Rossiminku:


There is no loan to loot.

These infrastructure loans work like this:

- Nigeria seeks a loan from China to build a railway line using a Chinese company.

- The Chinese govt pays 80% of the loan amount to the company, while the Nigerian govt pays the company the 20% balance.

- Nigeria then repays the Chinese govt the 80% loan over a 20 to 25 year period, plus negligible interest.

So no money actually changes hands, in terms of this 3.02 billion dollar contract.

It is a clean deal, that has already been funded by Beijing and Abuja.

It is sure to materialize. 100%.

Next time, try to understand before criticising and condemning.

I like how you explain these things, knowing fully they would still be antagonizing this government.they hate for APC is so glaring

soso22:
I like how you explain these things, knowing fully they would still be antagonizing this government.they hate for APC is so glaring

Thanks bro.
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Coming Soon To A City Near You:

Rossiminku:


Dude, get real.

Nigeria's annual budget is under 40 billion USD.

She CANNOT afford to spend 9 billion dollars on a single rail line, even if she was ruled by saints.

If every state functionary and their aunt are kleptomaniacs who shamelessly export their stolen loots overseas, how much money is then left in the system for capital investments?. Or how do you plan to grow an economy?.

One US company, IBM do twice your entire budget in a year. What do you make out of it?.

Morocco did not build that rail system out of pocket. The financiers of that project know they are dealing with a responsible government. Contrast that with Nigerians who unconscionably inflate every project cost over 10 times its actual value as they are currently doing with that Chinese scam.

Rossiminku:


There is no loan to loot.

These infrastructure loans work like this:

- Nigeria seeks a loan from China to build a railway line using a Chinese company.

- The Chinese govt pays 80% of the loan amount to the company, while the Nigerian govt pays the company the 20% balance.

- Nigeria then repays the Chinese govt the 80% loan over a 20 to 25 year period, plus negligible interest.

So no money actually changes hands, in terms of this 3.02 billion dollar contract.

It is a clean deal, that has already been funded by Beijing and Abuja.

It is sure to materialize. 100%.

Next time, try to understand before criticising and condemning.

It is good that there is no loan to loot if that is actually true .

The main concern is whether it is a good deal for Nigeria. There are so many questions to ask and if the deal is more transparent then government can benefit from the knowledge and experience of Nigerians
Often the politicians who are engaged in negotiating these deals have little knowledge of international trade negotiations
In the past the Chinese were very good in their dealings with the West in including skill and knowledge transfer clauses and that is why today they are able to build rail for others.
Most of the steel if not all and many other inputs are from China which is good for China . Did we negotiate the best possible deal ? I doubt it .

I remember a few years ago. The Chinese without prompting announced a discount on the price of steel and Amaechi celebrated this like it was a big deal.

Was it a big deal? Well we simply do not know because there is a lack of transparency and freedom of information
A significant issue through all this is that our own steel industry remains undeveloped
I know that steel has been a subject of trade disputes between China and several countries and we need decision makers that are well informed and well advised

For me skill and knowledge transfer is key and that is how to secure jobs and a viable future for our children.
Our decision makers focus so much on constructing a project and very little on Human Development
Why can they not have a vision that one day Nigerian companies will be building rail infrastructure in Chad or Cameroun
That happens with strategic thinking and planning

A similar logic would apply to NNPC why do we not envision NNPC going to get oil deals in other countries just like Mobil and Shell?

Mariory:


A simple internet search would provide the answer you seek.

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Rossiminku:


Construction of the 2nd Niger Bridge was started in Sept 2018 by the Buhari administration, and the bridge is set for completion in 2022.

Whatever else was done before 2018, go and ask OBJ and Jonathan. It has nothing to do with the present govt.

2022 is a few days away bro....go to the site and confirm is 2024 is possible.