₦airaland Forum

https://www.youtube.com/watch?v=6opF3bBRZZU

Borrowing for recurrent expenditure foolish, says Obasanjo

Former President of Nigeria, Olusegun Obasanjo, has frowned at the way the Federal Government is taking loans. According to the ex-president, borrowing for recurrent expenditure is ‘foolish’.

In a video interview posted on Channel’s Television Facebook page, Obasanjo said that borrowing and accumulating debt for the next generations to come is criminal.

He said, “If you want to build a commercial house and you go and borrow money, and you have 50 per cent of your own money and you borrow 50 per cent and in five years, you pay the 50 per cent that you borrowed. That is a wise thing to do. But if you have to go and borrow money for you to be able to feed yourself and your family, that is a stupid thing to do.

“So, if we are borrowing for recurrent expenditure, it is the height of foolery. If we are borrowing for development that can pay itself, that is understandable; then how long will it pay itself? But we are borrowing and accumulating debt for the next generation and the next generation after them, it is criminal, to put it mildly. What are we borrowing for?

“When I came into government and was elected President, we were spending $3.5bn to service debt, and even with that, our quantum of debt was not going down.”

The administration of the President, Major General Muhammadu Buhari (retd.), has borrowed a total of N21tn within six years.

https://www.google.com/amp/s/punchng.com/borrowing-for-recurrent-expenditure-foolish-says-obasanjo/%3famp

E reach to ask oh.
What are we borrowing for??

[img]https://media1./images/50d089a0f9900949b83152346f77ee00/tenor.gif?itemid=21204532[/img]

Bubu is an almajiri. A borrow borrow bororo.

Asking him why he is borrowing/begging is like asking fishes why they swim.

One day we will all leave Naija for Buhari and his bandwagons to pay this debts

donjahsy:
One day we will all leave Naija for Buhari and his bandwagons to pay this debts

Amin

Father please, remember this country NIGERIA and help the next generation

When Obasanjo was President, he sold like 400 assets, made so much money from oil and left $104b for his two boys. The clueless one of Otueke blew all the money left for him and even took loans.


Buhari had no reserves to blow, hasn't sell any asset, oil has fallen by more than 50% on the average, there was Niger Delta avengers and now COVID 19 World economic downturn. If he doesn't borrow money, where will he get fund to run the government and build infrastructure?

BUHARINOMICS IS BOKONOMICS.

Una never see anything

galaxylauncher:

https://www.youtube.com/watch?v=6opF3bBRZZU

https://www.instagram.com/tv/CUBDuwVoR8j/?utm_medium=copy_link

Lalasticlala

Obj good job

Sirjamo:
When Obasanjo was President, he sold like 400 assets, made so much money from oil and left $104b for his two boys. The clueless one of Otueke blew all the money left for him and even took loans.


Buhari had no reserves to blow, hasn't sell any asset, oil has fallen by more than 50% on the average, there was Niger Delta avengers and now COVID 19 World economic downturn. If he doesn't borrow money, where will he get fund to run the government and build infrastructure?

This one is lost, there is no redemption on sight.

bishop4life:
This one is lost, there is no redemption on sight.

That's because you're empty upstairs, there's nothing in that football you carry on your neck.

Sirjamo:
That's because you're empty upstairs, there's nothing in that football you carry on your neck.

I think you are referring to yourself. Read your previous comment again. People dey this life

Smithkafors:
I think you are referring to yourself. Read your previous comment again. People dey this life

Where did I lie my comment?

Anything that doesn't fit your biased and hate fill sentiments is rubbish to you.

The aim of Buhari's Fulani junta is to render Nigeria incapable of defending herself when they strike in 2023.

...............................................................................................
1. They have already purchased arms & ammunition & handed them over to their militia arm (Boko Haram)

2. They have purchased fighter jets & tankers & handed them over to their militia arm (Boko Haram)

3. They have crippled the Naira so Nigeria has no purchasing power during the war

4. They have taken so much loans that Nigeria cannot borrow to save itself during the war

5. They are actively crippling every young southern business/startup out there so that they cannot fund Nigeria like they did during the EndSARS protest


By 2025, Northern Nigeria will invade Southern Nigeria & impose Sharia. Many Southern Nigerians will flee to neighbouring countries.

If you cannot see this, then you are living in denial.

Waiting for adesina

Hh

Just watch as the zombies will flood this thread to lay curses and abuses on OBJ.
The truth is that Baba Daura has already borrowed the future away.

Expect zombies to question obasanjo for questioning their Lord and saviour

I Sha know that the next administration must jail Buhari immediately after the 2023 elections. He has mortgaged the future of the unborn children of Nigerians

NwaNimo1:
[img]https://media1./images/8449c89b2a5a67af4d98b99a8e403eee/tenor.gif?itemid=21379361[/img]

You will never reach the level of NwaAmaikpe with your useless gifs. Why dont you post something constructive for once?

We know more borrowing is coming.

Buhari is a curse

We need answers faa

The administration of the President, Major General Muhammadu Buhari (retd.), has borrowed a total of N21tn within six years.

!!!!!!!!

We have a common criminal at the helm of affairs in Nigeria.

If u ask me Obansajo is part of the problem u convince Nigerians to trust Buhari if no be say u Senior my papa I for swear u

Sirjamo:
When Obasanjo was President, he sold like 400 assets, made so much money from oil and left $104b for his two boys. The clueless one of Otueke blew all the money left for him and even took loans.


Buhari had no reserves to blow, hasn't sell any asset, oil has fallen by more than 50% on the average, there was Niger Delta avengers and now COVID 19 World economic downturn. If he doesn't borrow money, where will he get fund to run the government and build infrastructure?

Talk with sense

Interesting times..