And default we will

kayjay69:
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.

On what basis are you placing your bet? Are you a railway engineer or a train manufacturer?

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?

As I said, provide is an alternative cost for the project, since you are sure it is over inflated. Now, I am not questioning your assertion, I am just asking for proof.

It does just include railroads and locomotive trains, but also stations and support services for the running of the trains. The train will connect not just two major cities, but several other cities as stop overs.

The other rail lines are also ongoing.

This is why I have kept on insisting this country split? It is not worth it

How will splitting the country help the transportation crisis we have in the country now. Will splitting the country ensure effective rail transportation between Lagos and Kano or Calabar and Kano? Or are you telling me that people would not need to travel between Calabar and Kano once we split?

AmuDimpka:
And default we will

And seizure of the asset the Chinese will.

Interesting.

honorable minister, it's ok, it's ok, it's ok..
the region they the loan was used to execute their projects should repay it.

So what is wrong with that? You are asking for $5.3bn.

[b]Just give that sovereignty.[/b]
�������

You sell the northern territory to China, no issue.

King44:
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.

We all know our inadequacies and flaws. I am asking how we resolve them or move forward. What is your suggestion?

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

no need weeping, we allowed them to do that.

they make bad decisions for us knowing that we won't hold them accountable, how many Nigeria's have ever read the constitution?

They d rather watch BB naija.

FirstSon01:
I always knew right from time that China had something to gain by borrowing African countries millions of foreign exchange that they know the countries can't pay back. Check what the Chinese are doing to Uighur Muslims. They're modern day slave masters and will do 7× of what the Europeans did to Africans.

Majority ofmuslims don't know these, almost anything buhari does is ok cos its their own,the moment the president yielded to China they followed..without critically examining issues.

Same way U.S told Nigeria that their debt profile was already high for a developing nation, and borrowing from them could nt help Nigeria's bleeding economy. Nigeria was offered tips to bossy it's economy by the US but no, Buhari chosed the short cut. China!

Look were we are to day..buhari's administration will vacate Nigeria with huge foreign debt and depleted external reserves..

With forex issues,naira plumet deeper aching for inflation, major source of foreign exchange has drop in its ability to prize higher because of low demand..with Nigeria having little to offer the world in the absence of oil, naira is now 400+ to dollar...before 2023 we go hear am.

Nigerian politicians would so borrow that other developed Nations would begin to fight for who owns Nigeria..

pafra:


Bro, we are not talking about mismanagement we are talking about borrowing based on the expected revenue and the amount budgeted for

So d revenue that is received, is not going to be managed? Or what do u do with revenue in relation to expenses in a budget?

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

Let me try to address your point on why borrowing to finance these types of project is not good for the country.

First, the country should get serious with diversification and relive itself from being a one income economy.

Secondly, taking these kind of loans is a very bad idea because:

- these kinds of projects can never raise enough money in the stipulated time to pay back the loan.
- the Chinese are bringing most of the, equipments, raw materials and high level labour to carry out the project. All these at a vastly inflated value above the current market rate. Thus most of the loan money stays back in their country and the nigerian worker don't get the proper experience and knowledge sharing need to replicate such project.


These are just a few reasons,

Now what should the government do?

- these rail projects are not of a high priority for now, due to the low oil price.

The priority is diversification through agriculture, solid minerals, develope more service sector businesses and solid minerals.

If these sectors can be developed to an extent, they will fund the rails and infrastructural development plans of governemt. If not we are just puting the cart before the horse.

wirinet:

And seizure of the asset the Chinese will.

And the looters would be exonerated...while those that shouted "change " from the West would shut up while the wailers from the East exonerated

Interesting times....would they take apapa port or MM airport or Abuja airport

Do you have idea

and someone is telling me China won't eventually rule the world. I laugh

Please whenever you have time kindly Google is '' Whats going on between Zimbabwe and China ''


Welcome to modern day slavery


It still baffle me

Why they can't make ajakuta steel complex
Work
Despite the fact that it has been completed 98%


My department went there in 2018
During our field work excersie

We were taken round the complex

I was so sad

Cause that place is just wasting

And yet we keep importing cars

Even this rail tracks are imported

Chinese debt trap.

Which infrastructure have they been building? Stomach infrastructure?

dre11:


https://www.dailytrust.com.ng/loans-china-can-seize-assets-if-nigeria-defaults-amaechi.html

Who did this to us

pafra:


Why do you think I am defending Buhari. Can't we have mean full discussion without politics?
Check my other post for confirmation.

I agree with you on diversification but that will be on the long run. It can not produce the kind of money needed for the railways in the short run.

But it can in the long-term when proper infrastructure have been put in place

I am in no way supporting the government. But will agree on borrowing for critical infrastructure if the money borrowed are meant for the purpose and not looted

Bro, the borrowed money is utterly looted so it will become bad debts. This government will plunge this country into eternal debt by the time they are done with their tenure. They are very poor with economic skills

SmartPolician:


I want you to present a logical argument

Stop quoting me if you cannot

You lack the intellectual basis to even talk about 'logical argument'!!!

If you didn't, you would not describe the reactions to the above reports as 'Making mountains out of Molehills'!

Like I said, continue in your self deceit... There is a place and time for intellectual discourse. This is neither the place, and I certainly won't spare my precious time bandying words. Thanks.

pafra:


Why do you think I am defending Buhari. Can't we have mean full discussion without politics?
Check my other post for confirmation.

I agree with you on diversification but that will be on the long run. It can not produce the kind of money needed for the railways in the short run.

But it can in the long-term when proper infrastructure have been put in place

I am in no way supporting the government. But will agree on borrowing for critical infrastructure if the money borrowed are meant for the purpose and not looted

Bro, the borrowed money is utterly looted so it will become bad debts. This government will plunge this country into eternal debt by the time they are done with their tenure. They are very poor with economic skills

*Why can't the Government diversify since 2015?
*Why can't the allowances of lawmakers be reduced?
*NASS Complex is being renovated for billions of naira, what do you have to say about that?
*GMB was shouting "go back to the farm", but fulani herdsmen kept on killing innocent folks, what steps has the "government" taken to curb this menace?
*APC kept on blaming PDP for their incompetence, yet you don't want people to call them to account?
*Compare d amount allocated to health & education to NASS's own in the revised budget.

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

wirinet:

We all know our inadequacies and flaws. I am asking how we resolve them or move forward. What is your suggestion?

There is no need of thinking deeply to profess a solution because... Other solutions that has been professed to bring back the country on her feet who among them ( organs of the gvt and the gvt) has put it in use... So why should we even bother.


But if I should try and give a fk about Nigeria which I don't give anymore but it just that I can't let someone that doesn't care about my wellbeing sell me into slavery.

Solution as simple as a abc. Let's take a look at was suggested or outcome of the CONFAB meeting, if you know what mean. Implement it and then other solution would follow. Without addressing we would remain in this mess.

Another one Restructure... Not Southern or Northern type of restructure I mean through featuring of the country that would address the foundational problems first.

But who go take that advice nobody and why? Because some people feed off the set backs of the country.

stevnwigw1:
So how does China make this money that they are lending to countries, why can't we study them and start make our own wealth ,instead of borrowing.

That is what Pete o I said during the debate , but know we don’t want those kind of people ,e go red soon for everybody in this country

AmuDimpka:

And the looters would be exonerated...while those that shouted "change " from the West would shut up while the wailers from the East exonerated

Interesting times....would they take apapa port or MM airport or Abuja airport

Do you have idea

Please stop wailing Jonathan's loss of 2015, even Jonathan is fed up with the wailing. The rail project did not start under those that shouted "change " from the West. It was started under Obasanjo. In fact it was president jonathan that signed the contract with the Chinese, but he did not fulfil his end of the contract. Buhari came in and renegotiate the contract.

The contract has gone far now, are you suggesting Buhari cancel the contract and abandon the whole project? What is your suggestion on the way forward?

soon Nigeria will still be a slave to China

truthstands01:
Its obvious China is mortgaging the world but only foolish leaders of some nations are buying into it by borrowing from them. One of the African presidents said only foolish African countries would be borrowing from China. Nigeria is in deep mess under APC.

The US watch dog has been sounding the warning for a very long time now..NATIONS THAT HAVE EARS LET THEM HEAR..

Chei dem don mortgage their tommorow third world country......

There you have it my fellow Nigerians, Amaechi is a fool as well as a thief..

Given Nigeria's track record on debt repayments why would you allow such a contract to be signed..

Dpearlz:


Let me try to address your point on why borrowing to finance these types of project is not good for the country.

First, the country should get serious with diversification and relive itself from being a one income economy.

Secondly, taking these kind of loans is a very bad idea because:

- these kinds of projects can never raise enough money in the stipulated time to pay back the loan.
- the Chinese are bringing most of the, equipments, raw materials and high level labour to carry out the project. All these at a vastly inflated value above the current market rate. Thus most of the loan money stays back in their country and the nigerian worker don't get the proper experience and knowledge sharing need to replicate such project.


These are just a few reasons,

Now what should the government do?

- these rail projects are not of a high priority for now, due to the low oil price.

The priority is diversification through agriculture, solid minerals, develope more service sector businesses and solid minerals.

If these sectors can be developed to an extent, they will fund the rails and infrastructural development plans of governemt. If not we are just puting the cart before the horse.

and you will transport your agricultural products on your head, kudos!

wirinet:

On what basis are you placing your bet? Are you a railway engineer or a train manufacturer?


As I said, provide is an alternative cost for the project, since you are sure it is over inflated. Now, I am not questioning your assertion, I am just asking for proof.

It does just include railroads and locomotive trains, but also stations and support services for the running of the trains. The train will connect not just two major cities, but several other cities as stop overs.

The other rail lines are also ongoing.




How will splitting the country help the transportation crisis we have in the country now. Will splitting the country ensure effective rail transportation between Lagos and Kano or Calabar and Kano? Or are you telling me that people would not need to travel between Calabar and Kano once we split?

Oga the people you discuss with here think only in the short term! save ur strength.

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.

now Amechi will fight and bribe his way in making sure that the loan goes through cos 1/3rd of the 5.2b$ will go his pocket..the Chinese are very currupt outside their country,and thats why our government love them