jomoh:


No one is a fool here and they recognize the fact that one has to be weary of the Chinese loan but here are the real point the guy made to counter your Aunty you’re so much willing to lick her behind.

1. The only pitfall with Chinese loans is when you’re unable to pay back they takeover the project as their own(has happened in some other African countries) however, the infrastructure has been put in place and they won’t remove it.

2. The West don’t care if you use the loan for the purpose it is meant for. They don’t care if the money is embezzled or not. That is why they keep giving loans to corrupt regime of GEJ because they more you embezzle the more you’re unable to pay and the more enslaved you become.

3. The Chinese don’t deal with thieves, they put their money where their mouth is and make sure the loans are used for the purpose they’re meant for.

4. This is the most dangerous part of the western loan. The Chinese don’t require the government to retrench its civil Servants when they default or are unable to pay up. The West on the other hand as part of its loan conditions will require the government to retrench Ita civil servants.

The bottom line is that, everyone recognize that China is not Santa Claus but their intention is far more genuine and open than the west’s. Even the west recognize this and they fear China taking over but with lesser or no intention to enslave that is why they’ve being in a panick mode since the China-Africa summit.

They know their milking cows are about to be set free. If not when was the last time a British PM or a German chancellor or French President visited Africa let alone in the same year.

Unfortunately for them and fortunately for Africa, their leader(the US) is under the leadership of a mad man.

Almaiga:
This is how they behave Online, they discredit every good thing Buhari does. This woman has been wailing since Baba refused to appoint her in his administration.
With her big mouth like Trailer tire, that serves her right.

Obi Ekwesele and IPOB right now.

knowledgeable:


My brother, Igbos are blessed uniquely....they lead in Education, well travelled(importing & exporting all around the world), and this is no chest beating bro.

Now to get back to the point. All this global institutional recognized extraordinary woman was trying to educate you fools is to think strategically and to understand aspect of Chinese loans that might not be too pleasant because she has first hand experience. It doesn't come across to me that she is defending the bretten wood institution , but rather comparing attributes between Chinese loans/Western loans. Every African including elites like her in Africa understand, Africa may be entering into her golden age because of China involvement in Africa including how they package their loans in Africa........and yet debt burden that may finally strangle Africa may just be behind the horizon. This is not a good time in Africa to talk tribal politics(especially Igbo/Yoruba) because you've approach a cross road.

SIRTee15:

I phone is not made in China, rather it's assemble in china....
The brain work behind the concept n design is in silicon valley.....
Chinese economy is based on mass production n cheap labour.....
That's why everybody love to manufacture in china because it's cheap ...
Let's wait for the days of automation n 3-D printing, let's see if China will be able to sustain it's economic growth despite the above....
Destroying/distorting market price of products by selling way below production cost to undercut your competitors is negative economy....
Look at what they did with steel n solar panel....
This is the main reason most African countries can't even embark on any manufacturing capacity...

jomoh:


No one is a fool here and they recognize the fact that one has to be weary of the Chinese loan but here are the real point the guy made to counter your Aunty you’re so much willing to lick her behind.

1. The only pitfall with Chinese loans is when you’re unable to pay back they takeover the project as their own(has happened in some other African countries) however, the infrastructure has been put in place and they won’t remove it.

2. The West don’t care if you use the loan for the purpose it is meant for. They don’t care if the money is embezzled or not. That is why they keep giving loans to corrupt regime of GEJ because they more you embezzle the more you’re unable to pay and the more enslaved you become.

3. The Chinese don’t deal with thieves, they put their money where their mouth is and make sure the loans are used for the purpose they’re meant for.

4. This is the most dangerous part of the western loan. The Chinese don’t require the government to retrench its civil Servants when they default or are unable to pay up. The West on the other hand as part of its loan conditions will require the government to retrench Ita civil servants.

The bottom line is that, everyone recognize that China is not Santa Claus but their intention is far more genuine and open than the west’s. Even the west recognize this and they fear China taking over but with lesser or no intention to enslave that is why they’ve being in a panick mode since the China-Africa summit.

They know their milking cows are about to be set free. If not when was the last time a British PM or a German chancellor or French President visited Africa let alone in the same year.

Unfortunately for them and fortunately for Africa, their leader(the US) is under the leadership of a mad man.

ashjay001:



Yeah! Tribal politics, issa nono!


What do u expect someone that has worked for a brettonwoods institution n makes her living from contacts, related to them?

All d loans we've received from them, from eons ago, where are d commensurate infrastructures?

If something bad, e bad!

Ovamboland:


She's a professional no doubt, but to you she must be right because she's ibo.
You couldn't even raise any point why what she said is the correct position of things. But as far as you are concerned she's right because it's Oby.

papalsbuIl:
even abokii that cannot read is applauding the twitter bastard

deomelo:
Oby is basically a twitter troll and just like the other trolls and anti Nigerian elements, they always come up with ignorant rubbish and misinformation to justify their trolling ways with and to satisfy her troll followers.

God Bless that young man for lecturing that twitter troll.

madridsta007:


Adeosun that is discrediting Buhari and his anti-corruption agenda, basically giving him the middle finger with a forged “Oluwole” NYSC certificate is Igbo abi?

Sirjamo:
I know that Dr Oby knew that Chinese loans are far better than that of the IMF and World Bank, she was just looking for a way to discredit the Buhari government. Typical Igbo

Lot13:
Adeosun is doing a lot better than the agents of Bretton woods in the previous government and in the next few years, the positive effect of her performance will be clear even for the blind to see.

studentofTruth:


You made sense. Similar to what Obj did in Telecom. No rocket science. Nigeria ain't ready yet. when they are, we will know

sorepco:
Some of us r trying to learn from that somoye guy. Please dont bring that tribal rubbish here. You saw him debate her and knock her out without insulting or demeaning her.
I think i better join twitter where intelligent matured people converge....

blackpanda:
Don't blame ezekwesili. She is Igbo after all. She can't help her self from stupid ignorant comments

studentofTruth:



It's funny to see Nigerians applaud this Somoye guy simply because they felt mesmerized by the figures he's throwing. I know Nigerians hate mathematics and figures but at least common sense and basic principle would make the obvious more obvious.

Admittedly, lack of political conditionalities and supervision (if true) of utilization of the loans is a good thing. But that's just about the only good thing about Chinese loans BASED ON THE FIGURES POSTED IN THIS ARGUMENT. The key features of a good loan shows that IDA is a far better option than the Chinese loans.

The primary features of "better" loan lie in the INTEREST RATE and DURATION OF PAYMENT.

1.INTEREST RATE: Chinese 2-3 (or 3.6)%; IDA 1.25%. which is better? IDA of course. If you doubt it, I would ask you a question: if you're taking a loan would you go for a higher interest rate? I bet you won't.

2. Duration of payment: Chinese 12years, IDA 38years. which is better? IDA of course. In your personal loan I'm sure you prefer longer duration for easy payment.


NOW THE ARITHMETIC FIGURES.
He calculated a total Interest rate for Chinese loans for 12years as 43.2% (3.6x12).
Then IDA loan for 38years as 47.5% (1.25x38). If FG can payoff Chinese loans in 12 years, nothing stops them from paying off IDA loan in 12 years (NOBODY SAYS YOU CAN'T OFFSET YOUR LOAN EARLIER). Based on his calculation of "total interest rate", IDA loan for 12 years gives 15% (1.25x12). So by his own calculation, given the same duration of payment, IDA is still by far the "BETTER LOAN".
If this is your personal loan, I'm 100% certain you will prefer a loan that gives you CHEAPER INTEREST RATE and LONGER DURATION. (Even the Chinese if they can, would take IDA loan and lend it to Africa @Chinese rate and make some profit for themselves.....this is how banks make money if you know). I don't see how this appears like rocket science because it's on twitter but I understand Nigerians and basic mathematics are enemies.

NB: His calculated figures are FUNDAMENTALLY FAULTY as Yearly Interest is calculated from Balance for each Year and not from initial capital. So his arithmetically calculated total INTEREST RATE is misleading. Total interest rate of what, original capital? Absurd. But I don't want to delve into that for now unless someone asks for it. I'm sure that's why Madam Oby left him alone with his glorified ignorance well exposed on twitter.

mandate12:


Haha.. I swear. Illiteracy is a big disease. First thing a normal person should do is to check that over sabi guy's antecedents and check Oby's. Quite simple.
Dude is Tryna use wat he sees in books to compare real life experiences.

jomoh:


No one is a fool here and they recognize the fact that one has to be weary of the Chinese loan but here are the real point the guy made to counter your Aunty you’re so much willing to lick her behind.

1. The only pitfall with Chinese loans is when you’re unable to pay back they takeover the project as their own(has happened in some other African countries) however, the infrastructure has been put in place and they won’t remove it.

2. The West don’t care if you use the loan for the purpose it is meant for. They don’t care if the money is embezzled or not. That is why they keep giving loans to corrupt regime of GEJ because they more you embezzle the more you’re unable to pay and the more enslaved you become.

3. The Chinese don’t deal with thieves, they put their money where their mouth is and make sure the loans are used for the purpose they’re meant for.

4. This is the most dangerous part of the western loan. The Chinese don’t require the government to retrench its civil Servants when they default or are unable to pay up. The West on the other hand as part of its loan conditions will require the government to retrench Ita civil servants.

The bottom line is that, everyone recognize that China is not Santa Claus but their intention is far more genuine and open than the west’s. Even the west recognize this and they fear China taking over but with lesser or no intention to enslave that is why they’ve being in a panick mode since the China-Africa summit.

They know their milking cows are about to be set free. If not when was the last time a British PM or a German chancellor or French President visited Africa let alone in the same year.

Unfortunately for them and fortunately for Africa, their leader(the US) is under the leadership of a mad man.

Ojiofor:


When she joined ranks with extremists to kick out GEJ few years ago you didn't call her Igbo.

patrick89:
All the zombies should look and see where their future is headed ..

You have been played by chinko

Glink2018:


You fall my hands...

You can see somoye's chat. So intelligent..

You come here come dey abuse a person that is not equal to u in all aspects of life.

See his grammar sef.... Educated-illiterate.

deomelo:
Oby came out swinging and blowing facts all over the place, but when asked to show facts to support her rant against then FG, but like many ignorant and bubble head people arguing without facts, they shift and deflect.'

The woman basically came up short, she asked the man to ask the FG for facts when in fact the Oby made the baseless claim in the first place.

If you are going to attack and make such claims, common sense dictates that you at least have your facts lined up and ready to back up your claims with facts, like showing us specifically what Nigeria borrowed including the terms, payment details and default clauses.



Obviously, the woman spewed rubbish on twitter based made up rubbish.



.

Sirjamo:
I know that Dr Oby knew that Chinese loans are far better than that of the IMF and World Bank, she was just looking for a way to discredit the Buhari government. Typical Igbo