IME1:

All these awareness from different places, are the people in authority listening and learning and avoiding future problems?

And you think they are bothered about it? Their investments and savings are abroad...so las las e no affect them and their generations

What do you expect from someone who has lived off government all his life. He has never managed a business or a company before. He couldn't even turn his few cows into a ranch after leaving office as Head of State. All he has is the fake integrity packaged for voters in the SE by Tinubu

I pity the next administration, Osun will be a child's play. After wrecking the economy, Buhari and his team will soon retire while the next administration will bear the burden because by then they wouldn't be able to borrow while their income will be used to service these loans.

The future of Nigeria is scary

Na today una know, una don enter d trap since, na common man go suffa am tru continous increament in tax and other stuff

Omooba77:


https://punchng.com/buhari-is-pushing-nigeria-to-new-debt-trap/?

MONDAY OWN BE LET WHO BORROW CHOP THE MONEY

LET HIM PAY IT BACK SIMPLE

YOU CAN NOT BE BORROWING AND CHOPPING AND ME TO SUFFER THE CONSEQUENCE NEVER

Wrong Buhari is the best President Nigeria has ever had, quote me anywhere.

Pastor Tunde Bakare said GEJ destiny was to bankrupt Nigeria. Please somebody should call him to tell us what is Buhari destiny? GEJ petrol N97/liter $1 = N220, yet they said he was destined to bankrupt Nigeria. So i'm wondering what is the destiny of the Buhari Petrol N170/liter $1 = 480. because his like local man cannot can again oh


N97 / liter, $ 1 = N220 === Destiny is to BANKRUPT NIGERIA
N170 / liter, $1 = N480 === Destiny is ??

Someone should help us solve this equation plzzzzzzzzz

Buhari government chronic indebtedness is unparalleled in histroy.

Buhari the packaged avoidable mistake

I wish all APC UK members can be deported back to Nigeria.

So they can enjoy their saviour with us.

Buhari and his northern co-criminals have destroyed the country. They're national disaster and calamity.

We are already in the old debt trap, the new debt trab is going to consume us

Macsjebs:
Na wa, May God heal our Economy

I got more than I bargained for at the wedding of a nairalander - it was indeed love at first smell. I was no where near the best dressed or most good looking, but my scent stole the show

For guys here still thinking, spending or ________ is the only way to get a lady, well, have u tried scenting heavenly. Kindly see reviews on the thread on my signature

God won't come down from Heaven to fix Nigeria Problems. The Older generation tried this same approach, we shouldn't repeat the same mistake

You mean has pushed Nigeria in a debt trap

Rugaria:
I think it's intentional. I mean it's getting obvious! The plan seem to borrow as much money as possible to do all infastructural works in the north and when the next regime steps in, they will spend all their tme and energy trying to repay those loans.... Then another buharist will take over and start borrowing again. Obasanjo paid off the loans acquired by the Babangidas and the Abachas, then this....There is nobody that can claim to love this country that will hobble her down with this level of borrowing, especially when a huge percentage of those loans were used to do infastructural projects that benefits folks in Niger republic more than folks in nigeria.

Speak bro speak.
Truth is that when I look from SW to SE down to SS, I see more fools than sane people.
Their eyes will open someday though but by that time, it will be too late.

Hmmm!
Are we really sure that man is the Bihari elected in 2015.

Watch out

IamPlato:
There is a group of ret@rded idiots that keep mentioning names of nairalanders who they claim are shameless and from the north, on this list is my name...

This is how animals in human form keep spreading false information about people they do not know have never met all because you tried to tell them the bitter truth...

They have no other plan that to spoil the imagine and name of people with a better intelligence than they have...


The last thing one would do is argue with these pigs, some of them just copy our names into a list and shared it without minding to verify the information before passing... This is how you guys brought violence on Nigeria with false information during end SARS protest


Some of these animals include


DasaintHope gimakon, especially this idiot called Kirchoffs


You better stop spamming nairaland or else you might regret your tomorrow... Be warned!

APC zpmbie

I need to make a National ID , I have the Slip but I need a plastic One just to do Online verification. AnyOne ?

It is finish...

Kenplay:
Is this the same government Yorubas abuse igbos for not voting for?
Sophisticated people indeed

For how long shall we continue to pass blame for who vote who
bside we must not all vote the same person dats why its a democrazy wat matters now is dat we are here already
we are fuuuccking buying fuel,rice,dollar,garri,salt etc for God sake so dat means we are stuck here together so we should either finds ways to get it right together or we still hang together either way as tom eyes dey cry jerry nose to go everly cry join am

God no go Shame Us we go survive dis too will pass

IME1:

All these awareness from different places, are the people in authority listening and learning and avoiding future problems?

They are deliberately doing this.

Sai Baba. Have you blamed Jonathan today?

ablejesus26:


For how long shall we continue to pass blame for who vote who
bside we must not all vote the same person dats why its a democrazy wat matters now is dat we are here already
we are fuuuccking buying fuel,rice,dollar,garri,salt etc for God sake so dat means we are stuck here together so we should either finds ways to get it right together or we still hang together either way as tom eyes dey cry jerry nose to go everly cry join am

God no go Shame Us we go survive dis too will pass

Dont preach for me…i know the insults and abuse igbos suffered, just because they never voted for APC

All of you who blamed saraki and dogora, that they were the one who were impeding development during Buhari first time in office over to you.

DennisEche:
SO MANY TIMES I HAVE CALLED MY SELF TO REASON WHY BUHARI SO MUCH HATE NIGERIANS, IS HE PUNSIHING US FOR THE MANY TIMES HE TRIED TO BE PRESIDENT AND WAS REFUSED. PLS BABA BUHARI PLS FORGIVE US, THIS IS TOO MUCH. BEDT, INCREASE IN FUEL, ELECTRICITY HIKE,HIGH UNEMPLOYMENT,INSECURITYK,HUNGER. HABA BABA.

Some tribal bigot will not feel your pain

Economic hitmen have taken the country hostage

Omooba77:
Debt will not kill us, the irony is that most of those signing these debts/loans agreement are over 65 years, that at maturity they will be 6ft below.

THAT IS THE BORROWER LIKE BUHARI WILL HAVE BEEN DEAD LEAVING PROBLEMS FOR OTHER YOUNG NIGERIAN LEADERS.

Can you see wickedness and selfishness in the highest order.

Create the problem and die for others to pick up the pieces.

Its well.

God will save Nigeria from the hands of Bad leaders and bad leadership.

RENEWED alarm raised by some stakeholders over the country’s headlong plunge into debt demonstrates the precarious state of the economy and the need for an effective remedial strategy. While the Governor of Kaduna State, Nasir el-Rufai, private sector operators and federal legislators separately lamented that Nigeria was close to borrowing beyond its capacity to repay, the Federal Government was ramping up fresh borrowing plans. There should be a limit to borrowing: promoting productive and long-term investment offers a better option for reviving the economy.

The debt conundrum is unnerving. El-Rufai and others gathered at the annual conference of the Chartered Institute of Taxation of Nigeria warned that the country had neared its maximum borrowing capacity. At 18 per cent, compared to a tax-to-GDP of 6.1 per cent, debt-to-GDP ratio is nearing a dangerous level, they warned. Meanwhile, revenue-to-debt, the real marker the International Monetary Fund has told policymakers to watch, reached 99 per cent in the first quarter of this year. News also broke of pushback from some members of the usually pliant House of Representatives to the government’s plan to obtain a new $1.2 billion from Brazil.

Ominously, the Minister of Finance, Budget and National Planning, Zainab Ahmed, said the government would borrow a total of N6.17 trillion in 2021, higher than the initially projected N5.2 trillion deficit (at 3.64 per cent of GDP, it is above the prescribed 3.0 per cent threshold), billed to be funded by debt and privatisation proceeds. Realising the revenue target of N7.88 trillion is shakier, following the destruction wrought by recent riots and the continued ravages of the resurgent COVID-19 pandemic.

No country can escape debt entirely. For emerging economies especially, development agencies recommend a judicious mix of well-structured credit, aid, foreign direct investment, tax revenues, PPP and domestic capital formation to drive development and the transition to middle income and high-income status. UNCTAD said that due to the increasing fragilities of the financial and economic environment since the 2008 global meltdown, developing economies’ debt rose from under 40 per cent of global GDP to 93.2 per cent in 2017 with external debt stock rising by 8.5 per cent annually. With the pandemic and depressed commodity prices, the World Economic Forum reports record level borrowing by both rich and poor countries, saying if well applied, debt can help recovery and cushion the impact. Up to $3.5 billion has already been pledged to Nigeria by the World Bank/IMF pair.

Borrowing perpetually for all projects, however, is unrealistic and unsustainable. The wiser course of action is for the government to target higher revenues by improving tax administration and by massive privatisations; rather than borrowing for all rail, airport and ports projects, it should liberalise and grant concessions. Liberalisation magnetised over $70 billion investment in the ICT sector between 2001 and October 2020, adding 15.09 per cent to GDP by Q2 2020, from 4.1 per cent in 2004.

The regime of the President, Major General Muhammadu (retd.), has been particularly reckless, shattering all previous borrowing records. The Debt Management Office figures show that total public debt stock – federal, states; domestic and external – was N12.35 trillion in September 2015, rose to N16.88 trillion a year later, N20.37 trillion in September 2017, N26.21 trillion by September 2019 and N31 trillion this year. Ahmed projects it to reach N38.6 trillion by December 2021. External debt in September 2015, four months after Buhari assumed office, was just $10.61 billion, but has been growing exponentially; to $15.35 billion in 2017, $26.94 billion in 2019 and $31.47 billion by June 30, 2020. Worse is that beyond claiming to pay public employees’ salaries, Nigerians see little to justify the debt amassed on their behalf.

In contrast, under Public-Private Partnership arrangements, Ethiopia and Djibouti jointly built the 756-kilometre Addis Ababa-Djibouti Rail at a cost of $4.5 billion that provided land-locked Ethiopia access to the sea and carries 95 per cent of its trade. According to the World Bank, Morocco was able to develop first rate infrastructure, including the port of Casablanca, one of the world’s largest artificial ports and 70 airports, 11 of which are globally rated, by utilising aid, loans, improving its tax system, attracting FDI and facilitating domestic entrepreneurship.

No country can use borrowing alone to reverse poverty and joblessness; the government should transparently embark on asset sales to free its funds, allow capable private operators to run them and create jobs; improve the operating environment to attract FDI, block revenue leakages and collect all its due revenues from income-generating MDAs.

Urgently, it must reform the tax system, targeting at least 15 per cent tax-to-GDP ratio; the current level of 6.1 per cent falls embarrassingly far short of the African average of 16.5 per cent, Latin and Caribbean average of 23.1 per cent and OECD’s 34.3 per cent. The National Assembly should be more rigorous in its oversight duty and stop rubber-stamping Buhari’s requests for approvals to borrow. All stakeholders should join the few NGOs that have been demanding accountability through FoI requests and lawsuits over the loans. Such demand for accountability and monitoring are strongly recommended by the World Bank and UNCTAD as part of the necessary public buy-in deemed essential in a vibrant democracy. After exiting a 30-year debt trap in 2005/06, Buhari should halt the headlong plunge into another.

https://punchng.com/buhari-is-pushing-nigeria-to-new-debt-trap/?

I DO NOT AGREE TO ASSET SALE.

A MAN LIKE DANGOTE A NORTHERNER WILL COME AND BUY PORT HARCOURT REFINERY PREVENTING THE INDIGENOUS PEOPLE WHO OWN THE CRUDE OIL FROM LEVERAGING ON THEIR GOD GIVEN ASSETS.

Let Nigeria be restructured with each region sourcing for its own funds to manage its own regional government.

If it is Agriculture states or regions can tap into to earn revenue they should quickly go mechanized and develop their agricultural opportunity instead of waiting for federal allocations from Abuja.

Kenplay:

Dont preach for me…i know the insults and abuse igbos suffered, just because they never voted for APC

Trump Had his own voters obama had his
so after the election and winner emerged the voters face themselves and began to fire each other abi?
they put anything else aside nd faced the person there to make sure he doesnt mess up with Power
dat is the civilization we are talking about
its clear dat nothing will make me as an igbo man wey no vote this govt buy rice or fuel at a different price with people wey vote for dis evil govt so why waste time calling out the people dat voted them in