₦airaland Forum

Ngenekwano,You are the biggest fool on naira land .If you doubt me,let's run a pool.

Ilorin is the home for Sabi Sabi fanatics.We need restructuring.They can them choose to copy either from Iran,Pakistan,Yemen or any other Culture approved by the Sultan and his his Cohorts who see nothing wrong in a Young Law Graduate who chose to fan hatred rather than protect the Constitution she study for over 6 years.

And another Tumsah will happen

https://www.informationng.com/tag/tijani-tumsah.Check,he was APC former Sec Gen.We have to support the Government on War against corruption.

I never see light today even for the highbrow Lekki?

I am happy .Thank you my Commissioner .Sai Baba

You are Boko Haram.We all know

I hope those in Kano,Kebbi,Sokotto will also be part of this Project.

Where is Abike Dabiri and Ministry of Foreign Affairs?How did we get here?

And they want more Tax next year.Where is Sarrki and Ngenekwano?

More people are already on their way during the Tenure of your Master

Lai Appointmenrt was the reason I gave up on APC

That Goat is masturbating

Where is Ngenewkwenu?

@Aonkuse,you are fool.Read :https://www.nairaland.com/4181293/buhari-osinbajo-spend-over-n2.5.

Facts are staring at you.

This Country can't move forward with people like you

Yes.He got the Contract to transport Pasengers during the Abuja Airport reconstruction

This Government lacks co-ordination.Did the IG get approval from the NSA who seeks security approval from the President before making such high profile decision ?

You won't see Sarrki and other brainwashed BMC here.If it's Diezanni or Mama Patience ,they will jump to highlight the fake anti corruption propaganda of this Govt.I gave up on this Govt after I saw the list of Ministers .Non of them can take us to the promise land .

I just came out from a Generator shop to buy a 20KVA Gen after my 8.7KVA fireman packed up yesterday.Mr.Noise maker Minister is a failure as he has no business being in power .In a sane Country,he would have resign after failing to keep it his widely circulated media propaganda .

Where is that Lunatic called Sarrki and his co BMC who were jumping around defending this statement yesterday ?

You pay thousand of Naira to download worthless music and Movies.Its an interlectual priopriety right and owner has the right to do with their content how it pleases them .

You spew all this trash just for N10k?

I remain Chairman of Presidential Panel — OBLA …Malami, Dambazau face Senate Committee this week AS the controversy surrounding the recall of wanted ex-chairman of the Presidential Task Team on Pension Reforms, Abdulrasheed Maina rages, the Presidency has directed Chairman of the Presidential Special Panel on the Recovery of Public Property, Chief Okoi Obono-Obla, to hands off activities of the panel. The Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami, SAN, in a statement, yesterday, said recent actions of Obono-Obla who is equally an aide to President Muhammadu Buhari on Prosecution, ran contrary to the enabling act that established the panel. Consequently, the AGF directed Obono-Obla to “henceforth desist from carrying out any operation in his capacity as head of the panel.” Obono-Obla was notified of the order to hands off the panel via a letter dated November 1, 2017, with file number HAGF/SH/2017/VOL/1/60, which was signed by the AGF. In the letter, Malami maintained that activities of the panel contravened established administrative procedures and protocols in the nation’s civil service structure.

Read more at: https://www.vanguardngr.com/2017/11/mainagate-latest-hands-off-shut-presidency-tells-obla-obono/

Read more at: https://www.vanguardngr.com/2017/11/mainagate-latest-hands-off-shut-presidency-tells-obla-obono/

Beefing Lekki,no where like Lekki.Get to work in 15 minutes and also get home in 30 minutes.Stayed in Mainland for Two years and almost died on 3rd Mainland Bridge with accumulated sleep .Had to wake up 5am and get home 11pm .The differences is clear.No scratch on my car after two years in Lekki.I pictched to my Friends who thought Mainland was better .They thank me everyday for coming across a friend like me after they moved to the Island for my advice .

After meeting PMB ,Toll gate tariff was increased .2019 campaign loading .Let me come and be going .

Please be informed that fees on withdrawals, deposits and transfers have been increased in line with CBN bank charges guideline. Call 07003000000 for enquiries.

The World Bank has disagreed with the Minister of Finance, Mrs. Kemi Adeosun, on the need for the Federal Government to borrow more in order to develop the nation’s infrastructure and stimulate the economy.

The World Bank spoke through its Senior Economist, Gloria Joseph-Raji, on Monday in Abuja, saying that the cost of borrowing or paying interest on Nigeria’s debt was not sustainable as revenues to make such payment had dried up.

She spoke with our correspondent on the sidelines of the lunch of Africa Pulse, a biannual report on Africa.

Adeosun said on Sunday at a press briefing rounding off the World Bank/International Monetary Fund annual meeting in Washington DC, United States that Nigerians would have to tolerate more borrowings in the short term for the government to deliver critical infrastructure.

But Joseph-Raji said that dwindling revenues had raised a concern both at the Federal Government and the World Bank on sustainability of Nigeria’s borrowings as debt-to-revenue ratio had increased by 25 per cent within a period of one year.

She said in 2015, the country’s debt to revenue ratio stood at 35 per cent but rose to 60 per cent by 2016, reflecting a reduction in government revenues and rising debt profile, thereby raising a question about the debt sustainability.

Joseph-Raji said, “Nigeria has a decent debt-to-GDP ratio, currently about 19 per cent. It is the debt to revenue ratio that is of concern and that rate is a sustainable issue. That is of concern to us and that is also of concern to the government.

“The government is aware that the debt is looking more unsustainable from the point of debt service to revenue ratio. The estimate we had for last year at the federal level was about 60 per cent. That is coming from about 35 per cent in 2015.

“That reflects the substantially lower revenues that Nigeria recorded last year. Even among the state governments; we know that a lot of state governments are servicing a lot of debts from their federation account allocation. So, there is really going to be a sustainable issue emerging.”

The World Bank expert said she was concerned about the sustainability of the country’s debt, especially the huge domestic borrowing with high interest rate, which prompted the Debt Management Office to come up with a strategy to rebalance the country’s debt portfolio.

She said, “The DMO released the Debt Management Strategy 2016 to 2019 last year. The strategy was to rebalance the debt portfolio from more of domestic now to more of foreign. That is because of the debt servicing cost.

“Before now we had a debt portfolio of about 80 per cent domestic to 20 per cent external. We know that the debt servicing cost of domestic debt is really high. Treasury bill is an average of 18 per cent; the FGN bonds, from 16 per cent. The government is trying to rebalance its portfolio with foreign debt, which has much lower interest rate than domestic debt. That is why this year you have seen them go for Eurobonds, with a total of $1.5bn in the first quarter of the year. They also did Diaspora bond of $300m. If you look at the yield on those bonds, they are much less than 10 per cent.

“The government is aware that there is a sustainable issue and that is what they are trying to correct by taking more foreign debt.”

Joseph-Raji said in the light of expenditure exceeding revenue, government should borrow, but it should borrow in a manner that was sustainable.

Also speaking on the issue in an interview with our correspondent, the Head of Abuja office of Social Action, a Non-Governmental Organisation active in debt relief advocacy, Mrs. Vivian Bellonwu-Okafor, said the government needed to think about better ways of managing the economy.

She said borrowing $3bn from abroad to refinance local debts was replacing one evil with another evil.

Bellonwu-Okafor said foreign borrowing would invariably lead to annual debt servicing in hard currency to foreign lenders.

She said, “The $3bn debt refinancing arrangement, as proposed by the Federal Government, does not solve the country’s rising debt problem; it merely trades one evil for another.

“Borrowing longer-term foreign loans to pay off maturing short-term domestic debt, instead of taking actual steps to gradually reduce and exit debt overhang, is a demonstration of poor economic management.

“Several developing countries have adopted far-reaching domestic strategies to mitigate the effects of international market shocks and global financial crisis. While countries like Malaysia are increasing internal investments to develop their economies and make them as independent and vibrant as possible, rather than shrink deeper into global financial waters, Nigeria seems to be doing quite the opposite; preparing frameworks and opportunities for more foreign exchange and capital flight from the country in annual debt servicing.”

In another telephone interview with our correspondent, a financial expert and associate professor, and Head of the Department of Banking and Finance, Nasarawa State University, Dr. Uche Uwalaka, said there was no doubt that Nigeria’s debt to revenue ratio was high.

According to him, the use of the index is a better way to measure a country’s capacity to pay debt and interest.

Although he said that the country hardly had any better option than to borrow, he insisted that debts should be tied to projects that were self-liquidating.

He said, “There is no doubt that the country’s debt burden is high going by the debt to revenue ratio. There are other measures of the debt burden such as the debt-to-GDP ratio, which is currently around 18 to 19 per cent.

“External debts are cheaper to service especially when they come from multilateral sources. The attention of government has shifted to foreign debt. I am in support of government’s plan to borrow $3bn to refinance some local debts. What is important is that the National Assembly and other agencies should focus on is the monitoring of what we do with foreign loans. This is because foreign loans also have their own risks such as shock in exchange rates.”

Uwalaka said other options to borrowing such as sale of national assets, increase in taxes and printing of money were not viable in the present circumstances of the country.

Sorry about this.If your husband resides in Isreal Legally ,All you need to do was visit the Embassy in Abuja and Apply for Visa .He will need to attached some Proof that your Husband resides in Isreal.They are strict but with all the required document ,you are guarantee Visa

Tincan Cleared .Duty fully paid

More Pictures.Deal of the Year

Sorry,C250

Tokunbo Benz C250 2014 for sale at N9 million .

Call 08037439072