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Nairaland Forum / Nairaland / General / Politics / Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined (20089 Views)
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Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Tokskob2008: 7:00am On Dec 19, 2021 |
benuejosh:And Buhari's government has done the right thing with our money now right Almost 7yrs now and you people are still blaming the last government while actually doing worst than what they did. What has Nigerians benefited from this present government since they came on board? 15 Likes |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Advocate500: 7:23am On Dec 19, 2021 |
Horlufemi:so in your opinion Buhari have performed more than the entire formal president of Nigeria combined? So he can borrow as much as he like, after all the rail lines from kano to Niger republic will soon be completed. 9 Likes 1 Share |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by ivolt: 7:26am On Dec 19, 2021 |
backbencher:There is no required breakeven for budget! The government set the so-called breakeven itself. A government choose whether to go into deficit or not based on the budget it prepares. Stop saying we. The government borrows. The government don't have to borrow but it does. It doesn't have to construct billion dollar railway line to Niger but it does. It doesn't have to share untraceable cash to supposed poor people but it does. The government prepares a budget, then use the same budget as justification for borrowing when it could have considered its revenue before preparing budget. It is an illogical reason. Oil didn't lead to any issue after all some countries without oil are also irresponsible with borrowing. Oil or no oil, a character like Buhari would borrow as much as he can to fund economically untenable projects since he would not be here when the chicken comes home to roost unless a miracle happens. Nigerians are already paying the price of borrowed funds with uncontrollable inflation. Even the page you linked to expect a responsible government to cut expenditure if country's revenue can't cover it. 19 Likes 3 Shares |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by ivandragon: 7:32am On Dec 19, 2021 |
Pmb is quite simply a bad administrator & has surrounded himself with lieutenants who are nothing more than praise singers... While borrowing cannot be discounted, a key thing that needed to be done to increase revenue in the short term was to widen the tax bracket. https://www.google.com/url?q=https://www.vanguardngr.com/2021/10/firs-boss-only-41-million-people-pay-tax-in-nigeria-2/&sa=U&ved=2ahUKEwjZyrXIn-_0AhUQxoUKHSOrCgwQFXoECAIQBA&usg=AOvVaw0n7m20osqdozKZs95-2xOJ 2 Likes 1 Share |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Nobody: 7:33am On Dec 19, 2021 |
ivolt: 1. The fiscal breakeven i refer to is basically internationally set. Any goverment breakeven or minimal oil price is just goverment decieving itself. (I say this as someone who believed goverment minimal oil prices till 2019.when I first became aware.of the fiscal breakeven)Fact is, we aren't earning enough money from oil to fund the budget adequately. And we know it. 2.All African governments borrow because we are resource dependent countries. We can avoid borrowing by taxing the 70 percent of Nigerians working in the informal sector. And by becoming industrial countries exporting industrial goods and services. See why PDP and APC aren't my flavour of the day? 3. It's sad that Nigerian.goverment too.cannot cut revenues . That's why APC is no good. For more information https://nigeriaworld.com/articles/2004/aug/062.html Gives a good assessment of our problems plus why we borrowed in the past. It was written in 2004 ,not recently by the way And by the way,I would have made the same comments I am making now if a govenrnent you wanted in power was in power now. Because Nigeria's problem is simple. We depend to much on oil. APC in six years has not fixed that. Neither did PDP. And it annoys me a lot 4. If you want a railway built in your village, your senators and representatives are there.Meet them. I ain't in goverment 1 Like |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by ifiokjohn(m): 7:41am On Dec 19, 2021 |
backbencher:Just shutup abeg. Doing Obasenjo, Oil prices was much lower.. less than 20 dollars per barrel so talk something else. 4 Likes |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Nobody: 7:49am On Dec 19, 2021 |
ifiokjohn: Oil prices under Obasanjo were between 20 to 60 dollars and higher . It was between 60 to 70 dollars.when he left.power. Also our forex needs were lesser then. Even then the economy was just as bad. Obasanjo managed to pay off our debts under a deal where we still paid one third of the debts while te rest was wrriiten off. Many other African countries had all their debts written off completely. We get into debt because the price of what we sell is never where we want it to be. Lenders like China are never in debt like we are because they sell industrial goods menaningthey can set the price,meaning more Forex You get why Buhari is a bad leader now? 1 Like |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by ivolt: 7:50am On Dec 19, 2021 |
backbencher:Please what is the current internationally set breakeven and who does the setting? Few countries earn enough and that is the norm. Why did you like distracting from the main issue? Buhari has borrowed more than several governments did combined. Why are you trying to blame African government who have no control over Buhari's decision. Taxing 70% of the citizens won't stop an irresponsible government from recklessly spending and borrowing. It is an economic fact that wants increase with revenue. What does this even mean? This is just another buzzword like diversifying. The article is just another one blaming oil discovery for a government's poor policy. The government borrows to spend recklessly because it helps it buy goodwill in the interim. 6 Likes |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by benuejosh: 7:54am On Dec 19, 2021 |
nzeobi:which fake news. Abegi. |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by autonomous22: 8:00am On Dec 19, 2021 |
benuejosh: See dis one...u tink say u Wise |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Muhylonaire007: 8:02am On Dec 19, 2021 |
benuejosh: So Jonathan is responsible for Buhari's woes? Weere niyin sir 6 Likes |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Benprass(m): 8:04am On Dec 19, 2021 |
I won't try to hide anything but let me just say it like this An average northern is dull Especially those aboki Most northern have nothing to offer they just to occupy public office so that they will have thier name on the history books If you remove the north and his people from Nigeria within one week Nigeria will be great. The north, buhari and Islamic are the biggest problem facing this country. 4 Likes |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Nkitara: 8:04am On Dec 19, 2021 |
benuejosh:Shut the Bleep up mugu 2 Likes |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Benprass(m): 8:07am On Dec 19, 2021 |
benuejosh: So you want to tell me the education your gave to you was useless? Do you know the damaged this Apc has done to Nigeria? I hope you aint sick. What does bra have to do with what is on grand 5 Likes 1 Share |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Benitoh: 8:07am On Dec 19, 2021 |
Don't tell me you've been falling for them FFk, asari and many of them including Reno all this while, pressing our mumu botton by trying to tell us what we want to hear. Thank God you've waken up. descarado: |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by ifiokjohn(m): 8:07am On Dec 19, 2021 |
backbencher:Buhari is leaving power now and oil price is rising and will rise as much as 90 dollars soon.. but on an average we know Obasenjos time his was 20-30 dollars per barrel compared to Buhari own that average about 50 dollars per barrel. Is that simple. Buhari build 2 rail way( note abuja-kaduna was Jonathan's) we no go rest. Abeg jhor. Maybe after Buhari goes, we will need another Obasenjo to come and beg for debt relief. See bro one of the reasons we are suffering higher inflation is because of the close of border.. that shit haven't helped us in anyway... By the way do Rwanda sale industrial goods that they're doing quite well than us? No. Though I know you will call Population as the reason but you forget India has times 5 of our population and they're doing quite well. The year Buhari came to power, between 2015-2019 India pulled more than 300 million people from poverty. That's leadership there. The Indian govt didn't go blaming past administrations or oil prices or dancing prices( lol I'm joking about the dance) for the amount of poor people in their country or the state of things in their country. Compare Nigeria to India 2015-2022 and you will see your President and his party are utter failures... Infact, let's even leave India and go to Rwanda, or common Ghana here. 5 Likes |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Horlufemi(m): 8:08am On Dec 19, 2021 |
Advocate500: I Don't like Bohari. But I hate hypocrites. His performance is absymal but no one is 100% bad not even bubu. Infrastructure wise he pass but we don't like him so - failure Economy - terrible (not entirely his fault if we are honest with ourselves) but still - failure Security - do we need to stress this? - failure A lot of people are deliberately misinformed by that Niger rail line especially Reno and PDP online influencers. Niger is not a coastal country but as like every other country in the world needs to import and export. Ghana, Benin Rep and Togo all transport good to and from Niger and get paid for it. I ask you..what's a good reason Nigeria should not take a piece of that goodies? |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Techguy96(m): 8:08am On Dec 19, 2021 |
benuejosh:It's almost seven years and you are still blaming Jonathan. What is wrong with you. 2 Likes |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by treatise: 8:08am On Dec 19, 2021 |
Horlufemi: Imagine! Not just politics but calling Buhari you Oga out. |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Allahismad: 8:09am On Dec 19, 2021 |
Horlufemi: Use your sense at least even if it is expired, what has building railway to niger republic has to do with Nigeria economy? All these almajiris, does it mean you guys exchanged your brain for bambiala. 4 Likes |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by LofP(m): 8:09am On Dec 19, 2021 |
People are neglecting to mention that Buhari has not encouraged manufacturing, innovation or diversification because his government is even more nepotistic, divisive and corrupt than all previous democratic governments. Isn't it stupid to support only Rice but neglect Cocoa and then claim to be supporting Agriculture? 7 Likes |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Thunderfayayou: 8:11am On Dec 19, 2021 |
benuejosh: Tufia! You're today cursed. 2 Likes |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Horlufemi(m): 8:12am On Dec 19, 2021 |
Allahismad: Yes it has expired. I have no brain |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Horlufemi(m): 8:13am On Dec 19, 2021 |
treatise: I'm calling Reno out too Buhari is not my Oga. God forbid |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Nobody: 8:14am On Dec 19, 2021 |
ifiokjohn: Buhari also had oil prices dip below 30 dollars in 2016 and 2020,plus oil price in Nigeria has never been at our fiscal breakeven which is above 120 dollars per barrel,which is why we are in debt ( That's why Jonathan also took loans. Despite having high oil prices,the prices did not meet or reach the breakeven oil price. Then he was forced to spend billions on subsidies that he didn't want) But I agree with you. Buhari was voted in to solve those problems ,and he talked a fine game about diversification. He and osinnbanjo. At the end, nothing happened and the economy is in a mess. There.are.many reasons why I never voted for APC at all |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Horlufemi(m): 8:14am On Dec 19, 2021 |
Advocate500: I didn't say that, but infrastructure wise he's better. 2NB is almost completed too. |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Brushstrokes20: 8:15am On Dec 19, 2021 |
Dammmmmmmmnnnn it!.... The lifeless vegetable is all shades of disasters! Useless govt of self serving THIEVES AND BLOODTHIRSTY TERRORISTS! Buhari and cohorts are CHRONIC THIEVES! |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Lumig: 8:17am On Dec 19, 2021 |
We know you hate the president but don't go that direction Mr omokri |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by yusluvad(m): 8:17am On Dec 19, 2021 |
nzeobi:Lol! |
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