Thank God they have not already borrowed.
I said Nigeria would struggle to service the loan if oil crashed they said our mouth was stinking.

They bulldozed it through the rubber stamp Senate with a projected benchmark of $60.

One wonders whether Buhari has any input whatsoever into the budget.
Nigeria shoul prepare for $20 oil for years to come.
I wonder whether we can even pay /service our existing debt at this price

Bad signal. It's a sign they shouldn't dare.

The loan request has been suspended. That is right thing to do.

Make oil enter 0$ sef make everybody rest.

That time na beg dem go dey beg people to join politics.

this is a temporary market drop due to corona virus and Saudi/OPEC vs Russia in problems with not reaching production cut agreement, when the trend suddenly go bearish and charts suddenly go down all time low, smart people know the force it would use to go back bullish might break the ceiling


.

iammo:
temporary market drop, when the trend suddenly go bearish and charts suddenly go down all time low, smart people know the force it would use to go back bullish might break the ceiling

What has this gibberish got to do with this thread?
Must you talk?

amc:
The loan request has been suspended. That is right thing to do.

Even at $60
It was a crazy idea considering we are spending close to to 50% of revenue servicing debt. I wonder what that percentage would be at $29

0m0nnakoda:

What has this gibberish got to do with this thread?
Must you talk?

let me break it down to you Mr gibberish... in commodity trading (stocks , crude, Gold etc) when something happens globally and there is a sharp drop in price the moment the matters are resolved the price would go higher... in 2008-09 there was a global recession and Oil prices went down, later prices picked up around 2011 to 2014 and sold on average of $100 per barrels ..

so in simple terms, the moment flu season is over by april ending or june or coronavirus subside OPEC and Russia would deliberately cut production and create artificial scarcity forcing crude to sell as high as $80 per barrel just to compensate for what they didn't make during this period..

And the loan we are taking are infrastructural loan with long term repayment plan and a very long months of grace period or moratorium

0m0nnakoda:
Thank God they have not already borrowed.
I said Nigeria would struggle to service the loan if oil crashed they said our mouth was stinking.

They bulldozed it through the rubber stamp Senate with a projected benchmark of $60.

One wonders whether Buhari has any input whatsoever into the budget.
Nigeria shoul prepare for $20 oil for years to come.
I wonder whether we can even pay /service our existing debt at this price

Nobody was going to give such a useless govt any loan anyway ..China needs all it's money now more than ever and have informed the useless govt they can't go on with the loans because of the hit Corona gave their Economy and the useless govt quickly made an announcement to save face

iammo:



Honestly when I see grown ups on Nairaland throw insults over simple forum arguments I wonder wht their upbringings were like and who exactly there fathers where and what could be so important to him to raise a kid till they become grown bitter vile spewing negative person.. well apples don't fall far from its tree

Try see how civilized people argue on Quora without use of words like Daft, gibberish and other words that shows who you are anyways shalom!!.. enjoy your crass ignorance, I wont roll with pigs

So says a hypocrite

iammo:


mscheew!!! tell that to your fellow simpleton, rag tag Taliban blew off World Trade Center New York with thousands murdered and killed 3000 US Army in Afghanistan until your Trump God ,lord and personal savior reached an agreement with the Taliban to shamefully allow US troops return in one peace home

and we all know Muhammed PBUH is not gay like one Jew unmarried man with 12 gay deciples who betrayed him

iammo:



I don't trade insults with pigs in the mud go and meet your peers in the swamp see ya.. dumbo

iammo:


I am talking to the gay guy who says on his post he is tired of life and has 48 hours to live.. check his pathetic depressed thread.. well his death wish just got answered with his own curse

iammo:



good of you then keep quite and fvck off my mention

0m0nnakoda:


So says a hypocrite

no wonder your threads hardly get 2 to 3 comments before fading into oblivion abeg stop quoting be and keep to you thread as I have moved on to more interesting and educative threads

iammo:


no wonder your threads hardly get 2 to 3 comments before fading into oblivion abeg stop quoting be and keep to you thread as I have moved on to more interesting and educative threads

shut the door after you

iammo:


let me break it down to you Mr gibberish... in commodity trading (stocks , crude, Gold etc) when something happens globally and there is a sharp drop in price the moment the matters are resolved the price would go higher... in 2008-09 there was a global recession and Oil prices went down, later prices picked up around 2011 to 2014 and sold on average of $100 per barrels ..

so in simple terms, the moment flu season is over by april ending or june or coronavirus subside OPEC and Russia would deliberately cut production and create artificial scarcity forcing crude to sell as high as $80 per barrel just to compensate for what they didn't make during this period..

And the loan we are taking are infrastructural loan with long term repayment plan and a very long months of grace period or moratorium

Infrastrctural loan? which infrastructures? Noo they are sharing the money among themselve nee...don't you get it..? we don't want any loan infrastructure loan, corona virus loan, APC loan or any other kind of loan, we don't want and don't need it bro...!!

0m0nnakoda:

What has this gibberish got to do with this thread?
Must you talk?

I think you are the one with gibberish in your head if you cannot understand what he typed. If you like die, we will do what is necessary with or without you.

Valkrie:


Infrastrctural loan? which infrastructures? Noo they are sharing the money among themselve nee...don't you get it..? we don't want any loan infrastructure loan, corona virus loan, APC loan or any other kind of loan, we don't want and don't need it bro...!!

Blind and deaf miscreants cannot see the Lagos-Ibadan Expressway, Lagos-Abeokuta-Ibadan Railway, Apapa-Oshodi-Iyana_Oworo Expressway, the Oyo-Ogbomoso Expressway, the Ajaokuta-Itakpe-Warri Railway and the even the 2nd Niger Bridge which your party of rogues could not do for 16 years that you were looting, stealing and sharing. These are few of the infrastructure that Buhari and APC are using the loans to do.

Now, list the things your evil party of rogues and looters PDP did for the 16 years you were in government.

StreetFight:


Blind and deaf miscreants cannot see the Lagos-Ibadan Expressway, Lagos-Abeokuta-Ibadan Railway, Apapa-Oshodi-Iyana_Oworo Expressway, the Oyo-Ogbomoso Expressway, the Ajaokuta-Itakpe-Warri Railway and the even the 2nd Niger Bridge which your party of rogues could not do for 16 years that you were looting, stealing and sharing. These are few of the infrastructure that Buhari and APC are using the loans to do.

Now, list the things your evil party of rogues and looters PDP did for the 16 years you were in government.

Guy why the outburst..?.I'm not a party man...
You sound so bitter..why?

Valkrie:


Guy why the outburst..?.I'm not a party man...
You sound so bitter..why?

I took bitter lemon, that made me bitter with saboteurs and miscreants, but if you don't vomit the bitterness in you, it will choke you to unconsciousness.

I am still waiting for the list of PDP 16 years projects.

StreetFight:


I took bitter lemon, that made me bitter with saboteurs and miscreants, but if you don't vomit the bitterness in you, it will choke you to unconsciousness.

I am still waiting for the list of PDP 16 years projects.

Bro sorry for your bitterness...but I told you I'm not a party man nor do I subscribe to any party...like APC, PDP too is a party of crooks...
We should be advocating for good governance and look beyond party...!!

Again like I wrote earlier we don't need any loan...cos it would end up in there pockets at the end of the day...
Maybe you dey get share I no know oh..!!

[/quote][quote author=Valkrie post=87503104]

Bro sorry for your bitterness...but I told you I'm not a party man nor do I subscribe to any party...like APC, PDP too is a party of crooks...
We should be advocating for good governance and look beyond party...!!

Again like I wrote earlier we don't need any loan...cos it would end up in there pockets at the end of the day...
Maybe you dey get share I no know oh..!!

If we don't need loan to build the necessary infrastructure, then you don't need to complain and compare Nigeria bad state of infrastructure to the developed countries.
Most of the developed countries infrastructure are built on loan

0m0nnakoda:

So says a hypocrite

omo see brutality..hahahaga no be small hypopo oooo

Southwest need loan because ... part of the money will go to Yoruba land

Audio 22 billion dollars.

Ndi Mkpu

aremuforlife:

If we don't need loan to build the necessary infrastructure, then you don't need to complain and compare Nigeria bad state of infrastructure to the developed countries.
Most of the developed countries infrastructure are built on loan

Bro, where did you see me ever complain..? I don't do that..the obvious truth is that Nigeria as a country is not working...There are conditions that would warrant and eneble development and Nigeria don't have that cos of sectional and personal interest...some think they are better than others and some feel some should be slave to them...no unity at all and we are talking of taking loan..loan to do what exactly?

All loans taken before what happen to them..? We should take stock of the past and see if we really need any loan..!!

Buhari that have undying love for oil

0m0nnakoda:
Thank God they have not already borrowed.
I said Nigeria would struggle to service the loan if oil crashed they said our mouth was stinking.

They bulldozed it through the rubber stamp Senate with a projected benchmark of $60.

One wonders whether Buhari has any input whatsoever into the budget.
Nigeria shoul prepare for $20 oil for years to come.
I wonder whether we can even pay /service our existing debt at this price

You sound has if you have more knowledge than those who are in charge of bugdet planning even With the current price they can still get the loans by changing the indexes and parameter.moreover did you think the lender don't do economy analysis of the borrower

The issue is, with low oil prices, Nigeria is going to be reliant on loans till the price of oil goes up.

The problem is, we are an economy that is reliant on the price of oil. And we need the price of oil to be above a certain price, the 'breakeven price' to avoid taking loans completely.

Our breakeven price as at 2017 is 139 dollars.(It was 122 dollars in 2015) Other countries have different breakeven prices.

Fitch’s forecast 2017 break-even oil prices, per barrel: Nigeria at $139 Bahrain at $84 Angola at $82 Oman at $75 Saudi Arabia at $74 Russia at $72 Kazakhstan at $71 Gabon at $66 Azerbaijan at $66 Iraq at $61 Abu Dhabi, United Arab Emirates, at $60 Republic of Congo at $52 Qatar at $51 Kuwait at $45. (SAURCE)

The issue isn't the taking of loans. I would be glad if we took loans for things like crucial power projects which would boost our non-oil sector greatly. Also, it would be good if subsides on oil and power were removed, which would attract investment and more jobs in both sectors....and save money crucially...which could be spent on things like health and education.

kikero:
The issue is, with low oil prices, Nigeria is going to be reliant on loans till the price of oil goes up.

The problem is, we are an economy that is reliant on the price of oil. And we need the price of oil to be above a certain price, the 'breakeven price' to avoid taking loans completely.

Our breakeven price as at 2017 is 139 dollars.(It was 122 dollars in 2015) Other countries have different breakeven prices.



The issue isn't the taking of loans. I would be glad if we took loans for things like crucial power projects which would boost our non-oil sector greatly. Also, it would be good if subsides on oil and power were removed, which would attract investment and more jobs in both sectors....and save money crucially...which could be spent on things like health and education.

Actually taking loans is the issue here.

Taking a loan implies the ability to pay


When you take loans you start paying back Immediately in instalments.


Therefore your capacity to borrow is a function of your revenue.

You must have the revenue to service your debt .


At $60 dollar oil we were using almost half of our revenue to service debt. Now that oil prices have crashed we would be using MOST of our revenue to service debt

It is not a complex issue the amount we can AFFORD to borrow is easily calculable

OP, they will avoid the thread.

Please, anyone has idea of how much CBN used overall to service naira against dollar.

Till they gave up of recent.

aremuforlife:

If we don't need loan to build the necessary infrastructure, then you don't need to complain and compare Nigeria bad state of infrastructure to the developed countries.
Most of the developed countries infrastructure are built on loan

Not foreign loans

Infrastructure is not the MOST IMPORTANT thing rather Human capital development.

America ONLY borrows IN DOLLARS

That means they develop ed their people and manufacturing capacity.

If they struggle to pay they can print more dollars.
Interest rates in America for government borrowing is under 3 % in Nigeria it is 13%


Oil is traded in dollars. When India buys oil from Nigeria they deal in dollars and US gets an arbitrage cut through their banks.

We cannot build all the infrastructure we need in 4 years.

If a patient is suffering clinical starvation we don't feed him a pig in o e day.

Bottomline borrowing MUST be linked to ability to pay and shoul not be AT ANY COST.

We CANNOT AFFORD any more borrowing now