Montenegro needed a highway and China offered to build it. But now the country owes a Chinese bank the equivalent of a quarter of its economy — and isn't sure it can afford it.

What's worse: once completed, the road won't lead anywhere.


All European banks rejected Montenegro request for loan, but China offered to help.

Why did China offered to help??

The future of Nigeria is at risk.

Why isn't our media creating awareness

https://www.npr.org/2021/06/28/1010832606/road-deal-with-china-is-blamed-for-catapulting-montenegro-into-historic-debt?

You supposed to be writing this to other meaningful Africa countries not nigeria who are waiting for when China go tell them we no dey borrow again

Abokeys are the ones eating the Chinese loans through the vegetable nepotism

China can turn their desert into a nuclear test site if they can't pay

Macelliot:
Montenegro needed a highway and China offered to build it. But now the country owes a Chinese bank the equivalent of a quarter of its economy — and isn't sure it can afford it.

What's worse: once completed, the road won't lead anywhere.


All European banks rejected Montenegro request for loan, but China offered to help.

Why did China offered to help??

The future of Nigeria is at risk.

Why isn't our media creating awareness

https://www.npr.org/2021/06/28/1010832606/road-deal-with-china-is-blamed-for-catapulting-montenegro-into-historic-debt?

Nigeria is at no serious risk from the Chinese loans; it's beginning to get boring how the media keeps talking about only Chinese loans when indeed the Chinese debt is just a very tiny portion of Nigeria's overal debt. The amount owed to China can easily be repaid in no time, except we get leaders who foolishly and stubbornly refuse to pay.

obailala:
Nigeria is at no serious risk from the Chinese loans; it's beginning to get boring how the media keeps talking about only Chinese loans when indeed the Chinese debt is just a very tiny portion of Nigeria's overal debt. The amount owed to China can easily be repaid in no time, except we get leaders who foolishly and stubbornly refuse to pay.

so who will pay the debt incurred by dumb government let's be realistic here the next government will want to borrow too solve its problem too making it more hard to pay is there any available way of getting back the money to pay up set by this present government

All these old buffoons borrowing away will be long dead when Nigeria begins to reap the dividends of borrowing with reckless abandon.
The Chinese are pretty good at modern colonisation, a lot of countries are already in their trap. Their dream for world dominance may just become a reality one day, slowly but surely.

heniford2:
so who will pay the debt incurred by dumb government let's be realistic here the next government will want to borrow too solve its problem too making it more hard to pay is there any available way of getting back the money to pay up set by this present government

Dont mind that clueless BMC up there.

heniford2:
so who will pay the debt incurred by dumb government let's be realistic here the next government will want to borrow too solve its problem too making it more hard to pay is there any available way of getting back the money to pay up set by this present government

This current government is paying the debt of the previous govt with almost half of its revenue annually; the current govt is also incurring its own debt for which the next governments will pay the bulk of. But that is not the point I was even trying to make here... The point I tried to make was about the loud noise about Chinese loan! Chinese loan! Chinese loan!

Why is there so much noise about the Chinese loan? The so called Chinese debt isn't even up to $5bn in comparison with all the other debts Nigeria has (which runs into over $80bn); even Lagos state govt alone can pay off the Chinese debt. If for anything, the Chinese loans are the best thing to happen to Nigeria because it's the only loans for which Nigerians can actually see what the money was used for (obviously because China didnt give cash to politicians to steal). My question is, why is there so much attention on the Chinese loans?

tesseract:

Dont mind that clueless BMC up there.

So because I said the Chinese loans aren't a big deal/risk in comparison with other debts, your brain automatically interprets that to mean "I am defending govt and loans"? Oga, not everything is politics; if you can't discern that, then it isn't hard to see who's clueless here.

obailala:
This current government is paying the debt of the previous govt with almost half of its revenue annually; the current govt is also incurring its own debt for which the next governments will pay the bulk of. But that is not the point I was even trying to make here... The point I tried to make was about the loud noise about Chinese loan! Chinese loan! Chinese loan!

Why is there so much noise about the Chinese loan? The so called Chinese debt isn't even up to $5bn in comparison with all the other debts Nigeria has (which runs into over $80bn); even Lagos state govt alone can pay off the Chinese debt. If for anything, the Chinese loans are the best thing to happen to Nigeria because it's the only loans for which Nigerians can actually see what the money was used for (obviously because China didnt give cash to politicians to steal). My question is, why is there so much attention on the Chinese loans?


So because I said the Chinese loans aren't a big deal/risk in comparison with other debts, your brain automatically interprets that to mean "I am defending govt and loans"? Oga I'm simply a Nigerian trying to educate you; not everything is politics.

the formal government borrowed know this one is doubling it and are borrowing too from the Chinese the Chinese are not giving us sub standard like the once the use and owing to them means the other way round, is very bad very bad.

I will take a chinese loan many more times over, at least they dont ask you to implement draconian policies as conditions to grant you loan.

Deregulation
Devaluation of currency
Removal of subsidy from education and agriculture
and the list goes on

All these policy prescriptions mandated on African economies by the bretton woods institutions (IMF and WB) to keep them dependent while their debt ridden economies latched onto ours like leeches to suck us dry.

In 2005 Nigeria paid over 10billion dollars to the paris club for an 18billion dollar debt relief over an initial loan that was nowhere near the value of the former or the latter.

Abeg enough of this western propaganda on china.

At least for now China has even refused to offer us any more loans - no thanks to our media and legislators that have scared them away. Perhaps to focus on a more strategic country like Afghanistan (I hear they preparing billions of dollars package for the country in anticipation of American exit)

Macelliot:
Montenegro needed a highway and China offered to build it. But now the country owes a Chinese bank the equivalent of a quarter of its economy — and isn't sure it can afford it.

What's worse: once completed, the road won't lead anywhere.


All European banks rejected Montenegro request for loan, but China offered to help.

Why did China offered to help??

The future of Nigeria is at risk.

Why isn't our media creating awareness

https://www.npr.org/2021/06/28/1010832606/road-deal-with-china-is-blamed-for-catapulting-montenegro-into-historic-debt?

Lol, you think Nigeria can help itself now? The answer is a resounding NO!

The country has been run aground and there is no way out except we balkanize to manageable units. Even with oil prices now high, we still have to borrow massively to pay SALARIES Also remember that while our population continues to spiral out of control, demand for oil will continue going down until it wouldn't even be enough for us to use in doing anything.

You should even be grateful to China now because very soon no one will be willing to lend you money again That's even when your worst fears will come to pass because China is a very shrewd, selfish and inhuman country, and they would lend you the loans with terrible conditions. Now, knowing that you don't have the capacity to pay back, they will eventually take over our prime assets like MMIA Ikeja, Apapa ports, oil Wells and similar strategic assets

You can check a thread I created and mentioned some of the reasons why we are headed for a terrible storm.

https://www.nairaland.com/6635145/message-igbos-northern-nigeria#103385100

heniford2:
the formal government borrowed know this one is doubling it and are borrowing too from the Chinese the Chinese are not giving us sub standard like the once the use and owing to them means the other way round, is very bad very bad.

I'm not sure I understand your point; are you suggesting Chinese construction is substandard? The previous government borrowed from China, and the current government is also borrowing from China. You might even be surprised to know that the last govt actually borrowed more from China than the current admin has borrowed from China.

Like I mentioned before, these Chinese loans still remain the best ever loans to ever happen to Nigeria; the loans come with no draconian conditions (like IMF forcing Nigeria to devalue Naira or increase fuel price etc) and the loan amount is not given to Nigerian govt officials in cash (which means that no kleptomaniac Nigerian official gets to touch or steal the money).

Nigeria currently owes a total of over $80bn, and the Chinese loans makes up less than $5bn of that amount. Have you ever wondered why its only projects from the less than $5bn Chinese loans that are visible (i.e. railways, airport renovation)? What exactly was the other ~$75bn used for (your guess is as good as mine)? You see the reason i say the Chinese loans are the best thing to happen to Nigeria?

obailala:
I'm not sure I understand your point; are you suggesting Chinese construction is substandard? The previous government borrowed from China, and the current government is also borrowing from China. You might even be surprised to know that the last govt actually borrowed more from China than the current admin has borrowed from China.

Like I mentioned before, these Chinese loans still remain the best ever loans to ever happen to Nigeria; the loans come with no draconian conditions (like IMF forcing Nigeria to devalue Naira or increase fuel price etc) and the loan amount is not given to Nigerian govt officials in cash (which means that no kleptomaniac Nigerian official gets to touch or steal the money).

Nigeria currently owes a total of over $80bn, and the Chinese loans makes up less than $5bn of that amount. Have you ever wondered why its only projects from the less than $5bn Chinese loans that are visible (i.e. railways, airport renovation)? What exactly was the other ~$75bn used for (your guess is as good as mine)? You see the reason i say the Chinese loans are the best thing to happen to Nigeria?

look at the total amount borrowed from China which the said was fixed in railroad and the type of Rail the we bought is that kind of rail standard look at the our International Airport renovation the amount fixed in doing so can even be used to build new one, have (4) four refinery in the country only one is working in a slow motion we have 4 sea port only one is in function, that railway that is not substandard that was commission maintenance towards it is not guarantee is like buy a car which we will end up being dump.

The government borrow should be of greater important stuff we borrow to pay salaries and etc the next government that will take over will still borrow again to find infrastructure and health which the government has forgotten to me the Chinese loan are of no benefit because we borrow to build nonsense can't we have super railways have you travel out before you will curse that stuff China built for us

Macelliot:
Montenegro needed a highway and China offered to build it. But now the country owes a Chinese bank the equivalent of a quarter of its economy — and isn't sure it can afford it.

What's worse: once completed, the road won't lead anywhere.


All European banks rejected Montenegro request for loan, but China offered to help.

Why did China offered to help??

The future of Nigeria is at risk.

Why isn't our media creating awareness

https://www.npr.org/2021/06/28/1010832606/road-deal-with-china-is-blamed-for-catapulting-montenegro-into-historic-debt?

Take your western anti-Chinese propaganda out of this place. How about other third world countries that have benefited positively from Chinese loans. Why are you and your white masters always quick to point out negative incidences from the loans but ignore the numerous positives of Chinese relationship?

If you borrow recklessly, it is your fault and not that of China. It's like blaming banks for seizing your assets after failing to pay your loans.

tesseract:

Dont mind that clueless BMC up there.

You guys should use your brains if you have them. Is it better to borrow funds from IMF where nothing tangible would be seen (except for some silly human rights) or to borrow from China which ensures that projects are carried out with the funds. If you borrow irresponsibly, you deserve the repercussions. Stop demonizing China

obailala:
I'm not sure I understand your point; are you suggesting Chinese construction is substandard? The previous government borrowed from China, and the current government is also borrowing from China. You might even be surprised to know that the last govt actually borrowed more from China than the current admin has borrowed from China.

Like I mentioned before, these Chinese loans still remain the best ever loans to ever happen to Nigeria; the loans come with no draconian conditions (like IMF forcing Nigeria to devalue Naira or increase fuel price etc) and the loan amount is not given to Nigerian govt officials in cash (which means that no kleptomaniac Nigerian official gets to touch or steal the money).

Nigeria currently owes a total of over $80bn, and the Chinese loans makes up less than $5bn of that amount. Have you ever wondered why its only projects from the less than $5bn Chinese loans that are visible (i.e. railways, airport renovation)? What exactly was the other ~$75bn used for (your guess is as good as mine)? You see the reason i say the Chinese loans are the best thing to happen to Nigeria?

They are not talking out of concern for the country. They are doing it because the west (whom they worship) are passionately against anything Chinese. With all of the industries that IMF and World bank killed, with all of the unfavorable policies that they forced poor countries to adopt, it's inevitable that everyone will turn to Chia

heniford2:
look at the total amount borrowed from China which the said was fixed in railroad and the type of Rail the we bought is that kind of rail standard look at the our International Airport renovation the amount fixed in doing so can even be used to build new one, have (4) four refinery in the country only one is working in a slow motion we have 4 sea port only one is in function, that railway that is not substandard that was commission maintenance towards it is not guarantee is like buy a car which we will end up being dump.

The government borrow should be of greater important stuff we borrow to pay salaries and etc the next government that will take over will still borrow again to find infrastructure and health which the government has forgotten to me the Chinese loan are of no benefit because we borrow to build nonsense can't we have super railways have you travel out before you will curse that stuff China built for us

I'm not sure I understand the direction you're heading to with your comment. At first you said the Chinese built substandard railway, and then you started talking about seaports and 4 non-functional refineries; please can you explain the connection between these things you're saying and Chinese loans? Meanwhile the total funds borrowed from China so far is less than $5bn, are you basically saying this loan is the source of Nigeria's troubles?

Regarding the standard of the rails, the new railways built by CCECC between Abuja and Kaduna, and between Lagos and Ibadan are 'STANDARD GAUGE RAILS' obtainable in any part of the world. They are as modern as any rail can be, and they were built to international modern rail standards. Where did you get this impression that they are substandard? Are you knowledgeable in railway engineering to know this?

the countries invested most by chinese investors are USA and UK.

funny, right ?

never see UK and USA complain china investment. they wish more.

the countries invested most by chinese investors are USA and UK.

funny, right ?

never see UK and USA complain china investment. they wish more.

the investment in africa consist only 5% of china's oversea investment. less than in a taiwan island

Mikecold:
Abokis are the ones eating the Chinese loans through the vegetable nepotism. China can turn their desert into a nuclear test site if they can't pay

Guy you gat no chill mehn.

FoolishBoy419:


You guys should use your brains if you have them. Is it better to borrow funds from IMF where nothing tangible would be seen (except for some silly human rights) or to borrow from China which ensures that projects are carried out with the funds . If you borrow irresponsibly, you deserve the repercussions. Stop demonizing China

Just one successful project carried out with the funds borrowed from China and you make it look like it's what's been happening ever since. Abokey sit down there!

Mangekyo:


Just one successful project carried out with the funds borrowed from China and you make it look like it's what's been happening ever since. Abokey sit down there!

Shut up Inyamuri. The world doesn't start and end in Nigeria. Check the progress poor countries are enjoying in Asia, Africa, and America and get back to me.

FoolishBoy419:



Shut up Inyamuri. The world doesn't start and end in Nigeria. Check the progress poor countries are enjoying in Asia, Africa, and America and get back to me.

Hehehe I'm not denying any of these. I quoted you because you said we've been building projects with the funds we've been loaning from China. Taking loan is good but we should make sure we're able to pay back because if we somehow fail, hehe China are inhuman oo

Mangekyo:


Hehehe I'm not denying any of these. I quoted you because you said we've been building projects with the funds we've been loaning from China. Taking loan is good but we should make sure we're able to pay back because if we somehow fail, hehe China are inhuman oo

How much are we owing China compared to other debts we have?

There's nothing inhuman about China except for the propaganda against them. "Evil" China builds bridges, dams, roads, trains, etc while "good" west bombs Palestine, Iraq, Afghanistan, Syria, etc and trains militant groups. Don't insult our intelligence please

FoolishBoy419:


How much are we owing China compared to other debts we have?

There's nothing inhuman about China except for the propaganda against them. "Evil" China builds bridges, dams, roads, trains, etc while "good" west bombs Palestine, Iraq, Afghanistan, Syria, etc and trains militant groups. Don't insult our intelligence please

I never compared the dept we're owing china to our overall dept, learn to read. China builds bridges, dams, roads, trains etc... Where exactly? Hahaha so you're pained the west are keeping these terrorist nations (Palestine, Iraq, Afghanistan, syria etc) in check right? Lmfao you must be an abokey Muslim . Hahaha hahaha I'm laughing hard right now

Mangekyo:


I never compared the dept we're owing china to our overall dept, learn to read. China builds bridges, dams, roads, trains etc... Where exactly? Hahaha so you're pained the west are keeping these terrorist nations (Palestine, Iraq, Afghanistan, syria etc) in check right? Lmfao you must be an abokey Muslim . Hahaha hahaha I'm laughing hard right now

It's not my job to educate idiots please. Pakistan, Rwanda, Nigeria, and Kenya all have key infrastructures in their lands while your white masters are known for sanctions and bomb blasts.

Secondly, I am not one of you brainless idiots that believes in one sky daddy called God. If you believe in anything like Jesus, god, Islam, etc, you don't deserve a brain. Religion turns you into a heartless robot, and that's why all of the innocent women, children, and men that have been killed and displaced are nothing but TERRORISTS TO YOU. That's why even while your white masters are regretting Iraq and Libya invasions, cursed black Africans are still praising it out of sheer stupidity and idiocy that was borne out of the madness called religion.

China's works are speaking for it, same way US atrocities are speaking for it. There's a reason why they panic at the mention of China

FoolishBoy419:


You guys should use your brains if you have them. Is it better to borrow funds from IMF where nothing tangible would be seen (except for some silly human rights) or to borrow from China which ensures that projects are carried out with the funds. If you borrow irresponsibly, you deserve the repercussions. Stop demonizing China

If by now you do not know the effects of excessive borrowing on the economy of a nation, then you must be a fool, according to your moniker of course. Despite what's going on in the country, you still defend ineptitude, oga you're a fool.

tesseract:

If by now you do not know the effects of excessive borrowing on the economy of a nation, then you must be a fool, according to your moniker of course. Despite what's going on in the country, you still defend ineptitude, oga you're a fool.

And you are plainly an idiot. If you had taken any of your time to use your brain rather than being stupid, you'd have realized that my problem is the singling out of China (whose loans have been more fruitful) while ignoring the other debts we have because they came from your preferred sources.