Sultannayef:


Forget the amount always quoted for infrastructure in Nigeria; most of it are looted directly or indirectly.
In New York, it's significantly different.

That used to be the case, but I have seen a change in this administration. And btw the loot in US too

dotbaba86:
Plz help ur brother for m to further my education.tnkz in anticipation
Adeoye Adedotun Joseph
2110351322
Zenith Bank

This is new year. Go and work hard. Education isn't for everybody

dyera:
The problem with Nigeria is that oyel money has killed their mind. Because of oyel money Nigerians have become so numb to creativity and enterprise that whenever they can't get enough money from oyel to finance their budget, the only plan that comes to their mind is to borrow money.

And you wonder why Nigeria as a country is currently as poor as a church rat. A country of 200 million people managing a yearly budget of $25b in the 21st century is nothing but a joke.

The likes of Buhari lack the intellect to take Nigeria forward. Sadly Nigerians too are not educated enough to know what is right for the country. The Ojota protests of 2012 have still been hanging in the balance till this date.

If I was in GEJ's shoe I would have forced subsidy removal by any means necessary but being the gentleman that he is, he caved in to the demands of Nigeria's communist sympathizers.

blackpanda:


That is pittance for a country this large and interested in infrastructure development. Do u know how much newyork spends on housing alone
Many of u just complain that nigeria lacks infrastructure and also complain that nigeria is building infrastructure. There's no pleasing u? Whom do u think will foot the bill of development? Santa claus

My friend stay in New York and stop calling Nigerians empty heads.

Grandmeister:

Who is pdp and who is APC? I detest Nigeria’s type of party politics because it makes no sense neither does it have any distinct ideology whatsoever. A lot of politicians in pdp for years moved to APC many from APC also moved to pdp. So they’re one and the same. The thing is, this buhari led administration has brought the bar so low that other coming government won’t be challenged to do any better.

Well, the amount of borrowing under Buhari has increased because the price of oil went too low under his regime so many times.

Having said that, Buhari could have
1.Cut subsides in power and petroleum. But because this means prices as high as 80 naira per kwh and 300 naira for one liter of fuel..

2. Fight corruption and insecurity...but this means losing allies and power

3.Improve industrial production

But the sad thing is that such decisiobs while good for Nigrria , are politically expensive and unpopular really.

blackpanda:


That is pittance for a country this large and interested in infrastructure development. Do u know how much newyork spends on housing alone
Many of u just complain that nigeria lacks infrastructure and also complain that nigeria is building infrastructure. There's no pleasing u? Whom do u think will foot the bill of development? Santa claus

You want to compare Nigeria with New York? In what terms please? Mention any human development index you Wan to use in comparison, let us analyze pls

blackpanda:


That is pittance for a country this large and interested in infrastructure development. Do u know how much newyork spends on housing alone
Many of u just complain that nigeria lacks infrastructure and also complain that nigeria is building infrastructure. There's no pleasing u? Whom do u think will foot the bill of development? Santa claus

You are ignorant, plain stupid or you just write to please your paymasters in Aso Rock!

1. Nigeria's GDP to tax ratio is low
2. The cost of lending in Nigeria is high
3. In the last 6 years no deliberate effort has been made to reduce imports and reduce the pressure on the US/ Naira exchange.
4. Much money is being spent subsidising the Naira and petroleum products per annum.
5. No efforts have been made to reduce government spending by trimming down duplication in her agencies. Rather new agencies are being created.
6. Nothing is being done to increase economic liberalisation of sectors the private sector can deploy capital much better.
7. No clear strategy on how to enhance growth in key sectors Nigeria has advantage.
8. Infrastructure could also be financed via other mediums apart from debt. Not much is being done to increase the non-debt financing component.


I can go on and on! Even if Buhari wouldn't use an Innoson , Nord or Proforce car what stops them from buying them for his convoy, for legislators etc?

Why is Nigeria still importing tar when she could develop bitumen in Ondo state?

Why do they allow critical roads leading to ports rot? Why aren't such roads given priority?

nony43:
What? This is over $10 billion and yet FG wants to borrow $5 billion to build railway with refurbished trains. How do we pay these debts? Did China borrow to build their country? For how long do we keep servicing these debts?

Debt is a form of bondage...It is a financial termite. You cant be in continuous debt and significantly progress, that's why Nigeria is where we are. Our leaders lack sense, else they would have asked themselves why they are always borrowing, and never lending to any Nations

sorry for quoting you,You aren't talking like economist,nor Management expert, There is nothing bad about borrowing,the problem is poor utilization of debt to achieved stated objective,some debt management increase inflow/outflow of cash and investment in the country..

blackpanda:


That used to be the case, but I have seen a change in this administration. And btw the loot in US too

The loot in USA case is very minimal and insignificant in terms of public investment. In Nigeria, it's way beyond imagination and significantly significant.

Initially,I am growing student in the area of economic/management.. postgraduate level..Am not into any political parties, either Apc/PDP..I just want to say my opinion on the article..The government is trying is best,but many underperformance minister, and some political games are major factor affecting this government..From the write up..I observed,money were spent on political games,and non-effective control from the president..Also the government spending is expanding due to govt activities and disturbance in the country,but no enough revenue to balance the needs and wants for a stable economy..and also the minister was control my powerful bloc rather than economy indices and parameter..Also there were more hardful policy on economy especially on non-oil revenue,this policy is making it hard for many citizen to survive due to generate more revenue by the govt.Borrowing is not the problem, utilization and payback should be major issues..All countries all over the world borrowed money from different sources,but the utilization and plan payback is important, due to political games and incompetent of some minister and agencies in mismanagement and corruption blood is also factor affecting the economy..For government to perform better in this yr budget,Govt need to reduced country disturbances, especially security, because without security non-oil sector will not perform better, reduced hard policy on citizen for many individuals to have values for the money they have,Focus on development rather political game, Proper monitoring,and implementation of budget for better result, Management of excess crude oil account and other sources of income/revenue,More creativities and innovative ways of making more revenue/income to improve buget performance, More investment on agriculture to boost food production, More investment on youth, especially graduate and non graduate category and finally improve in productive sectors..and many more..God help us..

Slackerpenguin2:


PDP too had debts as well...let's not lie.

Debt servicing has been a common feature of our budget for decades. All because we rely on selling raw materials whose prices we don't control...and having imports which exceed the value of our exports, as well as spending millions on subsides in every aspect of our lives.

Text book economics. Is it because of raw materials we are selling that increased nigerias debt burden since buhari became president?

Olaideolayemi:


The government is trying is best,but many underperformance minister, and some political games are major factor affecting this government..From the write up..I observed,money were spent on political games,and non-effective control from the president..

D way u contradict urself here, no get part 2

lexy2014:


Text book economics. Is it because of raw materials we are selling that increased nigerias debt burden since buhari became president?

Its because the price of what we are selling is too low for us to earn sufficient revenue to sustain our large population.

That does not excuse Bubu . He could have cut subsides completely and raised our tax to gdp ratio and given industries forex at favourable rates.

Slackerpenguin2:


Its because the price of what we are selling is too low for us to earn sufficient revenue to sustain our large population.

That does not excuse Bubu . He could have cut subsides completely and raised our tax to gdp ratio and given industries forex at favourable rates.

Bro, it doesn't necessarily have to do with price of our exports. It is important though as it can guarantee better revenue inflow. D problem with nigeria as a whole isn't much a problem of revenue/price of exports than d management of revenue. D reason why this debt issue is a problem is because we can't see how d debt accrued has improved people's standard of living.

D challenge in governance today is waste, misplaced priorities & corruption. Those at d top, steal anything they can lay their hands on leaving little or nothing to work with. thereby putting more pressure on d revenue. Let d price of exports increase, it will only mean more money to steal.

This is d true situation of things. That's why I said u were talking text book economics

bibiking7:




I am not an economist or accountant. However, I saw recurrent (non debt) expenditures taking 5 trn which is 44 percent. Does not sound too good.

Also, debts servicing of this amount leaves little or no funds for capital projects and infrastructure. Then 3 trn for personnel cost. Which personnel?

Then again, the budget deficit will be financed by further borrowing.

Just tell us that we have double digit inflation, which one is "inflation is expected to remain above single digits". Sounds like scoping to me.

Finally, first to comment is not beans. (I just had to add that)

There we go again; only in Nigeria you an account be using euphemism to express numbers. Who no know say whatever that is higher than single is double? She know what she is saying, she knows it will take some people forever to understand her logic. And by then, they are already applying for another loan or on increased deficit.

Sunnycliff:


You that went to Harvard with your first class Knowledge, a nation that spends over #3trn on debt servicing and yet intending to borrow more, what lesson does it teach you? Don't you see the future of your unborn kids being mortgaged?

You even get time to reply the fool,
The North sees criticism as an attack to their Religion or People, they mindset is still in 1780 while other Islamic countries like Dubai are progressing

Lifeless FC is truly taking this nation to the finals of the ^{POOREST COUTRIES OF THE WORLD FOOTBALLL TOURNAMENT}

Sultannayef:


The loot in USA case is very minimal and insignificant in terms of public investment. In Nigeria, it's way beyond imagination and significantly significant.

Story. Looting is looting. Stealing is stealing. Don't point fingers when u are also guilty

Sunnycliff:


You want to compare Nigeria with New York? In what terms please? Mention any human development index you Wan to use in comparison, let us analyze pls

Have u been to newyork before?? Abi u are just reciting the hogwash american media has fed u over the years

Ihatemumu:


You even get time to reply the fool,
The North sees criticism as an attack to their Religion or People, they mindset is still in 1780 while other Islamic countries like Dubai are progressing

Dont mind him. They wouldn't want to measure up with, Saudi, Qatar, UAE etc, which are also Muslim nations but a tree that developed. They prefer dragging the entire nation backwards with endless borrowing

Slackerpenguin2:


Well, the Civil Service is bloated.

But cutting down on personnel overhead means sacking lots of civil servants and clamping down on corruption...not politically popular.
Cutting debt means cutting things like subsides in power, education, health, and oil, and paying higher taxes...again not politically popular.

Do you think people will mind high taxes if the government actually put the money to good use?

Won't u pay high for electricity if you get like 20-24hours a day.

Before you fire civil servants, first cut bogus allowances for all politicians, top civil servants & eliminate corruption in d system. I assure you personal costs might even be reduced by 1trillion or more.

And those glorified workers at A list agencies like DPR, NCC, FIRS, NNPC etc who do almost nothing all day, but earn millions of naira in upfronts annually and allowances should also be slashed

Can we just stop borrowing money

adenigga:
[b][/b]
https://m.punchng.com/Business/FG-spent-N6.46tn-on-debt-servicing-personnel-in-2020-Minister

Elsueno:


Do you think people will mind high taxes if the government actually put the money to good use?

Won't u pay high for electricity if you get like 20-24hours a day.

Before you fire civil servants, first cut bogus allowances for all politicians, top civil servants & eliminate corruption in d system. I assure you personal costs might even be reduced by 1trillion or more.

And those glorified workers at A list agencies like DPR, NCC, FIRS, NNPC etc who do almost nothing all day, but earn millions of naira in upfronts annually and allowances should also be slashed

Well all good suiggestions

But the problem we have too is that we are expecting a ferrari from the cost of a bicycle.

adenigga:
[b][/b]
https://m.punchng.com/Business/FG-spent-N6.46tn-on-debt-servicing-personnel-in-2020-Minister

It shall not be well with Buhari and his cohorts

lexy2014:


Bro, it doesn't necessarily have to do with price of our exports. It is important though as it can guarantee better revenue inflow. D problem with nigeria as a whole isn't much a problem of revenue/price of exports than d management of revenue. D reason why this debt issue is a problem is because we can't see how d debt accrued has improved people's standard of living.

D challenge in governance today is waste, misplaced priorities & corruption. Those at d top, steal anything they can lay their hands on leaving little or nothing to work with. thereby putting more pressure on d revenue. Let d price of exports increase, it will only mean more money to steal.

This is d true situation of things. That's why I said u were talking text book economics

Our revenue for this year is less than the UAE earns...for ten times the populaiton.That's why the UAE can have all the nice buildings, while we get bad buildings.

So even if we bring back your belvoed PDP back or keep the griller's beloved APC in office, and implement your suggestions, we won't get much improvement.

Either we make hard chocies...like ending subsides in petrol and power, meaning increased investment, as well as taxing everyone...in addtion to your suggestions....or we just keep on taking loans.

Nigeria is a poor nation. This fact does not make our leaders past and present better. They know what to do to make us rich...but they are too scared to take the plunge. And it is a pity...especially for this current admin

blackpanda:



Pls name the project that was completed during pdp era I believe u are smarter than this

and what project are dey completing now that warrant them to cripple the country with overload debt

Slackerpenguin2:


Our revenue for this year is less than the UAE earns...for ten times the populaiton.That's why the UAE can have all the nice buildings, while we get bad buildings.

So even if we bring back your belvoed PDP back or keep the griller's beloved APC in office, and implement your suggestions, we won't get much improvement.

Either we make hard chocies...like ending subsides in petrol and power, meaning increased investment, as well as taxing everyone...in addtion to your suggestions....or we just keep on taking loans.

Nigeria is a poor nation. This fact does not make our leaders past and present better. They know what to do to make us rich...but they are too scared to take the plunge. And it is a pity...especially for this current admin

I don't remember discussing with u that I have a "beloved PDP". When u say d reason d UAE has beautiful buildings & nigeria has bad buildings because of their revenue compared to their population, have u asked urself how much corruption they practice in UAE compared to Nigeria? How committed is d UAE when they want to build compared to Nigeria? In terms of attracting& employing competence, is Nigeria on d same level with d UAE? Do we practice meritocracy or mediocrity as compared with d UAE? How well do we maintain d little we have built compared to d UAE? What's d level of nepotism in Nigeria compared to d UAE? What is d level of singleness of purpose in Nigeria compared to d UAE? Pls what happened to d covid19 palliatives we all saw that were hoarded by govt officials? Was it because d palliatives weren't enough to go round everyone or simply because of d greed of our leaders? What is indomie that our leaders can't share? Do d leaders in UAE have d same attitude? Will they hoard indomie? If our leaders can hoard indomie that wasnt bought with govt money, what do u think they are doing with allocations?

Our leaders aren't scared to make nigeria rich. They are just too busy stealing that they no if d country can be made rich. So pls don't compare nigeria with UAE. Money isn't d issue. If it was, nigerians won't be poor in d midst of plenty. D problem is greed

lexy2014:


D way u contradict urself here, no get part 2

How do I contradict myself?Is it because I said govt is trying their best and some minister and president are not in full control of govt activities?
Bros,Govt is not only minister, nor president..Govt are those running the activities of govt.. Minister,director in parastals, agencies, department and others are also govt, if I said govt is trying their Best simply means ,some minister, department, ministry,and agencies are putting their best for better performance while others do not..If the govt are not trying at all.. Nigeria will not even exist..Try to think deep, when qouting...thks...

Olaideolayemi:
How do I contradict myself?Is it because I said govt is trying their best and some minister and president are not in full control of govt activities?
Bros,Govt is not only minister, nor president..Govt are those running the activities of govt.. Minister,director in parastals, agencies, department and others are also govt, if I said govt is trying their Best simply means ,some minister, department, ministry,and agencies are putting their best for better performance while others do not..If the govt are not trying at all.. Nigeria will not even exist..Try to think deep, when qouting...thks...

So let's do some deep thinking. Kindly tell me how govt is "trying"? What is d percentage of "trying" on one hand and the percentage of "not trying" on d other hand?

If u say "some ministers and president are not in full control of govt activities", where then is d "trying"?

So how do u measure "trying their best"?

Deep thinker, over to u

emmyrate1:
and what project are dey completing now that warrant them to cripple the country with overload debt

Lagos ibadan train has been completed
Warri itakpe train is completed and functioning well

And so much more are be constructed

God of Elijah!!!!!

blackpanda:



Story. Looting is looting. Stealing is stealing. Don't point fingers when u are also guilty

You need to sharpen your reasoning skills. It’s very shallow. Why is Botswana so much better than Nigeria? The difference is relative looting.