three:


Sadly, no real alternative on this specific issue. The Nigerian "establishment" has been manipulating the masses from day one.

We need to at the very least break that cycle of manipulation TODAY in anticipation of stellar leadership in 2019.

Badonasty:


obj wiped our debts....pmb wan kill us with debt

princetom1:


So it's a good thing to owe?

In reality, this is very different to compare, over there, they do it with clear vision and plan and the impact is seen and felt bt over here... We knows how it all end...

bishopkay:
Another money that would be looted, stacked in apartment houses, used to cut grass and shared by the nnpc board and presidential cabinet.. .
Kwantinu.

For the idiots applauding this move, kindly note it took over 15 years to get out of the debts IBB put Nigeria into. Means your children and probably children's children would pay these loans been borrowed indiscriminately

Cjrane2:
Just piling on debts for the next generation.
Yet they won't have oil or other resources we have today to help them pay these debts.

A truly wicked generation we have today.

9jakohai:


We got out of that debt cycle in 2006 at a high price...OBJ paid 67% of the debt...which most people criticized by the way.

IBB's leadership was inept...but the reason why we got into debts then was because of the jamboree spending during the 1973-82 OIL Boom...so not entirely his fault.

The problem with our economy is that it is heavily resource dependent...meaning that we rely heavily on importation using the revenue that we earn from selling raw materials on the international market. Once prices fall...things get hard fast.And thanks to over-importation, our manufacturing sector...cannot create jobs....which is why Nigeria has a chronic unemployment problem.

bishopkay:


So I ask what exactly is this loan for because apparently, we don't need it

GavelSlam:


How would you know how it always ends when this government has only been in power for 2 years?

GavelSlam:


The USA, UK, France owes in the trillions please tell us who would repay those debts.

9jakohai:


So what is the alternative then?

Oil, our major earner is at $60 per barrel. We need it to be at $120 per barrel to meet daily obligations without borrowing. And even at high oil prices, GEJ borrowed.

The alternative is that we raise taxes to as high as 50% of your earned income, remove subsidies, restrict spending to power, technical education and transport, increase school fees , power bills, deregulate the oil downstream sector to as much as selling fuel for n200 PER LITER, and so on.

And even then , we still have to take loans.

I agree that this govt is lacking ideas....coherent ideas....but just don't critique for the fun of it.

Spylord48:
Is one thing to borrow and is another thing to utilized the borrowed money. I hope it won't end up in the pockets of few individuals as usual.USA is among the world indebted states yet the citizens arent complaining much because they are seeing the money been put into use.But in a state somewhere in the western part of Africa,billions have been borrowed yet there is nothing to show for it.

lacidi:
"It's" not "Is".

GavelSlam:


The USA, UK, France owes in the trillions please tell us who would repay those debts.

GavelSlam:
Good.

Greater things ahead for Nigeria.

9jakohai:


You have a better idea?

When folks like moi were angrily blaming the last govt for not saving for a rainy day, you people told us to keep our mouths shut.

Part of the problem is that the last govt did not take advantage of the last oil price increases to 1.save massively 2.save massively 3. thoroughly remove subsidies at all levels.(The last govt and the one before it also tok loans too)

It is a mistake we keep making....and one this govt is bound to repeat now oil is on the upswing....saving only when things get hard.

If you want us to stop taking loans....vote in a govt whose agenda would be taking us off oil and other resource dependency in 2019.

9jakohai:


So what is the alternative then?

Oil, our major earner is at $60 per barrel. We need it to be at $120 per barrel to meet daily obligations without borrowing. And even at high oil prices, GEJ borrowed.

The alternative is that we raise taxes to as high as 50% of your earned income, remove subsidies, restrict spending to power, technical education and transport, increase school fees , power bills, deregulate the oil downstream sector to as much as selling fuel for n200 PER LITER, and so on.

And even then , we still have to take loans.

I agree that this govt is lacking ideas....coherent ideas....but just don't critique for the fun of it.

GavelSlam:
Good.

Greater things ahead for Nigeria.

Agentsmith002:
. look at them. the real enemies of Nigeria.those who have sworn never to allow us move forward in this dungeon called Nigeria

they are in this order;

Gavelslam

Ngeneukwuenu

Sarrki

and other Yoruba Muslims that i cant mention now

GavelSlam:


This one is looking for attention.

9jakohai:


So what is the alternative then?

Oil, our major earner is at $60 per barrel. We need it to be at $120 per barrel to meet daily obligations without borrowing. And even at high oil prices, GEJ borrowed.

The alternative is that we raise taxes to as high as 50% of your earned income, remove subsidies, restrict spending to power, technical education and transport, increase school fees , power bills, deregulate the oil downstream sector to as much as selling fuel for n200 PER LITER, and so on.

And even then , we still have to take loans.

I agree that this govt is lacking ideas....coherent ideas....but just don't critique for the fun of it.