Dem don mortgage the whole kontiri

samsard:
The bolded is false. Abuja Kaduna railway for example is being subsidized. The problem is Nigerians think everything the government builds should be free

What they need is good managers

With time, they can increase the fare

If you don't like it, try flights or buses

Railway fares are the cheapest in Nigeria

Besides, they recently increased the fares of the route

9ja ti cast

Apc rats una dey hear So China partially owns Nigeria under apc govt?

Its alright.

By the time apc will finish with Nigeria Somalia will look like Japan compare to how Nigeria will look then.

So you and Buhari went to signed your entire family heads and not mine to a country like China on such dead end loan agreement because of one useless rail shit projects and you fully know default will surely arise but went ahead Mr Buhari and Amaechi

Ok nah.

sinkhole:
I can't even understand the thinking of the people up there at all!
We are still battling one huge loan (abi na contract or agreement ) we defaulted in London court and it is almost certain that the next government will also default on this China agreement.
Why do these people want to sell Nigeria?

Brothers for the first time in my history of Nairalandism

i have no comment !

Nigeria in one chance bus truly truly

Hmmn.

ursullalinda:
Yet we want to go borrowing knowing fully well that we must default.......How did we settle for this greedy and selfish people as leaders.........they are only after their loot and not what happens after.

Don't always profess negativity, Profess solutions to problems. I hate it when people condemn any and all actions government makes at solving a problem.
How do we revive our dilapidated railways without borrowing from international lenders, and how do you think is the best ways to ensure international lenders get their money back. If you disagree with the terms of the loan, let me know why.

Or, do you want a country of over 200 million people to continue to move people and goods through poor roads?

ursullalinda:
Yet we want to go borrowing knowing fully well that we must default.......How did we settle for this greedy and selfish people as leaders.........they are only after their loot and not what happens after.

Lol...they know they won't be around when the assets are being seized and taken over. That's why they are borrowing recklessly and stealing the money. Nigerian youths better start making sure that these evil old politicians show workings for all the loans. At least if we see what the loans are being used for and the amount tally with the structures, it will be fair. Las las Chinese go take over and we go hear weeeeen.

wirinet:

Don't always profess negativity, Profess solutions to problems. I hate it when people condemn any and all actions government makes at solving a problem.
How do we revive our dilapidated railways without borrowing from international lenders, and how do you think is the best ways to ensure international lenders get their money back. If you disagree with the terms of the loan, let me know why.

Or, do you want a country of over 200 million people to continue to move people and goods through poor roads?

zombie ! with rotten maggot brain

Guess what, I willing to bet that the $5.3bn (or maybe something slightly more than that is sufficient to do railroads for the entire country.

How can we be spending $5.3bn on a railroad from Ibadan to Kano? A railroad that does is not latest technology? These are railroads used for locomotive trains and we are spending this much, to connect just 2 major cities?
How much will they spend to connect Lagos to Abuja?
How much will they spend to connect Abuja to Calabar?
This is why I have kept on insisting this country split? It is not worth it

Heathrow44:
Borrowing is not bad especially when its used to fund key infrastructures and social services, what doesn't augur well with me is the sell of Nigerians sovereignty for loans, Amaechi in d process of trying to leave lasting legacy as a transportation minister has sold the country to the Chinese, for personal interests, this is who wants to become president! Nonsense! This infrastructure is a short term solution to a long term problem and would be short lived, so in making decision we should use foresight and think long term, cos the unborn generation are who would suffer the brunt of this useless agreement! Amaechi lacks foresight and the NASS should carry out their foresight functions which they are constitutionally mandated to! Amaechi as a matter of urgency should step aside and halt further implementation process till a probe and the terms and conditions of this weird agreement is understood by both parties, this strategy is how China holds country's to ransom including the US which is heavily indebted to China! The same carrot approach!

So, they collect these loans, buy all that is needed from the Chinese, use the Chinese to do the inferior jobs they do. In few years, you can't see what the money was used for.

ebbo:


Na mouth dey use diversify? U also need a lot a lot of to be able to diversify na. Bushman like u.

Thanks. Happy?

kingphilip:
e weak me too

They'll just loot the money and take their children out only to allow other Nigerians who are not opportuned to loot theirs bear the brunt of the sales of the country's sovereignty.

I weep for Nigeria

This particular loan cannot be looted. The money is not paid directly to anybody's bank account. The money is used directly to fund the project according to the contract terms, and the contract is being handled by the Chinese themselves. This is the same model the Chinese has been unsung to build infrastructure all over Africa. You default on contract terms and the seize the assets until they recover their loans.

The truth is China will not just take over the railway to recover their loan in case Nigeria defaults, rather China will take over any assets of their choice.
They could choose to take control of Nigerian Custom Service or even NNPC. Is it even true China does not transfer this loan electronically? The loan is usually delivered as cargo to us, so I learnt.
There might be no or sketchy records of this transaction.

SmartPolician:


There nothing wrong with the agreement

Anyone who borrows money should be ready to pay back

The agreement is that they seize the project in question not that the Chinese will take over Nigeria's government.

Besides, the project is profitable, so I don't know why Nigeria should default at repaying the loan

Let's stop making a mountain out of a molehill

They know Nigeria has no plans to pay

Nigeria won't pay

Why are you thinking like an European

Ask them all the money they realised during covid 19, all the Abacha loot money, all the whistle blower money, where are they?

Those people in the helms of affair all they think of is chop, loot, steal, empty it, clear treasury, hold total control so there won't be nobody to question them and then flex muscle finito.

Pathetic filth! The redundant coupist and cohorts have finally auctioned the shithole...

pafra:
Guys it's easy to criticis the government. Critically let's look at the situation of Nigeria.

Nigeria is a mono economy that depends on oil. The price have been down since the government came in it means, the amount realize from sells of oil can not finance our budget.

Please as Nigeria that want to see the country better let's list other forms of financing the budget outside borrowing.

Forget hate and let's talk about the nation

What are they doing with the #50 stamp duty any time I perform transaction in banks?
What are they doing with 5% VAT and 5% Tax anytime I buy stuff from malls and supermarkets?
What are they doing with Tax on recharge cards any time I recharged?
What are they doing with Charges from import duties?
What are they doing from Custom duties?

Now they want to introduce Tenancy Tax.

I've not talked of the oil they sell, the minerals they sell and monies from other Nigeria infrastructure.

Oga truth be told, those guys are thieves

anonimi:



www.nairaland.com/attachments/4916463_img1217_jpegf36bc6f0e3954883e8b3b5a692deed65


www.nairaland.com/attachments/4916464_img1218_jpeg869064c69e3965560ae57d6aeb37a7f2

Hmmm

Bar1941:
I know our government is useless and may likely default from the agreement but the issue is even if China seizes the assets, they will still be in Nigeria they can't transplant them to China, it will still be for the betterment of our people.

Haha, the Chinese wouldn't care about our railway stations than we would!

pafra:
Guys it's easy to criticis the government. Critically let's look at the situation of Nigeria.

Nigeria is a mono economy that depends on oil. The price have been down since the government came in it means, the amount realize from sells of oil can not finance our budget.

Please as Nigeria that want to see the country better let's list other forms of financing the budget outside borrowing.

Forget hate and let's talk about the nation

Abeg forget all these jargons you wrote here.

The price of oil is down yet we see and hear of stealing here and there and you think it's all because price of oil is down.

Why not talk about effectively managing the funds and other resources we have.

So if you want to build a house for yourself, you will go borrowing money from banks and put yourself and your next generations in debts.

You say you are fighting corruption to save funds yet you keep borrowing money anyhow and ending up in terrible debts.

Stop defending a reckless govt!!!

Take over sharply

China will seize assets because Nigeria will default

Interesting.

well, I'm short of words......chinalizing Nigeria is better than islamizing Nigeria.

ehen thats okay now they can also seize other assets like the senate house of reps the presidency nddc nnpc and other major ministries am sure with china who is know to dish out terrible sentences for corrupt officials at the helm of affairs we would be better off

wirinet:

This particular loan cannot be looted. The money is not paid directly to anybody's bank account. The money is used directly to fund the project according to the contract terms, and the contract is being handled by the Chinese themselves. This is the same model the Chinese has been unsung to build infrastructure all over Africa. You default on contract terms and the seize the assets until they recover their loans.

please can you provide the contract terms let me study it too

See loans taken from china since 2010, we have seen what Buhari did with his own loan. Show me what that Otuoke man did with his.

wirinet:

Don't always profess negativity, Profess solutions to problems. I hate it when people condemn any and all actions government makes at solving a problem.
How do we revive our dilapidated railways without borrowing from international lenders, and how do you think is the best ways to ensure international lenders get their money back. If you disagree with the terms of the loan, let me know why.

Or, do you want a country of over 200 million people to continue to move people and goods through poor roads?

you can only profess solution in a sane country, Nigeria is not yet a sane country... If you prefer solution, don't be surprised if your solution is taken and then dumped because of some interest which is greater than national interest are involved.

Nigeria's case has defied all solutions.

If Nigeria sticks to contract and has plans, who won't welcome such contracts.

Even if there are plans believe me, later on, no matter the amount of money saved for repayment one some groups of fat headed fellow from the north or south especially north would put hand in that savings and make sure it empties.

Then a dead end probe would start... Las las nothing would come out of it. Case closed.

Then the Chinese can make times three of that loan and repatriated, while influencing the government through corruption and subjecting the masses to all kind of treatment and silly transport fares that nobody would be able to check.


We don't have the culture of following up project, neither do we have the culture of paying debt not to talk of maintenance that is not the topic of the day.

Hi