foreign as at 2021 is around $100bn, it was $63bn as at June 2015

Very interesting and what you said sound cool yo your hear bah? So because Britain go $500billion so your buhari should follow that line too, Just hear yourself? Only this year alone loan is almost that $100billion if this $16billionis added so go back to 2015 till date draw up your figure herethen you will see the deadly path apc has taken in poorly managed economy like Nigeria.

Bro stop defending what wil ends up consuming this country pls stop this I not about party or emotion about soul saving.

Ovamboland:


Are we collecting the $16b to import rice and milk? Or else what's the analogy with groceries.

Have we not seen the $1.6b loan of 2017 turning to a dual track SGR of 300km total. With a station behind my house, I wish for more parts of the country to have this service

My brother, one of the reason for collecting the loan is to finance the budget and the last time I checked even the food the presidency eat is in the budget including his foreign medical bills not only for infrastructurial reasons you are claiming. And mind you, my major point is to inform the reasonable public that, to live your life always in debt is a great slavery to the lender. A borrower is always servant to the lender, period!

nairaman66:


You just went on a ranting spree and didn’t say anything! Is this the first time Buhari is borrowing? What happened to the funds borrowed before? So Nigeria is on a borrowing spree with nothing to show for?


I don’t understand how some people reason. Shame on your reasoning capacity!

As far as I know most of the loans tied to specific projects have been delivered or are ongoing. Already starting from 2017, the $500m loan collected by Jonathan in 2010 for Abuja-Kaduna railway has been repaid to the tune of almost $200m.

If there are specific loans that Buhari has collected that you know has been stolen or diverted or not used for stated purpose, can share the details here? Or else you're building your case on assumption without evidence.

The projects completed gives me enough confidence to trust this additional loans tied to legacy projects will be delivered

Deciceco01:


My brother, one of the reason for collecting the loan is to finance the budget and the last time I checked even the food the presidency eat is in the budget including his foreign medical bills not only for infrastructurial reasons you are claiming. And mind you, my major point is to inform the reasonable public that, to live your life always in debt is a great slavery to the lender. A borrower is always servant to the lender, period!

To whom is USA with $20 trillion debt a slave? There's almost no country in the world without public debt, who is their slave master. Millions of people take house mortgages or finance their car or business, are they all slaves therefore?

If you take a loan to meet some expenses, does it mean you must not buy food or pay medical expenses anymore?

dvkot:
I just pity PDP in 2023 because they will have huge debt to pay back

PDP left $63bn debt, collapsed infrastructure and depleted revenue profile for APC In 2015, no bi today

southniyikaye:
the world is changing, in what way has this government support that change?
What investment have they put in place (technology wise) to curtail the inflow of importation?
Abi because u dey produce rice, the chemicals used in farming, is it manufactured in Nigeria?
If una Wan talk, make una dey talk well o

One step at a time, you too can go and produce the chemicals and sell to farmers now that rice is grown locally. People producing have only one head like you, and government makes policies for innovative people to key in, people who only complain are in abundance

Habib101:

Deep talk my brother, that's why me personally I don't like borrowing no matter the situation except for something serious and I must make sure I will be expecting money before taking the loan and no be big loan we dey talk about na small change like 1k to 2k some thing that has to do with hungry or sickness I can borrow and for me to do that that means money is coming but don't have it at the moment

That's why you may remain small for life. Do you know the billions in debt held by Dangote, Otedola, Elumelu etc. That's why the most indebted countries are also with the highest debt.
There's no very poor country with big debt in the world.

MPESA:


You no go see better for life for this useless thing you wrote.... mortgaging the future generations and taxing the poor for the loan they took to embezzled...
Y'all this useless and parasitic Northerners that thinks like a cows,your days are NUMBERED.

P.s
Moderator kindly come and ban me jare .. I can't withstand all this nonsense.

You are ignorant of how countries function, is tax only for the poor? What of the billionaires who make away with millions of dollars in taxes depriving the same poor you claim to defend of services they should have

InoGetJoy:

I'm sorry for my comment, I'm just annoyed that you're supporting this atrocity. You and I know this fund they're borrowing will get stolen. These people are mortgaging your future and mine while their own kids are enjoying abroad and it pains me.
Once again, I apologize

Like the funds for Lagos Ibadan railway we are riding today also got stolen? Or Itakpe Warri rail or ongoing second Niger bridge, Lagos Ibadan expressway expansion also get stolen?
Will you rather the incoming generation meet potholes instead of roads or zero railway that will cost many times today's prices to construct in the coming decades?
It's a pity you people can't see any big picture beyond what you can eat in your tummy today.

Ovamboland:


To whom is USA with $20 trillion debt a slave? There's almost no country in the world without public debt, who is their slave master. Millions of people take house mortgages or finance their car or business, are they all slaves therefore?

If you take a loan to meet some expenses, does it mean you must not buy food or pay medical expenses anymore?

My brother stop comparing US and Nigeria, because what US is generating in terms of technology alone is enough but considering our dear nation Nigeria what are advance at except for corruption and total insecurities up to the point where our NDA is not safe. The same money we borrow is the same we will loot.

Ray07:
But you can see, touch, feel what the used theirs for.

Wetin your own government the use their own for . . . ? Oh! I forgot, them wan use am built rail for another man country while their own people the suffer boot up and down.

All these can be felt and touched too and we have not borrowed trillions of dollars to get them, and they are not In another country.

We still need more of these to jump start the non-oil economy we've been paying lip service to for past decades.

Ovamboland:


As far as I know most of the loans tied to specific projects have been delivered or are ongoing. Already starting from 2017, the $500m loan collected by Jonathan in 2010 for Abuja-Kaduna railway has been repaid to the tune of almost $200m.

If there are specific loans that Buhari has collected that you know has been stolen or diverted or not used for stated purpose, can share the details here? Or else you're building your case on assumption without evidence.

The projects completed gives me enough confidence to trust this additional loans tied to legacy projects will be delivered

We have more than 200M Nigerians and your opinion supersede them?

Majority of Nigerians are complaining about Buhari’s anti people policies are they wrong?