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Most of these borrowed funds must have been stashed inside someone's bullion vans.......if you know, you know

Nigeria wake up we are still planning to borrow and then use it to fund NDDC and other projects that are not visible ha 9ja

allthingsgood:


All the debt incurred by this administration are paying for themselves. E.g Abuja train alone makes more than 5million a month. That's how the loaan will be repaid. Compared with past regimes where they just borrow money and pocket. Borrowing this time around is always tied to a project

Are you for real Are you educated? Which hole did you crawl out from? With people like you I weep for this country

no no no.. it's good. let it continue,afterall igbos are being marginalised out of the spending,therefore it is very good. Anything or anyone that spites the igbos is very good and welcome in hypocritical Nigeria. therefore let's borrow another 39 billion usds

This is what they will call ' doing the same thing and expecting a different result'.

I will always say this, Nigerian government is not focus. Its looks at so many things and never seems to achieve a good percentage at least in one.

Debt Management Office has always tried in reporting the deep hole the Nigerian government has dug, expecting to see a change of course but it seems the government feigns to know what its doing.

FG should just focus on social services, regulations and security as pointed out in the report

Vichot:

you just fall your hand by yourself
The estimated cost of the Abuja-Kaduna railproject was $874m. China's EXIM bank provided $500m as a concessionary loan for the project. The remainder was provided by Nigeria's Federal Government. now how many years will it take to pay up 170billion naira? with your 5m per month

lol..approximately only 3 thousand years.. that's just like a few years from now

Borrowhari no go hear u

What do Nigeria expects in a government with no sound economic team? President who does not know economy or how to make money?

You have evidence that past governments borrowed and pocket the money?

allthingsgood:


All the debt incurred by this administration are paying for themselves. E.g Abuja train alone makes more than 5million a month. That's how the loaan will be repaid. Compared with past regimes where they just borrow money and pocket. Borrowing this time around is always tied to a project

We can start Auctioning zombies on eBay and use the money we realizes from their Auctioning to offsets the loans... Nah them out us into these problem by vomiting a criminals that doesn't know his name into power out of greed

We can start Auctioning zombies on eBay and use the money we realizes from their Auctioning to offsets the loans... Nah them put us into these problem by vomiting a criminals that doesn't know his name into power out of greed

No let's borrow more! Gang of fraudsters borrowing on behalf of Nigeria...what other scam is bigger than this? Let's tell this current government to stop, we've had enough abeg!

My issue with Nigerians is that no one is reacting to the crass incompetence and corruption of this government.

They are failing all indices of national development not because of external difficulties but because of gross mismanagement and incompetence.

1.Finance and Budget - We know Covid19 dealt a huge blow but before that our debt profile had risen to frightening proportion.IMF says our loans are unsustainable and the government is unfazed and still borrows more. Imagine a country servicing her debt with more than 90% of her yearly revenue.All our Railways projects are also financed by the Chinese.
The loans are being used to finance the bloated and humongous recurrent expeditures of government. Salaries and over head costs.The National Assembly keeps giving approval inspite of glaring dangers.
2.Security- I cannot believe this government. All the service chiefs are from the North yet insecurity is worse than it has ever been since independence. Infact the life expectancy in the North east and west is below 35 years.And guess what the Government couldn't be bothered. They dont care that thousands of Nigerians are being killed daily and all the security apparatus are ineffective. The National Assembly has resolved that the Chiefs step aside. The presidency disagrees.These people are incompetent and yet you leave them in office.Every day you say they should go to the North east.Do you know the implications of soldiers resigning in mass?The terrorists would easily overrun the region and like we all know they have started making incursions to the south.Banditry and kidnappings is at an all time high.This alone should make Nigerians react but no we only talk and pray.
3.Infrastructure - Apart from Abuja which other region is being developed.None.No new bridges, No major roads, No major hospitals, No schools, nothing has been newly developed.After 5 years with Trillions of Naira budgeted for and spent we have nothing to show for it.
4. Administration- Apart from Amaechi name 1 performing Minister.All of them have failed yet they are still there.
5. Nepotism and Tribalism- Everything now in this country has been reserved for the northern elites not even the poor of the North. The bests jobs,juicy appointments,contracts name it, are mostly for the northern elites.
6.Education- Imagine cancelling WAEC because of corona.Smaller west African countries will successfully and safely organise this exams.Just because this government is lazy and cannot think outside the box its easy to just cancel the lives of millions of youth. Why do you think suicide is at an all time high?
All of this and Nigerians are still looking up and praying. When would we decide that enough is enough.I really dont get.We are just sitting down and these guys are ruining our country. Our foreign image is so low...Nigerians are not discriminated against. Somalians and Afghanistan are treated better than Nigerians.Can we get off our feets and save this country before we have nothing to hold on to

With the way successive governments especially this administration keep borrowing, a time will come when when we will become insolvent and be forced to declare bankruptcy. That is when the zombies who keep justifying foolishness will know these institutions giving out loans are not charities.

Borrowing is only good if the monies borrowed are put to productive use and not fickle ideas like modernizing NTA (wtf)!

Nigeria budgeted more for debt servicing in the 2020 budget than for capital projects. If that is not indicative of a problem, I don't know what else is. But nah, according to zombies; let the borrowing continue, Baba knows what he's doing. Smh.

The worst president in the history
of Nigeria

Vichot:

you just fall your hand by yourself
The estimated cost of the Abuja-Kaduna railproject was $874m. China's EXIM bank provided $500m as a concessionary loan for the project. The remainder was provided by Nigeria's Federal Government. now how many years will it take to pay up 170billion naira? with your 5m per month

i am sure all that would have been worked out in the loan agreement. The train will pay for itself, not nigerian budget. Thats the point, ok.

jaytee01:
Are you okay?

How much was spent on the Abuja project? Can your 5million service the loan and pay overhead costs....in how many years?

I know u have brain so use it. what is your business with how long it takes the train to pay for itself who do u think countries develop? especially countries that dont have oil income like us the problem with nigeria is that we go to school but remain ignorant and empty

Bobbyfreshh:


See analysis!!! 40billion dollar will repay by itself Think nah haba so all the borrowing to fund budgets are tied to what

Not surprised by your economic analysis

if u ever read the budget u will see that the borrowing is to fund projects in the budget not recurrent expenditure. Unlike pdp regime where they were borrowing their own money from commercial banks at exorbitant interests just to pay themselves salary

boom99:


Guy no vex ooo. I hate you

HAHAHA...Love u too. I know u love buhari the best President since 1999
Sai baba joor

Tomide007:

Million dollars?

\

Billion yen

mightyhazell:
lol..approximately only 3 thousand years.. that's just like a few years from now

hahahahahahahahahahaha

allthingsgood:
the sensible path of fiscal reforms to stimulate production and private investment.


Wtf does this mean
Nigerians love meaningless phrases.
You don't want to produce anything, u don't want govt to tax u and u also don't want govt to borrow. So how will we develop


Very stupid post

Are you for real? Ordinary Nigerians produce almost everything by themselves and we are taxed heavily and multiply. But your logic is that since the government don't want to invest in local production and the people are all taxed out, let's throw the laws of economics out the window and keep borrowing, right? Says more about you.

allthingsgood:
the sensible path of fiscal reforms to stimulate production and private investment.


Wtf does this mean
Nigerians love meaningless phrases.
You don't want to produce anything, u don't want govt to tax u and u also don't want govt to borrow. So how will we develop


Very stupid post

Better they don't tax us and still misuse the proceeds than burrow and still misuse it. This country needs a dictator that has d interest of the masses at heart.

allthingsgood:


I know u have brain so use it. what is your business with how long it takes the train to pay for itself who do u think countries develop? especially countries that dont have oil income like us the problem with nigeria is that we go to school but remain ignorant and empty

Stop showing your stupidity here.
It is my business because the debt is left for us all while your senile god will die and leave us holding the short end of the stick because of his incompetence and stupidity.

I pray Nigeria doesn't toe the line of Zambia,it would be a disgrace,it pains me most times our politicians sees it as national cake why plunge the country into huge debt.politics in Nigeria is seen as business instead of service,one person will want to take all the countries money yet not satisfied.they futures of our grand children are been mortgage with debt that few people in the country enjoyed ,this is not a Banana republic they should have conscience when pulling down they countries treasury .If our set of politicians leaves self interest to develop Nigeria , it's not a sin but a legacy .

Realresk:


Better they don't tax us and still misuse the proceeds than burrow and still misuse it. This country needs a dictator that has d interest of the masses at heart.

Thats like asking for a satan that has the interest of christians at heart

allthingsgood:


All the debt incurred by this administration are paying for themselves. E.g Abuja train alone makes more than 5million a month. That's how the loaan will be repaid. Compared with past regimes where they just borrow money and pocket. Borrowing this time around is always tied to a project

Until the Chinese stop running Abuja train and it will collapse then Nigeria won't be able to repay.

BigBashiru:


Until the Chinese stop running Abuja train and it will collapse then Nigeria won't be able to repay.

So if true and they collapse the train they are supposed to recoup their money from, who loses
The way some people think ehn. smh

allthingsgood:


So if true and they collapse the train they are supposed to recoup their money from, who loses
The way some people think ehn. smh

China built it and they were to run it for 2-3 years after which they will hand it over to Nigeria to run.

BigBashiru:


China built it and they were to run it for 2-3 years after which they will hand it over to Nigeria to run.

so what u saying neither here nor there

No mind them. Them go suffer more in IJN. Those people wee vote, those people that where like Buhari will fix the nation, he is our this and that.
To make matters worse, those fake propaganda the APC sold us, all for you and none for all.
Now that them eyes don't clear.
Make them loot am finish......laslas! Ijaw Youth go start them work, I kuku trust them.

LibertyRep:
Yet the borrower-in-chief wouldn't stop plunging the nation further into the cesspit