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Nairaland Forum / Nairaland / General / Politics / Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined (20120 Views)
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Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Nobody: 11:40am On Dec 19, 2021 |
Yusman316: Personally I agree with most BUhari critics, but where we disagree is how and why he is a bad leader. 1 Like |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Yusman316(m): 11:47am On Dec 19, 2021 |
Benprass:When you see a post from an illiterate even without a soothsayer telling you, you will know. Going to school alone doesn't make a person literate. So all the northerners that work for and in international organizations and countries, those organizations and countries are stupid for employing illiterates, right? |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Yusman316(m): 11:50am On Dec 19, 2021 |
backbencher:You are objectively giving reasons for why things are the way they are and at the same time showing you don't support Buhari, yet all that guy challenging you could see is, 'Buhari supporter' |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Nobody: 11:53am On Dec 19, 2021 |
ivolt: I really found this your comment funny, and it shows you don't get why our economy is in the state it is now, and why it has always been in a bad state. We borrow because we are a Dutch diseased economy Let me quote from the article I linked you with earlier... Corden and Neary (1982) have demonstrated how Dutch disease occurs in an economy. According to them, in a country experiencing "boom" in the export of a commodity, the economy can be divided into three sectors: the "booming" export sector, the "lagging' traditional export sector and the non-export sector. The Dutch disease occurs when the traditional export (tradable goods) sector is crowded out by the booming export sector and the non-tradable goods sector. The lagging traditional tradable goods sector may include cocoa, palm produce, cotton, rubber, coal, copper, textiles and some manufactured goods while the booming export sector may be crude oil, coffee, gold, etc. The non-tradable (non-export) goods sector covers all those goods that are produced for domestic consumption only, e.g. staple food items, clothing, building materials, locally-assembled cars.. You see why we had to borrow. And Buhari is a borrower because he did not prepare a plan for diversifying the economy and the budget away from oil dependency. We borrow because oil, nice as it is, is not enough for our needs. That is what happened in the period from 1982-2006 and right now from 2013-date.(and even in 2009 -13 , where we had to do some borrowing.). It is the way oil dependent economies function....and is where APC Is failing us by not responding to the problem by diversifying. |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by FKMagazine(m): 11:55am On Dec 19, 2021 |
Worse president ever |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by justmondris: 12:03pm On Dec 19, 2021 |
nzeobi: Is there any negative news any of the government agencies under this administration has confirmed to be true? |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Yusman316(m): 12:04pm On Dec 19, 2021 |
backbencher:Majority of the people we complained about in PDP of yesterday are they not the ones currently running things in APC and the country at large. So where will the change or diversity come from? When we are dealing with the same set of people |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Nobody: 12:15pm On Dec 19, 2021 |
Yusman316: Let me let you in on a secret Western politicians are just as corrupt as African politicians Things work there because 1.A lot of people in the West ..ie the developed world...do the hard work of holding their politicians to account. 2.Government income in the West depends heavily on taxes, not on revenue from selling oil...so people are incentivized to do something about bad governance over there...unlike NIgeria where most money comes from oil, less from tax revenue. 2 Likes |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by VULCAN(m): 12:19pm On Dec 19, 2021 |
Widen the tax bracket of the country with the largest number of poor people on earth...... How mentally lazy does one have to be to present this as a solution? Transfering the responsibility of development away from the leadership to the poor masses. Rubbish ivandragon: |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Johel(m): 12:20pm On Dec 19, 2021 |
Omicronvaccine: Reno my man. |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by ebufa: 12:36pm On Dec 19, 2021 |
benuejosh: fulani has battered and emasculated this dude so much to the point of drooling and grovelling at the sight of any fulani man! mumu man! |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by eduora: 12:38pm On Dec 19, 2021 |
Please hausa and yourbas be wise for once...have common sense likes European and behave likes an igbo.we are not surprised with your post.before January, Muhammed buhari will borrow more money in 2022. |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by PointZerom: 1:01pm On Dec 19, 2021 |
benuejosh: Just look at what a supposed adult and leader of tommorow is posting on social media. I weep for this country. |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by HitRun(m): 1:13pm On Dec 19, 2021 |
benuejosh: The one that has not been buying bra up and down, what has he to show? |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by dvkot(m): 1:17pm On Dec 19, 2021 |
helinues:hellanus why should he shut up? Cos he spoke the truth? |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by whytediamond(m): 1:17pm On Dec 19, 2021 |
benuejosh: Did you say "nobody takes reno seriously"? That must be the joke of the year. |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Ajehkpako4naija(m): 1:23pm On Dec 19, 2021 |
benuejosh:and only if Buhari didn't invite his bandits to come help him in 2015 elections and refuse to settle them. Now they spread like wide fire. Anufiaaaa |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by DeHorus: 1:33pm On Dec 19, 2021 |
backbencher:Omo |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by tctrills: 1:38pm On Dec 19, 2021 |
benuejosh:Jonathan has been out of office for 6 years. When would this curse stop. Jonathan was bad we replaced him with worse. |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Timmi: 1:41pm On Dec 19, 2021 |
Omicronvaccine: So what? All the money borrowed are accounted for and are spent on infrastructure development all over different regions in the Country. Unlike your own President that borrowed money and spent frivolously and the revenue generated was stolen with his full cooperation. How can you explain a female minister stealing more money than Abacha and you still have mouth to talk. You really do not have shame nor your family trained you well at all. |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Timmi: 1:43pm On Dec 19, 2021 |
tctrills: Yes he has been out of office but seeds sown germinated starving the incoming government necessary funds for development |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by IPIGSRDOTARDS: 1:46pm On Dec 19, 2021 |
Lying attention seeking MOFO - Renomonkey This idiot won't mention to his gullible followers that they were borrowing money just to pay salaries in 2015 not to build anything tangible.
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Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by mrkingjerry(m): 1:58pm On Dec 19, 2021 |
benuejosh:You are fool, may you die in the past, goat What have your current administration done so far with the money borrowed? That is what the topic is all about, no no you people will always doge it and start taking us backwards, that is the signature of a failure, looking for who to blame |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Torylanez(m): 2:09pm On Dec 19, 2021 |
itsme01: What are the contents of the electoral reforms ? Tell us |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by ifiokjohn(m): 2:09pm On Dec 19, 2021 |
J3susFr3ak:No where productive but Buhari and his unproductive North's keep producing 100 of children. In 1982-84 nigerians suffered.. guess who was in power then...Buhari In 2015-2022 Nigerians are suffering..guess who is in power ...buhari. Most nigerians always suffer when Buhari is in power? Abi you want to say the one of 1984 is oil prices too? Or that India still has a better productive population than us? Abeg you guys should stop defending buharis failure....it irritating seriously By the way your ending is way Nigerians are asking for, True federalism. We can't sustain the current system we are practicing. States needs to start being in control of their future. We have to go back to regionalism This time just 5 regions.. Eastern, Western, southern, northern, and Midwest region will be idea and save us alot of money than this current system. We outh to have started it with first the E-Voting and State policing system your Dear president has refused to signed into law. |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by tctrills: 2:17pm On Dec 19, 2021 |
Timmi:I don't get it. Was he suppose to provide the funds for the next government? Or is buhari borrowing all these billions to fund the next government? |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by ifiokjohn(m): 2:18pm On Dec 19, 2021 |
backbencher:Ok really? Was our population higher in 1984 when Buhari was head of state and Nigerians were suffering?. See we live better doing Obasenjo. Doing Obasenjo I was in primary school .a private one. I could boast of eating 3 times daily. I could boast things were far easier from my family. But the devil Buhari came in things became extremely hard. You know the worst 2015 I campaigned for Buhari and my parents warned me told me how they suffered in 1982-84 I refused to reason it. I believe things will be different this time but they ain't . You complain of higher population now than doing Obasenjo.. in 1984 was the population higher than Obasenjo era too? |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Danjikanbauchi: 3:02pm On Dec 19, 2021 |
Horlufemi:Afonja Muslim has no shame. |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by ayibaisgud: 3:05pm On Dec 19, 2021 |
benuejosh: And what has this useless Government that is not buying Bra done, see u wen don think b4 before u talk. |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by Nobody: 3:05pm On Dec 19, 2021 |
ifiokjohn: In 1984, we were two years into the oil crash. As a result, the economy was in a bad state....and had been for two years. The crash happened in 1982. That meant that the economy collapsed due to lack of forex. Shagari was already calling for austerity measures by 1983. What Buhari should have done was to take measures to diversify the economy then. He did not. See we live better doing Obasenjo. Doing Obasenjo I was in primary school .a private one. I could boast of eating 3 times daily. I could boast things were far easier from my family. But the devil Buhari came in things became extremely hard. During the hard times of Buhari and IBB in 1983-92 ,I also went to a private school, and ate three times a day, and also enjoyed. But it does not mean the economy was in a good state then. (By 1989, parents were running side hustles like most people to fund our lifestyle. Plus we cut coat well well.) The economy was in a bad state. Then, and now, even under Obasanjo (Infact in 2003, the argument used by Obasanjo supporters then was that since OBJ 'failed' he should be allowed to 'repeat'. You know the worst 2015 I campaigned for Buhari and my parents warned me told me how they suffered in 1982-84 I refused to reason it. I believe things will be different this time but they ain't I never ever campaigned for Buhari at all. I have supported third parties since 1999. In 1982, Shagari was in charge, and in charge till December 1983....Buhari took over Dec 31 and was in charge from then till August 1985. The harsh truth was that we had an economic crisis due to oil price crash. . This explains why the increase in oil prices and the subsequent oil revenue windfall in many oil-exporting countries have tended to depress their non-oil export sector while at the same time generating a boom in both the oil and the non-tradable goods sectors. With capital and labor shifting from the non-oil export sector to the oil-sector and non-traded goods sector, firms in the non-oil export sector are forced to either close down or reduce their scale of operation. The boom in the oil and non-traded goods sector increases the demand for imported goods. This may not be a problem in the short-term so long as the country has enough foreign exchange to pay for the imports. The depression in the non-oil export sector and the boom in the other two sectors have medium to long term implications for the economy because the oil windfall will not be permanent given the volatility, unpredictability and exhaustibility of crude oil. For instance, if there is a decline in oil prices and oil revenue, the lagging and collapsing non-oil export sector will not be able to compensate for the drop in oil revenue while domestic demand for the non-traded goods and imports remain sticky. Consequently, the country will be forced to borrow from the international financial market to compensate for the decline in oil revenue. Over time, external debts will increase and so will the debt service obligations. Even when oil prices go up later and there is another round of oil windfall, it is difficult to correct the earlier damage or distortions created by the initial or previous oil windfall. In some cases, the oil exporting country may be forced to adopt some form of structural adjustment program (SAP) to correct such distortions or imbalances. Some of these SAPs are painful and may increase the prevalence, depth and severity of poverty. Focus on the bolded, it's why we had issues in 1982-4..and eventually to 1990 (in 1986, IBB brought in SAP). Buhari and many of his successors failed in one thing....they did not respond to the problem by diversification. You complain of higher population now than doing Obasenjo.. in 1984 was the population higher than Obasenjo era too? In 1984, less than 300000 Nigerians had access to a telephone. Under Obasanjo, that jumped up to 22 million or so. That means...more forex, higher dependence on revenue Plus in 1984, our economy was bad. In 2004 our economy was bad. Simple reason....we were a resource dependent country, and we still are. |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by ifiokjohn(m): 4:07pm On Dec 19, 2021 |
backbencher:You have really found a way to defend Buhari. Well you said because of crash in oil prices..abeg why after Buhari left in 85, why did things improve immediately unlike when he was there and people were standing on line for basic stuffs like sugar etc? As soon as Buhari was pushed off power things improved for Nigerians. Thank God you said the Advent of telephone in Nigeria brought a new means of forex , but you forget that is just one means of forex.. but now doing Buhari time we have social media and others means of getting forex at present than doing obj 1999-2007. |
Re: Reno: Buhari Has Borrowed More Than All The 14 Presidents Before Him Combined by ifiokjohn(m): 4:09pm On Dec 19, 2021 |
backbencher:You have really found a way to defend Buhari. Well you said because of crash in oil prices..abeg why after Buhari left in 85, why did things improve immediately unlike when he was there and people were standing on line for basic stuffs like sugar etc? As soon as Buhari was pushed off power things improved for Nigerians. Thank God you said the Advent of telephone in Nigeria brought a new means of forex , but you forget that is just one means of forex.. but now doing Buhari time we have social media and others means of getting forex at present than doing obj 1999-2007 Doing obj how many means apart from oil we could use to get forex? Now doing Buhari at present...how many means about from oil we could get forex and then compare |
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