₦airaland Forum

Kikero112:
We are broke.

Fact is, when you live in a resource dependent economy, once prices of the resource you are selling drop....it becomes difficult to finance your budgets.

Even in the budget released this year...they have announced that there is going to be some borrowing.

Now,PDP opponents like me would be like ''If only GEJ had saved our money, we won't be in this soup''. But the fact is....even if we had saved all the money from 2007-date....we would still be in trouble. To use an example.....in 2014...Saudi had $724BN at the beginning of the oil price drop. By the end of 2015....that had dropped to $600bn. That's 124bn US dollars gone....and not on looting, on economic exegiences. (In Nigeria....assuming we had saved...we might have been able to get just $100bn. That looks like peanuts compared to them Saudis.).

So...the big elephant in the room is our resource dependency. And.....GEJ your hero did nothing about it, and made things worse by the mass looting. And APC too better be serious....and not join in the looting. But I am not optimistic. Nigerians generally prefer looters to serious leaders. A serious leader would have removed alll the subsides, brought in austerity to the max, ended corruption, and spent money getting our power up to 20000MW in five years. But no Nigerian politician is willing to do that....neither are the Nigerian people. Nigerians love to eat, not to work. But I digress....slightly.

All in all, we are not a rich nation. We are poor. And we are in deep trouble because of the falling oil price, and because of our refusal to develop an economy based on innovation. You people praise GEJ for improving our economy...when in reality he built a house on the sand of resource dependency. And APCites are just as much the same. Yes....APCites talk rightly about fighting corruption and yes.....we must prosecute the people who stole our money. But, we also have to run an austerity government if we want to get out of this mess...and while the new budget gives me hope in education and health....elsewhere, not too good.

But all in all....we are not a rich country. And your defence of corrupt people because they are of your party is wrong.We have to face the fact that corruption is a serious problem in this country, drop the lie that it is all a witchhunt....a lie which has been present since independence....and which has been used by generations of corrupt leaders to escape prosecution. We did not send PDP to steal We sent them to develop our country. And APC too is on notice....develop our country....or out you go next election.

If you like argue from now to 3098, the fact is that the IMF has turned down their loan application. So now, no loan, no cash, no salaries, no 5k mediocre payment, no settlement forJagaban(oshodi market score settling), no bonus package for APC e-media touts. That is the fact. It's about to get really cold for the government.

I have consistently said on this forum, that Fashola will rot in jail, while Amaechi will hang from a tree. The President will also spend the rest of his miserable life in the Hague. As for the traders of the Oshodi electronics market, they can be rest assured that their loss will be avenged. Ambode will pay dearly with his.....................

This ignoble foolhardy plan by the FG, is due to the President's belief that his enemies are behind the Fuel scarcity. But the major catalyst is the opposition's hand in ruining the hidden loan application by the government, from the IMF. Yesterday, the IMF chief put the final nail in the coffin on the loan application. Now the President has no choice but to review his outlandish budget. The loan was meant to finance the budget and settle some influential Nigerians in the APC. Due to this burst bubble, the President is now breathing fire and brimstone on those who he believes leaked his illicit motives to top media hotshots, who were able to blackmail the IMF into dropping the FG's application. I pity the President and his party, because they are in hot soup.

The President and his party came up with the "broke" jingle as a means to convince the IMF to finance their ludicrous, extravagant white elephant projects this year. Remember PTF, and the refineries built in the eighties. The President is a master of corruption and money laundering. This is always his gimmick. But unfortunately for him, his plans were leaked to the opposition and some influential elements in our society. This led to a secret meeting in Stockholm, between some Nigerians, some top western media hotshots and some members of the IMF. In this meeting, the plans of the President backed by verifiable documents and files was laid bare to the foreign attendants of this meeting. Consequently, the truth was made known to the IMF chief, who immediately canceled the discreet and hidden loan application by our government. This is the reason for the EFCC clampdown on the government's perceived enemies, under the guise of corruption. Also the review of the fictitious budget, was brought about by this. We are in trouble.

The damage and punches the PDP is dealing to the APC government is more deadly than a snake's venom. Why do you think the FG is ordering their arrest day after day. The Fuel scarcity you are currently enjoying, who do you think is driving it. By July, the PDP will give Mr President, the final knockout blow.

amaechi1:
Your topic should have been "Buhari dumped IMF and Obama". From the press conference, IMF MD made it clear she is not here to discuss programmes and loan. Further, she agree that Nigeria can pool through from her present predicament. So, what is quams?

lagarde said" She doesn't see any reason why Nigeria should apply for any loan". That was a clear message to the President, that his loan application had been reviewed and denied. She then went on, to give her reasons for refusing the President's loan application. If you work in a bank and understand bank terminologies and language, you will understand.

jaybee3:
Don't you people reason for crying out loud?

Let's assume for a second that it's actually fun and self amusing to be pulling out conjectures from your anus, Slowly but surely that butt will get blown someday, no?

Just slap yourself already


Even Greece with worse credit rating than Naija and no resources to rely on for paying back loans still managed to secure some for their long suffering citizens

#Next abeg!

After a lot of bargaining and a Mexican standoff, Greece was able to secure a loan from the World Bank and the ECB, but on favourable terms. The diffrence is that Greece made their intentions known to the public, and so won a lot of public support, which helped weaken the noose by the ECB, around its neck. We on the other hand tried to secretly bypass, laid down processes and procedures, and ended up with an outright rejection by our so called allies

A corrupt democratic government that practices the tenets of democracy, will end up stealing money
A tyrannical and Machiavellian dictatorial regime, will end up stealing money, lives and dreams.

While everyone is more concerned with the distractions and theatrics of the APC to parry our attention from their inability to solve the fuel crisis, the nation's economic fortunes took a nose dive today with the rejection of discreet loan arrangements by the Nigerian government with the IMF.
Today, the IMF chief amid fake smiles and laughter, put the final nail in the coffin of Buhari's attempts to finance his Budget with a loan package of 5billion naira a day from the IMF. She explained that, since the government had shown good managerial and financial qualities, there would be no need for the IMF to finance the nation's economy with a loan. This is why the president had already ordered a total overhaul of the budget's structure, under the guise of listening to Nigerians on the high cost of the budget. News had filtered to the President that the IMF after reviewing the loan arrangement, had decided to strike it out on account of it not being viable and reasonable.
So Nigerians should prepare for the worst, because the IMF has finally abandoned the President.

http://www.punchng.com/nigeria-needs-no-imf-loan-says-ladarge/

Note: The article I cited does not cover the aforementioned writeup, which contains information leaked by an undisclosed source within the Villa

Is Nairaland not aware of the presence of the IMF's chief, Christiane Lagarde in Nigeria. She arrived Nigeria, and was received by the finance minister Kemi Adeosun. She is expected to meet with the President, the Senate president and speaker and also to meet with captains of industry and major stakeholders.
http://www.premiumtimesng.com/business/196213-imf-boss-lagarde-arrives-nigeria-for-talks-with-buhari.html

They should not comply to any strongarm TSA Tinubu manufactured ponzi scheme. The NASS is an independent branch of the government, not a division of the executive. We are not in a military regime. NOONE has to adjust to the executive's demands, just because the President is throwing a hissy fit. The smart thing the President could have done is to ask the house to vote on it, instead of going on national television to show he is nothing but a coward.

The accounts for the petitions for and against his resignation are by the same set of bast@rds. It is just a cheap publicity stunt to show his supposed popularity. When we want to sack him, no force on this earth will be able to stop us, certainly not baseless signatures.

Lies, most fuel stations from Berger down to Apapa are either closed due to absence of the product or selling at 115-120 naira per litre. The marketers have vehemently rejected the new mirage adopted price. It is only in your house that Conoil is selling fuel at 85 naira.

May the heavens be praised

Now that the kitchen has become too hot, you now want to deny it's not your kettle that is on the cooker. Elrufai admit your stup1dity and confess your ret@rd@tion. Ediot

bettercreature:
And what is bad in borrowing 5billion naira daily if he is ready to make good use of it

Please elucidate on your illiterate idea

The best thing we can do for our nation, is to storm ASO rock and kill every last APC ediot alive. If we fail to do this, then we have failed our children and grandchildren, because the desperation of the buffoon in that villa will end up killing us all. Now is the time to act
#MURDERTHEGOVERNMENT

If you don't know Kachukwu's game by now, then you are really stup1d. If you have been following up on his actions and speeches, you will know that, he always tries to embarrass the President by releasing a mirage to the public, which when discarded or denied by the government, puts them in bad light. He also wants to force the government into allowing his proposed subsidy removal policy. So if you believe we will DUBAILISE our pipelines, then you are simply a MUMU

Jonathan and those who support him are all fantasist

I rather be a GEJ fantasist than a Buhari bast@rd. With all the unintelligent lies you told here, you are truly a coward with no foundation.

Let me tell you a hidden secret. There is a undisclosed PRESIDENTIAL CODE OF CONDUCT. No successor jails or attempts to assassinate his predecessors, no matter what. They have been some that broke that code, and for that, WE either murdered or roughed up their administration, depending on the gravity of their crime. If BUHARI attempts to incarcerate his predecessor, then we will put a bullet between his forehead.

Garba Shehu and the useless government better shut their dirty mouth, and focus on governance and government functions, like management of resources. Its day 63 of the never ending scarcity, and we are yet to get relief from its severity. Instead of addressing Nigerians on progress made so far, the President is online trying to start a B**TCH Twitter war. Don't worry Mr Nikki Minaj, we've got your back, pls continue

Answer: She is a managerial maestro. Some have it, some don't.


Kemi Adeosun will never be able to compete. Her name will become synonymous with hunger and death. May God have mercy on her wretched soul

The OP is a disgrace and curse to humanity

#Rubbish. Godwilling, this woman will pay with her Life

I feel.tremendous pity for the bast@rd that opened this thread

Very stup1d reply. Hunger has not dealt with her before. Next year, all the petroleum dollars are bast@rd father has stolen in his Fulani position, will turn to sand, in the mist of lack.

We will be vindicated in 2016. The hunger and suffering in 2016 will be of biblical proportions. Nigerians get ready to SUFFFFER

Two of the ugliest monkeys alive.

The scarcity will continue until the President resigns

Stup1dity of the millennium