I am 100% in support of fayose asking that China should not give Nigeria loan.

Nigeria has been taking loans for ages and where are we today after all the loans and those cancelled?

The rich keep getting richer and the poor get poorer. We borrow to invest in housing that only the rich can afford like seen in lagos under fashola.

We invest in electricity and the masses pay through their nose.

Borrowing to finance a budget that 70% goes into feeding an already overfed govt is a total waste.

If things are hard let's use the furniture used in Aso Rock in the last administration. Let's use the same cars. Let's use the same.computers that were bought last year.

Must we buy everything new every year? Let's use made in Nigeria cars etc.

We don't have money but our senators must drive 2016 land cruiser cars.

The major reason I reject the loan is that Buharis govt is not prepared and also confused. They see challenges and the only solution they have is to bring more money. Bringing more money is not the solution but fixing the systems to ensure the little we have left is not drained .

What has changed? are the senators not driving the latest cars every year?

Are we not changing all the furniture in Aso Rock every year?

Are we not spending 70% of our budget to feed the govt?

It's business as usual and this loan is just to put Nigerians in bondage . The govt has not shown any sign that we r in tough times, only the poor masses are feeling it so far.

Buharis economic team is not creative , they r as confused as the administration.

They want to borrow more,without plans of paying back.

If they have a plan to pay back, why not borrow all that we need from Nigerians through bonds and treasury bills?

They want foriegn loans, because once they borrow and chop, Nigeria will be held to pay and not them. But if they borrow from treasury bills and don't pay, that will be the beginning of the end of corruption and the long awaited revolution.

So since this loan is going to be business as usual and end in the belly of the corrupt politicians, let say no to it, until the system is fixed.

Dear #IstandwithFayose,

Public finance is far more than that. The loan PMB is processing is actually in form of counterpart funding.

What Fayose is doing currently is like affecting the good platform being prepared by this current team. For the country to grow, we must close up gaps noticed within our infrastructure.

Where was Fayose where Gej and croonnies were squandering our national resources even with oil boom.

Please, receive comprehension.
w

lameda07:
Dear #IstandwithFayose,

Public finance is far more than that. The loan PMB is processing is actually in form of counterpart funding.

What Fayose is doing currently is like affecting the good platform being prepared by this current team. For the country to grow, we must close up gaps noticed within our infrastructure.

Where was Fayose where Gej and croonnies were squandering our national resources even with oil boom.

Please, receive comprehension.
w

Nigerians can lend this govt any amount it need for infrastructure if it has a plan to pay back. What is the treasury bills and bonds there for?

Why go outside to borrow? So that they will eat and go free and Nigeria will pay. Borrow from Nigerians if you are serious and don't pay back and watch them burn ur generation.

If things are hard let's see it from those in power first.

The money from oil boom is what APC politicians used to put PMB there.

The amount of olodo's on Nairaland seems to be increasing geometrically.

OP
You have no idea about finance stick to ludo.

[size=15pt]Fayose is telling the truth, people are taking it lightly.

How can Buhari borrow a whopping $2 billion dollars in Nigeria's name and he won't include it in the budget?

He just wants to be spending it anyhow as he likes, meanwhile Nigeria will have to figure out how to repay the huge debt under low oil revenue.

Buhari is gradually killing Nigeria and we are all watching him do it and keeping quiet.

.......... Except Fayose![/size]

AZeD1:
The amount of olodo's on Nairaland seems to be increasing geometrically.

OP
You have no idea about finance stick to ludo.

Please explain to me sir, how this loan works. How china will fund Nigeria's infrastructure and we won't pay back.

How the contracts will be awarded to Chinese firms at their own cost and how we will pay back in dollars .

I really don't know anything about finance and will love to learn from you. I am sure u knw alot about finance.

Sir will the the lagos calabar rail project also be part of the funds?

I was even thinking as an olodo's that I am, that it would have been better if china gave us the 2 billion cash and we pay back, than telling us how much a project cost, do the project their way and have us pay whatever amount they tell us.But what do I knw about finance?

I am very eager to learn from u .

A genus and a mad man has one thing in common, i.e they do things to the extreme, they see and hear things we all cant comprehen.One thing I know is that the difference between a genius and a mad man is just a thin line. For now, I dont know where fAYOSE falls, only time will tell if he were a genus or a madman

mekaboy:


Nigerians can lend this govt any amount it need for infrastructure if it has a plan to pay back. What is the treasury bills and bonds there for?

Why go outside to borrow? So that they will eat and go free and Nigeria will pay. Borrow from Nigerians if you are serious and don't pay back and watch them burn ur generation.

If things are hard let's see it from those in power first.

The money from oil boom is what APC politicians used to put PMB there.

This guy, you keep going into unchartered territory, making statements you have no facts to back up. where will Nigerians get the kind of money the govt needs? Then you say they prefer foreign loans because there will be revolution if they don't pay back local loans! you are just a joker! when there were failed banks all over the place in the 90s, which revolution happened a beg?
How you can support a governor writing the president of another country is just beyond what I can fathom.

1wolex85:

This guy, you keep going into unchartered territory, making statements you have no facts to back up. where will Nigerians get the kind of money the govt needs? Then you say they prefer foreign loans because there will be revolution if they don't pay back local loans! you are just a joker! when there were failed banks all over the place in the 90s, which revolution happened a beg?
How you can support a governor writing the president of another country is just beyond what I can fathom.

My brother failed banks is nt the same as CBN, bonds and treasury bills are with central bank. This is the govt owing u and not a single bank.

Nigeria can raise enough to cover the budget if the rates of Tbills and bonds are attractive. What is the govt running on at the moment? As foriegn investors exited our money markets let the locals take over.

You and I can finance he infrastructure but a corrupt govt knows it's better to borrow from outside and let Nigeria pay than borrow from Nigerians.

mekaboy:


Please explain to me sir, how this loan works. How china will fund Nigeria's infrastructure and we won't pay back.

How the contracts will be awarded to Chinese firms at their own cost and how we will pay back in dollars .

I really don't know anything about finance and will love to learn from you. I am sure u knw alot about finance.

Sir will the the lagos calabar rail project also be part of the funds?

There's nothing to explain because it's way beyond your understanding.

Read up on counterpart funding,


PS: Even the UK went to China for high speed rails.

AZeD1:

There's nothing to explain because it's way beyond your understanding.

Read up on counterpart funding,


PS: Even the UK went to China for high speed rails.

Then u have nothing to say, you are not as knowledgeable as u sounded. Are u now comparing Nigeria to UK? In what terms are you comparing ?

Is counterpart funding free? Won't it be paid? Who will be in control of the costing and execution of the projects?

Why not borrow from Nigerians to fund it?

And this fool will call himself a graduate,no wonder he is jobless.please receive common sense and pass it to your mad fayose.

mekaboy:


Then u have nothing to say, you are not as knowledgeable as u sounded. Are u now comparing Nigeria to UK? In what terms are you comparing ?

Is counterpart funding free? Won't it be paid? Who will be in control of the costing and execution of the projects?

Why not borrow from Nigerians to fund it?

How do you think counterpart funding works?

mekaboy:


My brother failed banks is nt the same as CBN, bonds and treasury bills are with central bank. This is the govt owing u and not a single bank.

Nigeria can raise enough to cover the budget if the rates of Tbills and bonds are attractive. What is the govt running on at the moment? As foriegn investors exited our money markets let the locals take over.

You and I can finance he infrastructure but a corrupt govt knows it's better to borrow from outside and let Nigeria pay than borrow from Nigerians.

That is the point, dem never fight banks na government dem go fight? After one or two riots, once army enter street, all man go clear.

Treasury bills are short term instruments and can't really be used to fund capital projects, for bonds, not many people are investing in it now

Nigerias minimum wage is d lowest amongst all oil producing nations, but there politicians are the highest paid in the world

I am in support with #IstandwithFayose, I don't know why I have this bad feeling that nothing good will come out from this loan.

1wolex85:

That is the point, dem never fight banks na government dem go fight? After one or two riots, once army enter street, all man go clear.

Treasury bills are short term instruments and can't really be used to fund capital projects, for bonds, not many people are investing in it now

For your information once the govt fails t meet its part of the deal regarding bonds and Tbills , the investors take over all govt assets .

Billions of naira is generated from bonds monthly, if it's made a little more attractive what is $2 billion dollars?

How much have foreign investors pulled out of the market since Buhari took over? Local investors can replace that.

Let me know that as I use the infrastructure a percentage of the revenue generated comes back to me and not to china.

The govt is looking for an easy way out to support their luxurious life style.

AZeD1:
How do you think counterpart funding works?

I don't knw tell me.

mekaboy:
I don't knw tell me.

The project costing was done by Nigeria.
The project was initiated by Nigeria.

Was does China get in return, they are guaranteed to export things that can't be sourced locally. So while the project creates job in Nigeria, it also creates job in China.

Like someone has said earlier, you can't use treasury bills because they are short term instruments.

You also can't borrow such a large amount from Nigeria because it's cheaper ( same reason why Dangote went to China).

I don't take people like this seriously because where we're they when GEJ was borrowing $1billion only for it to be scammed from him in the name of boko haram amnesty........ or when $2.1billion arms cash was being shared by GEJ and hid cronies.

They were hailing him as the best ever then.

ba7man:
I don't take people like this seriously because where we're they when GEJ was borrowing $1billion only for it to be scammed from him in the name of boko haram amnesty........ or when $2.1billion arms cash was being shared by GEJ and hid cronies.

They were hailing him as the best ever then.

And you got the $1 scam information from where?

$2.1 billion was shared and what we r trying to recover is less than 2.1 billion naira? Get your figures right.

mekaboy:


Nigerians can lend this govt any amount it need for infrastructure if it has a plan to pay back. What is the treasury bills and bonds there for?

Why go outside to borrow? So that they will eat and go free and Nigeria will pay. Borrow from Nigerians if you are serious and don't pay back and watch them burn ur generation.

If things are hard let's see it from those in power first.

The money from oil boom is what APC politicians used to put PMB there.

why borrow from Nigerians at double digits when China will give you in single digit.

ba7man:
I don't take people like this seriously because where we're they when GEJ was borrowing $1billion only for it to be scammed from him in the name of boko haram amnesty........ or when $2.1billion arms cash was being shared by GEJ and hid cronies.

They were hailing him as the best ever then.

ask them ooo.

mekaboy:


And you got the $1 scam information from where?

$2.1 billion was shared and what we r trying to recover is less than 2.1 billion naira? Get your figures right.

You obviously weren't following the papers back then.

AZeD1:

The project costing was done by Nigeria.
The project was initiated by Nigeria.

Was does China get in return, they are guaranteed to export things that can't be sourced locally. So while the project creates job in Nigeria, it also creates job in China.

Like someone has said earlier, you can't use treasury bills because they are short term instruments.

You also can't borrow such a large amount from Nigeria because it's cheaper ( same reason why Dangote went to China).

Projects were not costed, all that was done was mere estimate which you know how corrupt politicians do their estimate. Like spending 78 million naira for a website, and hundreds of millions for borehole. That's what is done and presented in the budget.

This makes up about 6.8 trillion. Now from this padded estimate we say we will need extra 2 trillion to do all these padded stuff we have here.

Now china says bring those your padded projects and let's do them at that paded amount u put up there. When we finish you owe us that padded amount u put in there.

So let's say china decided to build that 78m million naira website at the cost of 500k, Nigeria is still owing 78 million abi?

Who cares, after all the website is nt generating money so if we don't find a way to pay for it, let the next govt carry the headache we are out.

ba7man:
You obviously weren't following the papers back then.

Was it not in the same paper that 5k was promised unemployed youths? Or school children had 1 meal a day? 2 million youths employed a year? Chibok girls rescued in 6 months?

Serious govt could fix electricity problem in 6 months?

All that was in the paper? but what is on ground. From all the money efcc is chasing after in the dasuki case, is it up to 3 billion naira?

mekaboy:


Was it not in the same paper that 5k was promised unemployed youths? Or school children had 1 meal a day? 2 million youths employed a year? Chibok girls rescued in 6 months?

Serious govt could fix electricity problem in 6 months?

All that was in the paper? but what is on ground. From all the money efcc is chasing after in the dasuki case, is it up to 3 billion naira?

The money APC thought they could achieve that with has been looted by GEJ and your heroes.

Chibok girls rescued in 6months? If only your hero had acted way earlier, rather than defending corruption up and down.

$2. 1billion dollars was shared by your hero GEJ to ensure his re election .... no one has denied it. I personally know people that recieved $1million from this money.

Face it, Buhari is not the problem, GEJ left us in such a deep mess, all your English speaking and failed logic can't comprehend.

ba7man:
The money APC thought they could achieve that with has been looted by GEJ and your heroes.

Chibok girls rescued in 6months? If only your hero had acted way earlier, rather than defending corruption up and down.

$2. 1billion dollars was shared by your hero GEJ to ensure his re election .... no one has denied it. I personally know people that recieved $1million from this money.

Face it, Buhari is not the problem, GEJ left us in such a deep mess, all your English speaking and failed logic can't comprehend.

You are right Bro, We are in this mess because Amechi would not allow Gej to save because he needed the money to install buhari. Now buhari is in, blame GEJ.

masseratti:
why borrow from Nigerians at double digits when China will give you in single digit.

Good question. If you borrow from Nigerians u won't develop that website for 78m you will develop it for 500k and save 77.5m. So paying the double digit to Nigeria won't be an issue if you are serious.

But if u borrow from China, you can do that website for 78m and pay single digit interest. Which is better? to borrow at double digit and save 77.5m or pay over 78m at single digit?

mekaboy:


You are right Bro, We are in this mess because Amechi would not allow Gej to save because he needed the money to install buhari. Now buhari is in, blame GEJ.

You forgot to mention the Militants with juicy contracts,.......... Political affiliates that were buying private jets after scamming the govt......... the unprecedented Naira rain just before the elections,........... the diverted military allocations,.......... those sub standard projects inflated to outrageous levels and tagged "Transformation",......... the continuous subsidy frauds used to bleed the nation of billions of dollars.


The governors saw all this and demanded for their share.......... and the weak, Lily livered GEJ rolled over for them.

Maybe he thought he would win their support by doing that. Everyone used him as a doormat.