lugado:

You are a big liar , our debt servicing to revenue is not even up to 30%.
Did you read the budget at all?
All what Peter Obi is saying is not practicable.
We are running a presidential form of government in a country of over 200 million. Not a personal estate

casualobserver:
When you hear someone talking about avoiding debt or thinks being debt free is automatically a good thing or has an aversion to debt especially in a developing economy, it shows the person has no real understanding of wealth creation.

casualobserver:
Debt is an instrument of wealth creation. Debt for investment is good debt for consumption is bad. So when you talk about debt, you have to distinguish what kind of debt you are talking about.

casualobserver:
Debt to pay fuel subsidy is suicidal and it is the root of our problems under Buhari. The debt incurred on subsidy every year is enough to build 1 refinery a year!

casualobserver:
If he had incited debt to fix our refineries, we wouldn’t import fuel, forex demand will be less inflation would be lower and there would be less need for subsidy because we aren’t importing fuel. Debt to build rail roads and schools is good debt because it will pay itself with a more efficient economy a better educated population who will earn more and pay more taxes.

casualobserver:
When I see someone with an aversion for debt for debt sake or who talks about saving and cutting wastage to fuel Nigerians growth, I know the person is not serious. The is only 1 way to solve Nigerians problems going forward. Raise revenues, stop subsidies and secure sources additional debt for development projects hopefully financed with increased taxes/ revenues. Anyone who thinks they can take Nigeria forward by cutting wastage is a clown. At most you save $1b a year. Nigeria needs to find $500-$1trillion over the next 10 years to arrest the rot. Your savings is not going to make a dent. Only carefully targeted debt investment and massive revenue increase can solve the problem.

casualobserver:
Any clown telling you he won’t travel with entourage is just playing to the gallery, I am not saying he should not cut down on entourages but how much do entourage cost? I will sell this guest house, I will sell that guest house is just insulting the intelligence of those who have any. It is not the money you save from cutting down your entourage or cutting down the presidential fleet that will make any difference to the development of the country.

casualobserver:
Elon musk is the richest man in the world he borrowed money to buy Twitter. Dangote is the richest black man in Africa, he borrowed money to build his refinery. They are both likely going to get richer as a result. There is debt and there is debt. When you hear someone talking about saving when you are undeveloped or having an aversion for debt for debt sake..trust me the person has no clue.

casualobserver:
You need to find a way to raise revenues by or inject an average of $50b a year in the public and social infrastructure of the economy and someone is talking about savings….that’s a sign of small mindedness…..someone guaranteed to keep the country in poverty..

oyebanji44:


Did you know if the money wasn't enough

Johnthejohn:
What does Tinubu know about budget

mrvitalis:
This people that wrote this rubbishes for agbdo no nothing about economy

A country who's debt servicing to revenue is already over 100% you want to borrow more ?

What's Japanese debt servicing to revenue ratio .....I can bet you they would never mention that
The funny thing is the more we show lack of fiscal discipline the more our lenders give us high interest rate which then compound our already terrible revenue to debt service ratio

Solutions show fiscal discipline , remove subsidy , cut cost of governance , your president of a country which GDP is less than that of Huston is having a motorcade of 50 cars , 15 private jets ? For a small economy as ours ?

My advice is one remove subsidy introduce a #75 tax on every liter of fuel

Reduce number MDAs

Infact go listen to Peter obi he Sabi pass me

reddingtonblack:




LOL ! speaking of revenue, the major determinant of A nations GDP growth is solely Local productivity and that is what we are saying that regardless of budget of deficit if the country is producing at optimal level the economy will still boom.
American one of the biggest economy if the number one the world buh they do experience budget deficit.
I think the problem is that you people are not just being open minded, Everything be it good ones has demerits, so posting budget deficit demerit holds no water, what matters is can the benefit outweigh the downsizes under efficiency

Fujiyama:



^^^
On a general note you are right. Taking on debt can create wealth - and it does. We see it in the private sector all the time. The public sector...not so much. Does the real world experience of developing countries (sub-saharan Africa in particular) support debt finance as a growth strategy?


the real world suggest that if you dont find a means of raising the revenues to develop your country you will fall behind. What is happenning to Nigeria is we have an aversion to borrowing, we borrow for consumption and we have an aversion for taxing the people or paying taxes. Something has to give and the result is what we are seeing poverty!!!! for instance you need to build roads, you cant spend 16 years building a 121km lagos ibadan road and expect to develop because you dont want to borrow or raise taxes, the world is NOT waiting for Nigeria...this is why we are falling behind


^^^
True. Fair point. We all agree on this.



^^^
Which raises the question: why didn't he build the refineries instead?

I am not Buhari. i cant answer for him. I go back to what the professor said "the problem in Nigeria is not so much corruption but the lack of intellectual capacity" perhaps he was so obsessed with citizen welfare that he didnt realise it is a penny wise pound foolish option..again a consequence of leadership that dont understand wealth and economics. This also goes back to the issue of capacity. Buhari is not a corrupt man even if those around him may be, it just highlights the need to have leaders who understand wealth, finance, development. that you dont steal does not mean those around you wont but more importantly it does not mean you will take the right economic decisions. Again it speaks to what the the lack of intellectual capacity amongst Nigerians both leaders and citizens who seem to think honesty equals competence.



^^^
Again, we are all in agreement on this.



^^^

These are very strong words for what is sensible, prudent behaviour. How is eliminating wastage such a bad thing? Are all the measures you listed mutually exclusive? Isn't it possible to cut waste, increase government revenue and borrow sensibly - all at the same time?

I have not said cutting waste is a bad thing. My point is misguided emphasis on cutting waste without emphasizing the real issue.....increasing revenues.



^^^




^^^
I think at this point you need to post the exact comments made by Obi (I presume all these references are about him) on debt finance. It'll help me understand your argument more.

with sincerity and due respect I suggest you use google


^^^
If you don't reform your public sector and build your institutions you will bleed out that $50b (and more) in no time. There are several studies on the opportunity cost of public sector reform. There are several studies on the true cost of public sector corruption in the 3rd world. They make the point far better than I ever could. Take a look at them.

Nigeria's problems are many. Quite frankly we are a lost cause! IMHO, the damage is too severe for any of the contestants. The mindset and orientation of the people is a far more serious impediment to development than leadership. The constitution is also a problem, you cant build something on nothing. For some reason (again poor mindset, intellectual deficiency) we seem to think can miraculously change our trajectory by changing leaders, but who are these leaders? Leaders emerge from a pool of people called the citizens, the same people with a poor mindset and intellectual deficiencies. If you pick the best fruit to represent your farm from a basket of spoilt or inferior fruit, chances are even the best is still an inferior product because you forget the basket is a basket of spoilt or inferior fruit. My comments are specifically on the issues of debt, revenue and wastage. Until we fix the fundamental issues plaguing us which i believe are the constitution and our orientation/mindset as a people, we wont make any progress. if our focus for generating funds is on cutting waste and reducing debt when the issue should be on increasing revenues

babaolofin:


Tinubu remains the most intelligent Presidential aspirant in the history of Nigeria outside MKO Abiola. What Tinubu said is based on sound economic principle.

Tinubu as a Senator in 1992 / 1993 was very deep in analysis and sound in his contribution that he became very noticeable among his peers and political observers in Nigeria. As a governor, he was in the opposition dissecting Obasanjo's policy and making his contribution on different fora. Tinubu Colloquium is a National Developmental Institute platform for the generation and incubation of Ideas for National development.

No person dead or alive has fought the kind of battle Tinubu has fought and is still fighting in Nigeria political history. Tinubu is fighting an intensive spiritual war. This is in addition to physical, mental and psychological warfare. No person has ever fought such war in Nigeria political history, not even Awolowo.

The forces of heaven that have brought him this far will ultimately lead him to the Presidency.

Perfectbeing:

Anambra did not run a debt deficit. Anambra reduced MDAs and had no private jet.

Is Anambra the best State in Nigeria?

mrvitalis:


You need to look at starting point before Tinubu became governor of Lagos name a state better than Lagos ?

AmuDimpka:
Oga open minded all these years you have been running on deficit budget has it helped your nation in any way


Stop this your gazelle garagara attitude