Blazetrailer:


Lol...that last line shows that you do not understand how things work.

Nigerian govt. can not resist borrowing. in fact, the main reason Tinubu is running from pillar to post to Arabian countries even when they don't want him is to seek for foreign loans/investments. NIGERIA IS ILLIQUID!!! The little money you see circulating in the economy is the ways and means(free currency printing) granted by Emefiele. No inflow is coming from Oil sale(the oil production for next 18 months have been used as futures/derivates). Whatever the govt is calling inflow from recent publications are portfolio investment that will have to be taken out of the country by their investors. This current government might have no other option than to turn to the ways and means that they have been badmouthing recently. The subsidy is back, even bigger that it was despite the government being hush about it. No foreign organisation wants to grant Nigerian loans because the feel the reforms were not well implemented.

bejeria101:
I wonder o, clueless clowns

Aramco in Talks for US LNG Projects as Mideast Gas Race Heats Up, Saudi state company in discussions with a number of entities
Others in the region are also betting big on the LNG sector.

Saudi Aramco is in talks with companies for liquefied natural gas projects in the US as it looks to the fuel for global growth at a time when rivals in the region are also expanding in the sector.

The world’s biggest crude oil exporter is in “discussions with several entities in the US and other regions, Chief Executive Officer Amin Nasser said on an earnings call with reporters. The company will focus on LNG internationally and look to use its gas output at home to produce blue hydrogen and power, he said.

https://www.bloomberg.com/news/articles/2024-03-10/aramco-in-talks-for-us-lng-projects-as-mideast-gas-race-heats-up

sulaak:

The EIU's advice on taking loans to protect the Naira and increase the country's foreign reserves is bad advice and should be ignored, just like they should have ignored the World Bank's advice on floating the Naira.

Due to excessive corruption in Nigeria, the country should focus on investment. Any loans into Nigeria will be stolen and wasted by Nigeria's political elites.

Any new loans to Nigeria will be excessive, considering Nigeria's high-risk and moody ratings at B and C.

The president's team has got one thing right. Seek foreign investments from the Gulf states (UAE, S Arabia and Oatar). The above countries are looking for new markets in which to invest their excess funds. Nigeria should seek investment in LPG and LNG to build new deep sea ports and agriculture.

Advancedman:
Thunder fire EIU

nedekid:
As a layman in economics, I think we should put a moratorium on all new projects for the next 2 years, heavily cut down on government spending. You cannot have low income, borrowing money, then building bridges and roads etc. That may be a recipe for desaster. Sinking deeper into debt. Look at it like our guys on this forum and loan shark sokoloan. You are broke, you take sokoloan with no means of payback. You then use the money to buy phone, inststead of turning it over several times in your existing business then using the gain to buy the phone.
One of the ex presidential candidates did that in his state. A state in debt, cut down expenses, turned the accounts from red to green and then left huge cash in the account for his predicessor to continue, with the intention that he will sustain the momentum, spending in a sustainable way out of saved amount. But what will Nigerians say, he did nothing, no new road no this no that. How do you spend on infrastructure through borrowing? Will you be in debt and then take loans to buy new car, build new house, or rather use the money to revive your business and when it makes profit, use the profit to build the house and buy the cars?

nairalee:
Na lie. Nigeria has defied most economic theories. Most policies that worked in other countries have failed woefully in Nigeria because we have very selfish and greedy people that benefits from the decay we're currently facing

Blackfire:
More like remove the rope from the slaves and exchange it for heavy chain



Slavery never left, it only change face

grandstar:


This was the most indepth analysis of the Nigerian economy I have ever seen this year and you reply "na lie."

What an uneducated response

malali:
I am not an expert, but i think we should look inwards and privatize some government assets.
And also seek debt forgiveness, we cannot keep borrowing and borrowing.
The interests rate around the world right now is crazy.
If you borrow money from anyone, you might as well pay back with slaves.
Which is technically what is happening now in the world, the western powers borrow us money that paying becomes difficult, Nigerians end up japa-ing as living conditions are tough in Nigeria.

Then when they get abroad the japa people are exploited. So technically they are not coming to capture slaves in Badagry anymore but they are making the slaves come to them.

Major7:







Tribalism has eaten deep into your brain,hence the malfunctions. Suffering knows no tribe dude wake up

Dpharisee:


@bolded is supposed to be his successor

Blazetrailer:


Comprehension issue!! You are the unintelligent one. Now read

1.The govt is not getting forex inflows. All future oil sales for months/years have been locked up in future/derivates, meaning the oil have been sold in advance and money collected by previous administration.

2. The current govt came up with an expansionary budget, designed to spend its way out of economic challenges, hence a very huge budget

3. The subsidy is back, meaning govt have to spend more than it budgeted in order to avoid social strife/disruption

4. No multilateral/bilateral organisation is willing to give Nigeria further loans due the poor ratings and so because they feel that the reforms were half hearted and there might be irrational govt interventions soon based on on-going events.

5. The only option left is to borrow internally through ways and means(same thing previous admin did)

All of the above are facts in the open.

Do you understand now?

Zetty177x:


My dear...it's called reality. Y'all voted someone cos of tribe....he's not ready to reverse his stupid, senseless policies until y'all die... people are gonna die ..if u don't eat well, u get sick, and when u get sick and get a major illness, u ain't coming out...I love my Yoruba peeps...but this man right there is not a true Yoruba. He's wicked

Blazetrailer:


Buhari might have mismanaged the economy broadly speaking, the hasty decision to remove the subsidy and devalue the currency without a proper plan is responsible for the worse situation. Leave Buhari out of this for now. The guy who bragged about fixing Nigeria based on building Lagos is now in charge of destroying the country completely. The govt has no choice but to borrow. There is no other option at least for now. Nigeria is going, going.....

Pakman:


90% of African leaders up tilll today, have been cowards from the days of slavery.

seunayantokun:


I agree with you on the fact that Nigeria is fast heading towards break-up but i don't agree with you that oil subsidy was hastily removed. One, it was sinister politics to know the truth but negatively feed emotions of the populace with untruths. The truth was there was no more financial ability to provide funding for the bogus subsidy claims. That was why Buhari and the national assembly did not make provision for them in the 2023 budget. They all saw it, but left the next administration to face the wrath of Nigerians.

The NNPC had stopped making any remittance to the federal purse - stealing continued there unabated. The CBN was rotting seriously but making all moneys available for Buhari and his cabal to finance their selfishness and terrorists unleashed on the country to implement their fulanisation agenda. The situation was worsened by frivolous printing of naira notes to meet up with monthly allocations to FG, states and local governments amongst other things. Governors and other politicians who saw it couldn't speak up but Governor Obaseki of Edo State said more than enough at the time. The foreign reserve had been run aground with just $2 billion left there. There were attempts to cover up lots of things with borrowings to the extent that many decades into the future of Nigeria had been mortgaged, and now over 80%, we have been told, of Nigeria's revenues goes into financing the country's debt burdens. Have you asked why Dangote refinery which got lots of yet-to-be-questoned free billions in dollar from the Buhari administration cannot readily get crude oil supply from your NNPC Ltd and now trying to import crude to refine? Because NNPC has practically next to nothing to supply local refineries. I have mentioned just a little bits of the realities. To compound the woes, Boko Haram and sophisticatedly armed fulani terrorists have continued to close down farms, kidnapping for ransoms, killing farmers and taking over communities and villages where food and cash crops were grown. So, when Tinubu said subsidy was gone, he couldn't have done any better. Wherewithal could he have continued paying the fraudulent claims which in reality were only means of free money for some rogues? I would say that Tinubu is facing karma because he, Pastor Tunde Bakare, Buhari, etc whipped up sentiments and emotions against Jonathan who had wanted to remove the subsidy long ago when it would have been less painful for Nigerians. However, blaming him for removing it when he did is playing bad politics, any other person as president would have done same thing.

Those still bent on Tinubu bad, Obi saintly and Atiku angelic had better wake up and face the realities of their life. Enough of flying a kite with your life. As it is now, the only solution for all of us is restoring security, to start with, so that we can go back to agriculture. Nigeria must go back to regionalism. State and council policing must be quickly ushered in. Security of lives and property will be the start-off point. Otherwise total abreak-up is more imminent than imagined.

seunayantokun:


I agree with you on the fact that Nigeria is fast heading towards break-up but i don't agree with you that oil subsidy was hastily removed. One, it was sinister politics to know the truth but negatively feed emotions of the populace with untruths. The truth was there was no more financial ability to provide funding for the bogus subsidy claims. That was why Buhari and the national assembly did not make provision for them in the 2023 budget. They all saw it, but left the next administration to face the wrath of Nigerians.

The NNPC had stopped making any remittance to the federal purse - stealing continued there unabated. The CBN was rotting seriously but making all moneys available for Buhari and his cabal to finance their selfishness and terrorists unleashed on the country to implement their fulanisation agenda. The situation was worsened by frivolous printing of naira notes to meet up with monthly allocations to FG, states and local governments amongst other things. Governors and other politicians who saw it couldn't speak up but Governor Obaseki of Edo State said more than enough at the time. The foreign reserve had been run aground with just $2 billion left there. There were attempts to cover up lots of things with borrowings to the extent that many decades into the future of Nigeria had been mortgaged, and now over 80%, we have been told, of Nigeria's revenues goes into financing the country's debt burdens. Have you asked why Dangote refinery which got lots of yet-to-be-questoned free billions in dollar from the Buhari administration cannot readily get crude oil supply from your NNPC Ltd and now trying to import crude to refine? Because NNPC has practically next to nothing to supply local refineries. I have mentioned just a little bits of the realities. To compound the woes, Boko Haram and sophisticatedly armed fulani terrorists have continued to close down farms, kidnapping for ransoms, killing farmers and taking over communities and villages where food and cash crops were grown. So, when Tinubu said subsidy was gone, he couldn't have done any better. Wherewithal could he have continued paying the fraudulent claims which in reality were only means of free money for some rogues? I would say that Tinubu is facing karma because he, Pastor Tunde Bakare, Buhari, etc whipped up sentiments and emotions against Jonathan who had wanted to remove the subsidy long ago when it would have been less painful for Nigerians. However, blaming him for removing it when he did is playing bad politics, any other person as president would have done same thing.

Those still bent on Tinubu bad, Obi saintly and Atiku angelic had better wake up and face the realities of their life. Enough of flying a kite with your life. As it is now, the only solution for all of us is restoring security, to start with, so that we can go back to agriculture. Nigeria must go back to regionalism. State and council policing must be quickly ushered in. Security of lives and property will be the start-off point. Otherwise total abreak-up is more imminent than imagined.

Blazetrailer:


....but..but..the subsidy is back and much worse, we are now funding it with borrowings. If there was no subsidy, a litre of fuel would be over N1000 by now. Clever by half... I repeat, the subsidy management could have been better managed. Currently the IMF and World Bank are refusing to loan the country more money stating that the reforms were poorly hatched.....

2mch:
Not true. But we are not ready for the hardship that comes with doing things the right way.

Blazetrailer:


Comprehension issue!! You are the unintelligent one. Now read

1.The govt is not getting forex inflows. All future oil sales for months/years have been locked up in future/derivates, meaning the oil have been sold in advance and money collected by previous administration.

2. The current govt came up with an expansionary budget, designed to spend its way out of economic challenges, hence a very huge budget

3. The subsidy is back, meaning govt have to spend more than it budgeted in order to avoid social strife/disruption

4. No multilateral/bilateral organisation is willing to give Nigeria further loans due the poor ratings and so because they feel that the reforms were half hearted and there might be irrational govt interventions soon based on on-going events.

5. The only option left is to borrow internally through ways and means(same thing previous admin did)

All of the above are facts in the open.

Do you understand now?

CodeTemplar:

So the govt is trying to spend its way out of economic challenges but in another breathe, increasing interest rates to curb circulating money level.

You are talking zig-zag bro.