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Nairaland Forum / Nairaland / General / Politics / Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail (740 Views)
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Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by Blue3k(m): 3:09pm On Sep 12, 2018 |
As FG seeks $6bn fresh loan from China for Ibadan-Kano rail project Source: https://www.vanguardngr.com/2018/09/debt-owed-china-only-8-5-of-external-debt-dmo/amp/ Front page: Lalasticlala |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by chiefolododo(m): 3:11pm On Sep 12, 2018 |
Currently every Nigerian (excluding me) is owing. #150 000 , by the time buhari finish with you people, everyone of you will be owing like #10 000 000 |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by CodeTemplar: 3:29pm On Sep 12, 2018 |
This govt is showing all the signs of a vision less govt will show. 1 Like |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by Blue3k(m): 4:38pm On Sep 12, 2018 |
The comments seem to have become heightened following the recent summit of the Forum on China-Africa Cooperation and claims of potential seizure of national assets by Chinese lenders in some African countries even though the claims have not been validated. China has taken over national assets though. They just recently took over port in Sri Lanka port. Their case is a different. The other story floating around sbout Nambia is fake though. The terms China dishing out pretty light and china isnt making much money. They mainly do it for political influence. Nigeria should still be careful though these arent free gifts. I think Nigeria should be focusing on Lagos-Calabar rail line. I think the route is estimated 8 billion dollars aswell. Anyway can some explain why China would want those specific routes? Front page: Lalasticlala
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Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by Fariq: 4:43pm On Sep 12, 2018 |
We are talking of Kano Kaduna Rail while you're busy discussing Ibadan Abuja. There is nothing like Ibadan Kano rail. |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by Blue3k(m): 5:02pm On Sep 12, 2018 |
They're negotiating a loan to build Ibadan-Kano rail line. Fariq: |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by Racoon(m): 5:08pm On Sep 12, 2018 |
APC government is mortgaging Nigeria into eternal indebtedness.Nigeria arise & vote out this rudderless government. 1 Like |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by Fariq: 5:23pm On Sep 12, 2018 |
Blue3k: Which one is Ibadan Kano rail? We have Lagos Kano railway which is divided in to 4 segments. Kano Kaduna - Not yet Kaduna Abuja - Completed Abuja Ibadan - Not yet Ibadan Lagos - On going The initial plan was to start both the Ibadan Lagos and the Kaduna Kano at same time but that was not done. So now it's the turn of Kaduna Kano but they want to go for Ibadan Abuja instead. Why? They are using the word Ibadan Kano as a deception to look like it involves Kano but it's pure lie. You cannot say Ibadan Kano when we already have Kaduna rail in between. Whats left now is Ibadan - Abuja and Kaduna - Kano. This is not a separate railway but still that of Lagos Kano 1 Like |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by Blue3k(m): 5:57pm On Sep 12, 2018 |
It refer to the rest lagos Kano standard guage project. The minister stated same thing you did in a concise manner. He wouldn't have stated he didnt want to fund projects in segmets then. Are you saying the loan won't cover Kano? Ibadan - Abuja and Kaduna - Kano = Ibadan to Kano. (Unless you him to say every segment everytime. “But there are those who argue that we should not accept that, rather we should tell them to fund it in segments. This, however, does not make economic sense.” Fariq: 3 Likes |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by Omololu001: 6:05pm On Sep 12, 2018 |
Fariq:look at the way this aboki is talking, as if the money to pay back the debt can be made from kano or Kaduna. Trash 2 Likes |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by Fariq: 6:14pm On Sep 12, 2018 |
Omololu001: Shut up Afonja with your ewedu teeth. The project will pay for itself from the money obtained from the project over years. That of Kaduna Abuja is already paying for itself. |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by Fariq: 6:17pm On Sep 12, 2018 |
Blue3k: What I am saying priority should be given to Kano Kaduna instead of Ibadan Abuja. From all this rant it's clear at the end of the day the segment of Abuja Ibadan will be the first to start and only God knows when that of Kano Kaduna will begin. |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by Omololu001: 6:21pm On Sep 12, 2018 |
Fariq:setup!d aboki cow,I can't start exchanging words with a goro chewing parasite |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by Fariq: 6:23pm On Sep 12, 2018 |
Omololu001: But who are you if I am cow. You're inferior to cow. Maybe a sophisticated pig. You are cow slave because you're slave to Almajiri. Go and take ur bath and make sure u brush ur ewedu infested smelling teeth. So that it can at least look milk color, because I Kno it will never look white like this |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by Omololu001: 6:51pm On Sep 12, 2018 |
Fariq:mtcheww I don't even understand the trash you wrote. |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by Fariq: 6:55pm On Sep 12, 2018 |
Omololu001: How can you understand when your brain is filled with sand. |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by Nobody: 7:05pm On Sep 12, 2018 |
Omololu001:the main question should be if the Niger delta start bombing again, will the federal government will be able to pay back this loans,pay salary,fund capital project and also fund the war against boko haram,armed bandit,Fulani heardsmen and the Niger delta militant |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by vedaxcool(m): 7:09pm On Sep 12, 2018 |
Lies and propaganda did not stop PDP from loosing elections in 2015 neither would it help them win elections in 2019 1 Like |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by Blue3k(m): 8:36pm On Sep 12, 2018 |
Bump |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by IgboticGirl(f): 8:39pm On Sep 12, 2018 |
Hope everyone is seeing where d money borrowed is going Because when they start paying for d debt only them will pay it with their sweat 1 Like |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by yomi96(m): 9:41pm On Sep 12, 2018 |
Fariq:go school you no gree, common comprehension you no fit, 1 Like
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Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by Nobody: 9:53pm On Sep 12, 2018 |
Omololu001: Pls don’t fall for that nonentity fraud. He is 100% Igbo, one of the miscreants from a baby factory, pretending to be a northerner. |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by grandstar(m): 9:56pm On Sep 12, 2018 |
Blue3k: Frankly speaking I feel the money is a waste The government philosophy seems that if advanced nations have trains therefore by fire by force we too must have trains to develop This argument is similar to that of a steel plant The railways should not be a priority now but instead getting all the federal roads in tip top condition and ensuring 24hour power supply If the country borrowed for the above it will be money well spent? |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by Fariq: 10:19pm On Sep 12, 2018 |
yomi96: When mtn dash pig 10mb you will easily realize by their post. |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by yomi96(m): 10:30pm On Sep 12, 2018 |
Fariq: weak come back go school you no gree go. you go come dey disgrace yourself online.I am sure you are one of the zombies that climbed tree to have a glance at Mr incompetence in kano,you 've come here to defend him. well jamb form will be out soon,
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Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by Fariq: 10:44pm On Sep 12, 2018 |
yomi96: Samething I stated above. These are the type of post when mtn dash pig 10mb. |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by omohayek: 10:46pm On Sep 12, 2018 |
grandstar:The idea of prioritizing the railways isn't in itself a bad one, as the fact is that well-run railways can carry a lot more freight traffic with a lot more regularity than roads, especially roads of Nigeria's poorly-built and poorly-maintained kind; in addition, the more goods are moved by rail, the less wear and tear those roads will experience, the less frequently there will be accidents between trucks hauling goods and ordinary commuters, and the less likely traffic on the roads will be brought to a crawl (and I haven't even mentioned the environmental cost of all those trucks spewing emissions everywhere). The real problem with the way the FG is going about things is that there doesn't seem to be any great thought being given to the cost at which these lines are being built out, or to the commercial requirements for the railways to be financially self-sustaining. Regarding the cost issue, many recent articles I've seen in The Economist and the Financial Times have indicated that China's foreign infrastructure projects have been done at highly-inflated costs, sometimes up to 6 times what the going rate ought to be; this seems to have been the case with the new railways built in Kenya, as well as with several projects in Pakistan and Malaysia (where Mahathir has just very publicly cancelled at least 3 multi-billion dollar Chinese contracts). I see no reason to expect Nigeria to have fared better in this regard than any other country, especially given the rampant incompetence and corruption at all levels of Nigerian decision-making. As for the commercial basis upon which these railways are to be run, it's already glaringly obvious from the Kaduna-Abuja stretch that the FG won't be willing to allow concession operators to charge passengers enough to recover their running costs, while the very idea of prioritizing passenger over freight traffic is itself nonsensical. Indeed, if the Nigerian railway system were being planned out by a cost-conscious administrator, the Lagos-Ibadan stretch would have been by far the highest priority, with a terminal running directly from the ports at Apapa; the next-highest priority would have been the Ibadan-Ilorin portion, and after that Ilorin-Kano, etc. Unfortunately, as always petty tribal considerations have been prioritized over economic rationality, so the top priority was a Kaduna-Abuja stretch that will never recover the costs associated with running it, let alone the costs of building it out. TLDR: Railways are an excellent idea in principle (and in practice in sane countries like Japan, the USA, France, Germany, etc), but the inevitable Nigerian factor has turned the Buhari administration's implementation into nothing more than a liability for future generations. If any of these new railway lines are still at their full initial capacity after a mere 10 years, I will be highly surprised. The far more likely scenario is that they will be quickly run down, just like the well-functioning railway system we inherited at independence. 4 Likes |
Re: Chinese Debt 8.5% Of External Debt DMO & FG Seeks Loan For Ibadan-kano Rail by Omololu001: 7:43am On Sep 13, 2018 |
Fariq:k |
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