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How Buhari Recklessly Spend Loans Obtained From China And It Consequences - Politics - Nairaland

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How Buhari Recklessly Spend Loans Obtained From China And It Consequences by Superjazz: 9:10pm On Apr 12
Nigeria seem to be a country governed by cows and dullards.the FG of Nigeria secured over 5billion dollars loan over the last 3 years from China.its a shame that Nigeria collects loans and spend on projects like railway and road construction.projects we can handle and fundraise from our oil exports and internally generated revenues.without even considering industralisation of nigeria.below is a minimum cost of setting up some key industries just with a rough cost of 1 billion dollars and create thousands of jobs while promoting our industrial might as a country
Mobile phone software industry:500 thousand to 10 million dollars
Automobile industry: 50million to 150 million dollars
electronic industries :1 million to 5 million dollars
others plastics/tires/food processing/medical equipment:less than 20 million dollars in total
In aspect of power generation a worldclass standard windturbine with an output of 2MW cost 4million dollars a 500 windturbine farm will produce 1000megawatts of electricity at a cost of 2 million dollars(rough estimate)imagine 1000MW added to the national grid.yet this clueless government want to still go ahead to collect 17billion dollar loan from China again.without any meaniful use.as we speak now key Zambian and Sri Lankan assets are been controlled by the chinese.only God knows what the Chinese will do to us when we fail to pay back all these reckless loans.
Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by rusher14: 9:16pm On Apr 12
Stop writing nonsense.

All loans are tied to projects the chinese themselves undertake just like the rail projects you see.

6 Likes

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by Superjazz: 9:33pm On Apr 12
rusher14:
Stop writing nonsense.

All loans are tied to projects the chinese themselves undertake just like the rail projects you see.
You have no idea of what am driving at,why doesn't buhari take loans and build our manufacturing might as a country u have no idea of how many manufacturing companies1 billion dollar can create and millions of Nigerians it would take out of unemployment.

5 Likes 3 Shares

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by rusher14: 9:36pm On Apr 12
Superjazz:

You have no idea of what am driving at,why doesn't buhari take loans and build our manufacturing might as a country u have no idea of how many manufacturing companies1 billion dollar can create and millions of Nigerians it would take out of unemployment.

Enterprise is in the hands of me and you whilst government takes care of security and utilities.

Watch how Dangote would manage his refinery whilst NNPC would never.

Nothing stops you from seeking loans to set up a manufacturing company just as Dangote has a refinery.

5 Likes

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by 360degreess(m): 9:38pm On Apr 12
baseless points from yamiri

2 Likes

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by Superjazz: 9:45pm On Apr 12
360degreess:
baseless points from yamiri
please this thread is not for dull people that can't read and understand.please leave my posts and thread go and look for the one you can compreprend this topic is above your level of comprehension.

6 Likes 1 Share

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by Superjazz: 9:49pm On Apr 12
rusher14:


Enterprise is in the hands of me and you whilst government takes care of security and utilities.

Watch how Dangote would manage his refinery whilst NNPC would never.

Nothing stops you from seeking loans to set up a manufacturing company just as Dangote has a refinery.
Research about Isreal Russia and india.lets take Isreal and Russia for example key industries aviation automobiles,electronics software millitary manufacturing industries are been runned by the government these are strategic industries.after creating them they became jointstock companies.but the government where the brain behind them been set up and they make money from it.can Nigeria be like that?

4 Likes 1 Share

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by Ojiofor: 9:55pm On Apr 12
5 billion dollars spent on railways and yet the project is uncompleted and they want more billions of dollars loan for same project.

4 Likes

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by rusher14: 9:58pm On Apr 12
Superjazz:

Research about Isreal Russia and india.lets take Isreal and Russia for example key industries aviation automobiles,electronics software millitary manufacturing industries are been runned by the government these are strategic industries.after creating them they became jointstock companies.but the government where the brain behind them been set up and they make money from it.can Nigeria be like that?

Your work ethic is nothing like that and to think otherwise is to bury your heads in the sand.

NIGERIANS and I'll repeat it again NIGERIANS must take the reins of enterprise and productivity for the standard of living to be satisfactory.

Even if Jesus were to.come down and rule us, without Nigerians adopting science, research, productivity it would always be a 3rd world country.

The effort with which the youth manufacture fake news should otherwise have been invested in positive enterprise.

Draw.

Make shoes.

Create games.

Make chocolate rather than simply selling cocoa pods abroad.

Take restaurant trade as serious business.

Beautify your environment.

It's all hands on deck.

If the youth like they can continue wasting their lives on politics and fake news.

2 Likes

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by rusher14: 10:00pm On Apr 12
Ojiofor:
5 billion dollars spent on railways and yet the project is uncompleted and they want more billions of dollars loan for same project.

Stop lying.

Any further loans are for extensions and new routes not previously covered in the first phase.

Rail projects are in phases and they don't come cheap.

If I recall how in 2015 a segment of the Nigerian society was opposing the loans, yet they can only look in envy at how the tracks have been laid and already begin to service the route, I can only shake my head.

If you like, repeat the mistakes of 2015.

1 Like

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by Ojiofor: 10:32pm On Apr 12
rusher14:


Stop lying.

Any further loans are for extensions and new routes not previously covered in the first phase.

Rail projects are in phases and they don't come cheap.

If I recall how in 2015 a segment of the Nigerian society was opposing the loans, yet they can only look in envy at how the tracks have been laid and already begin to service the route, I can only shake my head.

If you like, repeat the mistakes of 2015.

which one have they commissioned?
Fantastically corrupt and inflated projects.

3 Likes 1 Share

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by StreetFight: 10:36pm On Apr 12
The OP is suffering from mental imbalance.

Below is a list of few of the projects that Buhari used the Chinese loans for;

Lagos-Ibadan Expressway
Lagos-Abeokuta-Ibadan Railway
Apapa-Oshodi-Iyana_Oworo Expressway
Oyo-Ogbomoso Expressway
2nd Niger Bridge
Kaduna-Abuja Railway
Ajaokuta-Itakpe-Warri Expressway
Remodelling of several International Airports


Please list what Goatluck Jonaddaft and the world bank fraudster Ngozi Iwealla used all the loans they collected for

2 Likes 1 Share

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by ejibaba(m): 11:56pm On Apr 12
rusher14:
Stop writing nonsense.

All loans are tied to projects the chinese themselves undertake just like the rail projects you see.

How many have been completed??

1 Like

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by GamalNasser: 12:02am On Apr 13
Superjazz:

You have no idea of what am driving at,why doesn't buhari take loans and build our manufacturing might as a country u have no idea of how many manufacturing companies1 billion dollar can create and millions of Nigerians it would take out of unemployment.

Please that guy will never understand your point and even if he does he is paid not understand U so just forget him

4 Likes 1 Share

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by ivolt: 12:09am On Apr 13
Superjazz:

You have no idea of what am driving at,why doesn't buhari take loans and build our manufacturing might as a country u have no idea of how many manufacturing companies1 billion dollar can create and millions of Nigerians it would take out of unemployment.

It is not the government business to build manufacturing companies.

They will just be another group collecting salaries and subsidies from the government.
Borrowing to pay citizens isn't the same as taking people out of unemployment.

If you have a manufacturing business process, approach your bank or BOI for loans.

2 Likes 1 Share

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by rusher14: 12:22am On Apr 13
GamalNasser:


Please that guy will never understand your point and even if he does he is paid not understand U so just forget him

Don't be stupid.

Who pays me to air my opinion?

As you go from thread to thread seeking to demonize the president , can you tell us who pays you for doing so?

You lack proper upbringing.

2 Likes

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by bigpicture001: 12:26am On Apr 13
rusher14:


Enterprise is in the hands of me and you whilst government takes care of security and utilities.

Watch how Dangote would manage his refinery whilst NNPC would never.

Nothing stops you from seeking loans to set up a manufacturing company just as Dangote has a refinery.

Wrong notion... Who told you that economics...?

1 Like

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by bigpicture001: 12:28am On Apr 13
rusher14:


Your work ethic is nothing like that and to think otherwise is to bury your heads in the sand.

NIGERIANS and I'll repeat it again NIGERIANS must take the reins of enterprise and productivity for the standard of living to be satisfactory.

Even if Jesus were to.come down and rule us, without Nigerians adopting science, research, productivity it would always be a 3rd world country.

The effort with which the youth manufacture fake news should otherwise have been invested in positive enterprise.

Draw.

Make shoes.

Create games.

Make chocolate rather than simply selling cocoa pods abroad.

Take restaurant trade as serious business.

Beautify your environment.

It's all hands on deck.

If the youth like they can continue wasting their lives on politics and fake news.

Brother your promoting wrong economics
Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by bigpicture001: 12:29am On Apr 13
rusher14:


Don't be stupid.

Who pays me to air my opinion?

As you go from thread to thread seeking to demonize the president , can you tell us who pays you for doing so?

You lack proper upbringing.

Brother it is you DAT lack the basic understanding of the economy

1 Like

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by bigpicture001: 12:30am On Apr 13
ivolt:


It is not the government business to build manufacturing companies.

They will just be another group collecting salaries and subsidies from the government.
Borrowing to pay citizens isn't the same as taking people out of unemployment.

If you have a manufacturing business process, approach your bank or BOI for loans.

Brother which textbook taught you that....?
Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by rusher14: 12:30am On Apr 13
bigpicture001:


Wrong notion... Who told you that economics...?

Do you understand the concept of capitalism?

Do you understand why it is commonly said that government has no business in business?

From Amazon to Apple, from cocacola to Quaker oats, please tell us which of these organisations were set up using loans government sought on their behalf.

1 Like

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by bigpicture001: 12:31am On Apr 13
rusher14:


Stop lying.

Any further loans are for extensions and new routes not previously covered in the first phase.

Rail projects are in phases and they don't come cheap.

If I recall how in 2015 a segment of the Nigerian society was opposing the loans, yet they can only look in envy at how the tracks have been laid and already begin to service the route, I can only shake my head.

If you like, repeat the mistakes of 2015.

Now I know your a patty man devoid of good reasoning

1 Like

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by rusher14: 12:32am On Apr 13
bigpicture001:


Now I know your a patty man devoid of good reasoning

Seems you are hungry this evening.

1 Like

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by bigpicture001: 12:32am On Apr 13
StreetFight:
The OP is suffering from mental imbalance.

Below is a list of few of the projects that Buhari used the Chinese loans for;

Lagos-Ibadan Expressway
Lagos-Abeokuta-Ibadan Railway
Apapa-Oshodi-Iyana_Oworo Expressway
Oyo-Ogbomoso Expressway
2nd Niger Bridge
Kaduna-Abuja Railway
Ajaokuta-Itakpe-Warri Expressway
Remodelling of several International Airports


Please list what Goatluck Jonaddaft and the world bank fraudster Ngozi Iwealla used all the loans they collected for

Please reason with brain....don't step on the brain by placing it under your shoe

1 Like

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by 2mch(m): 12:34am On Apr 13
Let China keep giving Buhari enterprises money with no evidence of the money working on ground. They will have to collect their loan back from the Buhari family..,
Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by AghaAguike(m): 12:38am On Apr 13
A man who lost election 3 times, do u know how mush he lost within that period? But that is not the issue. the issue is this, can anyone tell me when last their heard from buhari ministers last.
Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by bigpicture001: 12:43am On Apr 13
rusher14:


Do you understand the concept of capitalism?

Do you understand why it is commonly said that government has no business in business?

From Amazon to Apple, from cocacola to Quaker oats, please tell us which of these organisations were set up using loans government sought on their behalf.

Now u ask the master;....bro, do u understand that Nigeria nd the US don't practise same democracy..? Even when the US wrote the nooks ng guideline of democracy....... Reason,the US is an homogeneous society while Nigeria is not....so if we don't rotate...it wouldn't even work at all

Now com to your ideology in economy...these books you read are written by greats for developed society..where they HV a lot of capital by the investing rich...there ,they see opportunity and take it..and this makes your policies of incentive to attract private exercise to work out...

But in Nigeria and Africa where there is less physical,financial and human capital...even if you say tax is zero percent...investors still don't com....this is not cuz the opportunity is not there, but cuz....there are other factors international investors consider: like your legal system,infrastructure, health, industrial policy , policies on capital flight etc.......

This means an undeveloped nation that goes by the established policies in the textbook written for advanced economy will continue to lagg behind in development......their government who are the holders of most if the capitals in such poor countries will HV to step in and create dox critical industries on whose base the economy can kickstart....

Thereafter,cuz of corruption,nepotism,ethnicity,favouritism... Etc..it can then privatize them and bring them back to private ownership....... There are many ways to kill a rat.... Not only by the trap......ifbu live in a perculuer society,peculiar solutions are required to achieve growth....

Hope u get it better now

3 Likes

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by bigpicture001: 12:45am On Apr 13
rusher14:


Seems you are hungry this evening.

Bro I am oooo...didn't eat easter rice.lol
Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by ivolt: 12:51am On Apr 13
bigpicture001:


Brother which textbook taught you that....?
I don't need any textbook to know the role of a government.
States where people primarily depend on government jobs or help are ticking time bombs.

1 Like 1 Share

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by bigpicture001: 12:52am On Apr 13
ivolt:

I don't need any textbook to know the role of a government.
States where people primarily depend on government jobs or help are ticking time bombs.

That is what they told you...its funny how you swallow all the pill without checking for a poisonous one......
Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by ivolt: 12:58am On Apr 13
bigpicture001:


That is what they told you...its funny how you swallow all the pill without checking for a poisonous one......
According to you, your knowledge comes from textbooks.

It is not a surprise that there is no single successful socialist country in existence.
Well, the good news is that everyone will end up equally poor, so no envy.

I think I might just have stumbled into another YouTube conspiracies believer.
Who are "they"?

1 Like 1 Share

Re: How Buhari Recklessly Spend Loans Obtained From China And It Consequences by bigpicture001: 12:58am On Apr 13
ivolt:

I don't need any textbook to know the role of a government.
States where people primarily depend on government jobs or help are ticking time bombs.

Bro...sorry for this question..honestly I don't mean to belittle u in any way by asking this..this is in a bid to push tru ur understanding of what I mean

Plz what is a cash crop..?

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