Please does this mean that Nigeria is going to the world bank to borrow money for the purchase of the eleventh presidential jet? Is this the austerity measure that Madam Ngozi Okonjo-Iwealla is talking about?

[quote author=mynairatime post=29415419][/quote] Who hell dey edits my quotes. Jon ole, u still want borrow? na ur family we go sell settle the debt. In ur regime alone ur debt potifolio rised to 10 trillions naira. OLE OLE

koredeolanrewaju:
Am just crying for our Govt borrowing from outsiders when we have our CBN functioning and that can print for as many monies as possible..y borrowing? Let them print for this project to be executed instead of debt financing. Too much nah..crazy pple. God will help us in this country.

What is this 1 saying

Now the oil price has crashed, they resort to borrowing to support their ostentatious lifestyle.
Its evident that huge amount of money will be spent on rigging the election.

Will they even deliver the project they re borrowing for ? still the same corrupt people

simpleseyi:
Please does this mean that Nigeria is going to the world bank to borrow money for the purchase of the eleventh presidential jet? Is this the austerity measure that Madam Ngozi Okonjo-Iwealla is talking about?

He wants to use the money to buy one more jet for oritsjafo. When orijafo was talking cant use this that re rased up one finger? Dont u understand that he was sending signal to jonal that we wants one more jet. Dont forget that jona was the one that bought the ond he uses for him.

How come borrowing was bad economics when Iweala was working for OBJ , but good economics under GEJ?

75% of borrowed funds will be chopping money- recurrent expenditure-- money for the boys.

Permit me to quote from one O'SEUN OGUNSEITAN

"Sir, so that your children will meet a Nigeria, tell the truth for once, even if for once. Gen. Abacha and Gen Obasanjo did not borrow a dime. If it is true they stole money as you say, it means they stole from what we have. Bola Tinubu met a Lagos with and IGR of less than N2 billion. He got the IGR up to N24 billion before he left office. Again if Asiwaju Tinubu stole, like you said, he stole from a revenue he created.

Please compare these to President Jonathan who wiped out a $32 billion excess crude Oil saving he inherited from Gen. Obasanjo's administration. President Jonathan's administration has exhausted more than two thirds of the $43 billion foreign reserve he also inherited from Gen. Obasanjo. This same administration had been earning and wasting more than $30 billion every year for the last four years, from unbudgeted excess crude Oil sales revenue. The administration received more than $1 billion cash recovered from Gen. Abacha.This administration sold and received payment for every thing owned in this country by old ECN, old NEPA, and old PHCN combined for about $20 billion.

Yet the adminstration could not get $1 billion dollars to import arms for the military to effectively fight Boko Haram. They borrowed it and now they want to borrow $5 billion from the world Bank for infrastructural projects. Whereas the lady economist who is now saying we should borrow money, was the same person who convinced Obasanjo to pay more than $35 billion in cash to wipe off all we owed just six years ago. Back then, Dr. Okonjo Iweala, said we will be better able to plan our economy when we are not owing. The N35 billion we paid out would have earned another $35 billion, if we had used the money then, to build two or three refineries even outside Nigeria instead of paying out the hard earned cash. Nigeria alone has imported more than $10 billion worth of refined crude Oil products in the last six years.

They claim Nigeria is now broke, but just three weeks ago, they awarded a N9.5 billion contract to import kerosen stoves into Nigeria at a rate of almost N12,000 each per "cooking package", yet ther are N6,000 two burner gass cookers being sold in Nigeria currently for N6,000. Whatever we do today will certainly affect our children, either positively or negatively"

After they borrow the mony jonathan will share the money he anD his 4 wifes ngozi .Stella oduah.dizani ali madueke and dame patient

I remember when a case was made by the FG for savings from excess sales, the state governors kicked against it, their argument was "why should the children stay hungry because the father wants to save money" now we can see why

MissMeiya:


That's not his point. What happened to the money? Why is Nigeria so unprepared for the price crash? What happened to the reserves and the money supposedly saved from the subsidy removal? Why is Nigeria broke?

See this useless man called him self our prsident hmm.women from otouke knows nothing but given birth to theif killeR like uncle jona

only the NLC can save this country.


a total nation wide strike until senators cut their pay. until fg diversify from oil. until corruption is destroyed.

Obinoscopy:
What miracle did he achieve concerning the economy?

go bk to history and check d inflation rate at d time GMB assumed office and when he exited.

Obinoscopy:
What miracle did he achieve concerning the economy?

Buhari took over nigeria in d worst economic recession in our history. d thieving politicians of d NPN d ancestor of d current rabidly corrupt PDP looted d nation to bankruptcy to d extent dat no one would borrow d heavily indebted Nigeria any more money. There was no food, no money. Soap, milk, sugar etc popularly called essential commodities disappeared from d shelves just like in Zimbabwe. d federal govt could not pay staff salaries. Few states were able to apply d IMO FORMULA - (half salary) pioneered by Kalu Idika Kalu d then Imo state comm 4 finance. Multinationals like kingsway, UTC, PZ etc left d country. Daily more people became unemployed. In short d economy collapsed.
When GMB took over he paid a huge part of d external debt incurred by d thieving politicians, d rest of which OBJ paid recently . He rejected d IMF loan & its slavish conditionalities. He refused to devalue d naira & thru economic ingenuity he kept d inflationary rate between 3-5% & d exchange rate at $1 to 1 naira. He reversed d rot of d Shagari years & made d economy & d country buoyant again.

Horlawoomey:
There won't be need for all these if only Aunty Ngozi can find the missing $20 billion.

You are my person. I was scrolling down to remind them of the missing $20bllion when I saw your post. That money when found shall be more than enough to finance revenue short fall.

Having spent six years as president and nothing to show for it ,the clueless President Nigeria has ever had is relocating his family to the UK capital for lack of insecurity . How does that sound and some stupid fools will come out and say its good luck till 2019. May turnder strike all of you and every good thing you everly wish for.

tonte:
I remember when a case was made by the FG for savings from excess sales, the state governors kicked against it, their argument was "why should the children stay hungry because the father wants to save money" now we can see why

So where are the savings? That was and still is the question.

It had about $1bn last time I read anything about it, and I think Oshiomole was saying something about a missing $2bn that the balance ought to have been $3bn...anyways I think it's all politics

MissMeiya:


So where are the savings? That was and still is the question.

yemionline:
We have so many other mineral and natural resources to tap into. why we choose to depend solely on crude oil still remains a mystery to me.

We are Nigerians and we are inpatient. We love the fast money crude oil brings. Crude oil the curse for the developing world.

chaloner:
may your 2015 b like 1983 amen c backwardness

Don't get it twisted. d situation in 1983 is about to repeat b4 our very eyes. b4 Buhari took over in 1983 d politicians of d NPN, d ancestor of d current PDP looted d country to bankruptcy to d extent dat no one was willing to borrow d heavily indebted Nigeria any more money. GMB came in & paid part of d debt incurred by d thieving politicians, d rest of which OBJ paid-off recently. No patriot will pray dat d NPN scenario of 1983 should play out in 2015.

tonte:
It had about $1bn last time I read anything about it, and I think Oshiomole was saying something about a missing $2bn that the balance ought to have been $3bn...anyways I think it's all politics

¬_¬

Imaginary money. I didn't ask how much it is hypothetically, and I asked WHERE IS IT. Three times, actually.

Obinoscopy:
What miracle did he achieve concerning the economy?

ask him o. Nigeria and miracle mentality. Miracle of changing the global oil price.

So essentially Federal government consumes all that was generated both from oil and none oil revenues(,instead of reducing govement waste and reduce the salaries af the executive and National Assembly members as it hasbecome unrealistic in view of the prevailing circumstances like Yar Adua did,)while both the recurrent and debts services required 84% of the budget. This was the reason why OBJ REMOVED HER FROM THE FINANCE MINISTRY. What a waste of four years with this woman.

richybanky:
3years ago, Dr. Ebele Jonathan threw Nigeria in confusion and economic hardship by removing the subsidy on fuel... Oga jonathan in his usual manner of lying with gentility told nigerians that the economy was ending for the rocks,that subsidy removal was the only panacea... Three years after, nothing has changed, nobody has felt the effect of the money saved from subsidy... This singular pain, deceitfully inflicts d on the masses is enough to reject Mr.Jonathan at the poll in the coming election... GEJ is a 'bad product' that is very difficult to advertise/sell...Nigeria has never being this stagnant since 1999.. Obasanjo was known for fighting corruption by institutionalising EFFC even if it was carrot and stick method, He was concerned for the health of his fellow citizens by putting in place NAFDAC..He changed the face of communication in Nigeria and many more... Late Yaradua was known for amnesty... Abeg, what is President Jonathan known for?

cluelessness,stealing is not corruption

Ayekotoo:
Buhari came in 1983 to kick out a clueless civilian govt that was sailing the ship of the country towards a water fall. He did miracle in just 20 months. Now he is coming again as a civilian president to resue us from this financial terrorist called Ngozi Okonjo Iweala. 2015 will be like 1983 again.

A nation that budget of almost 90% recurrent expenditure in the current 2015 fiscal year MUST borrow. they should not deceive us that the loan is for infrastructure development but POLITITIANS' DEVELOPMENT. .. a visionless. leader and financial terrorist

abdulll6afh:
See this useless man called him self our prsident hmm.women from otouke knows nothing but given birth to theif killeR like uncle jona

stop insulting innocent village women who are also affected like u,it doesn't increase ur bank account when u insult people. And speak coherent english next time,happy new year

correctguy0900:


go bk to history and check d inflation rate at d time GMB assumed office and when he exited.

I see you a a FoooooooooL, cos u want use inflation rate to divert d issues at hand. I see u gaining from this corrupt govt.... just zip ur mouth if u dnt hv anything to say. . big fool

yesir:
I see you a a FoooooooooL, cos u want use inflation rate to divert d issues at hand. I see u gaining from this corrupt govt.... just zip ur mouth if u dnt hv anything to say. . big fool

kai, stop insulting me, I am not ur mate, I am actually trying to point out GMB's significant impact in 1980s inflation and not wot u thought kid. I am pro change

Borrowed borrowed borrowed every time.

That means there is no difference between havard trained and different colleges of education trained in naija.

spoiling jonathan govt

Obinoscopy:
What miracle did he achieve concerning the economy?

ask google,,,,,,

Do you know what the impact of the CBN printing money is? The Nigerian economy is not resilient enough to withstand the impact of that especially on light of falling government revenue from oil prices.

Nigeria is already suffering from devalued currency and high inflation and interest rates. Printing money will have more adverse effects.


http://www.economicshelp.org/blog/634/economics/the-problem-with-printing-money/

koredeolanrewaju:
Am just crying for our Govt borrowing from outsiders when we have our CBN functioning and that can print for as many monies as possible..y borrowing? Let them print for this project to be executed instead of debt financing. Too much nah..crazy pple. God will help us in this country.

Change is all we need