vedaxcool:
Why didn't the same idiots who criticize this complain that PMB is building railway that connects to the sea? The same railway this folks take about have over 90% of its construction in Nigeria but it is the less than 10% that is the focus of this failure par excellence.

A man who stole the identity of a child in the service of thieving administration. That is the sort of man nairaland has given front-page rights.

Okay, that's cool. 90% to 10% ratio (even though this claim can't be found anywhere),
But what is the essence of railway to Niger, the very economic importance? And Why Niger in particular?
And do you know that concerned senators cried out that the standard of train planned to build for Niger is a far better grade and technology compared to that done here in Nigeria? Which means the cost of that for Niger is far bigger and greater. Why Niger? Why the double standard?... What is the essence of all these? Just asking to know really.

backbencher:


My point is both Buhari and Obasanjo are bad leaders because they did not get us off oil.

Yeah maybe. But we live more better doing Obasenjo time so I take obasem

nedekid:

Reno is not fighting for the man you refer to.

If you say so

backbencher:
The harsh reason why Buhari is borrowing is simple

The oil price is and has never been at the level we need it to be to adequately fund our budget.

Oil amounts to a small percentage of our GDP but a large percentage of our budget revenue.

In 2012, our breakeven oil price was 122 dollars per barrel. In 2017, it had gone up to 139 dollars per barrel. Now it is 133 dollars per barrel

Oil prices were at 75 dollars per barrel in 2015 when Buhari took over, and have been as low as 20 to 30 dollars at some points since then.

Meanwhile our population and by extension our Forex needs have been growing

The alternative is to raise our tax to gdp ratio from its 6.4% to fund the budget. But that means taxing the 70% of Nigerians who don't pay income taxes due to working in the informal sector.

So we take loans to fund the budget.

Now oil is below 70 dollars per barrel, breakeven is 133 dollars meaning we lose 60 dollars per barrel of oil sold
At one point under Buhari it has been as high as 80 to 100.dollars below the breakeven.

At the end of the day, we tax everyone in this country, including beggars, farmers, and even hawkers, to raise the tax to gdp ratio drastically, or we take loans and more loans to cover the difference between the actual crude oil price and the price it should be at to sustain us.

Because taxing everyone is not politically popular, we take loans instead.


( Buhari is a bad leader, and not someone I would vote for ever, so don't go there. I wish we could get some technocrats in office really


Again, Buhari is a bad leader who has failed in diversifying the economy which could have helped.)

So where them de see Billions steal from since money is inadequate to pay salaries?

freeborn02:


And your brain told you it is normal to place another country ahead of a Nigerian state in the so-called "pipeline"?

Do I need to remind you, Mr Unreasonable Intelligence-insulting Apologist, that the money used to build the railline into Niger Republic was borrowed as an interest-based loan?

Do you use that thing you call a brain at all? Or your dedication to defence of evil has stripped you of your senses?

Do you believe you can address people without insulting them. It only shows how simple minded you are. I have indulged you enough so I won't reply you anymore. God bless everything that concerns you. Amen.

Have a lovely day freeborn02

DeHorus:
So where them de see Billions steal from since money is inadequate to pay salaries?

The corruption makes the situation worse.

benuejosh:
If only Jonathan's government did what was right with our money instead of buying bra up and down.

Notably, Reno, Fayose, Nnamdi Kanu, Fani Kayode and Ortom are brids of a feather. They talk before thinking. No body takes them serious.

Keep making silly excuses for your incompetent one.

BigYash:
You sound even more foolish with your write up.. Reno can never suffer what you suffer now in the country, so be wise and stop supporting this evil government..

I'm not in support of the government. I'm just calling out Reno and state some facts.

Like it or not...the truth is that this Government is not 100% bad

benuejosh:
If only Jonathan's government did what was right with our money instead of buying bra up and down.

Notably, Reno, Fayose, Nnamdi Kanu, Fani Kayode and Ortom are brids of a feather. They talk before thinking. No body takes them serious.

Lol ironically you're "benue" josh.

ifiokjohn:
Yeah maybe. But we live more better doing Obasenjo time so I take obasem

We weren't living better under Obasanjo.

Things were just as bad then

They are worse because our population is higher than it was then,and by extension our Forex needs

Note that I am.not defending Bihari. The problem with both Buhari and Obasanjo is that if they had pursued policies that diversified our economy away from oil we would have been in a much better place than when Obasanjo was in power.

Buhari is a bad leader. Where we disagree is why he is a bad leader

Horlufemi:


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?

It is better to just call a spade a spade please.. This Government is the worst we have ever had. You yourself don't need to be hypocrite.

stayclearofme:

Bros you get time to dey explain yourself to all these bitter people that doesn't reason... A lot of people don't approve of Buhari including me but the truth is what you just explained.
All they want to hear from you is: Buhari is mad, he is wicked, he is Boko Haram, he is jihadist etc .. If you don't they will start throwing tantrums at you, they will label you BMC. No logical reasoning at all.

I don't like Buhari myself.

Infact I kind of hold him responsible for the bad security crisis in the country and for not diversifying the economy at all.

But why we borrow goes beyond Buhari being in power

This country has long been sold out for peanuts. Nigerians must win the battle for thier minds against salvation.

Has Buhari borrowed more than other presidents combined? Yes or no?

Is Anambra GDP more than that of Niger Republic? Yes or no?

Does it make economic sense for Buhari to build railway into Niger Republic, while ignoring a Nigerian state?
#copied

And has Nigeria economy improved despite the ‘ the extensive infrastructure’ been built by Buhari ? Yes or No

How have the average Nigeria benefited in the heavy loans ?

Can the ‘ acclaimed infrastructure repay the loans been used to build it in the next 10years ? Yes or No ?

Under the ‘ bra buying government’ gas sold at #150 and under Mr Integrity gas sells at #750 ? Which government will you prefer ?

Has killing and banditry (terrorism) improved under Mr integrity? Yes or No ?

$1 sold at #300 under Bra buying government and under Mr Integrity it sells at $1 = #550 .

Has rule of law improved under Mr Integrity ? Yes or No ?

Has the appointments of Service chiefs or Agency chiefs or Ministers shown Mr Integrity deserved to be called Nigeria or Fulani President? Yes or No ?
Etc ?
Let’s attack the message not the messenger.

benuejosh:
you are almost a dog according to your moniker so i share no thoughts with you whatsoever.

fvck off Zombie

backbencher:
The harsh reason why Buhari is borrowing is simple

The oil price is and has never been at the level we need it to be to adequately fund our budget.

Oil amounts to a small percentage of our GDP but a large percentage of our budget revenue.

In 2012, our breakeven oil price was 122 dollars per barrel. In 2017, it had gone up to 139 dollars per barrel. Now it is 133 dollars per barrel

Oil prices were at 75 dollars per barrel in 2015 when Buhari took over, and have been as low as 20 to 30 dollars at some points since then.

Meanwhile our population and by extension our Forex needs have been growing

The alternative is to raise our tax to gdp ratio from its 6.4% to fund the budget. But that means taxing the 70% of Nigerians who don't pay income taxes due to working in the informal sector.

So we take loans to fund the budget.

Now oil is below 70 dollars per barrel, breakeven is 133 dollars meaning we lose 60 dollars per barrel of oil sold
At one point under Buhari it has been as high as 80 to 100.dollars below the breakeven.

At the end of the day, we tax everyone in this country, including beggars, farmers, and even hawkers, to raise the tax to gdp ratio drastically, or we take loans and more loans to cover the difference between the actual crude oil price and the price it should be at to sustain us.

Because taxing everyone is not politically popular, we take loans instead.


( Buhari is a bad leader, and not someone I would vote for ever, so don't go there. I wish we could get some technocrats in office really


Again, Buhari is a bad leader who has failed in diversifying the economy which could have helped.)

And it is not politically popular for the only thing you left out in your compedium of excuses for bad governance which is the failure of this government to cut the cost of its administration.

Every keen observer has noted the huge leap in recurrent expenditure since 2015. What is the excuse for that. If income is tough and we cannot control that, what is the excuse for not cutting expenses to balance the books.

Every day we are inundated with upsetting news of government waste, graft and reckless maladministration of our treasury. Hardly the best campaign advert to get the long suffering citizens to pitch in with their taxes innit?

So they borrow because they cannot make the sacrifices to get us in solidarity with them. That is classic bad governance. To sneak on us liabilities we are unwilling to take.

backbencher:


I don't like Buhari myself.

Infact I kind of hold him responsible for the bad security crisis in the country and for not diversifying the economy at all.

But why we borrow goes beyond Buhari being in power

Exactly.

JAMO84:
Reno Omokri can only deceive PDP wailing losers.


Despite receiving the highest revenue since 1914, Dumbluck Jonathan still borrowed massively to pay salary and drink Ogogoro.

Gej did that because even though oil prices were high they were never as high as the fiscal breakeven oil price for Nigeria. So he had to borrow.



Also Nigeria was spending billions funding the oil subsidy which would have been saved if Buhari and company hadnt mobilized support against it.

Seriously your party is part of the problem.

Reference:


And it is not politically popular for the only thing you left out in your compedium of excuses for bad governance which is the failure of this government to cut the cost of its administration.

Every keen observer has noted the huge leap in recurrent expenditure since 2015. What is the excuse for that. If income is tough and we cannot control that, what is the excuse for not cutting expenses to balance the books.

Every day we are inundated with upsetting news of government waste, graft and reckless maladministration of our treasury. Hardly the best campaign advert to get the long suffering citizens to pitch in with their taxes innit?

1. First off,I am not defending the goverment.

2. I have reason to be angry with the goverment. Back in 2015,fair enough, they said we had to diversify the economy. Which they forgot about when they got into power.

3. They also promised to raise tax revenues which they didn't .

4. They didn't cut goverment spending as you have pointed out very well

5. And they kept on spending on subsidies


6. Meanwhile our Forex needs keep on rising.

So borrowing results. A sign of failure

I'm not defending this goverment. PDP and APC are jokes to me

Ah, ‘‘tis the voice crying in the wilderness saying, make way make way PMB don chop pass GEJ!

This guy sha is the only one saying & doing things that his whole party doesn’t have the guts to say or do. And if u think it’s just because he doesn’t reside here now, this administration that is adept at mudslinging would have released information to discredit him if they could find any by now.

Jack005:
Shut up!!

Ignore omenka

ifiokjohn:
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.

Interesting that you mention India's population size. I understand you wanted to emphasize that it is not the size of a country's population but how "productive" that population is. India's tech sector is still growing. Their fastest growth area is reflected in the boom in Tech Unicorn Startups as mentioned in this article: https://www.ibef.org/economy/indian-economy-overview-- "India is the fourth-largest unicorn base in the world with over 21 unicorns collectively valued at US$ 73.2 billion, as per the Hurun Global Unicorn List. By 2025, India is expected to have ~100 unicorns by 2025 and will create ~1.1 million direct jobs according to the Nasscom-Zinnov report ‘Indian Tech Start-up’"...

Nigeria's extremely large population is nowhere near productive even for fourth world countries. There is absolutely no policy to incubate any virile world-class tech or industrial startup scene at all. What is the point when even the basics of providing constant and stable electricity has not been mastered? Emerging markets like India and even more-so China--have since leaped far ahead because they prioritized the need to produce and export "something of value"...rather than roll around the the low-wage resource exports tier. Countries like China also understood "growth" by placing a one-child policy for a period in their history with a clear understanding of how Malthusian dynamics can doom a nation's economic growth plans. Nowadays, a more prosperous China has done away with limits to child bearing and is encouraging their young citizens to have more babies because of the greater trend of an aging population.

What has doomed Nigeria for so long is the fact that a wild out of control population growth is driven more by "political competition" rather than an a natural organic natural growth reflecting the actual capacity of citizens to take care of themselves. The various ethnic groups have not understood the types of "growth" that correlates with a high human development index--where the quality of the population means a lot more than the "quantity." Becoming a diligent "civil servant" in any tier of government is not the type of technical growth we are talking about.

Why has the budget ballooned out of control? Because a massive hydra-headed beast of a leeching Federal Government sucks in and spits out into artificially created constructs called "states" that are even more unproductive but need an unhealthy amount of subsidies from a mono-export to survive.

If I had the powers I would scrap two-thirds of the existing states, wipe away the existing local governments (those who want to exist must tax themselves to survive), create a more regional or state policing system (relieving the FG of this burden) and encourage each state to exploit more of their own resources to export for cash. Then, for each state or region...it is sink or swim time! If anyone likes, train your youths with the technology of tomorrow or train them with Almajiri and Nomadic Terrorism...it is all up to you. No more oil revenue to cover your shame anymore!

Horlufemi:
Reno is a Foolish hypocrite Pastor.

Reno said he will never speak on politics again, he's still showing in politics. The man he's fighting for us good friends with Buhari. The man he's fighting for is working for APC, the man he's fighting for is working what's PDP, the man he's fighting for is at peace with Buhari and the man he's fighting for did nothing for igboland (prove me wrong)

He calls Buhari a tyrant but everyone who has a contrary opinion cannot share theirs but gets blocked. I've never seen such hypocrite in my life.

Can he compensate for inflation and cube back and meet me?

He's saying Buhari borrowed. The ones that didn't borrow, where are the projects. Please list all the projects that were completed and I'll show you 5x more abandoned projects even the ones that never started especially that 16bn.

When it comes to the masses direct improvement of life Buhari failed woefully. Insecurity, economy, inflation but truth be told he has done now infrastructure than past presidents combined.

Reno is just a manipulative hater and not a Christian the Holy Spirit has left him a long time ago.

I will tell it to his face and he cannot block me in real life he can only kill me to shut me up from telling him the truth.

Nonsense human being.

Bro abeg what infrastructure?

benuejosh:
If only Jonathan's government did what was right with our money instead of buying bra up and down.

Notably, Reno, Fayose, Nnamdi Kanu, Fani Kayode and Ortom are brids of a feather. They talk before thinking. No body takes them serious.

does it mean you don't have any sense of reasoning? I mean' what sort of human beings are you that supports this BUHARI's government? attack the message he passed not the messenger, nobody looted this country more than IBB and ABACHA, but Nigerians never suffered like this, Gej spent only six years and till this day this government is yet to nail anyone through court proceedings that served under Gej, all they do is propaganda cum media trials, DASUKIGATE has been closed without fact-finding, the government you supports today acucuses people online, try them online, and take them into captivity, and you A FULL-TIME ZOMBIE comes online to support them, don't you have sense? you are still talking about Bra that even the government itself has denied saying such, Nigeria has never been this terrible, but some of you wicked souls have refused to call a spade a spade, this evil you some of you guys support today must surely consume you one by one, now' like i said before, attack the message not the messenger... #Onukwu

backbencher:
The harsh reason why Buhari is borrowing is simple

The oil price is and has never been at the level we need it to be to adequately fund our budget.

Oil amounts to a small percentage of our GDP but a large percentage of our budget revenue.

You are writing out of ass! What was the oil price under OBJ, Abacha, IBB etc? Under OBJ oil price was under $30 for 6 years and reached $60 in his final two years yet OBJ managed to clear the national external debt.

Over the past year, oil price is $80 yet Buhari has managed to take more loans close to $30 billion, who will pay back this debts

Horlufemi:
Reno is a Foolish hypocrite Pastor.

Reno said he will never speak on politics again, he's still showing in politics. The man he's fighting for us good friends with Buhari. The man he's fighting for is working for APC, the man he's fighting for is working what's PDP, the man he's fighting for is at peace with Buhari and the man he's fighting for did nothing for igboland (prove me wrong)

He calls Buhari a tyrant but everyone who has a contrary opinion cannot share theirs but gets blocked. I've never seen such hypocrite in my life.

Can he compensate for inflation and cube back and meet me?

He's saying Buhari borrowed. The ones that didn't borrow, where are the projects. Please list all the projects that were completed and I'll show you 5x more abandoned projects even the ones that never started especially that 16bn.

When it comes to the masses direct improvement of life Buhari failed woefully. Insecurity, economy, inflation but truth be told he has done now infrastructure than past presidents combined.

Reno is just a manipulative hater and not a Christian the Holy Spirit has left him a long time ago.

I will tell it to his face and he cannot block me in real life he can only kill me to shut me up from telling him the truth.

Nonsense human being.

..no he won't waste his energy killing a dead man like u...infrastructure kill u there..ewu

Horlufemi:
Reno is a Foolish hypocrite Pastor.

Reno said he will never speak on politics again, he's still showing in politics. The man he's fighting for us good friends with Buhari. The man he's fighting for is working for APC, the man he's fighting for is working what's PDP, the man he's fighting for is at peace with Buhari and the man he's fighting for did nothing for igboland (prove me wrong)

He calls Buhari a tyrant but everyone who has a contrary opinion cannot share theirs but gets blocked. I've never seen such hypocrite in my life.

Can he compensate for inflation and cube back and meet me?

He's saying Buhari borrowed. The ones that didn't borrow, where are the projects. Please list all the projects that were completed and I'll show you 5x more abandoned projects even the ones that never started especially that 16bn.

When it comes to the masses direct improvement of life Buhari failed woefully. Insecurity, economy, inflation but truth be told he has done now infrastructure than past presidents combined.

Reno is just a manipulative hater and not a Christian the Holy Spirit has left him a long time ago.

I will tell it to his face and he cannot block me in real life he can only kill me to shut me up from telling him the truth.

Nonsense human being.

same reno is using money he stole in nigeria to stay in hotels in the carribean which cost 1 million naira a night. can you imagine ? 1 million naira a night is how much reno spends on hotels in the carribean . if you think i am lying i will get the video for you


https://www.youtube.com/watch?v=bLninDtH0as

Borrowing so much to fund the budget amidst overdependence on oil revenue from which a significant portion goes on to service existing foreign debt and re-current expenditure. With little or nothing for Capital expenditure which has a multiplier effect boosting variety of economic activity.

backbencher:
The harsh reason why Buhari is borrowing is simple

The oil price is and has never been at the level we need it to be to adequately fund our budget.

Oil amounts to a small percentage of our GDP but a large percentage of our budget revenue.

In 2012, our breakeven oil price was 122 dollars per barrel. In 2017, it had gone up to 139 dollars per barrel. Now it is 133 dollars per barrel

Oil prices were at 75 dollars per barrel in 2015 when Buhari took over, and have been as low as 20 to 30 dollars at some points since then.

Meanwhile our population and by extension our Forex needs have been growing

The alternative is to raise our tax to gdp ratio from its 6.4% to fund the budget. But that means taxing the 70% of Nigerians who don't pay income taxes due to working in the informal sector.

So we take loans to fund the budget.

Now oil is below 70 dollars per barrel, breakeven is 133 dollars meaning we lose 60 dollars per barrel of oil sold
At one point under Buhari it has been as high as 80 to 100.dollars below the breakeven.

At the end of the day, we tax everyone in this country, including beggars, farmers, and even hawkers, to raise the tax to gdp ratio drastically, or we take loans and more loans to cover the difference between the actual crude oil price and the price it should be at to sustain us.

Because taxing everyone is not politically popular, we take loans instead.


( Buhari is a bad leader, and not someone I would vote for ever, so don't go there. I wish we could get some technocrats in office really


Again, Buhari is a bad leader who has failed in diversifying the economy which could have helped.)

Horlufemi:


Do you believe you can address people without insulting them. It only shows how simple minded you are. I have indulged you enough so I won't reply you anymore. God bless everything that concerns you. Amen.

Have a lovely day freeborn02

You are blessed for this!

backbencher:
The harsh reason why Buhari is borrowing is simple




Because taxing everyone is not politically popular, we take loans instead.


( Buhari is a bad leader, and not someone I would vote for ever, so don't go there. I wish we could get some technocrats in office really


Again, Buhari is a bad leader who has failed in diversifying the economy which could have helped.)

Be blaming oil price, as if Jonathan fixed oil price.
This government is borrowing money and looting it. Refineries not working despite promises.
Buhari has been campaigning for presidency since 2003, 2007, 2011, 2015 which he won n he is behaving like some who was transferred from a village in Kenya to Aso rock.
All those years he was campaigning, he had no idea of what to do for Nigeria.....that is the bitter truth. 6 years + is gone and we are in big chaos, very bad economy, highest insecurity, terrible education, worst inflation, worst unemployment, worst debt, Terrible corruption in police, DSS, EFCC, and public service including the army with their white lies. Nigeria is even more polarised now than ever . Life has become so difficult that people easily surrender to corrupt practices just to survive.

No excuse for this kind of failure.

Horlufemi:
Reno is a Foolish hypocrite Pastor.

Reno said he will never speak on politics again, he's still showing in politics. The man he's fighting for us good friends with Buhari. The man he's fighting for is working for APC, the man he's fighting for is working what's PDP, the man he's fighting for is at peace with Buhari and the man he's fighting for did nothing for igboland (prove me wrong)

He calls Buhari a tyrant but everyone who has a contrary opinion cannot share theirs but gets blocked. I've never seen such hypocrite in my life.

Can he compensate for inflation and cube back and meet me?

He's saying Buhari borrowed. The ones that didn't borrow, where are the projects. Please list all the projects that were completed and I'll show you 5x more abandoned projects even the ones that never started especially that 16bn.

When it comes to the masses direct improvement of life Buhari failed woefully. Insecurity, economy, inflation but truth be told he has done now infrastructure than past presidents combined.

Reno is just a manipulative hater and not a Christian the Holy Spirit has left him a long time ago.

I will tell it to his face and he cannot block me in real life he can only kill me to shut me up from telling him the truth.

Nonsense human being.

forgot about Reno and who he is fighting for, concentrate on the message he passed across...

You probably need to improve your ability to comprehend because I don't see where he indirectly supported the present govt

Jack005:
Always indirectly supporting this useless government.. Nonsense as usual.