omonnakoda:
Gowon performed excellently with Awo as Finance minister prosecuting a 3 year war with no debt at the end and no oil revenue. Our currency retained its value and there was no inflation

I'm tempted to still comment when you put Gowon and inflation in the same sentence.

You sound fairly old enough.

Udoji was the substrate for monumental inflation and devaluation in Nigeria. That was the beginning of decay.

Lastly, when you discount the economic damage in fiscal and human capital done to South Eastern Nigeria, you're being disingenuous, to say the least.

iammo:
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i'll try to be breif as posible; Nigeria needs to spend on infrastructure to diversify our economy.. infrastructural deficit is put at $100bn and our oil daily production is over 2.5mbp giving us annual output of ext 1bn barrels and at current price we earn $55bn annualy, cost of production stands at $10 per barrel that leaves us with $45bn, our OML owners share 60/40 with FG, leaving us with $27bn a year for all arms of govt to share.. thus leaving FG with about $10bn to handle its recurrent and capital projects. . now i ask you shouldnt we access the money market to fix fund generating critical infrastructure, or should we rather wait for non willing investors, or wait tilm we can save for it

let me give you a medical analogy Mr Okafor has lung cancer should he visit TB Joshua or Celestial Church of Chrisst for healling

Your premise and formulation are totally wrong and naive

Nigeria spemds more than half its budget paying salaries and paying debt so the reality is not only that we cannot pay r infrastructure from revenue we cannot afford to pay for it by borrowing either. Also we need to take some very painful decisions about things like petrol subsidy and government as a source of employment. the cost od government itself etc

Is treasury bills the way to plug infrastructure gap

Yankee101:


I'm tempted to still comment when you put Gowon and inflation in the same sentence.

You sound fairly old enough.

Udoji was the substrate for monumental inflation and devaluation in Nigeria. That was the beginning of decay.

Lastly, when you discount the economic damage in fiscal and human capital done to South Eastern Nigeria, you're being disingenuous, to say the least.

Monumental? Inflation is not art it is something that is measured scientifically

Do you have data?

Not just Gowon but even into Shagari's government inflaation was very low in Nigeria for decades. There was a blip during the Udoji award but that was largely due to the fact that our economy was import dependent and the award was not well planned . This corrrected itself quickly but overall prices were stable and the currency strong . Gowon was helped by the oil boom which started in 1973.
There was a war so we have to put things in contet.
My point is considering that there was a war the economy did much better than in other periods when there was no war and considering we were a new country under 10 years old. He did a great job. He did not borrow to fund the war

omonnakoda:

let me give you a medical analogy Mr Okafor has lung cancer should he visit TB Joshua or Celestial Church of Chrisst for healling

Your premise and formulation are totally wrong and naive

Nigeria spemds more than half its budget paying salaries and paying debt so the reality is not only that we cannot pay r infrastructure from revenue we cannot afford to pay for it by borrowing either. Also we need to take some very painful decisions about things like pet infrastructure gap[/b]

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[b] treasury bills are for short term. most of our loans are long-term with single digit rate and atleast 5years moratorium, and 35years rate. fuel subsidy is going no where anytime soon neither will govertment spending reduce except we have military rule... its only smart to access money market just has dangote did for his refinery, and if we dont smart countries like ghana US, UAE would access it and your citizens would end up slaving their lifes for them

iammo:
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[b] treasury bills are for short term. most of our loans are long-term with single digit rate and atleast 5years moratorium, and 35years rate. fuel subsidy is going no where anytime soon neither will govertment spending reduce except we have military rule... its only smart to access money market just has dangote did for his refinery, and if we dont smart countries like ghana US, UAE would access it and your citizens would end up slaving their lifes for them

We are talking about Treasury bills here...............
I am not sure what you are talking about or why you are saying it to me

Government's capacity to borrow must match its capacity to repay

We cannot afford to borrow all that is needed to plug our infrastructur gap so what is yur point?
There is a limit to borrowing surely?

Even if it is 100 years you have to serviice it and it all adds up

You talk as if the money market is stupid and just give out loans without cnsidering how they will get their money back
How succesfull hs Dangote been in getting moneyy from the money market?

omonnakoda:
We are talking about Treasury bills here...............
I am not sure what you are talking abut or why you are saying it to me

Government's capacity to borrow must match its capacity to repay

We cannot afford to borrow all that is needed to plug our infrastructur gap so what is yur point?
There is a limit to borrowing surely?

no point engaging you anymore.. DMO says we can borrow, and the smart technocrats in government are borrowing... you can only write inconsequential epistle on nairaland and argue with everyone on nairaland.. lol lagos abeokuta ibadan standard guage is coming on board as a result of loan, if you dont like it you may ask that your region be excluded ....

iammo:

no point engaging you anymore.. DMO says we can borrow, and the smart technocrats in government are borrowing... you can only write inconsequential epistle on nairaland and argue with everyone on nairaland.. lol lagos abeokuta ibadan standard guage is coming on board as a result of loan, if you dont like it you may ask that your region be excluded ....

Guy I am not a politician and I am neither PDP or APC I don't do all that rubbish so stp talking like an idiott and making things personal for no reason. This thread is not about borrowing for infrastructure but T-bills .

The fact is that even the government ssays they cannot plug the infrastructure gap by borrowing the private sector has to get involved. At any rate that is totally off the point of this thread
fiuck off and get lost

omonnakoda:
Guy I am not a politician and I am neither PDP or APC I don't do all that rubbish so stp talking like an idiott and making things personal for no reason. This thread is not about borrowing for infrastructure but T-bills .
The fact is that even the government ssays they cannot plug the infrastructure gap by borrowing the private sector has to get involved. At any rate that is totally off the point of this thread
fiuck off and get lost

like i said your epistle is inconsiquential so is your rants... good day

[s]

Shawnnn01:
[b]Here we go again with another Biafran with some senseless shii to spill. My bother we are Nigerians and we won’t be gullible like the 2 million Ojukwu led to their early graves. Our own head correct if una own no correct

[/s]
Yorubas like you should stop reasoning like retarrds and learn to address issues rationally.