₦airaland Forum

Nemesis is finally catching up with the nigerian elite , i hope some more high profile kidnappings take place so that the nigerian elite know that their days of looting with impunity are now coming to a close, to the kidnappers very well done and hope you squeeze every last penny of their stolen loot out of them.

Nigerian Economy: Rising debt, IMF Once again, Collapsing Infrastructure as fat Cats get fatter
In 2005, during the tenure of Obasanjo with Okonjo Iweala as Finance minister, Nigeria paid a whopping sum of 12 Billion dollars to buy back 18 Billion dollars debt owed Paris club. This prepared the ground for Nigeria to completely pay off its debt by April 2006 and made her first African country to fully pay off its debt (estimated at $30 billion) owed to the Paris Club. This “exit” from debt trap was celebrated both nationally and internationally; the celebration alone was estimated to gulp 2.4Billion Naira.

This further confirmed the subservience nature of Nigerian ruling elites to their foreign masters in the west. This 12Billion Dollars would have gone a long way in solving many infrastructural challenges, the health, education and power would have positively benefitted immensely from this windfall, but those become completely unimportant when the interest of Nigerian ruling class or their masters are involved. Despite the fact that, over 35Billion dollars already paid in interest and the destination of this debt cannot be rationally traced, yet it was still the priority of thieving gangsters to dole out such a huge amount, under a dubious buy back deal.

Something similar happened in Argentina on September 2, 2008; President Cristina Fernandez de Kirchner of Argentina announced plans to pay off the entirety of debt owed to the Paris Club, which amounted to roughly $6.7 billion. Political pressures ensued and though the government officially insisted on its intention to repay,[3] government officials eventually stated that this is unlikely until global credit conditions improve, in spite of the fact that Argentina is richer than Nigeria. Regime of Cristina Fernandez de Kirchner became so unpopular and even up till now it has not emerged from this infamous attempt; but in Nigeria, this mad wastage was greeted with drumming and dancing.

A naïve observer would have thought that for Nigerian ruling class to have rejoiced over exiting debt burden means never again will they enter it again. That they have forever learnt their lessions, but can an irresponsible, unproductive and useless ruling elites live without debt? In less than 5 years, the debt portfolio has climbed and surpassed the 2005 figures. Nigeria now owes $37Billion. The World Bank/IMF, just as it did in 2005, has once again stationed its representative in person of Okonjo Iweala; at least to oversee its interest and ensure that its policies are followed to the latter. Despite favourable oil price in the international market which means more money for Nigeria, the debt continues to rise uncontrollably. The main difference between now and 2005, is the composition of this debt figure. Just $5 Billion is foreign; the remaining is debt owed their local friends and contractors. The immediate response of Okonjo Iweala after her swearing in was that there is no cause for alarm; that the present debt is just 19% of GDP, which falls short of 40% boundary recommended by World Bank. From her response, it means we have just begun the part two into the jungle of unending debt. As at present, N542bn is earmarked for debt servicing in 2011 budget alone. This amount is more than the total allocation for education and health combined. Okonjo Iweala personally benefitted from the 2005 deal because her Consultancy outfit actually brokered the deal and the consultancy fee alone is enough to encourage her to do it over and over again.

The main thrust of IMF/WORLD BANK policy for Nigeria, like other less developed countries is to devalue the currency. Nigerian ruling class, a complete slave to foreign interest is always ready to carry through any policy irrespective of its own local narrow interest. With a devalued Naira, the local debt becomes cheaper and inflation becomes galloping. Devalued Naira will make foreign component of the debt to be more valued and at the same time cheapen the local component. There might be a determined resistance from local bourgeoisie against this move, but as always, in the final analysis, the interest of International capital prevails.

This revealed more glaringly why inflation presently at 12.5% will likely shot up the more. Why Goodluck Jonathan Government will continue to deceive the Nigerian workers as regards minimum wages; even if eventually paid, devaluation will make mess of it. This regime like previous regimes is only capable of bringing succour to foreign interest and local cronies and at the same time increase pain and agony for Nigerian masses. Nigerian ruling class is absolutely dependent on foreign interest, this was also revealed by wikileaks: how US Government mobilized support for Jonathan and sent their illustrious daughters(Okonjo Iweala) to directly oversee their collective interest.

As long as Nigerian ruling class remain in power, more agony and frustration will continue unabated for Nigerian masses, just as foreign capital and local bourgeoisies benefit more and more from our pains. The only available alternative to a better Nigeria is booting out this thieving ruling elites, establishing the Government of the working people; for working people and in the interest ordinary Nigerians.

http://www.workersalternative.com/economy/110-nigerian-economy-rising-debt-imf-once-again-collapsing-infrastructure-as-fat-cat-get-fatter

eldoradoxx: Today I lost faith in my generation in Nigeria after reading comments by deranged people who support the kidnapp of an 82 year old woman, helpless and fragile woman, a professor who had help mould Nigeria through hundred/ thousands of students that had passed through her simply because she is the (unfortunate) mum of Ngozi Okonjo Iweala. This generation is hopelessly lost and I weep for this country. You claim its poverty that instigates kidnapping and I ask, are these kidnapper really poor people? It is greed not poverty that fuel s kidnapping. The other day Peter Obi had to demolish choice properties owned by these kidnappers! If it was poverty, why didn't they stop after some successful outing. For whoever that is support the kidnapp of his/ her fellow human, remember God is watching, what goes around comes around. It may be Ngozi's fragile 82 year old mum, tomorrow,might be ur fragile mum or dad or baby. Decent and sane pple don't celebrate this kind of news, only animls do !!

i dont know what planet you are currently residing on, but just in case you missed it the old woman kidnapped is not some impoverished woman she is a member of the same elitist class that has been rap.ing nigeria for the past 52 years and therefore must bear the consequences of having a corrupt daughter, if you think this old woman does not share the same values and views of her daughter you are simply deceivign yourself, you think this woman gives a damn about ordinary nigerians? these people live like kings and have been feeding off the fat of the land for decades it is in their interest for things to remain the same, its about time they received a taste of their own medicine, for too long poverty stricken nigerians continue to allow these bandits to get away with the wholesale plunder of the resources of an entire country without challenge.

Hopefully this incident will spell the beginning of a revolt by the poor against the satanic ruling classes of nigeria.

pro01: Abeg help me ask them oh.

A staggering number of Nigerians are unbelievably daft. How can so many people be endorsing or even "blessing" the kidnappers for abducting an innocent old woman - merely because her daughter happens to be a minister? ? ? ? ? ? ? ?

Assuming (but NOT conceding) that the minister deserves the worst fate for supposedly commiting heinous atrocities against the Nigerian people, does that make her mother vicariously liable?

I'm ashamed at how bleeped up some people are. Where is their humanity and sense of justice?

this "innocent old woman" was one of many beneficiaries of the money Okonjo Iweala looted from the nigerian treasury so she must bear the consequences of having a theif as a daughter, have you stopped to ask yourself about the teeming masses of unemployed youth roaming the streets of nigeria, do they deserve the miserable lives they have been condemned to courtesy of Okonjo Iweala and her accomplices in europe and america ? what have you got to say about a woman who diverts funds meant for education and healthcare into the coffers of european banks to pay off non existent debt ?

claremont: I wonder why the average Nigerian has become so sadistic that they rejoice at the misfortune of others, what is so good about an innocent grandmother being kidnapped regardless of who she is?!

There is a thin line between human beings and animals, and that thin line is our inherent common humanism. The day we loose this common humanism, we no longer become human beings, we become animals. Do unto others as you would want them to do unto you.

you are very funny,i'll tell you what is sadistic - colluding with europeans to steal the wealth of your own nation while the majority of your own people wallow in abject poverty, diverting money meant for the health care and education into your own personal bank accounts and then sending your own children to study abroad while the majority of nigerians attend sub standard schools and obtain a third rate education.

Okonjo Iweala in collaboration with the IMF oversaw the hike in petrol prices which has plunged many nigerians into a life of endless misery and grinding poverty, like i said i hope the kidnappers come back for the rest of her family.

jhydebaba: I tot this woman was lauded back then, why are u so ignorant

lauded by whom?

the woman is a thief, her entire family deserve to be kidnapped and forced to return everything she has stolen from nigeria. you seem to forget that she made her brother in america an overnight millionaire as soon as she was assigend to oversee the so called debt forgiveness scam.

onatisi: good news,they should demand for 1billion naira

i think $18 billion would be a nice start cos thats how much the biatch transferred into the hands of the paris club from nigeria's foreign reserves in collusion with that ba.stard Obasanjo.

nice one

mobb deep forever:



https://www.youtube.com/watch?v=A0Q_fDLEVLY

REALITY101: Crap plus death of autotune. Mek you filorit is all I heard. I rather listen to baby baby by Justin Bieber and die inside.

like i said hip hop is over and done with - gone are the days when hip hop was the definitive sound of the disaffected black youth , nigerians are non starters in the game, this is how hip hop used to sound :


https://www.youtube.com/watch?v=JxDdN-puo3g

To say that nigerian rappers are all a pile of shite would be the understatement of the year, hip hop is over and done with but the nigerian hip hop scene is a complete and utter non starter, nigerians need to get back to the drawing board and CREATE A SOUND THAT IS UNIQUE AND STOP COPYING AFRICAN AMERICANS BECAUSE THEY ARE NOT IN THE SAME LEAGUE - THIS IS WHAT HIP HOP IS SUPPOSED TO SOUND LIKE:


https://www.youtube.com/watch?v=Nqtjf-oW3tE

naptu2: I have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin but by the content of their character.

Martin Luther King August 28th, 1963

and yet the US govt still had him assassinated.

thats okay, despite being 20 years old you still have the reasoning ability of a 5 year old, so in many ways you are actually still quite young.

the people of ivory coast could have made better use of that money after the devastation caused there by NATO, the french colonialists and their african puppets.

ehie: i think i prefer my ignorance if knowledge will make me deranged and bitter like ya,i know of soyinka,world knows him too,i knnow of jamal,naija knows him too,both have made history,who r u,what r u?what have u achieved

i know of hitler and the world knows him too
i know of Pol Pot, Genghis Khan, Jack the Ripper and the world knows about them too - do you see how st.upid your statement above sounds, the fact that everyone in the world knows you does not mean that that person acheived great things, there are many people in the world today who are unknown but they have accomplished things that you will never acheive in a million life times.

Living in reality and understanding and accepting that reality does not equall bitterness it equals knowledge and as they say knowledge is power, strangely enough you actually sound deranged and bitter yourself and this must be down to the fact that you can't cope with reality, as soon as you are confronted with anything which might shatter the fantasy world that you live in you come unstuck - people like you usually end up in a bad way because life has a way of forcing you to face reality when you least expect it.

ehie: when u have won the nobel price for literature,the have the right to shut soyinka up,otherwise ur words are just the sound of a barking puppy

be quiet there!

do you even understand the history of the nobel prize - what it represents and who many of its previous recipients have been?

like i said you are dealing with self hate issues - for you as long as the nobel prize was created by a white man that means it must be something of value - i feel sorry for you.

ehie: WHAT ABOUT HOW WE TREAT FORIGNERS IN OUR COUNTRY..OR HAVE WE SUDDENLY BECOME SAINTS?

WHAT ABOUT TRUMPED UP CHARGES EMPLOYEES WOULD LAY AGIANST FORIEGNERS(I KNOW)

WHAT ABOUT THE HARASSMENT FROM CUSTOMS, HARASSMENT FROM POLICE,JUST BECAUSE OF BRIBES
WHY DIDNT YOU PUT LINKS ABOUT THE LEBANESE MAN WHO DIED IN EFCC'S CELL

OR THE ONES MURDERED WHEN ENTERING THE COUNTRY OR THE ONES WHO HAVE BEEN SCAMMED BY YAHOO BOYS

NOW I SEE WHEN WE ARE WRONG ITS OK,WHEN WE HAVE BEEN WRONGED ITS BECAUSE OTHERS ARE RACISTS...TAKE A CHILL PILL...
SO IN ESSENCE

EVERY BLACK MAN IS BETTER THAT EVERY OTHER RACE

EVERY CHRISTIAN FROM MY CHURCH IS BETTER THAN THE ONES THAT ARENT IN MY CHURCH ,
EVERY PERSON FROM MY TRIBE IS BETTER THAT ANYONE WHO ISNT FROM MY TRIBE
EVERY PERSON IN MY FAMILY IS BETTER THAN THE ONE WHO ISNT IN MY FAMILY
EVENTUALLY I AM MUCH BETTER THAT ANY ONE WHO ISNT MY ME

SELFISHNESS IS THE BASIS OF YOUR SUPPOSEDLY NEGRITUDE
SOYINKA SAID


A TIGER DOESNT ANNOUNCE ITS TIGRITUDE,IT POUNCES...YOU ARE BLACK YOU ARE AFRICAN YES WE KNOW,YOU HAVE BEEN WRONGED YES WE KNOW ,NOW WHAT?WHAT DO YOU DO FROM THERE,WHAT IS YOUR CONTRIBUTION IN THE RACE AGAANST TIME,WHAT HAVE YOU CREATED TO HELP HUMANITY,TO CHANGE LIFE?WHAT?

do you know of any lebanese man that was denied entry into a restaurant, club or hotel in nigera because he was not black?

these foreigners that you speak of in nigeria - how many of them are poor struggling migrant workers? arent the majority of them rich business people who come to nigeria because they understadn that the indigenous people are s.tupid and will allow foreigners to live cushy lives while they wallow in poverty.

Nigeria is the only country i know of where europeans, arabs and even indians resident in the country live better than the indigenous people - why is that?

do you think a black man could go to an arab country and open up a business and become a millionaire there? if you know of any please let me know.

no wonder this white nigerian will forever remain thankful to nigeria and nigerians.


but dispite all of those so issues that we have in nigeria this lebanese man STILL chose to remain in nigeria and inspite of them he and his family were able to run successful businesses in nigeria, so nigeria cant be that bad for certain kinds of people. do you think this guy and his family would remain in nigeria if they were not making money?

there is no denying the fact that nigeria has a lot of social and economic problems but inspite of these problems we still treat whites and other non blacks like kings, arabs have a a well known track record of treating black people like garbage but we continue to live in denial and close our eyes and ears to the truth. do you remember how many nigerian migrant workers were slaughtered like chickens in libya by arabs?

like i said to naptu - you need to re evaluate your self worth.

and stop posting meaningless junk written by wole soyinka who is a lap dog and mouth piece of western interests - they say he who pays the piper dicates the tune, wole soyinka is dependant on western financial support for his livelihoood as he lectures in american universities therefore he can not criticise his paymaster.

naptu2: I previously asked him if he was holding Mohammed Jammal responsible for racism, slavery, etc; he denied it. Now he is showing me videos of how Ethiopian women are being treated. What has that got to do with Mohammed Jamal

Then, he doesn't even know me, but he has decided that I "worship white people"!


Hahahahahahhahahhahahahahhahahahhaa!

The world is such a simple place for such people. Theyy don't have to think, just follow the rules

1) All Nigerians are 419ers. You don't have to know the person. Being Nigerian is enough.

2) All jews worship money.

3) All white people are evil racist. There's no need to get to know the person. No need to think. It's enough that he is white.

Let's see, what other bigotry lesson have I learnt on this thread? Ah yes

4) All Nigerians worship white people

5) Only igbo people work for money.


Smh!

Dont you find it odd that lebanese people can come to nigeria and move around freely , open up businesses and make humongous amount of money like the Chagoury family who are multi millionaires and nobody stands in their way, and yet black migrant workers in their country are denied entry into a place as as ordinary as a beach club?

if you watched the video you would have heard one of the proprietors sayign that he only allows black african migrant workers entry if they are coming in with their employers and even then they are not allowed to use the facilities- dont you find that stunning? and yet this so called white nigerian was treated like every one else in nigeria, allowed to go to school along with other nigerians, socialise and make money in nigeria, when in his own country blacks are treated like garbage.

I honestly beleive that you lack any sense of self respect and dignity because no black person with a brain cell in their head would not be outraged after watching that video.

you desperately need help in reevaluating your self worth.

[quote author=nnenna.1]I'd have to agree with cap28 on this one. Lebanese people on average tend to look down on their Nigerian counterparts based on my experience and the experiences of others I know plus what I have read here in Nairaland.

In contrast the average Nigerian is all too welcoming and tolerant of Lebanese and other (white-skinned) foreign immigrants.

I would have pegged this down this imbalance of regard between the two groups to Nigerian Christlike culture of love and accomodation -but I remember that this is a country where inter-tribal suspicion and unrest is the order of the day.

Yeah.....inferiority and superiority complexes at work.[/quote]always on point sis.

by the way take a look at those two videos i posted where they refused to allow an ethiopian girl into their beach club because in lebanon black africans are regarded as inferior, the only time they are allowed to interact with their own people is where they are cooking and cleaning for them.

and yet, this wanna be white man is treated like a king in nigeria by self hating ignorant nigerians.

naptu, ehie and all4naija this is how lebanese treat black africans in their country:


https://www.youtube.com/watch?v=R_Y6WU_zh9g

ehie: LOL Nut case,u said Lebanese do not marry Nigerians,and i said they do and they prefer slim girls,what is self hate there
i see anyone who is fat as sloppy,i have never dated anyone who is fat,and that is my preference..

I said GENERALLY they do not marry nigerians - there is a difference, the fact one lebanese man marries one black african woman once in a while does not mean that lebanese marry nigerian women regularly.

I can assure you that the reason they do not generally marry nigerians has nothing to do with body weight and everythign to do with race, you seem so desperate to be accepted by a race of people who do not like you - and yet you wonder why i describe you as suffering from self hate.

ehie: LOL Nut case,u said Lebanese do not marry Nigerians,and i said they do and they prefer slim girls,what is self hate there
i see anyone who is fat as sloppy,i have never dated anyone who is fat,and that is my preference..

I can assure you that the reason they do not generally marry nigerians has nothing to do with body weight and everythign to do with race, you seem so desperate to be accepted by a race of people who do not like you - and yet you wonder why i describe you as suffering from self hate.

naptu2: War torn Lebanon Some people need to study history. People who have been here for over a century!

You are stereotyping someone you don't even know. Filling in his personality with all sorts of negative things, even though you don't know him, holding him responsible for things he doesn't have anything to do with! Kai!

It's so bad that for the first time in my life I have to acknowledge and agree with All4naija, it's pointless arguing with you.

Piece of advice, hatred eats you from within and kills you. Take out the hatred in your heart and replace it with love. Goodbye.

You along with the all4naija and ehie have low self esteem and inferiority complex - you worship and idolise anyone whose skin is lighter than yours thats why you are prepared to give this wanna be white man the benefit of the doubt. They never give people who look like you and i the benefit of the doubt instead they assume the worst about us , they stereotype people who look like you and i all the time and they dont care that they are racist, but people like you continue to bow down before them and extend all kinds of courtesies towards them when they look at you as garbage - take a look at how they treated this ethiopian woman who tried to get into a beach club in their country, i wish you could spend a month in that country and then perhaps the scales will be lifted from your eyes:


https://www.youtube.com/watch?v=ko2vjU97Dtk

all4naija: Why do you have to wast your time replying to that black racist!

until you go back to school and get a proper education and learn what the term "racist" really means any conversation that i attempt to have with you will be a complete and utter waste of my time.

ehie: grew up in the north and Lebanese men date Nigerian women,i cannot count the people i know who have intermarried,however they prefer slim tall girls,not fat things .
Please stop coming here and telling ,"what is generally speaking"what do you have to back it up?

nigerian women like you are full of self hatred - your statement implies that most nigerian women are not good enough for lebanese men - the fact that you can not count the number of nigerian women who have married lebanese men does not change the fact that GENERALLY THEY DO NOT MARRY BLACKS PERIOD.

Also dating a woman and marrying her are two different things.

naptu2: Ok, so he is not in his own country at the moment? (Is Carl Lewis in his own country at the moment, or should he "go back to Africa"?)

You " doubt whether he would welcome the idea of a black man coming to live and prosper in his country".

Hm!

I dont understand how you can compare an african american whose ancestors were kidnapped and enslaved by europeans and transported across the atlantic ocean to north america to someone whose parents VOLUNTARILY left war torn lebanon in search of greener pastures in nigeria, Carl Lewis has more right to be in america than many european
yes i sincerely doubt that he would welcome the idea of a black man leaving his own country like his parents did to live and prosper in lebanon, lebanese people are parasites they feed off their host and contribute nothing - do you know of any poor lebanese people in nigeria?

naptu2: Assuming, for argument sake, that you are correct, therefore, Mohammed Jammal is guilty and responsible for the (assumed) fact that "black men cannot go to any arab country and become rich and successful" because of his ethnicity and the colour of his skin.

Smh.

never said he was guilty or responsible for anything - i just made an observation, besides if he were in his own country i doubt whether he would welcome the idea of a black man coming to live and prosper in his country .

naptu2: Prime example. You don't know the man, but you've already decided who he's going to marry, how he's going to behave, solely because of the colour of his skin and his ethnicity.

Smh.

i dont have to know him personally to understand how people from his area behave, generally speaking arabs do not marry blacks - you can take it or leave it but its the truth - they see themselves as being above blacks and identify themselves as white, therefore the likelihood of someone from such a background marrying a nigerian despite his ability to speak fluent hausa is very low.

by the way arabs hate blacks and look down on us - you will soon find out how "nigerian" this so called white nigerian really is when the time comes for him to get married, lets see if he will marry a black woman or a lebanese woman imported from his country.

arabs like him actually think they are white thats why he describes himself as a white nigerian - let him go to europe or america and call himself white and see what they will tell him.

Allohrandy: Instead of people in the forum encouraging him. most people are here criticizing him because he was classified as "white". how many of our Nigerians aboard will allow their kids to serve NYSC. I know of many Nigerian-Americans who don't even know anything about NYSC or dont have plans of serving this country but they have the Nigerian passport because their parents are Nigerians.. I think most people in this forum criticizing him are just f00lish or being jealous. does it matter if he is white or Arab. The fact is he choose to serve our fatherlands. we should commend him for that. We should stop this Nigerian mentality of always criticizing people for no good reason. To the 'white Nigerian corper' thanks for serving my country.

serve your country in which way? if anything nigeria has served him and his lebanese parents extremely well by providing them with an adopted home where they have been allowed to set up businesses that have enabled them to become rich and successful, do you think you can go to any arab country as a black man and be allowed to become rich and successful by the indigenous arabs?

nigerian society is becoming so decadent and immoral - now anything goes, transvestites, homos.exuals, transgenders are now becomign the order of the day in nigeria, where are we heading to with all of this decadence? who is pushing this negative agenda? it must surely backfire because it is alien to africa and its people, we need a revolution in nigeria so that all of this western imported junk can be wiped out of our system once and for all in order for us to build up from scratch and become a nation to be reckoned with.

africans are conditioned to love and worship the very people who have brought nothing but pain and misery into their lives - white people on the other hand have been conditioned to look down on black people - the id.iot who opened this thread needs to spend some time around white people then he will understand how much contempt these people have for african people.

nigerians will forever remain slaves of whitey - why is this a big deal, no white person celebrates anything you do but you celebrate when a white person goes to the toilet keep sucking on those white nuts hope you enjoy them - fools