Buhari's penchant for loans as "a quick way out" is unparalleled

The article makes a lot of sense. Unfortunately, we've been burdened with a political class that is mentally retarded and deeply short-sighted. Governance shouldn't be an all-comers affair. Only people with the requisite brain power (not degrees) should be at the helm of affairs planning an exit of our economy from consumer mode to production and service mode. This burden of debt will not be paid by those currently in power they'll leave it for the future generations. Our collective stupidity and myopia as a people is laughable...

soberdrunk:
If they like they should continue borrowing ,Me I sha know say I nor collect money from any foreign government, my debts are local and he nor pass 650k!

Bros that one use style heavy o

In this state, Nigeria is like an HIV disease. It can be managed but cannot be cured!

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

5 million naira is around $11,000+.
$5 billion / $11,000+
hope you get the gist of the article?

Chinese are so smart, they know if they print billions of Yuans and inject into their economy it will cause inflation,
so what do they do?
They print the yuans and loan it to 3rd world countries, the 3rd world countries make serviced payments on the loan
back to China in USD which comes as foreign earnings, inflation issue solved.
When will Nigerian leaders learn and stop borrowing?

It is a government of intergrity.

scriptures01:


5 million naira is around $11,000+.
$5 billion / $11,000+
hope you get the gist of the article?

Where did u get $5billion from

Our children will curse us if we don't do something about these useless zombies.

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

What the fvck?

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

27 - 30 years... Wahala dey o

we dont produce enough sir. we import almost everything



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.[/quote]