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Nairaland Forum / Nairaland / General / Politics / APC Controlled Lagos State Has Both The Highest External & Internal Debts - PDP (17981 Views)
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Re: APC Controlled Lagos State Has Both The Highest External & Internal Debts - PDP by jpphilips(m): 9:49am On May 26, 2015 |
chronique: who do you think you are giving monetry policy lectures when you cannot even ask the right questions? Metu told us that Nigeria has debt dating from 1960, how can you believe that nonsense? does metuh know what Nigeria's credit rating was in 1980? Does metuh know the purchasing power of the naira in 1980? How could all these be possible if the economy was debt ladden? i still rem vividly that in 1978, Nigerian economy was referrenced world over as a ''boom'', how was that possible if the economy was debt ladden? What was Nigeria's credit rating in 2004 after the debt relief? How could that be possible if we had outstandings from 1960? Let us for the sake of arguement agree with your figures OBJ left behind, over $60b in just 4yrs with nothing to show for it is abysmal, never mind that oil price was good within the period under review save for last year August. State Govt internal debt is never the problem, it is the external debt that is the issue here and it is guaranteed by the FG, it is irresponsible of the FG to guarantee loans for governors who have shared Excess crude revenue, taken their Federal allocations, if not for political patronage, what else explains this madness? |
Re: APC Controlled Lagos State Has Both The Highest External & Internal Debts - PDP by 12345DKO(m): 10:16am On May 26, 2015 |
porka:Yes. Because Lagos State will be part of his administration's responsibility other states included. |
Re: APC Controlled Lagos State Has Both The Highest External & Internal Debts - PDP by jpphilips(m): 10:20am On May 26, 2015 |
peedeeasobie: clown!! i doubt if you know what a loan guarantor is. your guarantor is in a position to stop you from acessing any loan as a state, it is the irresponsibility of the FG that put Lagos in bad shape. amaechi applied for an ADB loan for a water project during the cholera out break in rivers state, the moment he joined APC, iweala refused to guarantee that loan, Amaechi made some political concessions after a while and voila!! Loan was guaranteed!! back to Lagos, FG is aware that Lagos has the biggest IGR in the country. lagos has the 4th highest federal allocation, would ave been highest if not for 13% derivative. lagos was amongst the states that benefitted from the ECA. So, tell me Mr objective, what justified the FG to guarantee foreign loans for them? If lagos wants to build Eko atlantic over night, or even turn to New wark, they can tax themselves to death for all i care, the FG was wrong to guarantee over $1b for Lagos at the expense of the federation. iweala, Metu are in the same dumb league as Jonathan, no diff. |
Re: APC Controlled Lagos State Has Both The Highest External & Internal Debts - PDP by chronique(m): 10:39am On May 26, 2015 |
There goes another ignorant Nigerian who doesn't know,but behaves like He knows. I would have expected that you'd take yyour time to do just a lil research before blurting out to counter me with your uninformed opinion. Majority of you guys here,suffer from the same problem(laziness to find out proper info before talking). Anyways,I'd give you a link from the DMO so you don't have to query my analysis again. It's a shame that you're trying to talk like you know,but do not even realize that Nigeria started having foreign debts even before independence. You still have a lot to read and know about your country cos you presently don't have enough info to make an arguement with me. Origin of Nigeria's debt according to the DMO. http://www.dmo.gov.ng/ardrnigeriaexternalanddomesticdebt.php Finally,stop spreading that ignorant view of yours that GEJ accumulated over 60bn dollars debt in 4 years;it is wrong. Thank you. jpphilips: |
Re: APC Controlled Lagos State Has Both The Highest External & Internal Debts - PDP by peedeeasobie(m): 10:46am On May 26, 2015 |
jpphilips: I can see you just came across the word 'clown' for the first time, kindly find out how and when to use it in a sentence! 'Amaechi made some political concessions...', pls do tell the concessions he made. So, the FG is dumb for guaranteeing the loan but Lagos state is not dumb for asking for it? If FG had refused, you will still run to nairaland to cry foul! The fact is, whatever APC does whether good or bad will always be right to you and whatever PDP does whether good or bad will always be wrong to you! Mr. Non-objectivity. 1 Like |
Re: APC Controlled Lagos State Has Both The Highest External & Internal Debts - PDP by chronique(m): 11:00am On May 26, 2015 |
Exactly. I don't have a problem with people supporting parties;no. I only have problems with people who always see the APC as good and the PDP as bad;people with such views are usually far from being intelligent. We all know politicians are all the same but when a set of people try to make those in one group good and the others in another group bad,it tells you how insincere and unintelligent such folks are. peedeeasobie: 2 Likes |
Re: APC Controlled Lagos State Has Both The Highest External & Internal Debts - PDP by otr1(m): 11:03am On May 26, 2015 |
Forwetinnah:...and GEJ incur how much of that $63 billion? |
Re: APC Controlled Lagos State Has Both The Highest External & Internal Debts - PDP by jpphilips(m): 11:05am On May 26, 2015 |
chronique: First, i will implore you to stop grandizing yourself with the pseudo toga of ''Analysis'', a capability you lack. Your link from the DMO website confirmed that 1973 - 76 boom left Nigeria with a ''small'' debt, a debt by reference could be termed inconsequential because they were soft loans. your source again confirmed that Ngeria's first major loan was 1978, and it was for 3yrs, your source confirmed it was cleared up by 1981 boom. now tell me, how can metu tell you at your undeserved age that some of the debt jonathan has predates 1960 and you believe him? your link equally confirmed that within Jonathan's 5yr reign, Nigeria's debt profile has skyrocketed judging from where OBJ left off, that is a fact!! You can keep your Kangaroo Analysis to yourself. |
Re: APC Controlled Lagos State Has Both The Highest External & Internal Debts - PDP by Nobody: 11:06am On May 26, 2015 |
BabaO2: be it 1 kobo or 30 naira.. it is still a debt and by International Accounting Standards,it should be clearly noted. Osinbajo blissfully ignored this and went on to strongly present FACTS now distorted by that omission - He is a professor not an illiterate.. He should not be found wanting - is this what to expect from the CHANGE Leadership going forward? Let us not forget Lagos State has not domesticated the FOI Act. why is it difficult to tell the public (whom you claim to serve) how you spent their money? is it yours to spend? is it your personal property?.. ohh I forget, one God-father claims ownership of Lagos and from all accounts.. he does including other states. |
Re: APC Controlled Lagos State Has Both The Highest External & Internal Debts - PDP by bobgentle: 12:14pm On May 26, 2015 |
Genius100:for once speak the truth : who were they directly inheriting the debt is it not from pdp led fed govt. may God help us from APc fake change / chain. |
Re: APC Controlled Lagos State Has Both The Highest External & Internal Debts - PDP by mbulela: 12:19pm On May 26, 2015 |
BackDatAssUp: try and use your own advice. During periods of austerity, you reduce recurrent expenditure not borrow to maintain a life of affluence. You will not hear anyone complain about borrowing to furnish capital expenditure as these yields results in the long run. Who in their right senses borrows to fund recurrent expenditure? Are we Greece? |
Re: APC Controlled Lagos State Has Both The Highest External & Internal Debts - PDP by ossy4rill: 12:23pm On May 26, 2015 |
Everything Olisa Metuh said is absolutely true. Osinbanjo only told us Nigerias debt but refused to go into details in a bid to sway the mis-informed. The fact that we have very many full and partial illiterates in Nigeria has played in favor of APC. Who said Buhari and Obasanjo completely cleared all the debts in their time. Obasanjo ensured that majority of Abacha debts were forgiven because it would have taken the country years to pay up. The debt quoted by the VP is accumulated debt form 1960. If supporting a political party makes you loose your ability to think, compare statements and make research then i pity Nigeria. Every incoming government in Nigeria has inherited debt and its how you manage the debt that counts. SPECTATORS ARE THE BEST PLAYERS IN EVERY TOURNAMENT. EVERY FOOTBALL GAME LOOKS SIMPLE FROM THE OUTSIDE, THE FANS ALWAYS SEEM TO KNOW WHAT A PLAYER SHOULD HAVE DONE IN ORDER TO SCORE. YOU ARE NOW ON THE PITCH LETS SEE HOW WELL YOU CAN PLAY. |
Re: APC Controlled Lagos State Has Both The Highest External & Internal Debts - PDP by Nobody: 8:46pm On May 26, 2015 |
ossy4rill: A sizeable majority are illiterates |
Re: APC Controlled Lagos State Has Both The Highest External & Internal Debts - PDP by pallyking(m): 9:33pm On May 26, 2015 |
BackDatAssUp: You are misinformed because Shale oil from American and sand oil from Canada meant that America was self-sufficient. The reason Saudi Arabia gave for over-production was to make Shale oil too expensive to produce and thereby raise the price of crude oil. The other unannounced reason was to punish Russia and Iran; but in doing so, they cared not whether Nigeria or the other oil countries suffered or not. Saudi Arabia is able to do this because it has so much foreign reserves, no foreign debt and can make large foreign income from foreign visitors making the haji pilgrimage every year. Given the above, one would think that it was time Nigeria stopped wasting scarce resources going on pilgrimages to Israel and Mecca because God dwells in each and everyone of us and that hard cash can be put to best use in Nigeria. |
Re: APC Controlled Lagos State Has Both The Highest External & Internal Debts - PDP by jpphilips(m): 11:23am On May 28, 2015 |
peedeeasobie: I dont expect you to have sense, Lagos and FG are equally guilty, FG had the power to stop Lagos but never did, jonathan is weak, OBj stopped Tinubu's lagos from accessing Federal allocation for 7 newly created LGA, even though Osibanjo won obasanjo in court, we are glad that OBJ put up a fight. Governors agitated for the sharing of the ECR, Obj fought them to a stand still, just a little pressure from Amaechi, jonathan gave up the ECR, see where it has landed us. |
Re: APC Controlled Lagos State Has Both The Highest External & Internal Debts - PDP by peedeeasobie(m): 1:07pm On May 28, 2015 |
jpphilips: 'we are glad that OBJ put up a fight', pls you and who? Show me where you condemned Tinubu for creating additional LGAs. Show me where you condemned Fashola or Ameachi for borrowing too much! We are not ignorant of ur type of opposition. An opposition that condemns every act of Pdp but praises or keeps mute in every act of apc. The next time you talk about sense, kindly ask ur self if you have any brain. |
Re: APC Controlled Lagos State Has Both The Highest External & Internal Debts - PDP by ONYX5(m): 7:33pm On May 28, 2015 |
ramdris:and the only mistake your dad did was not using a condom |
Re: APC Controlled Lagos State Has Both The Highest External & Internal Debts - PDP by veralech(f): 8:00pm On May 28, 2015 |
Only a proper probe can make the government of GEJ and PDP account for those borrowings and what they were used for. |
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