Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,195,399 members, 7,958,150 topics. Date: Wednesday, 25 September 2024 at 09:51 AM |
Nairaland Forum / Nairaland / General / Politics / Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request (29456 Views)
Shehu Sani: Why Repentant Terrorists And Bandits Become Spies / Shehu Sani: Why The North Is Scared Of Restructuring / Shehu Sani: Why I Should Be Re-elected Kaduna Central Senator (2) (3) (4)
(1) (2) (3) (4) (5) (6) (Reply) (Go Down)
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Kuginzi: 6:21pm On Nov 29, 2019 |
General0847:And you're too moronic for only viewing d effect while hiding d good side of it just because of d Hatred u have for him. Your miserable life and your poor family should pray for u because u need heavy Deliverance |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Agboriotejoye(m): 6:43pm On Nov 29, 2019 |
0monnak0da:The IMF functions more or less like an organ of the world bank if my memory of international finance serves me well. I remember subsidy removal as one of the conditions for loans as well as currency devaluation. I don't know how benevolent that is |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Alday: 7:09pm On Nov 29, 2019 |
TheGreenLand: The U.S govt currently use about 40 cents out of every $1 it earns as revenue to service public debt. The Nigerian government however, currently use about 66 kobo out of every N1 earned as government revenue to service public debt. Debt to GDP ratio is also weighed relative to the ratio of debt servicing to government revenue. America actually earns more from its assets abroad than it pays to foreign investors. The CBN sadly currently BORROW USD to try maintain liquidity and stability in the forex market. What revenue yielding assets or taxes will you use to pay back a fresh $30bn over a number of years when your public revenue sources are dwindling in dollar terms and your current credit ratings and economic situation mean you'd borrow at high interest rates without going to the IMF? You can always borrow 30 billion in whatever batches when your economic fundamentals have been gotten right and not when you're still imposing a border closure and trying to fix the price of rice. 2 Likes 1 Share |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Izzymore(m): 7:10pm On Nov 29, 2019 |
The money is money haha 30 bili for what now hen!! This government Shay |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by tomdon(m): 7:10pm On Nov 29, 2019 |
Eteka1: Everything is wrong with it Mr man The private sector investors can do all these infrastructures the government wants to do in a build operate and transfer basis. We would have secured the objectives at no risk and government officials and Apc will not have what to embezzle 1 Like |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Eteka1(m): 7:19pm On Nov 29, 2019 |
tomdon:Private sector can do some not all my man. Give us an example of a country where the private sector revamped all the aged infrastructure. |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by 0monnak0da: 7:28pm On Nov 29, 2019 |
Agboriotejoye:The IMF is not an organ of the World Bank. That is ignorant twaddle clearly you are out of your depth honestly you are just posturing and trying to appear knowledgeable |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Mrpojj(m): 7:50pm On Nov 29, 2019 |
Formularcr7: The one they have borrowed how afloat are you now? 1 Like |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by AkupeMBANO(f): 7:57pm On Nov 29, 2019 |
SarkinYarki:use "terrible". 2 Likes |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Akolawole(m): 7:59pm On Nov 29, 2019 |
Formularcr7: They do understand but chose NOT to understand that we are 20 years behind in infrastructure. |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by dhikirulahi(m): 8:29pm On Nov 29, 2019 |
What is this one saying oga your time is up 1 Like 1 Share |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by General0847: 9:21pm On Nov 29, 2019 |
Kuginzi:The dyke that gave birth to a bastard child like you is the person i blame. She should have had an abortion. |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by stormborn28(m): 9:52pm On Nov 29, 2019 |
Pusyiter:foolish talk |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by stormborn28(m): 9:59pm On Nov 29, 2019 |
Sirjamo:i laugh at your statement especially the last paragraph... Who is the Senate to enforce what the executive does. The only power they have is refusal to grant the loan... But hoping they can monitor the executive is a dream |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by stormborn28(m): 10:01pm On Nov 29, 2019 |
Eteka1:a large chunk of that money will be stolen. Where is the $1billion for arms purchase by this government... Was it not stolen |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by grandstar(m): 11:12pm On Nov 29, 2019 |
Pusyiter: You will be recolonized by the IMF by giving you a bitter pill to swallow. The pill is good for you. It will help you tackle the outcome of your excesses such as borrowing $30b senselessly. End petrol subsidies and deregulate the price, you no gree. This would have saved the country over 500b a year. It would also have led to an investment boom in the downstream sector with investors rushing to build refineries. Reduce the size of the bloated civil service to cut recurrent spending and waste, you no gree. Now you're saddled with paying 30,000 minimum wage to those you refuse to sack. I'm sure if he had sacked workers, paying this new minimum wage wouldn't be as costly as it is now for the government. Sell the refineries and not waste money repairing them. You no gree. Instead, you pumped 100's of millions of dollars or even over $1b with nothing to show for it. Kachikwu was simply saying nonsense to you so you ignored the stupid man. End the disparity in exchange rates in the forex market where a group of guys buy at N305 in a certain market and others buy at the exporters' forex window at 360. Lamido Sanusi has been screaming the house down that you are simply encouraging corruption where well-connected people can buy at 305 and sell at 360 or what is known as roundtripping. That N55 difference if multiplied by $15bn will give you about 750billion loss that the country, more especially the 3 tiers of government is losing each year from this nonsense. If Buhari had just listened to sound advice from day one, it could have improved federal government finances by about a N1.5trillion a year. That is over $4billion yearly, close to 1% of GDP. 3 Likes 2 Shares |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by ForbesHomesNG(m): 11:24pm On Nov 29, 2019 |
0monnak0da: |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by urahara(m): 11:33pm On Nov 29, 2019 |
Eteka1: Nigerias debt to gdp may be low but what about debt to tax revenue |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by urahara(m): 11:34pm On Nov 29, 2019 |
juman: With a population of 200 million poverty stricken people. |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by grandstar(m): 12:29am On Nov 30, 2019 |
0monnak0da: Over 50% is spent servicing debt. Hence the governments nack for borrowing. This government is just going round in circles like a dumb cat trying to catch something dangling from its tail. Read what I wrote. 1 Like |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by CosmicMire: 2:07am On Nov 30, 2019 |
So basically what he wanted to prove to us is that he has a greater proclivity to borrow than his predecessors? So after borrowing as much as all past administrations did combined, he still has the effrontery to push for another record-breaking loan? And what if he's chasing this one down as his final borrowing outing, knowing the window of opportunity is drawing close? Can we expect things to 'change' this time around for an outcome that brings tangible impacts to the lives of the average Joe? Ha. Don't hold your breathe for that one. |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by sulaak(m): 5:30am On Nov 30, 2019 |
TheGreenLand: First, ask the wise man how Nigeria has utilised the $88 billion debt that they now own. Wouldn't it be wise to cut outgoing costs like ex-governors pension, consumption import bills such as fuel and food imports and increase export productivity than take more loans that Nigeria can't manage? If Nigeria is to take any loan it should be directed at the power industry only. |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Takadboi(m): 6:25am On Nov 30, 2019 |
What I think the Senate should do is to make sure that the loans are used to execute developmental projects that have the capacity to impact our lives and also have the potential to raise revenue so that we can be able to quickly pay back. [/quote] Nigerian Senators ?¿ |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Kuginzi: 6:40am On Nov 30, 2019 |
General0847:The mad man that raped your mother which led to your birth is having a negative impact in your miserable life. |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Codes151(m): 8:02am On Nov 30, 2019 |
Zombie! What was done with the first 3 loans? What are you borrowing for? 60% of national cake already goes to political class n you are here giving a senile idea... If VAT increases or tax, you fit pay? Noise maker Sirjamo: |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by 0monnak0da: 9:00am On Nov 30, 2019 |
Nigeria has a Tax Revenue/GDP ratio of 6% compare to Algeria of 64% and Denmark of 50% Pakistan 11% India 16% Kenya 18% Ghana 20% Clearly the richer a country is the more tax it can extract from its GDP Interestingly Algeria has the highest tax /GDP in the world and Nigeria is one of the lowest in the world https://en.wikipedia.org/wiki/List_of_countries_by_tax_revenue_to_GDP_ratio GDP is a good basis for measuring the ability to borrow ONLY if there is capacity to extract tax revenue from that GDP Nigeria has a poor record of extracting tax from its GDP Let us desist from ignorantly echoing the debt/GDP ratio So how can we move from 6% to 12% i.e double our tax revenue. Talk is cheap 2 Likes 1 Share |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by General0847: 9:03am On Nov 30, 2019 |
Kuginzi:You child of a badly dressed wh.ore. |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by urahara(m): 9:06am On Nov 30, 2019 |
0monnak0da: 6 percent to 12 percent is a very big deal. |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by 0monnak0da: 9:12am On Nov 30, 2019 |
juman:Let us reexamine your logic If that capacity exists within those 200 million then with "good management" there should be no need to borrow. We should extract the revenue from them quite easily. 1 Like 1 Share |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by 0monnak0da: 9:26am On Nov 30, 2019 |
Alday:Wetin concain rice for de mata |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Kuginzi: 10:13am On Nov 30, 2019 |
General0847:A bad tree does not yield good fruits, you're from a bad lineage that's why u behave like a miscreant |
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by juman(m): 10:16am On Nov 30, 2019 |
0monnak0da: Try to check the countries external debt. Borrowing is not bad. Our problem is those greedy generals borrowed and stole everything. That became the culture in the country. |
(1) (2) (3) (4) (5) (6) (Reply)
Pictures Of The 5,000 Seater Nsukka Township Stadium As It Enters Final Stage / Why Governor Akeredolu Is Working From Ibadan – Ondo Government / IMF Wants Buhari To Change His Forex Policy
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 72 |