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Nairaland Forum / Nairaland / General / Politics / Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This (37616 Views)
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Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by deepwater(f): 9:40am On Sep 07, 2018 |
adioolayi: sorry bro, it is either your basic economics theory is bad or you have never had to do real life practical transactions in this scope. 5 years from now coupled with additional education you would be ashamed of this your post |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by 7lives: 9:41am On Sep 07, 2018 |
obailala: E go forever dey better for you. |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by gurnam: 9:43am On Sep 07, 2018 |
centoke30: Yes, a young chap that knows what he is saying will never be intimidated by your so called former world bank president on the issue of Chinese loans and that from Brentwood. 1 Like |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by Zirah: 9:47am On Sep 07, 2018 |
Realname: Keep deceiving yourself. It's 9.47am and I just read his comment. Truth is, no place for a backward and bitter tribe. 2 Likes |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by HardMirror(m): 9:50am On Sep 07, 2018 |
gurnam:seems you dont know your maths. Read what a fellow nairalander with one head like you pointed out chronique: So a loan with a 12 years maturity that cumulatively adds up to 43.2% is better than that of a 38 years maturity window and cumulatively adds up to 47.5%? Some of you have no business being in business or discussing anything finance. now is 38years maturity period not better at 47.5% than 12years at 43.2%? You guys just rush to comment without thinking. Oby was making sense, that olakunle was just making noise 1 Like |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by Ugosample(m): 9:52am On Sep 07, 2018 |
Zirah: This person is calling the Igbo tribe a backward and bitter tribe You know nothing That is all I have to tell you |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by HardMirror(m): 9:52am On Sep 07, 2018 |
gurnam:the guy was saying rubbish This is what you shld pay attention to 'chronique: So a loan with a 12 years maturity that cumulatively adds up to 43.2% is better than that of a 38 years maturity window and cumulatively adds up to 47.5%? Some of you have no business being in business or discussing anything finance. 1 Like 1 Share |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by Nobody: 9:54am On Sep 07, 2018 |
[s] famosh:[/s] A frustrated skull mining, sufferisticated, demonic broom wielding zombie has just hyperventilated
|
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by ifiokjohn(m): 9:56am On Sep 07, 2018 |
gurnam:but you do tribalism junk by calling anybody against buhari igbos and ipob. |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by Trendirabingi: 9:56am On Sep 07, 2018 |
SoNature:many nigerian youths, escpecially d tribal bigots, from twitter to nairaland are ignorant n stewpid at dsame time..they just key into discussions to loathe, not to even learn anyfin,.. Thats how stewpid they are, n u see lots of them here in nairaland, why they get d kind of politicians they have..the guy flying figures has so mesmerised them to boisterity n even compounded their foolishness, oby only saw the gathering of worms n their worms alike..n gave way...d lady wif class cannot go on mixing or bantering neophyte tadpoles in muds..so she kept quiet, or prolly found somethin important doing, since she found it wasnt worth it..knowing wat most nigerian ova sabi youths sound like...on twitter... 1 Like 1 Share |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by TheUbermensch: 9:56am On Sep 07, 2018 |
SoNature: Of a truth you're correct. Most people just appreciate the fact that "Oby was served". Whether she was served correctly or not it's not their business. 2 Likes |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by kokomilala(m): 9:56am On Sep 07, 2018 |
Anybody can get facts wrong anywhere, anytime. It does not mean she's stupid or dumb. |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by alfsalami: 9:57am On Sep 07, 2018 |
The value of this madam is dropping like the naira 1 Like |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by 7lives: 9:57am On Sep 07, 2018 |
datribune: The IMF wahala was all over Africa during that period, the Brazil move and Umaru Dikko fiasco was the reason the British made sure they remove Buhari. Buhari is a serious head ache to their agenda in Nigeria and Africa as a whole. Nigerians paid big time then and the country is still paying till today. 2 Likes |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by studentofTruth: 9:58am On Sep 07, 2018 |
meccuno: It's funny to see Nigerians applaud this Somoye guy simply because they felt mesmerized by the figures he's throwing. I know Nigerians hate mathematics and figures but at least common sense and basic principle would make the obvious more obvious. Admittedly, lack of political conditionalities and supervision (if true) of utilization of the loans is a good thing. But that's just about the only good thing about Chinese loans BASED ON THE FIGURES POSTED IN THIS ARGUMENT. The key features of a good loan shows that IDA is a far better option than the Chinese loans. The primary features of "better" loan lie in the INTEREST RATE and DURATION OF PAYMENT. 1.INTEREST RATE: Chinese 2-3 (or 3.6)%; IDA 1.25%. which is better? IDA of course. If you doubt it, I would ask you a question: if you're taking a loan would you go for a higher interest rate? I bet you won't. 2. Duration of payment: Chinese 12years, IDA 38years. which is better? IDA of course. In your personal loan I'm sure you prefer longer duration for easy payment. NOW THE ARITHMETIC FIGURES. He calculated a total Interest rate for Chinese loans for 12years as 43.2% (3.6x12). Then IDA loan for 38years as 47.5% (1.25x38). If FG can payoff Chinese loans in 12 years, nothing stops them from paying off IDA loan in 12 years (NOBODY SAYS YOU CAN'T OFFSET YOUR LOAN EARLIER). Based on his calculation of "total interest rate", IDA loan for 12 years gives 15% (1.25x12). So by his own calculation, given the same duration of payment, IDA is still by far the "BETTER LOAN". If this is your personal loan, I'm 100% certain you will prefer a loan that gives you CHEAPER INTEREST RATE and LONGER DURATION. (Even the Chinese if they can, would take IDA loan and lend it to Africa @Chinese rate and make some profit for themselves.....this is how banks make money if you know). I don't see how this appears like rocket science because it's on twitter but I understand Nigerians and basic mathematics are enemies. NB: His calculated figures are FUNDAMENTALLY FAULTY as Yearly Interest is calculated from Balance for each Year and not from initial capital. So his arithmetically calculated total INTEREST RATE is misleading. Total interest rate of what, original capital? Absurd. But I don't want to delve into that for now unless someone asks for it. I'm sure that's why Madam Oby left him alone with his glorified ignorance well exposed on twitter. 4 Likes 1 Share |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by AustineE1: 10:03am On Sep 07, 2018 |
TheUbermensch:The same impoverished and jobless youths she is trying so hard to liberate from there deceptic and thieving leaders...'slaves that loves their chains'. 3 Likes |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by Nobody: 10:03am On Sep 07, 2018 |
deomelo: It all depends on wen it was screenshot. Meanwhile those loans are extremely dangerous, U will understand this in the future. |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by mikkyjay(m): 10:05am On Sep 07, 2018 |
Zirah:Going by this I think your tribe is the bitter and backward one, you are the first to attack her entire tribe because you think she is wrong. How backward and senseless! 1 Like |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by chronique(m): 10:06am On Sep 07, 2018 |
HardMirror: i think government should start making basic finance a compulsory course for all higher institution students so they can have an idea of some of these things. |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by senatordave1(m): 10:07am On Sep 07, 2018 |
studentofTruth:My brother leave all this long grammar.the west have en giving us loans since independence yet african nations are still backwards.whenever the west involves themselves in africa,disaster happens.but the short period china has involved themselves with africa has yielded more fruits.the west should only help us military wise while china should help us economically.shikena |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by centoke30(m): 10:11am On Sep 07, 2018 |
gurnam:that boy was talking gibberish. take that his assertions to a professor of accountancy like I did and you will understand |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by studentofTruth: 10:12am On Sep 07, 2018 |
It's funny to see Nigerians applaud this Somoye guy simply because they felt mesmerized by the figures he's throwing. I know Nigerians hate mathematics and figures but at least common sense and basic principle would make the obvious more obvious. Admittedly, lack of political conditionalities and supervision (if true) of utilization of the loans is a good thing. But that's just about the only good thing about Chinese loans BASED ON THE FIGURES POSTED IN THIS ARGUMENT. The key features of a good loan shows that IDA is a far better option than the Chinese loans. The primary features of "better" loan lie in the INTEREST RATE and DURATION OF PAYMENT. 1.INTEREST RATE: Chinese 2-3 (or 3.6)%; IDA 1.25%. which is better? IDA of course. If you doubt it, I would ask you a question: if you're taking a loan would you go for a higher interest rate? I bet you won't. 2. Duration of payment: Chinese 12years, IDA 38years. which is better? IDA of course. In your personal loan I'm sure you prefer longer duration for easy payment. NOW THE ARITHMETIC FIGURES. He calculated a total Interest rate for Chinese loans for 12years as 43.2% (3.6x12). Then IDA loan for 38years as 47.5% (1.25x38). If FG can payoff Chinese loans in 12 years, nothing stops them from paying off IDA loan in 12 years (NOBODY SAYS YOU CAN'T OFFSET YOUR LOAN EARLIER). Based on his calculation of "total interest rate", IDA loan for 12 years gives 15% (1.25x12). So by his own calculation, given the same duration of payment, IDA is still by far the "BETTER LOAN". If this is your personal loan, I'm 100% certain you will prefer a loan that gives you CHEAPER INTEREST RATE and LONGER DURATION. (Even the Chinese if they can, would take IDA loan and lend it to Africa @Chinese rate and make some profit for themselves.....this is how banks make money if you know). I don't see how this appears like rocket science because it's on twitter but I understand Nigerians and basic mathematics are enemies. NB: His calculated figures are FUNDAMENTALLY FAULTY as Yearly Interest is calculated from Balance for each Year and not from initial capital. So his arithmetically calculated total INTEREST RATE is misleading. Total interest rate of what, original capital? Absurd. But I don't want to delve into that for now unless someone asks for it. I'm sure that's why Madam Oby left him alone with his glorified ignorance well exposed on twitter. Ignorance is a disease. Ignorance you're unaware of is incurable. 1 Like |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by studentofTruth: 10:14am On Sep 07, 2018 |
senatordave1: I care not about who help you. Help yourself. This I say both to you as a person and Nigeria as a country. |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by studentofTruth: 10:16am On Sep 07, 2018 |
chronique: Totally agree. The level of ignorance is amazing. 1 Like |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by datribune: 10:16am On Sep 07, 2018 |
7lives: Very correct. I'm glad there ar people who care to know about Nigerian history. They did d same to Murtala Mohammed after whom Buhari/Idiagbon modelled their govt. Those two regimes were a thorn in d flesh of Britain & d colonial powers. Murtala's foreign policy which had Africa & particularly d liberation of countries like Zimbabwe, Angola, S/Africa etc as its centerpiece was a threat to d interests of d colonialists. It could all hav been very different if d foreign powers had not intervened & either d Murtala govt or its offshoot, d Buhari/Idiagbon govt had survived. It could hav been very different because those were serious govts committed to d development of not only Nigeria but Africa as a whole. I agree, Nigeria has never recovered. |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by gurnam: 10:21am On Sep 07, 2018 |
centoke30: What exactly did you “professor” say? Let us know, we want to learn from his fountain of knowledge |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by Nobody: 10:23am On Sep 07, 2018 |
Sirjamo: So when she was campaigning for Buhari she was Yoruba, now she has become Igbo |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by studentofTruth: 10:24am On Sep 07, 2018 |
7lives: The wahala is not with IMF and it's loans. The problem is with your leaders and their utilization of the loans. Its the same loans that banks and some individuals like Dangote are growing their wealth on. IMF don't utilize the loans for you, you do it yourself. 1 Like 1 Share |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by jomoh: 10:24am On Sep 07, 2018 |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by wakaawaka(m): 10:27am On Sep 07, 2018 |
What are they even talking about? 1 Like
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Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by adioolayi(m): 10:27am On Sep 07, 2018 |
deepwater:I don't get this your rant... have I claimed to be a major in the subject of discuss I haven't. Two intellectually sound people argued with facts and one seems to have upper hand.. and you are here abusing my position for going with the one that convinced me what the government did was in the right direction I don't get you. If you know more, you can school us too. |
Re: Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This by Nobody: 10:28am On Sep 07, 2018 |
madridsta007: Don't mind them, when Oby was campaigning for Buhari, she was not Igbo |
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