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Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. - Politics (4) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. (14243 Views)

Buhari Seeks Senate Approval To Borrow N2.10 Trn / Nigeria To Borrow $2Billion From World Bank - Okonjo-Iweala / Why Does A Country Needs To Borrow When She Can Easily Print More? (2) (3) (4)

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Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by nep2ra(m): 9:05am On May 18, 2012
I hate it when people say "God save us" or "God help us". It's totally irresponsible. As one preacher once said: "God gave you a brain so you can give him rest". Sorry to burst your bubble; God will only save you if you DECIDE to do something to save yourself. Until citizens of this country realize their political destiny lie in their hands and collectively RISE to do something then nothing will happen. Oh I forget, we are a siddon look nation.

2 Likes

Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by Parnassuss(m): 9:07am On May 18, 2012
The painful gut twisting, life wringing irony is that NOI was considered a hero because she ABSOLVED our external dept in 2005. Now 7 yrs later she is here replace what she took, so she had it on her person all this while...Nigeria...let me get to power first.
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by Delafruita(m): 9:12am On May 18, 2012
Beaf is probably conferring with abati on the best way to spin this.to those saying borrowing isnt the issue,it is an issue because we already owe over $45billion.obasanjo,despite all the corruption left us without debt,$55billion foreign reserve and $30billion in ECA,where has all the money gone?
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by yuzedo: 9:14am On May 18, 2012
Federal Republic of Nigeria
Owners of Government: PDP
Budget: Fiscal Deficit ($7.41b/2.85% of GDP)
Capital Expenditure %: 28.5
Recurrent Expenditure %: 71.5
(AND WE ARE BORROWING MORE TO FINANCE RECURRENT) cheesy cheesy

In the immortal words of Obasanjo (who negotiated our last debt cancellation) "I dey laff!" grin grin
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by greall1: 9:23am On May 18, 2012
We never hear any good News from dis FG at the end they will increase Fuel again to pay debt ye ye pple
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by sharpman1(m): 9:26am On May 18, 2012
Now i know........without an iota of doubt.......that Nigeria is BROKE!!!

No wonder they wanted to increase fuel price to fund their recklessness.
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by otokx(m): 9:30am On May 18, 2012
The average Nigerian is used to suffering and smiling so let them continue.
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by ballabriggs: 9:32am On May 18, 2012
What do you want them to do? The country is broke thanks to the m0r0n of a president. All these is thanks to the reckless looting which was put into his Presidential campaign. I laugh when I hear them say increasing energy prices is geared towards deregulation. While it might be partly, the main reason is to cut government spending thus reducing the interest rates on their debts.

1 Like

Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by Nobody: 9:36am On May 18, 2012
WE KEEP RUNNING AWAY FROM THE OBVIOUS TRUTH: NIGER-DELTA OIL ALONE CAN NOT SUSTAIN THIS GROWING POPULATION FOR EVER. LET THERE BE A BLUEPRINT FOR STATES TO GENERATE OTHER RESOURCES AND HELP THEMSELVES SO FEDERAL GOVERNMENT CAN USE TAXABLE RESOURCE FINANCES TO SOLVE INFRASTRUCTURAL PROBLEMS. I REPEAT, NIGER-DELTA OIL MONEY WILL NOT BE ENOUGH ANYMORE

1 Like

Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by Ibime(m): 9:41am On May 18, 2012
Where are those eediots who fought tooth and nail to defend GEJ's grossly corrupt and abysmal fiscal performance in Bayelsa?

Dem go bury head for sand like say them no see the thread.

No worry, una just dey start.

The dude has been 2 years in power now and this would be his umpteenth trip to the World Bank to ask for emergency loan even despite starting with a surplus.

Whilst Buhari who paid off Nigeria's debt in 18 months during the worst economic crisis this country has ever faced at (early 80's collapse of oil-market) is a "terrorist".

No worry, GEJ go continue to terrorize una belle. Fools!
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by gawk: 9:43am On May 18, 2012
1supremo:

Harvard Grad
Even in havard they give exception to nigeria situation in economics and business
in Harvard the refer to bribe in Nigeria has "facilitating the process"

Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by mekaboy(m): 9:50am On May 18, 2012
WE ALL KNOW WHAT CONDITIONS WILL FOLLOW THE LOAN, THE VALUE OF NAIRA WILL FALL AND DOLLAR AND POUNDS WILL RISE, LOOK AT WHAT IS HAPPENING IN GHANA NOW AS A RESULT OF SUCH LOANS, 1 DOLLAR IS ALMOST 190 IN GHANA. IMMEDIATELY AFTER THIS LOAN, I DONT KNOW WHAT THE PRICE OF A DOLLAR WILL BE IN NIGERIA.

WHAT IS WRONG WITH AFRICAN LEADERS? ITS TIME NIGERIANS RISE UP AGAINST THIS GOVT AND LET THEM KNOW THAT THE DECISIONS THEY TAKE AFFECT THE COMMON MAN, THEY CANT JUST WAKE UP AND GO BORROW MONEY AND SHARE AT THE EXPENSE OF THE CITIZENS.

WHAT ABOUT THOSE FOUND GUILTY IN THE SUBSIDY THEFT ? WHERE IS THE MONEY ?
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by Ozonna(m): 9:52am On May 18, 2012
NOI shouldn't be blamed. Like som1 earlier said, borrowing is not a crime. Developing countries still borrow.
Are we going to make judicious use of the money? I think we all know what will happen to it and it won't be NOI's fault.

However, I remember that the norm before NOI arrived was that the FG will be forced to withdraw money from Ex crude acct and Foreign reserve but it looks like she doesn't want to touch them. I also read that our foreign reserve increased (kindly correct me if I'm wrong)
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by Abagworo(m): 9:57am On May 18, 2012
Sometimes I wonder how Abacha managed to achieve and steal a lot without borrowing and with crude oil selling below 10 dollar per barrel and daily output of around 1.5million barrel.
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by mannyU: 9:59am On May 18, 2012
cyrexx: this Okonjo Iweala that gave our gullible president wrong advice on fuel subsidy. may her generations suffer the same predicaments as the victims of fuel subsidy. may her family suddenly become bankrupt and begin to borrow borrow the way she is advising nigeria to borrow now. may all her family never progress, the same way her policies are against progress of average nigerians, may she always know sorrow the same way they plunged average nigerian into sorrow with their self serving policies. may the accurate targetting thunder of Shango and Amadioha strike her and her family dead suddenly, since there is no earthly court to to convict her. by the power of all the Gods in in Africa.

All dese prayers(curses) 4 madam then which do u reserve or propose 4 Oga dummy. Who has d power to do n undo wiv a clear mind of his own 2 accept or reject advice but takes in every proposal like a Zombie.

Truly everyday gets worse wiv Gej in Aso vil. D boi is no gud 4 us @ all.
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by Ozonna(m): 10:02am On May 18, 2012
LeoMax: WE KEEP RUNNING AWAY FROM THE OBVIOUS TRUTH: NIGER-DELTA OIL ALONE CAN NOT SUSTAIN THIS GROWING POPULATION FOR EVER. LET THERE BE A BLUEPRINT FOR STATES TO GENERATE OTHER RESOURCES AND HELP THEMSELVES SO FEDERAL GOVERNMENT CAN USE TAXABLE RESOURCE FINANCES TO SOLVE INFRASTRUCTURAL PROBLEMS. I REPEAT, NIGER-DELTA OIL MONEY WILL NOT BE ENOUGH ANYMORE

Well said sir
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by Nobody: 10:04am On May 18, 2012
It was this same act of living in denial that is responsible for the problems in countries like Greece, Spain, Italy and Portugal. Excessive borrowing without correcting our spending habits will land us in trouble. It is up to us to demand that the government show us EXACTLY what "priority projects" they want to invest in, together with their individual cost estimates and time of completion.

If we leave these people to do what they like, they will rack up debt that our generation will not be able to pay, and then we will be forced to adopt painful "austerity measures" like Greece is currently doing.
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by peaceland(m): 10:04am On May 18, 2012
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Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by Abagworo(m): 10:08am On May 18, 2012
LeoMax: WE KEEP RUNNING AWAY FROM THE OBVIOUS TRUTH: NIGER-DELTA OIL ALONE CAN NOT SUSTAIN THIS GROWING POPULATION FOR EVER. LET THERE BE A BLUEPRINT FOR STATES TO GENERATE OTHER RESOURCES AND HELP THEMSELVES SO FEDERAL GOVERNMENT CAN USE TAXABLE RESOURCE FINANCES TO SOLVE INFRASTRUCTURAL PROBLEMS. I REPEAT, NIGER-DELTA OIL MONEY WILL NOT BE ENOUGH ANYMORE

What I've noticed about those that defend the actions of this clueless regime is the use of tribalism, sectionalism and religion to buttress their illogical reasoning.

2 Likes

Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by Arosa(m): 10:09am On May 18, 2012
LeoMax: WE KEEP RUNNING AWAY FROM THE OBVIOUS TRUTH: NIGER-DELTA OIL ALONE CAN NOT SUSTAIN THIS GROWING POPULATION FOR EVER. LET THERE BE A BLUEPRINT FOR STATES TO GENERATE OTHER RESOURCES AND HELP THEMSELVES SO FEDERAL GOVERNMENT CAN USE TAXABLE RESOURCE FINANCES TO SOLVE INFRASTRUCTURAL PROBLEMS. I REPEAT, NIGER-DELTA OIL MONEY WILL NOT BE ENOUGH ANYMORE

Your shouting is by default in vain, for nothing will change. The Nigerian government is daft. undecided
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by mannyU: 10:16am On May 18, 2012
D only fin Nigeria shuld borrow 4rm world bank,IMF,ADB,Islamic Bank or where ever is a brain 4 Gej cos It is now obvious dat dere is no such tin in his thick skull.
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by senbonzakurakageyoshi(m): 10:19am On May 18, 2012
Yes, we obviously don't want more borrowing, but, Nigerians, think of this. What if this borrowing story is just a ploy to get rid of the rest of the subsidy? Obviously, they know that Nigerians would not accept more borrowing so they float the borrowing story so Nigerians can reject it. Then they tell Nigerians that if they can't accept the borrowing plan that the only option is to remove the rest of the subsidy. Believe me, it's not beyond the Nigerian government, sometimes we don't give them enough credit for smartness. Don't be surprised if that's how things turn out.
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by Hoodrat(m): 10:24am On May 18, 2012
engineerd: And they will squander it all and enrich themselves.....Nigeria's future has already been mortgaged 10x over by these senseless baboons in power!
I'm waiting for the day all the Nigerian politicians actions will come home to roost. "Democracy" has been an extraordinary burden on the masses!
Please God send a Chariot of fire and consume these people! Nigerians are helpless!

God is not sending any chariot. The future of Nigeria is in your hand you have the power to fight for your right and your children. God will never come down to fight for Nigerians Nigerians need to fight for Nigeria. You Coward grin
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by Eazeee(m): 10:29am On May 18, 2012
jjjkkkooo: What happened to d N4.6 trillion that FIRS generates yearly.

its not a yearly generation my broda but rather wat was generated last year n FIRS is likely going 2 surpass last year performance because already dey hav surpass 2012 1st quater target. i keep asking d same question u just asked daily wit no answer. dats even aside wat NNPC,CUSTOM generates yearly but yet dey are claiming dia is no money even wen our budget is less dan wat one of dis agencies generates annualy. somtin is definately wrong somwhere.no wonder JESUS WEPT
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by manutayo(m): 10:30am On May 18, 2012
Is there no opposition parties in naija wot are they doing about this? where is the save nigeria group? Where are the students? Where is the labour and its civil societies ? have they joined the plot? La cést dangereux ca va chauffer!!!
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by richjohn1(m): 10:33am On May 18, 2012
What happened to d N4.6 trillion that FIRS generates yearly.
Good question, I thought NOI said our Reserves are coming up again, when PDP leaves power I pity these people NOI, Diezani and GEJ almost forgot mallam sanusi
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by Nobody: 10:35am On May 18, 2012
Hoodrat:

God is not sending any chariot. The future of Nigeria is in your hand you have the power to fight for your right and your children. God will never come down to fight for Nigerians Nigerians need to fight for Nigeria. You Coward grin

i referred to chariot of fire to show the extent of my frustration. I personally don't have anything to loose or gain with whatever is happening in Nigeria. I just empathize with the common man and the fact that that country is becoming more of a h e ll hole every second.
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by slimghost(m): 10:41am On May 18, 2012
Nigerians and talk talk! tufiakwa!!!! We are all bunch of cowards because we ought to have had enough by now and risen up against these greedy blood suckers. And am going to say this for the first time: GEJ is incompetent,dumb,corrupt and hopeless.

1 Like

Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by richjohn1(m): 10:44am On May 18, 2012
NLC, TUC, SNG where una dey...naija waits fou you
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by Ozonna(m): 10:45am On May 18, 2012
Abagworo: Sometimes I wonder how Abacha managed to achieve and steal a lot without borrowing and with crude oil selling below 10 dollar per barrel and daily output of around 1.5million barrel.

Simple. Fewer government officials. There were no national assembly members,there were not many PA's,SA's for the president,military administrators and LG's sole administrators,fewer FG's staffs,etc
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by Hoodrat(m): 10:45am On May 18, 2012
cyrexx: this Okonjo Iweala that gave our gullible president wrong advice on fuel subsidy. may her generations suffer the same predicaments as the victims of fuel subsidy. may her family suddenly become bankrupt and begin to borrow borrow the way she is advising nigeria to borrow now. may all her family never progress, the same way her policies are against progress of average nigerians, may she always know sorrow the same way they plunged average nigerian into sorrow with their self serving policies. may the accurate targetting thunder of Shango and Amadioha strike her and her family dead suddenly, since there is no earthly court to to convict her. by the power of all the Gods in in Africa.

Take your curse out of here you Nigerian slowpoke.. You are free to indulge in your hatred safe on internet. If you are so bold to cursed so much online why dont you go straight to Aso rock and show them what you made of?.. I bet you are way too coward? let me know when is time to take over Nigerian and will join in the war not with all this nonsense God send charriot sango/ogun kill okonjo and GEJ on on internet cuz we been cursing for a long time and shit just keep getting worst.
Re: Nigeria To Borrow 7.9 Billion Dollars. Okonjo-Iweala Approves. by lacasa: 10:47am On May 18, 2012
Another Pointer For those Nigerians who mortgaged their future by stupidly voting for GEJ & not PDPP

Another Pointer for all those who voted for their tribesman, religion, 'their son',

At †ЂΞ end of †ЂΞ day are We not all paying for our stupid mistakes now

Next time, come 2015 let's go. Like France has done & show D̶̲̥̅̊aτ̲̅ NIGERIANS αv †ЂΞ final decision on their future & their families future by saying

NO τ̅o PDP

NO τ̅o election rigging

No τ̅o intimidation

No τ̅o Fresh air leadership.

Mandela 1ce said, "Revolution doesn't have τ̅o be violent, but for government τ̅o change everyone must suffer"

We are our future, its up τ̅o us! Shikenan

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