bestview:


They are only warming to pounce on the resources of Anambra to further enrich themselves. They have just rendered Imo state useless with heavy debt now with nothing on the ground for okorocha to show for it.

eaglechild:
I really hope that doesn't happen.
Peter Obi is not perfect but his ability to erase all the states debt despite some massive capital project is commendable.
I only wish he allowed soludo a chance.

Imo's case is indeed disturbing, APC party ideologies with debt is not at all encouraging.
I hope Anambra doesn't get entangled with debts if APC wins [/b]which is very unlikely.

eaglechild:
I really hope that doesn't happen.
Peter Obi is not perfect but his ability to erase all the states debt despite some massive capital project is commendable.
I only wish he allowed soludo a chance.

Imo's case is indeed disturbing, APC party ideologies with debt is not at all encouraging.
I hope Anambra doesn't get entangled with debts if APC wins which is very unlikely.

ballabriggs:

That one Peter Obi does not borrow, does that make it appropriate?

The fact is, being below an optimum debt level could be as bad as exceeding it. It is about optimality.

Also can you finance development in Anambra without debt? Where will the funds come from?

Fact is, to develop Africa you will need to seek finance from outside as Africa cannot meet its development finance requirements. To praise a man for not seeking debt finance could be ignorant.

eaglechild:

Really?

I am not an advocate of Peter Obi, so i wouldn't want to go singing his praises,
The facts are he is a seasoned economist, who inherited a heavily indebted state and was able to turn that around, i don't see any ignorance in commending that.
He laid an economic foundation by focusing on projects that will generate revenue, state oil refineries, breweries etc, therefore he was able to reduce his borrowing to a minimum, with this he was able to sustain his capital expenditure and clear his debts.

ballabriggs:

Yes to accelerate the development of Africa, you need debt finance from external sources. That Dubai you see today grew with a lot of debt finance. Islamic finance, bonds etc It is needed to speed-up development.

Of what use is it that he reduced debt and Anambra remains a shit hole after 8 years. What revenue are we talking about? Max at N2 billion per month. Can that meet a quarter of the States development needs? Where will the rest come from?

taharqa:

As long as those loans are Foreign loans with very low Interest Rates (and as long as the FG keeps a lid on them), I reali don't have much of a problem with it. What I generally have a problem with are Local loans with their high Interest Rates and hellish shorter Repayment period.

Institutions, Govt and Private, would need to borrow from time to time. They just need to be extremely Cautious and Smart, though; and, must make sure the monies borrowed go to only those Project for which they were met, which should be Productive Projects ab initio...

atlwireles:

You have always maintained this position, and your arguments have remained the same, regardless of the person involved.. My problem lies with the crowd coming out to defend Lagos now, but spew garbage when Jonah went to china, and basic got almost $4b at 2% interest. They cried bloody murder.

atlwireles:

You have always maintained this position, and your arguments have remained the same, regardless of the person involved.. My problem lies with the crowd coming out to defend Lagos now, but spew garbage when Jonah went to china, and basic got almost $4b at 2% interest. They cried bloody murder.

eaglechild:
It is double standards.
And no one has been able to answer the questions I asked.
I believe Lagos' economy should be self sustaining.
And not sinking deeper in debt.

eeeeeee:
The bigots have all run away and the mods have sworn not to put it on the front page.

Not surprising.