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FG Suspends Plans To Borrow $22.7bn - Politics (4) - Nairaland

Nairaland Forum / Nairaland / General / Politics / FG Suspends Plans To Borrow $22.7bn (29159 Views)

$22.7bn Loan: Igbo Group Petitions China Exim Bank, Demands Facility Suspension / Buhari’s $22.7 Billion Loan Spending Plan: $1.25bn For Abuja Rail, $500m For NTA / Senator Abaribe Confronts Lawan On $22.7 Billion Loan Approval For Buhari (Video (2) (3) (4)

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Re: FG Suspends Plans To Borrow $22.7bn by Herdsmen: 7:45pm On Mar 16, 2020
iammo:


$17billion is from Chinese EXIM bank and china don't care, others are from Germany (siemens) , France (French development bank) Saudi, and little bit from world bank

so even if everyone pulls out Germany China and France would never pull out

Okay bro
Re: FG Suspends Plans To Borrow $22.7bn by shekauvsbuhari: 7:46pm On Mar 16, 2020
ClassicMG:
then what is debt service, if it's not debt payment?
debt sevicing is paying interest while leaving principal yet. You repay debt when U pay off de principal n its not always easy to do. Creditors know this.So ur creditor will be just making money off ur sweat without stress.
Re: FG Suspends Plans To Borrow $22.7bn by israelmao(m): 7:52pm On Mar 16, 2020
Where have the past borrowings led us to?It was only more corruption and more wasteful spending.

1 Like

Re: FG Suspends Plans To Borrow $22.7bn by Nobody: 7:54pm On Mar 16, 2020
ClassicMG:
then what is debt service, if it's not debt payment?

Debt servicing means you are paying the interest on your loan but not paying the loan itself.

Let's say you borrowed one million naira and the interest is say 250,000 naira/yr. (The total you'll pay back is 1.25 million naira.)

Debt repayment means you're paying back the interest and the loan, say 105K/month. You will repay everything back (loan + interest) in less than a year.

debt servicing on the other hand, means you are paying back just the interest (250K) but not the one million naira loan itself.

You will clear the interest if you pay say 21K/month. But the loan is still there and you will still need to pay another interest (250k) the following year.

It will go on like that until you finally pay the loan.
Re: FG Suspends Plans To Borrow $22.7bn by Odelhorno1990: 8:01pm On Mar 16, 2020
Definitely due to Coronavirus, the loan may be affected since it is going from Europe, very good step to contain the virus. Buhari is working!!!!
Re: FG Suspends Plans To Borrow $22.7bn by Pasprof27(m): 8:02pm On Mar 16, 2020
Where the Bleep is all the recoverd ABACHA loots?. #mtchewwww!!! Wat a fucking leadership Nigeria haz........
Theif stole, thieves collect...
Re: FG Suspends Plans To Borrow $22.7bn by luggy(m): 8:09pm On Mar 16, 2020
If not sen abaribe, they would have borrow & swalow, Useless goverment
Re: FG Suspends Plans To Borrow $22.7bn by UNUKHASO: 8:10pm On Mar 16, 2020
INSTEAD OF BORROWING WHY NOT REMOVED AND STOP PAYING FUEL SUBSIDIARY
Re: FG Suspends Plans To Borrow $22.7bn by talk2maurice(m): 8:11pm On Mar 16, 2020
Wetin we do this people?
Re: FG Suspends Plans To Borrow $22.7bn by Mosthandsomeboy(m): 8:13pm On Mar 16, 2020
UNUKHASO:
INSTEAD OF BORROWING WHY NOT REMOVED AND STOP PAYING FUEL SUBSIDIARY
go and remove it na

Re: FG Suspends Plans To Borrow $22.7bn by BustyCookie: 8:18pm On Mar 16, 2020
Good job
Re: FG Suspends Plans To Borrow $22.7bn by shaw2(m): 8:31pm On Mar 16, 2020
grin grin grin
Who told you they suspended the borrowing?
The main issue here is who will volunteer to travel to virus raided country to seek for loan.
But this people are seriously mean to ruin Nigerians with debts we can't pay.
Make them just split this country period.
okpalaAnambra:
They should have continued naw, what made them stop borrowing to enrich themselves and leaving out south east which is the commercial engine of the country

awọn eniyan isọkusọ ti ko ni ero rara
Re: FG Suspends Plans To Borrow $22.7bn by Mosthandsomeboy(m): 8:36pm On Mar 16, 2020
gonkin:
22.7 billion dollars. They should just sell Naija
https://en.m.wikipedia.org/wiki/List_of_countries_by_external_debt
Re: FG Suspends Plans To Borrow $22.7bn by Mosthandsomeboy(m): 8:37pm On Mar 16, 2020
shaw2:
grin grin grin
Who told you they suspended the borrowing?
The main issue here is who will volunteer to travel to virus raided country to seek for loan.
But this people are seriously mean to ruin Nigerians with debts we can't pay.
Make them just split this country period.
https://en.m.wikipedia.org/wiki/List_of_countries_by_external_debt
Re: FG Suspends Plans To Borrow $22.7bn by TechSpace02: 8:37pm On Mar 16, 2020
Clean UK used core i5 laptop, tap on my signature.
Re: FG Suspends Plans To Borrow $22.7bn by seunayantokun(m): 8:50pm On Mar 16, 2020
Meaning they will secretly do the needful. Darkness na cover!
Re: FG Suspends Plans To Borrow $22.7bn by vineyardfarms: 8:57pm On Mar 16, 2020
Ok
Re: FG Suspends Plans To Borrow $22.7bn by vineyardfarms: 9:00pm On Mar 16, 2020
Why borrow, when pmb, hand-pick senate and rep could just put out ng for sale, add the sales price to recovered ghost loots to construct imaginary projects like calabar / ltu road. God expose them, disgrace them, shame them
Re: FG Suspends Plans To Borrow $22.7bn by Nobody: 9:02pm On Mar 16, 2020
awesome! looters wings broken!
Re: FG Suspends Plans To Borrow $22.7bn by FLYFIRE(m): 9:34pm On Mar 16, 2020
God punish all these quota system people

Re: FG Suspends Plans To Borrow $22.7bn by FRANK7890: 9:35pm On Mar 16, 2020
see blew
Re: FG Suspends Plans To Borrow $22.7bn by NamelessOGBENI(m): 9:37pm On Mar 16, 2020
....due to current realities in the global economic landscape......

grin
Re: FG Suspends Plans To Borrow $22.7bn by 9japride(m): 9:44pm On Mar 16, 2020
lazeal:


That is not the reason for my response. My response is the boastful undertone of his comment.
[color=#006600][/color]

It's OK.
Re: FG Suspends Plans To Borrow $22.7bn by Papertrail11(m): 9:54pm On Mar 16, 2020
igbojay:
Tell people the honest truth madam. The only asset you can use as security was revenue from oil sales. Now that oil has nose dived, no sane external lender wants to do business with Nigeria. No viable capacity to pay. Everyone is trying avoid another Lebanese story.

Lebanese story how?

Care to shed more light?
Re: FG Suspends Plans To Borrow $22.7bn by AmTruth: 10:08pm On Mar 16, 2020
Diversification is key.

God bless Nigeria!!!
Re: FG Suspends Plans To Borrow $22.7bn by Faber(m): 10:16pm On Mar 16, 2020
grin grin grin
Witcher:
One took a thyrsus to the knee, so sharp Gorgo heard it crack, and pitched headlong, folding up, rolling. More blows caught him from several angles, breaking bones, tearing flesh; he flipped, bellowing, then gave a moaning “whuff!” as Iris came down right on top, astride both hips, club inverted to crack his breastbone and pop at least one lung, squeeze heart against ribcage, bruise liver beyond repair. His skull met a log back-first, brain slammed hard, eyes rolling up; was probably out long before Iris’s partners (Scylla, Polyxena) could get on him too, their hands rock-full, looking to make like Cain.

To his left, meanwhile, another lucky winner got Deianira’s spear across the top of his ear and recoiled, flinching away only to run straight into Charis’s strong grip instead. They were about the same height, but Charis had him from behind, choking him so hard he started to lift off the ground, kicking wildly. He tore at her arm with both hands, drawing blood, ‘til she finally threw him down with enough force that Gorgo heard his nose pop, or maybe a cheekbone—then heel-stomped him between the shoulder blades, holding him pinned even as he flailed, trying his level best to swim away. One armpit made a beautiful target for Deianira’s next thrust, a goring stab that went in far as she could reach, and the pain made him rear back far enough for Gorgo to slash her scythe across his throat.
Re: FG Suspends Plans To Borrow $22.7bn by highbee7: 10:19pm On Mar 16, 2020
Racoon:

shocked Thought they were busy down playing it that Nigeria have not borrowed enough even competing with sound economies while our domestic & foreign debt pillage continued? Guess recession is no more a byword?

Global financial realities is now making more sense to these chronic indebtors? Debt servicing is not debt payment.

Eventually due servicing, will in the long run become due(full)payment. BUT!

The sad thing, is not the long term repayment tenor but “brown embezzlement”that hinders development.
Re: FG Suspends Plans To Borrow $22.7bn by Yusman316(m): 10:36pm On Mar 16, 2020
Awol1:
Ahmed Lawan is a rubberstamp and a compound fool.

Thank God for Igbo senators who spoke in unison against this money heist.

And thank God for Gbaja that grew some balls to suspend consideration on the borrowing plan.

Again Ahmed Lawan is a potbellied idiot.

Saraki where art thou, Nigeria is in need of thee?
Don't worry, we will see how govt will carry out projects without money
Re: FG Suspends Plans To Borrow $22.7bn by Yusman316(m): 10:41pm On Mar 16, 2020
Burruchaga71:
God bless Senator Abaribe, God bless Ndigbo
Wetin dis one dey talk. Something that the senate has already approved, or is Abaribe not in the senate again?
Re: FG Suspends Plans To Borrow $22.7bn by ALABACONNECT(m): 10:47pm On Mar 16, 2020
Money that is going to be used to feed a corrupt society right... Well it's good Sha

For your smart TVs, refrigerators, ACs and Soundsystems, check my signature
Re: FG Suspends Plans To Borrow $22.7bn by Yusman316(m): 10:49pm On Mar 16, 2020
Raalsalghul:

Wow, I never thought of it from this angle.
It totally makes sense.
It makes sense, right? So how do countries without oil get to borrow?
Re: FG Suspends Plans To Borrow $22.7bn by Yusman316(m): 10:55pm On Mar 16, 2020
UNUKHASO:
INSTEAD OF BORROWING WHY NOT REMOVED AND STOP PAYING FUEL SUBSIDIARY
If fuel subsidy is removed, will u agree to buy petrol at 300-400 naira per litre? Or still blame the govt for the high price. Or don't u know that's the only thing keeping petrol price low. Nigeria has the lowest petrol price of all the fuel producing nations

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