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Nairaland Forum / Nairaland / General / Politics / Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects (18392 Views)
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Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by mrDennis(m): 4:18pm On Feb 02, 2016 |
Redoil: Show me a country , state or local county that doesn't borrow (especially for capital projects) and I will show u a dog that doesn't eat meat (vegetarian) 1 Like |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 4:21pm On Feb 02, 2016 |
adconline:Government is borrowing N1.8 trillion not 2.4trn, there is a reason for aggressive push for IGR, stamp duty is one of them 3 Likes |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 4:23pm On Feb 02, 2016 |
Why is it that some people are not seeing anything good about this government? They prefer to look at anything and everything coming out of this government from a negative angle. I think we should all play our part and pray to God for direction. This Government is not perfect, but it is far better than what we had in the past. 3 Likes |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by adconline(m): 4:26pm On Feb 02, 2016 |
Obiagelli:Let's stick to ur number- if N1.8tn is borrowed, only N600bn would be for capital project while N1.2tn will be chop money for Politrickians-- this is pure madness!! Mind u 1.8tn was oil benchmark was pegged at $37/barrel, now it would be something like $25/barrel, which is going to force govt to borrow additionally to bridge the gag btw $37-25=$12. Govt needs more money now!! |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 4:32pm On Feb 02, 2016 |
adconline:My goodness all the borrowed money going into capital projects. How many times will i say this? 2 Likes |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by luvinhubby(m): 4:35pm On Feb 02, 2016 |
Obiagelli: Stop this! Nigeria foreign reserve currently stands at $28 billion. |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by luvinhubby(m): 4:39pm On Feb 02, 2016 |
Obiagelli:Pls specify how much precisely govt is borrowing, both locally & internationally to fund 2016 budget. |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by JakesJ(m): 4:39pm On Feb 02, 2016 |
Adeosun Or Abi Na Adeoshogbo, I Mean Nothing, And No Amount Of Explanation Will Do! It's Very Much Obvious That U & Buhari Don't Really Know What To Do... Too Bad For A Nation To Have This Sets Of Idiots As Her Leaders!!!!! |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 4:41pm On Feb 02, 2016 |
luvinhubby:Have i said otherwise? 1 Like |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by luvinhubby(m): 4:43pm On Feb 02, 2016 |
Obiagelli:Read your post again & this time, very slowly. |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 4:44pm On Feb 02, 2016 |
luvinhubby: N1.8 trillion, it is written in the last paragraph of this article 1 Like |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 4:46pm On Feb 02, 2016 |
luvinhubby: I copied it from the link i posted to show exactly how much gej left in may 29, so there wont be any argument about it 1 Like |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 4:50pm On Feb 02, 2016 |
Tokt:But professor of lie said he used to purchase substandard weapons 1 Like |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by luvinhubby(m): 4:51pm On Feb 02, 2016 |
Obiagelli:The arguement is today's balance. |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by luvinhubby(m): 4:53pm On Feb 02, 2016 |
Obiagelli:Conservative estimate, 2.1 trillion is the realistic figure, go ask budget site. 1 Like |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 4:59pm On Feb 02, 2016 |
luvinhubby:No the argument is losing our foriegn resever from over $40 billion in 2008 to $30 billion in 2015 despite record oil prices same goes for the ECA or SWF or whatever name we give it 1 Like |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Tokt: 5:01pm On Feb 02, 2016 |
asuustrike2009: Only substandard weapons will make gallant soldiers that excelled in other countries run away in their own coutry when told BH was on her way. It only happened under jonah-daft presidency. The professor was right. 1 Like |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 5:05pm On Feb 02, 2016 |
luvinhubby: Deficit is 2.1 trillion loan is 1.8 trillion The rest i believe will be sorted out with agressive IGR push 1 Like |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 5:08pm On Feb 02, 2016 |
Tokt:But same professor said they' have defeated boko haram technically with the said weapon. Apc pipo make una open una eye, shine am wella. Don't let all there politicians deceive una. |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Tokt: 5:08pm On Feb 02, 2016 |
obayaya: This is a big lie being peddled to deceive the extremely gullible. Ngozi was challenged on this by soludo with the below and till date that witch never responded to it. I hereby challenge your attempt to blame others for not saving for the rainy day. It is not a virtue when you are quick to appropriate all the credit when things are going well, but shift the blame when they go wrong. You blame the state governors— who, according to you, have taken the Federal Government to the Supreme Court—not that a Supreme Court judgment forced your hands. For your information, the governors have never agreed to savings and always threatened court action even under Obasanjo. Why did we save under Obasanjo but not under Jonathan? Two keywords explain it: leadership and integrity. Governor Amaechi said the governors insisted on sharing the funds because they found out that you were illegally fiddling with the savings. So, as Nigerians still wonder, if billions of dollars are now ‘missing’ under your nose, why should governors trust you to keep their money? Do the states that have taken the federal government to the Supreme Court and refused to save also include the PDP governors—who are in the majority? If so, then it is fatal: even governors of your own party, PDP, do not trust you to keep their money! Furthermore, did the governors also stop the Federal Government from saving part of its share? If you ran a surplus budget at the Federal level, you would have had credibility to blame others or to say they did not listen to your advice. The key point is that since you were running huge deficits yourself, it was also in your own interest to share the ECA. You did not show leadership or credibility, full stop! 1 Like |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by obasiken: 5:11pm On Feb 02, 2016 |
Tokt: But you just said dasuki embezzelled the money. So which money did he use to buy the sub standard. And which weapon is the NA using to carry out the war right now |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Tokt: 5:13pm On Feb 02, 2016 |
asuustrike2009: Yes he was right. He gave reasons for declaring technical defeat didnt he? TANoids and Ipob fools wont tell u that part will they? He said they are Technically defeated because their capability and capacity to annex territories of the federal republic like they did under the leadership of the buffoon has been neutralised. Sane minds surely know that this is true. |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Tokt: 5:20pm On Feb 02, 2016 |
obasiken: u lot are just fond of asking foolish questions. Qoute me where i said the above first and i will decide if i will choose to answer or not. By the way, if Dasuki embezzled the money why are yam eaters like Metuh, dokpesi,etc in court for money dasuki embezzled? are they also Dasuki? 1 Like |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by rusher14: 5:25pm On Feb 02, 2016 |
obasiken: I could give you 250K to buy toilet fittings for a single bathroom. You may decide getting them in Mushin would give you the opportunity to fund your weekend outing, or you could actually make your way to those fancy fittings and hardware stores in VI. Your pick. |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 5:30pm On Feb 02, 2016 |
Obiagelli: Well spotted. Impressed. 1 Like |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 5:44pm On Feb 02, 2016 |
I am with Ben Bruce, all this half arsed budget, half arsed borrowing. Borrow $50, $100b whatever is needed and spend it diligently on infrastructure, power, roads, rail, health and education once and for all. The returns from increased GDP, employment and taxes will pay for the loan in time and we accelerate our development (this was the blueprint for China's development ). All these timid tiny steps only mean in 20 years we will still be discussing how to fix our roads and power but by then something which would cost $1B today would cost $5-$10b then. When Lagos-Ibadan road was built I remember it cost about $100m, today (for almost 8 years) we are struggling to find $1b plus to rebuild the same road. Better to borrow $1b today and build a road and pay interest on $1b than to wait ten years to borrow $5b and pay interest on $5b for the same road. You end up paying more and you wait longer to get the benefit. Borrow $30b and fix power once and for all, borrow another $30b and fix roads once and for all, your interest payments (commercial rates) on both loans is not more than $3b a year 1 Like |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by drnoel: 5:59pm On Feb 02, 2016 |
Ioannes: bros i wonder what Nigeria will do once oil Prices hits rock bottom of 0 Dollar/Barrel? |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by luvinhubby(m): 6:02pm On Feb 02, 2016 |
Obiagelli:What is the difference between deficit & borrowing in respect to budget projections, considering that projected IGR was part of the calculated income that gave rise to the deficit which will be augmented by borrowing. In short, deficit & borrowing are one & the same in every budget. |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 6:18pm On Feb 02, 2016 |
luvinhubby:I doubt the bank stamp duty was part of the budget, i know many more will come |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 6:37pm On Feb 02, 2016 |
Tokt:Technically they defeated boko haram yet they still attack isn't strange? Why would he refer to killing of Nigerians as soft target? |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by ekolina(m): 7:04pm On Feb 02, 2016 |
Tokt:The 1billion dollar was never a cash loan get your facts right. |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 7:07pm On Feb 02, 2016 |
drnoel: well in my opinion when you hit ground zero, the only place you can go is up. we will be forced to look inwards and see how we can survive. things will definitely be tough for a few years but it is for the best. if we have capable hands on deck then we shall rise again. over-dependence on oil has made us lazy and corrupt. with oil revenue gone, we will dig deep and begin to lay the foundations for REAL prosperity for this nation. one that we can bequeath to our children and their children after them. this is a blessing in disguise my brother. |
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