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Nairaland Forum / Nairaland / General / Politics / Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion (7495 Views)
Chinese Loans: How FG Signed Empty Loan Repayment Documents – Reps / Sagay: Nigerians Displaying Ignorance Over Chinese Loans / Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This (2) (3) (4)
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by Originalsly: 8:19am On Apr 03, 2023 |
Hmmmm .... the loans have a grace period of 7 years . .. the economy is this bad .... and we have just started repaying some of the loans.... the incoming administration will have to use most of the income to service the loans ... or will be borrowing to pay back. If the loans cannot be serviced .... and the loans were tied to secret collaterals.... then we can expect to see the Chinese owning parts of Nigeria and most likely ... parts that are rich in minerals or are very good for agriculture .... and also taking ownership of the railways ... ports... water projects etc ... the very projects that were developed with the loans. 2 Likes |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by Wilson125(m): 8:20am On Apr 03, 2023 |
MuslimIgbo:yet you people voted for him against Jonathan, that was not even enough, Voted a finished version of him. Make una fasten seatbelt sha. 2 Likes |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by Brushstrokes20: 8:25am On Apr 03, 2023 |
The lifeless scammer and cohorts are all shades KLEPTOMANIACS! Satanic govt of SELF SERVING THIEVES AND BLOODTHIRSTY TERRORISTS! Buhari is Nigeria's WORST BLUNDER. 1 Like |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by FireUpNow(m): 8:26am On Apr 03, 2023 |
God1000:Na wa for you oo oo! You nor dey for this country abi? I nor talk pass that one |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by patrickcollins: 8:26am On Apr 03, 2023 |
bonnyhope:Money for Niger Bridge was not borrowed from China, the company that is part of funding the bridge will toll it for years until they recoup their investment and Jonathan's Government paid huge amount of money for same project. 2 Likes |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by patrickcollins: 8:30am On Apr 03, 2023 |
belshazzar:Let's see if that will help us since we can't get it right as a nation. |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by bonnyhope: 8:35am On Apr 03, 2023 |
patrickcollins: Okay o Actually we outsiders may not know the actual truth, we are commenting base on what is available for us on social media |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by callmevirus(m): 8:41am On Apr 03, 2023 |
I like it instead of to fight corruption all they can do is to fight Peter Obi 2 Likes |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by emperorlaqrin: 8:43am On Apr 03, 2023 |
This is one of the reason I am supporting Obi among the three main contestants in the last election because he seems to be the only one frugal in terms of finances. Make we just dey brace up of the impending decline in governance in the coming years. Anyway I pray for the best sha and hope the selected winner will transform things |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by ogbe88(m): 8:47am On Apr 03, 2023 |
Femisol:U r not well 1 Like |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by Gamesmart: 8:50am On Apr 03, 2023 |
maleekberry: God1000: havenz: house10studios: KanwuliaExtra: The report says some of the projects the loans were used for includes the following: 1. Parboiled Rice Processing Plants Project (Fed. Min. of Agric & Rural Dev.) 2. Nigerian Railway Mordernisation Project (Lagos – Ibadan section) 3. Nigeria Rehabilitation and Upgrading of Abuja – Keffi – Markurdi Road Project 4. Nigeria Supply of Rolling Stocks and Depot Equipment for Abuja Light Rail Project 5. Nigeria Greater Abuja Water Supply Project Are you saying none of these exist or you just lack ability to read, comprehend and reason? If you understand the meaning of "include/including" and you have some sense to go online for further research on it (instead of your senseless BB Titans) you will find that the following projects, that were not mentioned in the article, were also financed with some of these loans: 6. Four Airport Terminal Expansion Project Ancillary Project 7. Nigerian ICT Infrastructure Backbone Project They don't exist too, Nigerian "yoots"? 2 Likes |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by jclassiq(m): 9:00am On Apr 03, 2023 |
The painful impact of the misadventure called Buhari will be felt for decades. 1 Like |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by Moniya4Real(m): 9:03am On Apr 03, 2023 |
Ordinary $4b that one thieving politician can pay off at a go |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by WowSweetGuy(m): 9:33am On Apr 03, 2023 |
That thin Mallam buhari is one of the worst thing to happen to Nigerians in recent times. What a failed mallam 1 Like |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by amp01(m): 9:42am On Apr 03, 2023 |
OfeAchi: Which Lagos was debt free in 2007? |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by Simplythebest: 9:45am On Apr 03, 2023 |
Last week my professor use Nigeria as a case study of worst economy and a country of bad growth and worst after 1975. I felt so bad. This happens in Europe i was like all the whole country in the world is Nigeria he is use as bad example. Our politicians are really wicked |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by Warl0ck: 10:05am On Apr 03, 2023 |
Dear chinese govt, we don use Daura take do collecteral for the loan wey we borrow una. If we no fit pay una money back, make una take over all the cows in daura. Thank You.! |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by obailala(m): 10:07am On Apr 03, 2023 |
KanwuliaExtra:The Chinese loans are the only loans which we can see what they were used for. |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by KanwuliaExtra: 10:09am On Apr 03, 2023 |
obailala: Na only you see am? |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by obailala(m): 10:11am On Apr 03, 2023 |
superCleanworks:Because of $4billion?.... Nigeria's currently owing over $90billion and only $4b of that amount is owed to china. Should China really be our biggest worry? 2 Likes |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by obailala(m): 10:23am On Apr 03, 2023 |
KanwuliaExtra:Oga no be only me see am. You too can see it if you want to.... - Abuja to Kaduna railway -Lagos to Ibadan Railway - Kaduna to Kano Railway extension - Abuja Airport New international terminal - Lagos Airport New international terminal - PH international airport upgrade - Kano international airport upgrade - Enugu international airport upgrade The things I listed above, you see them abi you no see them? Nigeria currently owing over $90billion. If the $4bn from china could complete the above projects, should the Chinese loans really be what Nigerians should be worried about? The China loans are the best things to happen to Nigeria since 1960. 1 Like |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by KanwuliaExtra: 10:26am On Apr 03, 2023 |
obailala: Unbelievable! Loan for 'UPGRADES''? |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by obailala(m): 10:27am On Apr 03, 2023 |
KanwuliaExtra:Is that the only thing you picked from my comment? |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by KanwuliaExtra: 10:30am On Apr 03, 2023 |
obailala: Even the Chinese loans are scams. That is the topic of this thread. All the other loans are just as bad. Bottom line. . . .not impressed with any of the scam-loans. |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by superCleanworks(m): 10:40am On Apr 03, 2023 |
obailala: take a wholistic view. it is Not about the 4billion but the rapidity at which the amount keeps increasing and the speed+ease at which the government runs to get these loans. Almost like it is now a default setting. This is the worry. If we keep going at this rate then that 90 billion will become a midget compared to what our chinese debt would be. |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by ChybuzzDD(m): 11:05am On Apr 03, 2023 |
adenigga: Anyone still in Nigeria should start learning the Chinese language ASAP. |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by MuslimIgbo: 11:11am On Apr 03, 2023 |
Wilson125:Mú muh You follow me go where I vote abi? E be like say e nor wan beta for you abi? |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by ChybuzzDD(m): 11:13am On Apr 03, 2023 |
obailala: Where did you read these $90bn and $4bn from?? The news says China's loan to Nigeria constitute 84.73% of all the loans given to Nigeria by all countries. |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by obailala(m): 11:42am On Apr 03, 2023 |
KanwuliaExtra:Like I said before, the Chinese loans are about the best loans Nigeria has ever taken possibly since 1960. They apparently are the only loans which we can see the projects they were used for so I'm not sure I understand what you mean by "scam"... I dont do such generalisations without tangible reasons. If you talking of scam loans, we should be asking ourselves what the remaining over eighty something billion dollar loans were ever used for cos I cant point to a single project. |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by obailala(m): 12:04pm On Apr 03, 2023 |
superCleanworks:Rapidity of it's increase? In 8 years we talking $4bn compared with a total debt stock of $103 billion, and you really think it's the $4bn from China (which were actually used for visible projects) that we should be worried about?..... Nigerians are just experts at focusing on the wrong things! With the way everyone focuses on only these Chinese loans, I suspect some kind of conspiracy from disgruntled corrupt govt officials who desperately hate and will do anything to frustrate these China loans cos these are the only loans they can't steal from. Or how else do you explain that out of $103 billion total debt, no one seems to be worried about the $99 billion which apparently vanished into thin air, but everyone's worried about $4bn which were actually used for visible projects? https://www.premiumtimesng.com/business/business-news/578847-nigerias-public-debt-rose-to-n44-06trn-in-q3-2022.html |
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by obailala(m): 12:16pm On Apr 03, 2023 |
ChybuzzDD:Nigeria also has a massive debt burden from the IMF / World bank too; foreign loans aren't only from 'countries'. I even made a mistake there; Nigeria's total debt is actually $103bn as at 31st december 2022 (not $90bn). You might argue that only $41.7bn of that amount is our foreign debt but then, $4bn from china is still less than %10 of our total foreign debt. https://www.dmo.gov.ng/debt-profile/total-public-debt |
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