₦airaland Forum

The Federal Government has said it was looking the way of the International Monetary Fund, IMF, and the World Bank for some of its external borrowings to boost the economy out of recession.

This came as the Debt Management Office, DMO, said, yesterday, it had raised the N1.18 trillion, which is the domestic component of the 2016 budgeted borrowing.

According to the government, both institutions have some “concessionary terms” attached to borrowing packages.

A statement signed by Media Adviser to the Minister of Budget and National Planning, James Akpandem, quoted the Minister, Senator Udo Udoma, as stating this at a meeting with the Assistant Secretary for Multilateral Affairs of the Trade and Policy Department at the French Treasury, Mr Guillaume Chabert, in Abuja.
Udoma re-emphasised that Nigeria’s borrowings were solely to fund infrastructure projects, adding that “the stimulative effect of investing in infrastructure was enormous and was the surest way of setting the country on the path of growth and sustainable development.”


The minister told the Assistant Secretary, who was accompanied by the French Ambassador to Nigeria, Mr Denys Gauer, that the Federal Government is working on a National Economic Recovery and Growth Plan, which is tailored to move the country’s economy out of recession and set it on a growth path.
“Our plan is that we should be able, within that plan period (2017– 2020), to achieve not less than 7% growth.
Plugging leakages
“For one to get out of economic recession, we will need to harness resources by plugging revenue leakages and by looking at new revenue sources in order to generate the resources required to spend our way out of recession, particularly focused on infrastructure,” he added.
The minister explained that while government was exploring other means of generating revenue internally, “we will need to borrow, part of which has to be sourced internationally from sources that can give concessionary terms, like the International Monetary Fund, IMF, and World Bank.
“We know we need to look at upgrading our oil revenue in order to generate the resources to spend our way out of dependence on oil; which means we have to focus our attention on reducing the disruptions in the Niger Delta, so that we can get our production back to a minimum of 2.2 million barrels per day. That is the fastest way to generate resources.”
He pointed out that government alone could not do it, saying that was the reason government emphasised on creation of an enabling environment for effective private sector participation in growing the economy.
He said the government was also going into partnership with the private sector in critical areas of infrastructural provision and concessioning.
He said: “Our intention is to make the private sector to lead the way in social housing. We will kick-start the process and intend to make some provision for it in the 2017 Budget. Then we are also looking at manufacturing.

‘’One of the ways is by developing export processing zones where we will have all the required infrastructure including power, rail and security, to encourage manufacturers to relocate to Nigeria.
“We want to make sure that the growth will be an inclusive one. In the past, we used to have growth that was not inclusive. We were growing but poverty was increasing. We want to make sure that the growth is inclusive. One of the ways is to give preference to labour intensive activities to create jobs, which is the fastest way to reduce poverty. In addition to that, we will continue with our social intervention projects.”
The Assistant Secretary, Mr Chabert, while appreciating the economic challenges the country was currently facing, said the French government would be willing to support Nigeria surmount the challenges.
“It is in our interest that Nigeria succeeds,’’ Chabert said, promising to make some input into the country’s economic plan once the framework was made available.

Meanwhile, the Debt Management Office (DMO) has raised the N1.18 trillion which is the domestic component of the 2016 budgeted borrowing.
Director-General of the DMO, Dr Abraham Nwankwo, disclosed this while receiving some senators on oversight visit to his office in Abuja yesterday.
He said that the balance of N635 billion in the 2016 borrowing plan would come from the African Development Bank, AfDB, which had pledged $1 billion out of which $600 million had been released, as well as other sources.
Nwankwo admitted that in spite of the effort of the federal government to secure the rest, it was having challenges in that regard.
He said government “can fall back on domestic borrowing”, adding that the “DMO is working to see that the $1 billion Eurobond is mobilised by second quarter of 2017.”

The federal government, he said, had been servicing its debt as at when due and that it had paid N1. 09 trillion of the debt service obligation for the year.
“Nigeria is in a very strong position to service its debts because of our debt sustainability analysis which ensures that we make sure we do not go beyond the threshold of borrowing and to avoid unsustainable debt. We will build a sustainable economy in the next 3-5 years.

“The $30 billion loan will be borrowed over a three year period not at once. Drawdown of the loan will be done based on the progress of the work and it is essentially for infrastructure because we don’t have revenue at hand to provide infrastructure.”
The Chairman, Senate Committee on Local and Foreign Debts, Sen. Shehu Sani, who led the team, charged the DMO to be effective in the management of the nation’s debt.

According to him, the legislature “will henceforth pay attention to the agreement on terms and conditions for loans obtained by government to forestall a situation where Nigerians are unnecessarily shortchanged. “A casual observation of construction sites of projects funded from EXIM Bank of China reveals that only foreigners are the engineers, architects and other professionals. Nigerians are only engaged as unskilled workers. This situation is unacceptable. Such agreement must be in tandem with our laws and should serve our collective interest ultimately.”

herzern:
You are a mystery.

I dont seem to understand yhu.

Some of your posts are funny
Some are weird
Some are very awkard
Some are insensible
Some are laudable
Some are inspirinq


The list is endless.You are encompassed in different attributes....I envy your character.

Keep it up.

naijaboiy:

naijaboiy:
Yes it's rape. The stüpid law gave these girls the right to end the sex even after it has started. So if you continue after she had said you should stop then it's rape.

Fuckèd up law!

Fabulocity:
First of all, the closet gay men aren't hiding their sexuality because of the 14 years bullshit. They've been hiding it since, even before the bullshit law came into recognition. Like I said, this is owed to the type of society we're brought up in where such acts are considered a taboo.
Secondly, you keep mentioning social ethics and whatnot, like is that supposed to change anything? Are murder, stealing, rapé, pedophilia and other social vices not against our social ethics and norms? Do people still not engage in these acts despite the fact that they're against every rules and conventions? And the truth is, these vices would never stop occurring.

And I reiterate, who a full grown adult decides to fuçk is honestly nobody's business. The world has too many issues for us to focus on the depravity of homosexual acts. Let's focus all that energy on something positive and watch the work be a better place.

Fabulocity:
You don't know anything. Nigeria is full of DL gay men who would rather die than admit their sexual preference. And they're the ones that usually condemn anything gay the most , usually in a bid to douse their own homosexuality . It's not "illogical", it's perfectly normal and understandable, considering the type of society we're brought up in.
There's nothing natural about homosexuality, I agree but who a full grown adult decides to fuçk should be nobody's business.

prettyAdaolisa:
[b]name~Adaolisa

Age~gals hate telling off their age uno

Occupation~student

Are you single, dating or married ~all of the above

Those u like on Romance Section~laveda,mcbrooklyne,smellymouth,queensuccubus,makydebbie,mimzyy,Lezz,jeffryjamez,Kingrex,Onstelly,

Those u dislike on Romance section~nil

Those u find annoying~jesusboiy,

Those u can't help but read their posts(u look forward to what they have to say)~dominique...

Those you follow and wish follows you back~nil

Why do you follow the people you follow~cos they followed me...

NLer that has sent u the most PMs~seun

How many PMs do you get on average in a day.~dont count..

Romancelander(s) that u ignore or try hard to avoid quoting~firstking01

Which Romancelander is fake.~falconey

Romancelander(s) you would have a one night stand with if given the chance but won't date~lalasticlala cc berlyn

Romancelander you can date or have a crush on~nil

why did u choose him/her above?? (what attracted you to him/her)~

Your favorite Romancelander(s)~smellymouth,mimzy,
Makydebbie,itspuffpuff...
Your favorite mod~mynd44

Funniest Romancelander(s)~mrcork,adaksbullet,fairlyusedpant...

Romancelander/NLer with the best threads~explorer

Romancelander(s) diary you stalk~ haven't been there for ages..

Romancelander(s) you used to get along with, but don't anymore. Reason(s) why?~naijaboiy,sandoski(miss u hun ),obtbully,erniesmallz...tosyn2much, kinginvahala

Which Nairalander(s) has a personality that suits/ quite similar to yours. ~nil

NLer(s) u would love to give a dirty slap to in real life~ ireneony(u are damn to open gal!)

NLer(s) you would go second and first base with(one whom you can move from just talking to maybe a kiss, sex or date).~nil

NLer(S) you keep as a friend offline or you've met in real life~onstelly love

NLer(S) you consider smart~diddydiva

NL member that tries too hard.~sexkillz

NLer(s) you find intriguing~mekydebbie

What phrases, insults, styles have you learnt from another NLer~

Which NLer(s) did u learn the above from

Who do u often disagree with on Romance Section~none

Romancelander that you secretly wish you can both get to know each other.~ a secret,don't wanna spill it out

Who do u often agree with~nil

Who do u consider sexy (opposite sex)~niiiiiiiil!

Who do u consider ugly(opposite sex)~niiil

Who is Romance section Mr/Ms. nice guy~stfuareuGod,berlyn...

Who is Romance section Mr/Ms Mean guy/girl(one who takes things too serious).~itspuffpuff

Who is Romance section Mr/Ms. douchebag~airforce1 [/b]

Fabulocity:
Obviously, you didn't understand my comment.
Most of you out there barking out obscenities at gay people and displaying the usual macho homophobic tendencies are in real fact, secretly gay or bisexual or bicurious or whatever .
And I'm not advocating homosexuality, neither do I condemn homosexuals. There are too many things wrong with this world to focus hate an anger on gay people.

KINGinVAHALA:
heheheehehe, I they tell you bro, too many Judas, but, the good thing right now is that every trusted allies has been put in diff locations, so info comes in plenty, even when these Judas least expect.

How far na?

Fabulocity:
Don't mind Nigerians, fücking hypocrites. And most of them that insult and attack gay people the most are down low gay. Fact!

KINGinVAHALA:
Wetin they worry you na? na me you they use pix they illustrate for? or make a whole king like me they fear? Abeg nor let me vex this night o, you know me so well say my blood they quick hot. Or you think I nor they aware of all the fvcking politics you tried to play behind the scene just to make and bring you top?

Oga, you know me so well, I have so many trusted nairaland allies, nothing make anybody they try to plan against me as far nairalanders they involve make I nor go know.


VOTE FOR ME AS THE LEADER AND LETS MAKE GODWIN AN ORDINARY MEMBER IN THE GROUP

This is your word to some of them, or have you forgotten?
A KING doesn't give a traitor a second chance, that's what played out, live with it or die with it!

kingsman66:
show me a man who don't fear and I will send you 200 airtime

Diddyydiva:
Ah don land..

Oath: Whatever answers I give here are nothing but the truth from the bottom of my heart. ..... May God help me




Name~~~~~~ Dolapo

Age~~~~~~~~ 2

Occupation~~~~~~ Student / Entrepreneur

Are you single, dating or married ~~~ Single

Those u like on Romance Section~~~~~ Too numerous to mention... The LOMs , The privy council, Twaci, Queensuccubus,Sinz,Maxi112,Calabardick, Biafranbushboy, Presh900, Obithebully CentaurXx , Enybliss,and all my followers

Those u dislike on Romance section: I don't dislike people

Those u find annoying~~~~ Sweetjude/Judefcc

Those u can't help but read their posts(u look forward to what they have to say)... Sexkillz, Bbmpin, Thesonofmark, Xiandat, Enybliss( I love her spoon of trouble) Sinz, Trapqueen77 etc

Those you follow and wish follows you back~~~ Xiandat

Why do you follow the people you follow~~~~ They worth following

NLer that has sent u the most PMs~~~~ one mumu Aashewoboy

How many PMs do you get in a day. ~~~~~ At least two

Romancelander(s) that u ignore or try hard to avoid quoting~~~~~~ Falconey( his day of reckoning is yet to come)

Which Romancelander is fake.~~~~~ Hadez/darkmarky/Agapehate/Ohbo ( like seriously)

Romancelander(s) you would have a one night stand with if given the chance but won't date~~~~~~I don't do one night stand

Romancelander you can date or have a crush on~~~~~~~~~ Sexkillz

why did u choose him/her above?? (what attracted you to him/her)~~~~~~~ His personality

Your favorite Romancelander(s)~~~~~ Twaci, Laveda, Sinz, Maxi112 , Enybliss, Mzlarem,Emperorkross, and many more

Your favorite mod~~~~~ Mynd44 ( he's a big snub tho And thank God he knows that)

Funniest Romancelander(s)~~~~~Mrcork

Romancelander/NLer with the best threads~~~~~~ Nairalandss, Explorer,Twaci

Romancelander(s) diary you stalk~~~~ None

Romancelander(s) you used to get along with, but don't anymore. Reason(s) why?~~~~~ He knows himself. He is a snake

Which Nairalander(s) has a personality that suits/ quite similar to yours. ~~~~~ Enybliss

NLer(s) u would love to give a dirty slap to in real life~~~~~~ Sweetorgasm for making empty threats and Judefcc. ( since am not a violent person ama arrange their slaps )

NLer(s) you would go second and first base with(one whom you can move from just talking to maybe a kiss, sex or date).~~~~~ Harrysexy

NLer(S) you keep as a friend offline or you've met in real life~~~~~~ Those I keep offline...Twaci, Bushboy, Maxi, Sinz, Lavvy,etc

NLer(S) you consider smart~~~~~ Thesonofmark, Twaci, Sinz, Xadiant, Sexkillz,Darkrebel, etc

NL member that tries too hard.~~~~~ Hadez, Mcbrooklyn ( has anyone noticed how he quotes everyone just to be relevant. Dicklicking to asslicking.. Things people do for recognition tho )

NLer(s) you find intriguing~~~~~ Makydebbie, Swann, Sexkillz, Bbmpin( why is he grumpy) , Tsom, etc

What phrases, insults, styles have you learnt from another NLer....... Your warped mind

Which NLer(s) did u learn the above from~~~~ Naijaboy

Who do u often disagree with on Romance Section~~~~~ Judefcc

Romancelander that you secretly wish you can both get to know each other.~~~~~ Enybliss, Makydebbie, Bbmpin

Who do u often agree with~~~~~ Twaci

Who do u consider sexy (opposite sex)~~~~~ harrysexy

Who do u consider ugly(opposite sex)~~~~ Falconey.. Damn it !!! Not even a mother could love that face

Who is Romance section Mr/Ms. nice guy ~~~~~ Stfuareyougod , Twaci

Who is Romance section Mr/Ms Mean guy/girl(one who takes things too serious).~~~~~ Bbmpin , Ishilove

Who is Romance section Mr/Ms. douchebag~~~~ judefcc.





SIGNED:Mzmayd

tosyne2much:
Abi jawe baba

Moz22:
I never take this online dating seriously...doesn't look real to me..

Borbrisky:
I met Bae online and today we are deeply in love

Mimido2:
when a chick starts going bad beg her