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Nairaland Forum / Nairaland / General / Politics / Obasanjo Says Nigeria Faces Impending Bankruptcy (27332 Views)
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Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by itsme01: 10:50am On Dec 29, 2019 |
JastSiryin: if given 24 / 7 electricity would you remain this less productive.. yes or no |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by JastSiryin(m): 10:54am On Dec 29, 2019 |
itsme01:Saying that 24hr power supply is all we need to be super developed is a gross oversimplification of our problems. Believe me, we'll need much more than that 1 Like |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by AgwoAkpi: 10:56am On Dec 29, 2019 |
[s] itsme01:[/s] |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by itsme01: 11:04am On Dec 29, 2019 |
JastSiryin: power and steel is a good start for youth majority population like ours |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by AODT(m): 11:13am On Dec 29, 2019 |
TUANKU: So in your opinion because OBJ said it, it is correct abi!!. 1st he has no idea how economies run and because he criticizes does not mean he is smart am sure he is regretting the so many things he could have done but never did...too bad “stop being an old grumpy man” and allow us live our lives too |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by Chukwurah003: 11:18am On Dec 29, 2019 |
Olatunji1929: Ignorant comment |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by Chukwurah003: 11:19am On Dec 29, 2019 |
TUANKU: Not everyone is hungry like you. We do not support President Buhari blindly. |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by Chukwurah003: 11:23am On Dec 29, 2019 |
See who is talking. |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by Giftedtu: 11:27am On Dec 29, 2019 |
Mr Obasanjo sir, you see... they're borrowing this money just for it to end up being embezzled by the same borrowers and their children, for them, they know that soon they will either die or retire and enjoy their loot and the debt will be on the head of the 180 mon-keys and ba-boons, pity for us as a country. but i still get small hope sha because the theme of this year's #carnivalcalabash #Humanity fit still do small help sha. |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by Gbemiie: 11:36am On Dec 29, 2019 |
God help us |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by sulaak(m): 12:04pm On Dec 29, 2019 |
itsme01: Infrastructures are liabilities. The country will also require loans to maintain these new roads, rail networks and power plants, unless they have designed a self-sustaining method to support these complex and expensive infrastructures such as toll gates for roads and high tax rates and payments fees for electricity and rail networks. 1 Like |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by itsme01: 12:08pm On Dec 29, 2019 |
sulaak: toll gate is in the digital toll gate is in the pipeline, and with more industries using power and rail they dont need to tax us heavily.. its all about how best we plan our financial strategy |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by sulaak(m): 12:10pm On Dec 29, 2019 |
itsme01: What about debt affordabilities, Nigeria GDP might be $400 billion but the country national budget is the same as Angola and Kenya. How can a country manage $50 billion external debt and $63 billion internal debt with a national budget of less than $40 billion? 1 Like |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by JastSiryin(m): 12:18pm On Dec 29, 2019 |
itsme01:Nobody is questioning how good it would be to have such facilities. But I think people are oblivious of how detrimental our corrupt bureaucracy is to anything that should promote development, even we the citizens are complicit. Even if these amenities were to fall from the sky, who's going to be in charge of regulating things? We all know in the end whatever stride we're able to make would only be scratching the surface. Because we'd soon very well find our efforts severely stifled by bad policies. We need to fight corruption, but not in the bigoted and partisan way its being carried out now. Which is in the aimless chasing of shadows, and scapegoating. We can't have the life we want with the way things are being run. Even if you had an endless source of water, you'd never be able to fully tap from it if you only have a sieve in hand. Corruption undermines everything!! 1 Like |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by AstralBody: 12:20pm On Dec 29, 2019 |
tiredoflife:That's ok,but we should be separated from d north first. |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by Samade7: 12:21pm On Dec 29, 2019 |
itsme01: God bless you sir.........u are just one in '000s here. Kudos bro. Never expected dis. Thanks sir. 1 Like 1 Share |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by orisa37: 12:25pm On Dec 29, 2019 |
OBJ IS REPENTING IN TRUTH AND RIGHTEOUSNESS.
FG AND THE 36 CONSTITUTIONAL STATES GOVERNMENTS PLEASE LISTEN TO HIS SPIRIT.. |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by itsme01: 12:26pm On Dec 29, 2019 |
JastSiryin: your fears about corruption are legitimate, however the loans are going to be escrowed by chinese till the projects are delivered so no free money for any politician |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by itsme01: 12:32pm On Dec 29, 2019 |
sulaak: build a road and toll it, build rail and get people to pay.. provide power and watch industries start springing up, dont forget we have the population and the resources just steel and power being our major constrain |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by somtookeke(m): 12:40pm On Dec 29, 2019 |
Bankruptcy awaits Nigeria as she piles up debt: Olusegun Obasanjo https://speakersden2..com/2019/12/bankruptcy-awaits-nigeria-as-she-piles.html
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Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by KamikazeQ: 12:41pm On Dec 29, 2019 |
[s] itsme01:[/s] |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by KamikazeQ: 12:44pm On Dec 29, 2019 |
[s] itsme01:[/s] |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by sulaak(m): 1:05pm On Dec 29, 2019 |
itsme01: Taking large scale debt has never been a development strategy, especially if the country lacks the capability and capacity to manage its existing debts portfolio. Why not start with cutting the cost of government and recurring expenditures, Nigeria spends more on the National assembly than health care. The country has four refineries operating at less than 5% capacity, it will take less than $1 billion to bring all four refineries into 80% operation which will significantly reduce the country $8 billion refined oil import bill. How much has been wasted on the failed NDDC agency in the South-South, that could have been invested in gas turbine power plants? 1 Like |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by GMbuharii: 1:12pm On Dec 29, 2019 |
Kuginzi: Be useful to mankind thank you |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by KamikazeQ: 1:17pm On Dec 29, 2019 |
[s] itsme01:[/s] |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by Kuginzi: 1:19pm On Dec 29, 2019 |
GMbuharii:E be like say u hear this word for radio station, na why u dey repeat am well well be that!! Thanks 1 Like |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by GMbuharii: 1:25pm On Dec 29, 2019 |
Kuginzi: |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by michoim(m): 1:28pm On Dec 29, 2019 |
False alarms by prophet of doom!!! |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by enemyofprogress: 1:41pm On Dec 29, 2019 |
Kuginzi:Please wait for a few minutes before submitting this post. My mention is overwhelmed. |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by JastSiryin(m): 1:41pm On Dec 29, 2019 |
itsme01:I wouldn't claim to be knowledgeable in the area of carrying out projects but, if that's the most sensible way it could be done, I see no problem with this. |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by Boss13: 1:55pm On Dec 29, 2019 |
Unfortunately, Obasanjo's escalation is coming too late |
Re: Obasanjo Says Nigeria Faces Impending Bankruptcy by RaptorX: 1:58pm On Dec 29, 2019 |
Lynx001:I think debt servicing is just paying the interest on the loans. |
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