Golan007:


Most of you simply speak from sentiments and not actuality.

Kay25:

oh I did but we didn't pay as much as what they are paying now and is that a benefit?how much are the state university paying?

Golan007:


Name the government official that claimed it to be a grant.

By the way, all countries are borrowing and all countries have had their future generations pay debt.

The whinging is worn out.

MrPaul2:


What are you saying, because everybody is doing it, do it make it right, when naira is equal to zero against dollars?
Is it not yesterday we just received over $300m dollars from Abacha loot?
What's the hope for common man?

hope4nigeria:
not all the poisonous substance are toxic but all the toxic substance are poisonous! Not all the country that borrow loan are corrupt, but all Nigerian Leaders that borrow Loan are thief.

Phoenixhome:
Who will pay all this..

Golan007:


Actually, I don't see anything wrong in a universal mechanism.

We all act as if America isn't adding an additional 4 trillion dollars to its debt burden but go into a frenzy over a mere 3.5 billion dollars for a country of 180 million people.

All we need to do is be more inventive, roll up our sleeves and work.

The rest of the world is advanced because they seek solutions but we are in a funk of constant whinging expecting some kind of supernatural transformation.

Abeg.

Golan007:


Name the government official that claimed it to be a grant.

By the way, all countries are borrowing and all countries have had their future generations pay debt.

The whinging is worn out.

Golan007:


Platitudes.

A country of 180 million people going into a frenzy over an additional 3.5 billion dollar debt should speak to their inability to produce.

It actually is an indictment on the populace rather than government.

Ochogbe:
So what are you saying ? This government should continue to borrow for the future generation to pay even when you and I know that they are borrowing it for their selfish and personal interest ?

eagleu:


Amazing!
One of Buhari's regrets in 1984 was borrowing from IMF and subjecting Nigerians to their harsh conditions which created a favorable atmosphere for his ouster!

It's not the amount of 3.5B that's the problem. The problem is lack of any solid plan to use it judiciously.

3.5 from IMF, 11.8 from China, 2.5 from here and there: they add up for the long haul, because there's not going to be any cheap oil to sell anymore.

Honestly, if you are in a position to advice and influence Buhari, you should be lecturing him right now, not coming here to say things you know are not true.

PassingShot:

This govt is neither GEJ's nor OBJ's.

Trailblazer1:

Chamberlin1983 post=89267675:
Are they borrowing to feed people?

In the same vein, I hereby call on Shekau to account for every adopted Chibok school girl

GamalNasser:
Another loan Buhari the magician will make disappear into very thin air without any trace once more

dipoolowoo:

By Adedapo Adesanya

Nigeria has received the $3.4 billion emergency loan from the International Monetary Fund (IMF).

IMF Managing Director, Ms Kristalina Georgieva, confirmed to CNBC Africa in an interview that the $3.4 billion loan had been credited to the account of the Central Bank of Nigeria (CBN).

The funds had been approved under the Rapid Financing Instrument by the Executive Board of the IMF on April 28, ‎to address challenges arising from the economic impact of the COVID -19 pandemic the country.

Ms Georgieva also called on the Federal Government of Nigeria to be transparent and account for every single kobo of the fund.

‎The federal government had assured that it will publicise all disbursements from the funds, adding that there are plans to conduct an independent audit of all emergency expenditure at the end of the pandemic.

The Nigerian government also agreed to allow the IMF to conduct a due diligence exercise on the CBN, these will be done in line with the Fund’s safeguards assessment ‎program.

According to the IMF chief, the money was sent to the CBN’s account in dollars, after which it would be converted to naira.

“We have already disbursed. In emergency assistance, the board approves, we disburse within days to the country and it goes to their central bank in dollars before it gets converted into naira in the case of Nigeria.

“The conditions are quite favourable and repayment period is five years, up to two and half years is grace period and the interest on the loan is one percent,” she said.

Ms Georgieva assured that the IMF will continue to support Nigeria and other member countries.

“We have put in place policy tracking action, and we are seeing progress each country is making.

“The IMF will continue to support countries and shield them from catastrophic implications of the COVID-19 crisis,” she added.

https://businesspost.ng/economy/imf-credits-cbns-account-with-3-4bn-emergency-loan/

Goddey18:


But worse than this two

nairavsdollars:
Who will pay all these debt Buhari is accumulating?.

Golan007:


Still very little.

I thought you were asking what government does for its citizens.

Please find out how many of your fellow graduates in the USA are without student debt.

The other day, there was a thread on Nairaland about a final year medical student to be thrown out of a private university because her sponsors could no longer afford her fees running into millions of Naira.

I guess if she had gone to UNN for instance, graduated then gone on to better things, abroad say, she would have been rather too spoilt to see how her living was subsidized by the "useless" government. This is all hypothetical but hope you see the point.


Remember that there are hundred of thousands of Nigerian students each year benefitting from this subsidized (low quality, yet life changing) education for which we should be all grateful.

Kay25:

see you the Debt that it's sure to pay back after getting a job .tell me how many grants u got?