Weirdcamila:
Nice . Why not make it a tourist attraction to earn more revenue. Nigeria needs creative thinkers and all the world will troop in to explore Nigeria .
That time we can start banning some countries

tctrills:

I just remembered one more thing.
Greece, Spain, and Italy what do they have in common? They are super beautiful places. They are among the top 12 visited countries yet they mess up their economies due to excessive debt.
Investors are not rushing to these countries. So the idea that you need to go broke from borrowing just to make your country beautiful for investors is naive and childish.
Investors care about only 2 things, security and profit and Nigeria has neither of these. We are rated 131 in the ease of doing business and one of the least safe nations on earth.

Perfectbeing:
Lagos is among the top investment place in Africa. Tinubu would make the whole Nigeria like that.

Like it or not, there's a correlation between foreign investments and good infrastructures.

Weirdcamila:
Nice . Why not make it a tourist attraction to earn more revenue. Nigeria needs creative thinkers and all the world will troop in to explore Nigeria .
That time we can start banning some countries

Vixlot:
Kashimbilla Hydroelectric Dam in Taraba state is set for Commissioning as the airstrip is completed.

https://twitter.com/StFreakingKezy/status/1584870468045053953

emorse:

I'm glad that you agree that price control is not really as bad thing.

Now, as regards cost of generating power, take a look at the screenshot and link below.

https://www.e-education.psu.edu/eme801/node/530

Operating costs (fuel, labour and maintenance) is at most $0.1/kWh. That's about N42/kWh. They sell to us at N56/kWh. That's some profit don't you think? What were they really subsidising if not the regular corruption which is present in almost every sector? How come they "silently" removed subsidy earlier this year and we didn't even flinch?

Anyway, let's take the figures from the PWC report (they obviously know more than I do) that says they have to sell at around N80/kWh to make some decent profit. Are we not paying multiples of that figure as a result of estimated billing already? You and I have both heared testimonies of people who acquired prepaid meters and instantly cut their power bills by as much as two thirds without even trying. Where has the excess revenue been going to? Could that be the reason why they are trying really hard to frustrate every effort at metering all their customers?

You see bro, we can keep going back and forth on this issue but I can assure you that we will not get anywhere until the sector is sanitised by proper metering.

blueAgent:


Joker

tctrills:

You seem to be a bit confused. We were discussing debt not Tinubu.
No one said infrastructure is unimportant but I was educating you on the dangers of excessive debt.
Your government has destroyed our economy and impoverished the nation with debt. We are now more uncompetitive.
I never said you shouldn't vote Tinubu. I believe you are an adult and you know what you want
I am only trying to educate you on the way the economy works.

Perfectbeing:
You obviously have no idea on how the Nigerian economy works..

Nigeria is having more foreign and local investment now more than ever.

Nigeria would have developed at a snail speed (if at all) with only oil revenue..

Oil revenue plummeted almost when Buhari took over Government. Coupled with fuel subsidy, Nigeria revenue would never have been enough to develop the country. So Buhari had to take loans.

Any other investment Buhari wanted to do without investing on roads, bridges, rail roads etc would have been a waste of time. .

For example, before completing the Ajaokuta steel industry (let's even forget about the court cases that was on ground), a railway needed to be built to carry iron ore from the source to the steel company.. Without a constant supply of raw materials to the steel company, building it would have been a waste of time. Once the furnace is turned on, it can't be turned off for at least 20 years.. So completing the company without linking it to it's raw materials would be stupid.
Those links I'm talking about is the railways which needed loans to be built..

Buhari wanted to link all seaports by rail.
He wanted to link the LAKIJA corridor (you should read about it) to Lagos seaport that was why he built the Lagos to Kanu to Maradi railway (which generated a lot of controversies). That rail way needed loans to be built.

Trying to diversify to other source of revenues was a long term plan which was too expensive for Nigeria, hence Nigeria needed to take loans.

Nigeria needed to buy fighter jets and other weapons to fight insecurity.. We needed loans to get those things.

So who cares, if we spend N92 out of every N100 we make to service debts? In time, those projects built by the loans would start paying for themselves..
Thank God the Chinese loans have a long repayment term of 15 to 20 years. So we have enough time to pay back the loans.


Like I always tell people, in the next 15-20 years, Buhari will be regarded as one of the best President of Nigeria. Because it is around then that Nigeria will see the good effect of what he's doing now.

Perfectbeing:
You obviously have no idea on how the Nigerian economy works..

Nigeria is having more foreign and local investment now more than ever.

Nigeria would have developed at a snail speed (if at all) with only oil revenue..

Oil revenue plummeted almost when Buhari took over Government. Coupled with fuel subsidy, Nigeria revenue would never have been enough to develop the country. So Buhari had to take loans.

Any other investment Buhari wanted to do without investing on roads, bridges, rail roads etc would have been a waste of time. .

For example, before completing the Ajaokuta steel industry (let's even forget about the court cases that was on ground), a railway needed to be built to carry iron ore from the source to the steel company.. Without a constant supply of raw materials to the steel company, building it would have been a waste of time. Once the furnace is turned on, it can't be turned off for at least 20 years.. So completing the company without linking it to it's raw materials would be stupid.
Those links I'm talking about is the railways which needed loans to be built..

Buhari wanted to link all seaports by rail.
He wanted to link the LAKIJA corridor (you should read about it) to Lagos seaport that was why he built the Lagos to Kanu to Maradi railway (which generated a lot of controversies). That rail way needed loans to be built.

Trying to diversify to other source of revenues was a long term plan which was too expensive for Nigeria, hence Nigeria needed to take loans.

Nigeria needed to buy fighter jets and other weapons to fight insecurity.. We needed loans to get those things.

So who cares, if we spend N92 out of every N100 we make to service debts? In time, those projects built by the loans would start paying for themselves..
Thank God the Chinese loans have a long repayment term of 15 to 20 years. So we have enough time to pay back the loans.


Like I always tell people, in the next 15-20 years, Buhari will be regarded as one of the best President of Nigeria. Because it is around then that Nigeria will see the good effect of what he's doing now.

tctrills:


Your first statement shows you really have very low understand of our economy.
You did not even quote a single data to show that Nigerian investment is growing.
Could you please list the investments under Buhari so we can compare with other governments.
Then again you retold the APC lie that oil revenue reduced under Buhari.
You APC guys forgot that oil was rarely up to $40 under Obasanjo.
The average price of oil under Buhari was above $60. The lowest price was $30 during the first 3 months of covid.
The average price of oil under Yaradua and Jonathan was $80.
So if you do your maths, oil was more expensive under APC.
The idea that projects would in time pay for themselves is actually a lie. Below are a list of countries where projects did not pay for themselves.
1. China's extensive rail project.
2. Sri Lanka's infrastructural projects
3. Brazil's massive projects of the 80s and 90s
4. Argentina
5 Pakistan
6. Greece
7. Spain
8. Italy
9. Portugal
Do you want me to go on?

Perfectbeing:
Yes I want you to go on.. You only stated projects that didn't pay for themselves but in your pessimism failed to listen projects that pay for themselves..

And also, what's the worse that would happen if the loan default? The Chinese will take over right? But it wouldn't still matter, because it's still Nigerians that would be using the trains, airports, refineries etc..
It is still Nigerians that would be employed.. So if e reach that stage make e reach...

tctrills:


No, it would be your job to list projects that paid for themselves. I am listening.
Even in china, the multi billion dollars rail project build from 2008 is running at a loss. If the Chinese can run rail profitably, you think they would build profitable rails for you?
You seem to be very short sighted. What is the worst that could happen if you default?
You lose international credibility. That means no one would loan you money when you need it.
Your currency continues to be devalued.
China would have all kinds of economic leverage over you.
The billion dollars project would begin to face decay as the Chinese would not run them at a loss.
Investments in your country become more risky as your central bank and monetary policy would become extremely weak.
The investors you were hoping to invite would not be comfortable investing in your country.
You would also have lost of abandoned projects as the funding would dry up. This is already the case in Nigeria. The Chinese have stopped funding our rails since January this year.

Perfectbeing:
Be pessimism all you want..
Nigeria loans will pay for itself

tctrills:

We can't continue to do foolish things and hope all will be well. We should learn from history.
The Greeks thought the same when they were borrowing
Pakistan said the same thing.
The worst part of this foolishness is that we have so many unfinished projects and the funds have run dry.

Perfectbeing:
What about Egypt, America etc that borrowed and are better than they were? Nigeria will be better..

tctrills:


Yes what about Egypt. First Egypt does not spend 92% of income on debt servicing neither does America.
The Nigerian government had a revenue of 9 billion dollars last year while the Government of Egypt had a revenue of 67 billion dollars. Clearly Egypt is in a better position to service it's debts.

Even at that Egypt is in danger of not being able to service it debt. The IMF has warned Egypt about taking further debt.

America spends 9% of government revenue on debt servicing. You must agree with me that this is much more healthy.

Secondly even in America we don't have any example of public debt paying for itself.

Perfectbeing:
Nigeria will use loans to position itself to get more revenues to pay up it's debt.. It will happen and you'll see.

tctrills:

That's what Argentina said. We are not seeing any evidence than Nigeria would be different.
In 2008 when China began the massive construction of tail, the told the world that the project would pay for itself. Today, the project is running at a loss.
Nigeria is more corrupt than these countries so why do you think Nigeria would do a better job.

Perfectbeing:
Argentina is not the only country that took loans.. There are other countries that took loans and are better for it..

I believe in division of labour.. While you see only the bad aspect of taking loans, allow me to see the good part biko.. Bye bye yo.

tctrills:

Please mention just one county that took loans to build infrastructure and the infrastructure paid for itself.
You would not find any examples of such countries in the last 50 years

Babysho:


Not true but it doesn't matter. We know we can have it all. We can have infrastructure, a stable economy and a govt rid of corruption and that's what we'll get in Obi.

Perfectbeing:
Like what Anambra people enjoyed under him abi?

tctrills:

Please mention just one county that took loans to build infrastructure and the infrastructure paid for itself.
You would not find any examples of such countries in the last 50 years

Babysho:


You can see CONSCIOUS EFFORTS by Peter Obi in Anambra geared towards bettering the lives of the people of Anambra through HDI.

I do think there are several aspects he could have done better as governor but overall, he's still the best candidate by a large margin.

Who do you think is the best candidate and why?

Perfectbeing:
If we judge the top 3 candidates by their track records when they were in Government, even you cannot claim you don't know who would win.

Babysho:


This made me look up information on Addis Ababa light rail and apparently, they're in huge debt. I'm really shocked! They owe almost $500m to China export-import bank and they've only managed to make a profit of $12m at a running cost of $120m.

I can't even begin to imagine how much Lagos owes for the light rail because I'm pretty sure they've exceeded what they planned out in their feasibility study with inflation and all of that.

I think I understand. This shows that you cannot buy everything, sometimes you have to figure it out yourself.
It's just like a man who wants a wheel barrow to fetch clay to build a house. He goes to his neighbour's home who owns unlimited wheel barrows to buy one but the neighbour says the wheel barrow will cost him his house. He agrees to it and acquires the wheel barrow and completes his house and celebrates. But the neighbour steps in to take his house. Now his neighbour has unlimited wheel barrows and two houses while the man has just a wheel barrow and no house. He can't sleep inside a wheel barrow nau lol na mumu be that.
What he could have done is learn HOW TO BUILD his own wheel barrow.

Idiko1:


Who in his/her sane mind would want to visit a structure maned by Nigerians? I shall never visit Taraba State as long as Nigerians supervise the dam.

Corrinthians:
How come alo these were ongoing but the media guys in the presidency never told us about them?

From Zungeru to Niger Bridge to this. And I'm sure alot more we don't know about yet. Buhari has really done well.