₦airaland Forum

modsfucker:
Is that the diversification they've been talking about? It's ok... Giving a farmer less than a million naira loan and you think that can make a difference.... Who told you that they don't have that amount in their pockets?

NoreenUG:
http://www.bloomberg.com/news/articles/2016-09-08/nigeria-s-presidency-approves-borrowing-from-world-bank-china


So, after all of Buhari's stubborn theatrics of We-will-never-submit -to-world-bank-and-IMF, he finally falls on his knees and approves borrowing from World Bank.


The man has been totally demystified!

Please mods (Dominique, Lalasticlala), help me edit my post and add in the full article. I'm on a crappy mobile phone, and character limit is killing me here.
Thanks.

sinkhole:
This must be a wrong news, perhaps they meant Niger Republic and not Federal Republic of Nigeria, because there is a very huge untapped bitumen deposit in Ondo, so why importing? But again, there was a time Nigerian government wanted to import GRASS! Crazy things do happen in Nigeria

Basildvalour:
When will this so called refineries begin to work?

Amya:
Okay, so if oil provides 70% of government funds, then are you saying that FIRS, Customs and all internally generated revenue provide just 30%. Do your research. When they talk 70%, they talk of Nigerian export. don't confuse yourself. And to talk of the government being unable to pay salaries, read the thread title again. The present economic woes is much bigger than oil.

Amya:
No, oil supplies 70% of Nigeria's foreign exchange not government revenue. There are numerous other sources of government revenue but it's all in small bits and percentages. Oil as a single source at 13% is still quite a lot.

rusher14:
Thats not possible.
Jonathan completed all federal roads.
In fact, he extended his services to Cameroon.

goshen26:
Idontbilivit! Until I see people fetching water from d said project. U kno this administration na, they can ..................

Amya:
You do know that our crude oil only raises about 13% of the country's revenue right? just 13%. So even if the crude oil market collapses, the economy should still survive.

Let me break it down for you. The other 87% is sourced from FIRS, Customs, and 100s of other government bodies that have charges for every conceivable thing. Now, this 87% amounts to trillions of Naria which before the enactment of the TSA were monies paid to different banks everyday. Though these monies are technically government money, they were liquid and banks used them to transact businesses give out loans and make money circulate in general. Now with the emergence of TSA, these monies are just packed somewhere and therefore does not benefit the economy business wise. And we are talking trillions here.

So yes, the TSA can and did lead the country to recession.

goldman777:
He is very right on dis one even though i detest dis guy and his pdp thugs(tan) guy he understands keynesian economics which is what nigeria needs to do.spend out of recession and scrap tsa

pafosmith10:
I would advice you watch "God's not dead 1 n 2". Should give you all the belief you need.

pafosmith10:
I would advice you watch "God's not dead 1 n 2". Should give you all the belief you need.

mrvitalis:
No real investors will want to take money out of Nigeria... those people who do that are mostly foreigners who just want to rip off Nigeria

victorazy:
Yet he never ceased to be ur father. He has his reason too. Some mothers have way of poisoning our minds towards our father but someone like me has COMMON SENSE.

For ur info. I've never been with my father since 3yrs (was told by my grand mother who trained me) but iam looking forward to hug him any day no matter how he treated me.


Continue to show him how matured and civil u r now, don't let the selfish interest or influence of ur mother deter you.

I learned something from American singer Nelly and I know u know him too
His father never cared about him and his siter, he suffered to survive yet he looked for his wayward father and brought him back.

"Denying ur father is like denying ur creator.
Denying ur child is like denying ur existence"

PHIPEX:
No sir, we are in a recession because we have a govt that does not know what to do to stimulate growth. The current price of crude is same to what it sold when Yaradua was in power and to counter the effect of drop in price Yaradua made peace with Militants in order to increase volume of sale. But King Buhari chose to war with militants thus losing both the price and volume.
What is the relationship between low price of crude and high price of GarrI and rice? The gov't is confused simple.

PHIPEX:
So we lost our economy in pursuit of #70billion?This govt wrecked our economy in the name of fighting corruption yet what we can boast of is this paltry figures that can't pay one month salary. Our stock exchange alone lost far more than this figure.

Penny wise pound foolish gov't. By the time you are done, economy would have backtracked to where Abacha left us. Every time a northerner is in power our growth suffers.

Emusan:
Let's take a look at it this way:

APC:- PDP has destroyed this country by looted the treasury dry.

APC:- The recovery money isn't enough to revive the economy.

This means the money looted by PDP are in real sense not up to those medal figures

Nicolax:
The only one I agree with is if a guy watches telemundo. Only gays do that