President GEJ is currently in China to sign a purported $ 3 B loan for infrastructure in Nigeria. According to news and for all we know about his usual trips, he travelled with his, wife Patience, about half a dozen ministers and a retinue of aids for all these people! How much is this going to cost the Nigerian taxpayers? Did they all fly on the same private jet, two? Chances are that at least two, does any president need so many people to go and borrow money? Why spend so much money just to borrow? However, that is just part of the issue.

New today indicated that a paltry $1.1 B was signed as loan between China and Nigeria. Now, consider how much was spent to ship so much bloat of unnecessary entourage for such a small amount of money? That is just about N160 B naira! But it gets even worse if you think about it and what it means for you, your children and grandchildren. In 2006, President Obasanjo had negotiated Nigeria debt free agreement with the Paris Club, much of the debt questionable. But the point was Nigeria was debt-free and it had argued that interest on loans were so high it was taking away resources (money) that could be invested in critical infrastructure! Well, in about 6 years, Nigeria has racked up foreign debts of about $ 6 B again and when you add this current loan, that is about $ 7 B, yet Nigerians are not protesting and stopping this government from mortgaging their future and their unborn children! According to sources, Nigeria's domestic debt is already about $40 B dollars, who will pay all these debt? The Chinese are NOT STUP.ID, what are they going to get from this loan? If you think a mere < 5% interest is what they got in the agreement, you are really the STUP.ID ones! Why can't you demand for the details of the agreement be published? Well, I will tell you that all that money or loan will ensure the contracts are awarded to Chinese companies (like CCECC, CSCEC), their Chinese engineers will be shipped in while a few Nigerians with low level skills or high level skills but paid low-level wages will be hired! Is this not suffering? Unemployment is sky high! Oil receipts are declining. Nigeria's biggest oil customer, the US, has ramped up its local production of oil, where does this leave Nigeria?

You can question why I am writing, yes I welcome that challenge. But I will announce to you that I will not be in any way responsible for paying a dime of these humongous debts, neither my children or their children. I carry a Nigerian passport only when I get to the Muritala International Airport in Lagos and use my main passport which takes me everywhere else. I pay my taxes here, not to Nigeria! Can you blame me or millions of Nigerians like me? I finished a Bachelor's degree in Nigeria but did my graduate studies in my current country with a scholarship paying for almost all the years of my graduate school. Before graduate school, my monthly salary was about N 1 M, that is money a lot of unemployed people will be glad to be paid even at 10% each for 10 people making a N 100 K per month! Well, my kids and grandchildren are going to visit Nigeria with me but the load of debts being incurred for you will be incurred by you people alone, especially now that you keep supporting this profligate retarde.d GEJ non-government. I read you support lawlessness of the president and his wife in Rivers, BH in the north, etc especially since you or your people are not in the full eye of the storm yet. Well, you are being enslaved and since you have been told, in case you did not know before, people like me will feel no pity for you when you cry in agony, pain and suffering! You got the type of leaders you deserved!

in Ja Rule's voice..."it doesn't matter what this m0r0n says"

badmrkt: in Ja Rule's voice..."it doesn't matter what this m0r0n says"

You and your kins are the m.orons! I am not surprised from your previous post, you are just really moro.nic! You know you are a FAILURE yourself, as put in your own words in another post which I replicate below. And your post shows you are a wasted tribalist...LOL. Big loser!

Personal text: the only thing i get for diz poo i do'z luv n abuse!

Signature: a brea.st @ hand is better than a thousand in their holdings....i've got to make good use this before it slips of my hands.

u r a broda man.[size=16pt]you knw it really sucks to be a failure.[/size]
your last cent?,ahm takin it.thanks man...

Word on the streets is, GEJ will be president till 2019.
but why do the Jorubas hate the president so much?

From another thread:

yuzedo: And Nigeria is giving China what exactly in return?! I am not talking about the terms on paper. Money Cost. Opportunity Cost. Bla bla bla. What price is Nigeria REALLY paying for this?
Probably $10 billion. The article states that Chinese companies already have contracts worth $1.7 billion.
Looking at it in a simplistic way,
1)China gives us $1.1 billion
2)We give Chinese companies contract with the money.
3)We pay back China $1.1 + interest.

Those Chinese guys are smart.

Serves 'em right!
Awon 'GBESE' MILLIONAIRES AND BILLIONAIRES!
He who goes a-BORROWING. . . goes A-SORROWING!

mgbeketoto: Serves 'em right!
Awon 'GBESE' MILLIONAIRES AND BILLIONAIRES!
He who goes a-BORROWING. . . goes A-SORROWING!

I think I agree with you! If the country really had all the billions in the so called foreign reserves, sovereign wealth fund, and the economy is doing so great as Iweala and retardeen will have us believe, why can't a mere $1.1 B be sourced from there? The guy 'Yuzedo' summarized the scam loan very well (paraphrase is mine for emphasis):

1) China gives Nigeria $1.1 billion loan
2) Nigeria must give Chinese companies contract with the money.
3) Nigeria MUST then pay back China $1.1 B + interest