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Nairaland Forum / Nairaland / General / Politics / Backyard, Unsuccessful Economists Criticising Fg’s Borrowings —fashola (614 Views)
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Backyard, Unsuccessful Economists Criticising Fg’s Borrowings —fashola by oluwafemme129(m): 7:39pm On Sep 24, 2019 |
The Minister of Works and Housing, Babatunde Fashola, has taken a swipe at those who condemned the rate of borrowing by the Federal Government, describing them as “backyard economists.” In his keynote address at the Lagos Business School on how government policy affects business and society in national development, which was made available to our correspondent in Abuja on Tuesday, Fashola said those finding faults with government’s rate of borrowing were largely unsuccessful individuals. He said, “Today, the government is constructing roads in every state of Nigeria and while revenues are a challenge to prompt completion. Some ‘experts’ who have not successfully shown they can run a small business moan the loudest about Nigeria’s borrowing to fund infrastructure investment. “A Nigerian, has borrowed billions of dollars to build a refinery, petrochemical plant, fertiliser plant and gas processing plant, yet some backyard economists complain that a country whose population is in the hundreds of millions is borrowing too much to fix rail, roads, ports (air and sea) and power.”
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Re: Backyard, Unsuccessful Economists Criticising Fg’s Borrowings —fashola by Afamed: 7:43pm On Sep 24, 2019 |
Gbam. Especially the children of hate from the other side. They will soon litter this space now 1 Like |
Re: Backyard, Unsuccessful Economists Criticising Fg’s Borrowings —fashola by Oshin56(m): 7:44pm On Sep 24, 2019 |
Believed Nigeria politicians at your own risk, what did you expect him to say because the money they borrow will be share among themselves they are like predators why Nigerian are preys . 3 Likes 1 Share |
Re: Backyard, Unsuccessful Economists Criticising Fg’s Borrowings —fashola by stonemasonn: 7:47pm On Sep 24, 2019 |
Fashola na Frontyard economists nah, the best in the world. 2 Likes |
Re: Backyard, Unsuccessful Economists Criticising Fg’s Borrowings —fashola by kings09(m): 7:57pm On Sep 24, 2019 |
Mr Frontyard economist has spoken 2 Likes |
Re: Backyard, Unsuccessful Economists Criticising Fg’s Borrowings —fashola by Born2Breed(f): 8:02pm On Sep 24, 2019 |
Coming from an idiot in a failed government who stated that any government who can't fix electricity in 6 months is a failure. Fashola you are nothing but a failure because electricity has gone worst since you came in, even your dullard president is budgeting 46million to fuel generator. Minister of darkness!!! 7 Likes 2 Shares |
Re: Backyard, Unsuccessful Economists Criticising Fg’s Borrowings —fashola by Bolustical: 8:03pm On Sep 24, 2019 |
following |
Re: Backyard, Unsuccessful Economists Criticising Fg’s Borrowings —fashola by Bolustical: 8:03pm On Sep 24, 2019 |
yes |
Re: Backyard, Unsuccessful Economists Criticising Fg’s Borrowings —fashola by TSRC: 8:08pm On Sep 24, 2019 |
Afamed:So you want Nigeria to be as indebted as the South west? Buhari has borrowed more than any president before him because he surrounded himself with serial borrowers. Does that not alarm you? 3 Likes |
Re: Backyard, Unsuccessful Economists Criticising Fg’s Borrowings —fashola by mrvitalis(m): 8:27pm On Sep 24, 2019 |
Where are the the things u used the loans for |
Re: Backyard, Unsuccessful Economists Criticising Fg’s Borrowings —fashola by toolovely(m): 8:35pm On Sep 24, 2019 |
Afamed: You reason like the front yard economist. Please, the two scenarios he gave doesn't relate in anyway. A Nigerian borrowed to build refinery, petrochemical and etc, are those not supposed to return investments? Borrowing money to build roads, what is it going to bring in return? How do you intend to pay back the money? 5 Likes |
Re: Backyard, Unsuccessful Economists Criticising Fg’s Borrowings —fashola by magoo10(m): 8:41pm On Sep 24, 2019 |
This is coming from an unsuccessful minister of power after boasting to revive the sector within 6months. Buhari have affected the brain of many that even professors will come and tell you how good it is to borrow. maybe their fore father's will come and pay for the debts someday 2 Likes |
Re: Backyard, Unsuccessful Economists Criticising Fg’s Borrowings —fashola by surgical: 9:56pm On Sep 24, 2019 |
magoo10:if he actually said that,has it not confirmed why he has not been a successful minister , that his famed success as a governor was due to media propaganda which he heavily funded Going by his logic, the world Bank and other reputable world financial institutions are back yard Economist,what qualifies him as an economist He is just looking for ways to justify the borrowing which they will loot,what did they do with previous borrowing The Government revenue streams can not support government unintelligent borrowing,thats the issue 3 Likes |
Re: Backyard, Unsuccessful Economists Criticising Fg’s Borrowings —fashola by Afamed: 10:11pm On Sep 24, 2019 |
toolovely:Yab, I expected People like you to come. Borrowing money to put up enough infrastructural development is what we need in Nigeria. When you have a good roads network, you have made it easy for people to transport their goods and services to the consumers in good time and in good shape.From there, Government generate income through taxes, i.e the more production , the more taxes you pay. Good roads also attract foreign investors. You also borrow to develop your rails, improve your industrial revolution.Borrow money to improve your ICT and also your electricity which will attract foreign investors. And at the end of the day, it improves the internal and external income of the Nation. Perhaps you are not aware, as of today, America has borrowed upto $ 21.97trillion. They borrowed this, in order to improve on their ICT, more industrial revolutions . And other public services Tell me, how do you intend to attract a foreign investors , when you have a dead trap roads here and there 1 Like |
Re: Backyard, Unsuccessful Economists Criticising Fg’s Borrowings —fashola by magoo10(m): 10:17pm On Sep 24, 2019 |
surgical:funny enough they will throw away the World Bank report stating the danger of Nigeria borrowing too much, they will even tell you it is being sponsored by the opposition just because they want to loot the borrowed funds. 2 Likes |
Re: Backyard, Unsuccessful Economists Criticising Fg’s Borrowings —fashola by ConqueredWest: 10:19pm On Sep 24, 2019 |
toolovely: You deserve a kiss unfortunately you are a man and I am not a homo How do this irresponsible government expect to pay back since our oil revenue is collapsing.? |
Re: Backyard, Unsuccessful Economists Criticising Fg’s Borrowings —fashola by ConqueredWest: 10:22pm On Sep 24, 2019 |
Afamed: The repayment which is expected to be in dollars, where do you expect government to get dollars to pay back now that oil dollar is disappearing from our national treasury.? |
Re: Backyard, Unsuccessful Economists Criticising Fg’s Borrowings —fashola by Afamed: 10:30pm On Sep 24, 2019 |
ConqueredWest:And should the Government abandon the roads because they are paying the Constitution companies in Dollar? Bearing in mind, no investors will invest in an environment where the roads are not motorable |
Re: Backyard, Unsuccessful Economists Criticising Fg’s Borrowings —fashola by ConqueredWest: 10:33pm On Sep 24, 2019 |
Afamed: Anything that can not give back the money borrowed, pls don't borrow. |
Re: Backyard, Unsuccessful Economists Criticising Fg’s Borrowings —fashola by Afamed: 10:36pm On Sep 24, 2019 |
ConqueredWest:Fashola has said it all. It's unsuccessfully economists like you, giving advises. How do you attract investors into your country, when all you have are dead trap roads? Use your elementary analysis to arrive at this conclusion. A new layout housing estate at Awka, with good roads network and another new layout housing estate at Nnewi with no road network. Tell me the ones that will attract potential buyers and investors between the two housing estates. Most of you are just here to argue base on your hatred |
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