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Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion - Politics (2) - Nairaland

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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:
Buharî has always been known to be a very USELESS, CORRUPT AND UNFORTUNATE LEADER, even since 1983.

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! undecided
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:
I don't even know what they use all the money for, nothing tangible
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:


2nd Niger bridge

Lagos/Ibadan Road

Etc
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:
basically in the next 27 years , we should be ready for Chinese invasion
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:
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.

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:
Buhari remains the only President to complete a railway in Nigeria after the colonial masters.

I will always remember him for this singular act of using the loan judiciously for railway.

PDP still has their National secretariat uncompleted despite 16 years in government with crude oil sold at a high price.
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:
The painful thing about all these loans is that there nothing on ground to show for it.

Am sure the Chinese have their own agenda that's why they keep boring nigeria money.

God1000:
I don't even know what they use all the money for, nothing tangible

havenz:
And those fools who benefits from it will conclude that they is nothing wrong to collect a loan even when they is nothing to present from the loan. Even Buhari is tired and packing to leave Aso Rock.

house10studios:
And if u ask them show us what u did with all that money, they will say train station and feeding the poor


Recording, Mix and mastering, Beat making, Voice over. 090 75 252 828 LAGOS EGBEDA

KanwuliaExtra:
Nothing to show

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:
There was a country.
However, help is on the way. I believe Tinupu has the balls to take Nigeria out of debt. He is an economic strategist and financial juggernaut. Look what he did in Lagos. As at 2007, Lagos was debt free.

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:
Nothing to show
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:
The Chinese loans are the only loans which we can see what they were used for.


Na only you see am? grin
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by obailala(m): 10:11am On Apr 03, 2023
superCleanworks:
China will soon send delivery van to come & pick up Nigeria. Na their property.
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:


Na only you see am? grin
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:
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?

Unbelievable! Loan for 'UPGRADES''? grin
Re: Chinese Loans Rise By 209% Under Buhari, Hit $4 Billion by obailala(m): 10:27am On Apr 03, 2023
KanwuliaExtra:


Unbelievable! Loan for 'UPGRADES''? grin
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:
Is that the only thing you picked from my comment?

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:
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?

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:


Source: https://punchng.com/Chinese-loans-rise-by-209%-under-Buhari-hit-$4bn

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:
yet you people voted for him against Jonathan, that was not even enough, Voted a finished version of him. Make una fasten seatbelt sha.
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:
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?

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:


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.
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:


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.
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:


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.
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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