And they said, he is just starting

Check my signature

wittywriter:

Wittyness .

Dude, step up this your wittiness habit. It is too low.

Buhari is the worst kind of leader anyone would aspire to takeover from, if Tinubu had taken over from Obasanjo or Jonathan he won't be faced with the current mess left behind by Buhari and for which he is now following in Buhari's dirty shoes

One day person go just wake up see say oyibo don chain am like slave cos of the debt wey Nigeria govt de owe. Dem no de ever pay back. Na to de borrow the go. Only God know the kain deal wey dem get with the borrower wey be say dem never pay wetin dem borrow but you still de give dem more loan

MrPOTUS:



Whether we like it or not, Tinubu has nothing to offer.

The idiots saying we should give him time are not delusional.

That was how they gave buhari time to destroy Nigeria.

Who would have thought, that buhari will be better than Tinubu

Spit!

My brother there are no immediate solutions to Nigeria's problems. Make Soludo, Sanusi or Okonjo Iweala president, it's still gonna be the same thing.

Lol.

I have absolutely nothing to say to this other than what I just said.

The honest truth is that we have no choice.

We are in debt because we rely on oil and because we have a bad corruption problem and because we don't raise enough money from taxes.

The oil reason is even bad. Most of the time oil price is never where we want it to be. Add the fact that the amount of revenue we get from oil is even dang too low for a nation our size.

The way forward is to get a leader that would diversify our economy,make us an industrial nation that exports industrial products and make sure that the 70% of taxable Nigerians that pay no tax pay some tax and stop hiding behind poverty

I wish there were alternatives

EKONGKING:
Tinubu is the right man to fix this debt problem . He is a accountant by profession not a third class graduate who specialises in importation

I have read most of ur comments here but I used to passby but I am convinced now that u don't seem normal in anything.

U can still be sensible if u stop eating shit.

Clueless sets of leaders in power, the question is that where is the alleged fuel subsidy removal funds they said they saved since last May the clueless certificates forger and drug baron Tinubu administration since inaugurated? They can only deceive themselves and their fans and not me. As far as I’m concerned, Tinubu will be worst than the failed 8 years of Buhari government. Tinubu has completely destroyed Nigeria economy with huge debts hanging on his neck.

Useless govt of self serving THIEVES
The shyyythole is a lost cause!

emmanuelbrown26:
Whenever I take a walk, I see shops closing
Whenever I take a walk, I see businesses collapsing. Well, we are all in dis mess together, be it PDP, APC and LP. But d irony of dis whole shit is that, same idiots that brought this useless party into power are feelings d heat most and I don't know why

Most small Industries in Abuja, Kogi & Nassarawa laid off 70% of their staff.

Racoon:
A serious country with desire for development should be mindful of its debit burden. Debt servicing is not debt payment.

America is the highest debtor in the world
South Africa is the highest debtors on Africa
Lagos state is the highest debtors amonge the states in Nigeria

Do you pay your taxes?

nairalanda1:
The honest truth is that we have no choice.

We are in debt because we rely on oil and because we have a bad corruption problem and because we don't raise enough money from taxes.

The oil reason is even bad. Most of the time oil price is never where we want it to be. Add the fact that the amount of revenue we get from oil is even dang too low for a nation our size.

The way forward is to get a leader that would diversify our economy,make us an industrial nation that exports industrial products and make sure that the 70% of taxable Nigerians that pay no tax pay some tax and stop hiding behind poverty

I wish there were alternatives

stonemasonn:
My brother there are no immediate solutions to Nigeria's problems. Make Soludo, Sanusi or Okonjo Iweala president, it's still gonna be the same thing.

Pessimist are always doubtful.

CodeTemplar:
The world is addicted to debt and not just Nigeria. What makes ours one of the worse is unproductive lifestyle and big-man-ism(showoff).

..and laziness...our federal government and politcians are lazy because they see world bank giving them.loan anytime they ask of loan which had made the federal government lazy and do not want to work hard to.look for a way they can generate revenue money into the country to run the economy and country with all what God has blessed nigeria with crude oil, gas, mineral resources, fertile land for agriculture..

DeAnonymousGuy:
One day person go just wake up see say oyibo don chain am like slave cos of the debt wey Nigeria govt de owe. Dem no de ever pay back. Na to de borrow the go. [b]Only God know the kain deal wey dem get with the borrower wey be say dem never pay wetin dem borrow but you still de give dem more loa[/b]n

They will give them more loans because they want you to be like that for years to come.

Meerahbel:
Do you pay your taxes?

LOL.

Good evening.

Borrowing is all they know...!

They have nothing upstairs.

ufotunang:
..and laziness...our federal government and politcians are lazy because they see world bank giving them.loan anytime they ask of loan which had made the federal government lazy and do not want to work hard to.look for a way they can generate revenue money into the country to run the economy and country with all what God has blessed nigeria with crude oil, gas, mineral resources, fertile land for agriculture..

Land wey herdsmen they kill people

got you there. Nigerians we are very good arm chair critic

nairalanda1:


LOL.

Good evening.

Angelfrost:
Borrowing is all they know...!

They have nothing upstairs.

You elected them to power.

Beg.
Hehehehehe hehehehehe hehehehehe hehe.

Beg.

You think say na your neighbor or your brother wey you dey owe money abi.

This is the problem with us as Nigerians, u guys don't read and when someone points it out you take offense.

Things do not work that way, you cannot beg your way out of this when all you did was squander the money you borrowed on frivolity.

stonemasonn:
I'm sorry to say, but Nigeria need urgent financial aid.
Tinubu should beg all the lenders for a one year debt servicing relief.
Just one year of not paying interest on dept without additional cost/ penalty. To help him sought our economic woes for just one year...

stonemasonn:
I'm sorry to say, but Nigeria need urgent financial aid.
Tinubu should beg all the lenders for a one year debt servicing relief.
Just one year of not paying interest on dept without additional cost/ penalty. To help him sought our economic woes for just one year...

GBAM!
Bro,I agreed with your submissions,if the longthroat Creditors in Europe and now Chinese will agree!
- Dr Agbakoba was telling you this Week, that there is no Money,many of you on Social Media, easily termed him as unstable in his disposition! You can see how this Indomie generation behaves towards the Elders in our Society!
-Facts will be Facts- Buhari knew there was no money coming, alongside his Finance Minister then- Mrs Usma-who has silently went outside Nigeria -to picked a World Bank Job- that she could not even nformed Buhari!
That was how terrible those who served Buhari were,as they became lords on their own and they drible the President on Economic Matters!
Till date, NIGERIANS don't know- How Much,we were Receiving ( Revenues) and How Much we Spent( Expenditures) during Buhar but it had been Loans after Loans!
So ,we borrow for major Projects e g 2nds Niger -Bridge- thank God for Buhari on these Infrastructures, including Railways,but is better than PDP under OBJ and GEJ- that was sharing our Resources and could not have a single Project and Infrastructure they can lay Claims to! eg Dezani was busy looting the money under GEJ.
No wander,the Youths of over 30%+ ,could not get Employment!
Too Bad!

Meerahbel:
You elected them to power.

Me?!! Do I look or sound stupid?!!

Meerahbel:
got you there. Nigerians we are very good arm chair critic

No, you haven't.

I chose to laugh at you because you really don't want an answer to the question you asked, you just want to call me an oppressor.

And I chose to keep my pearls to myself

LOL

Good evening.

What of bulk of oil sold daily?
What happened to d earning?
What of internally generated revenue?

If we borrow to invest in providing 24hr electricity, fix refineries, that's nice and will pay back.
But borrowing not for investment is playing with d future of our kids.

Bluntemperor:


GBAM!
Bro,I agreed with your submissions,if the longthroat Creditors in Europe and now Chinese will agree!
- Dr Agbakoba was telling you this Week, that there is no Money,many of you on Social Media, easily termed him as unstable in his disposition! You can see how this Indomie generation behaves to Elderly!
Facts will be Facts- Buhari knew there was no money coming, alongside his Finance Minister then, who has silently went to picked a World Bank Job- that she could not informed Buhari!
That was how terrible those who served Buhari were,as they became lords on their own and they drible the President on Economic Matters!
Till date, NIGERIANS don't know- How Much,we were Receiving ( Revenues) and How Much we Spent( Expenditures) during Buhar but it had been Loans after Loans!
So ,we borrow for major Projects e g 2nds Niger -Bridge- thank God for Buhari on these Infrastructures, including Railways,but is better than PDP under OBJ and GEJ- that was sharing our Resources and could not have a single Project and Infrastructure they can lay Claims to!
Too Bad!

I pray the creditors refuse...! Una never see anything.

You think leadership is about winning elections, then apportioning blames after getting elected?!! Issokay.

It's laziness...all this loans world bank and IMF have been easily giving our federal government has made them to relax and be lazy and not made our federal government to have the wisdom, sense on how they can generate revenue, money into the country to use it to run the economy and country...if they stop to give our federal government loans the federal government will have sense on what to do to generate revenue for the country ....the easy loan given has made the federal government lazy and to lose focus

Hemeenworth:
Tinubu and south west are here to destroy Nigeria

They don't care about the wellbeing of the nation

All that matters to them is how their tribesmen climb to power

That Tinubu is from the South West doesn't mean everyone in the South West supports him.

For those that are interested, here is the main reason why we borrow.,,and why Obi or Atiku winning won't have stopped the borrowing...

Corden and Neary (1982) have demonstrated how Dutch disease occurs in an economy. According to them, in a country experiencing "boom" in the export of a commodity, the economy can be divided into three sectors: the "booming" export sector, the "lagging' traditional export sector and the non-export sector. The Dutch disease occurs when the traditional export (tradable goods) sector is crowded out by the booming export sector and the non-tradable goods sector. The lagging traditional tradable goods sector may include cocoa, palm produce, cotton, rubber, coal, copper, textiles and some manufactured goods while the booming export sector may be crude oil, coffee, gold, etc. The non-tradable (non-export) goods sector covers all those goods that are produced for domestic consumption only, e.g. staple food items, clothing, building materials, locally-assembled cars.

Where crude oil (and gas) is the booming export sector, the non-oil export sector may be crowded out by the oil sector and the non-tradable goods sector of the economy. This can happen when the oil revenue windfall increases domestic demand for non-tradable goods and pushes up domestic prices leading to an appreciation of the real exchange rate which in turn reduces the competitiveness of the non-oil export sector. This will in turn lead to a reduction in non-oil exports in both quantum and value terms. The oil windfall may also lead to movement of the factors of production in the economy.

[b]For instance, capital and labor (and land) may shift from the non-oil export sector to the oil sector (in order to maintain or increase reserves and production) and the non-tradable goods sector (to take advantage of the growing domestic demand). This explains why the increase in oil prices and the subsequent oil revenue windfall in many oil-exporting countries have tended to depress their non-oil export sector while at the same time generating a boom in both the oil and the non-tradable goods sectors. With capital and labor shifting from the non-oil export sector to the oil-sector and non-traded goods sector, firms in the non-oil export sector are forced to either close down or reduce their scale of operation. The boom in the oil and non-traded goods sector increases the demand for imported goods. This may not be a problem in the short-term so long as the country has enough foreign exchange to pay for the imports. The depression in the non-oil export sector and the boom in the other two sectors have medium to long term implications for the economy because the oil windfall will not be permanent given the volatility, unpredictability and exhaustibility of crude oil. For instance, if there is a decline in oil prices and oil revenue, the lagging and collapsing non-oil export sector will not be able to compensate for the drop in oil revenue while domestic demand for the non-traded goods and imports remain sticky. Consequently, the country will be forced to borrow from the international financial market to compensate for the decline in oil revenue. Over time, external debts will increase and so will the debt service obligations. Even when oil prices go up later and there is another round of oil windfall, it is difficult to correct the earlier damage or distortions created by the initial or previous oil windfall. In some cases, the oil exporting country may be forced to adopt some form of structural adjustment program (SAP) to correct such distortions or imbalances. Some of these SAPs are painful and may increase the prevalence, depth and severity of poverty[/b].

In an extreme case, the Dutch Disease can lead to "Immiserising Growth" syndrome - a situation where increase in the output of exported commodity by a country leads to a deterioration of the country's welfare (Bhagwati, 1958). This happens when the effect of export-led growth on a country's terms of trade is strong enough to more than offset the direct benefits of growth. It is an extreme case of self-defeating growth. Although the theory of Immiserising Growth was not originally developed for oil-exporting countries, its tenets apply to many oil-exporting countries in the sense that despite the substantial increase in their export revenue, they have suffered significant decline in general welfare due largely to mismanagement of their oil revenue. Thus, the Dutch Disease syndrome confirms the assertion by a Spanish writer in the 16th Century that "the gratification of wealth is not found in mere possession or in lavish expenditure but in its wise application". Although the main manifestation of the Dutch disease syndrome in an oil exporting country is the decline or depression in the non-oil export sector, other "collateral" manifestations include appreciation of the real exchange rate at the onset, increase in corruption, increase in external debt and increase in poverty. However, an oil-exporting country must not suffer from the Dutch Disease. Furthermore, not all oil-exporting countries suffering from the disease have all "collateral" manifestations at the same time. Country experiences vary considerably depending on their political economy

Basically, as oil prices fall, and stay low...as happened in 2014-date, and even some may argue from 2011- date, we have to take loans to keep head above water

When oil prices rise, most of the revenue goes to paying back the loans...meaning we have to borrow more to lkeep our heads above water.

That'swhy IMF was recommending taxes.

Nice2023:



I have read most of ur comments here but I used to passby but I am convinced now that u don't seem normal in anything.

U can still be sensible if u stop eating shit.

Whatever ur delusions say.