₦airaland Forum

HydraFeeds:
In as much as I detest debt ,it’s not really a bad thing if the money borrowed is invested on infrastructure that’s capable of generating returns.

USA is a model country but with a debt of 31 trillion dollars .

China debt is about 24 trillion dollars.

daisidgreat72: Monopoly of Nairaland is finally over

Timothyoj:
But their infrastructure and fast development shows and proves the worth of the borrowing unlike Nigeria.....!

another1:
Nigeria as a country has a long way to go.
What's lagos government doing with all the taxes here and there for God sake.

udeh3:
Don't mind them. Lagos is owing over 1tr debt cumulatively. Lagos has no domestic airport, no standard stadium, no too many good state owned hospitals with that number of population, etc. Thank God for Ambode. He never took any foreign loan, yet, his projects were massive and most were executed, but was kicked out cos he's not servicing some persons. Meaning BAT, Fashola and Sonwolu compounded those debt. With the massive debt, Lagos has the least roads in Nigeria

It's takes an economic genius to run a state without borrowing, not to talk of savings. This is what Obi did. Obaseki is following the trend.

Akfrenzy:
The data further shows that Lagos has the highest debt, with N877.04bn domestic debt and $1.27bn foreign debt.

It is followed by Kaduna, with a domestic debt of N86.86bn and external debt of $586.78m.


They'll still have the Temerity to tell u to go and vote another CALAMITY bcuz they see Nigerians as brain dead people and 3rd world country mentality is really playing a huge factor



LET'S VOTE WISELY 2023 ,a new Nigeria is POssible

Focusmind:
There is nothing wrong with borrowing. When I was in the banking industry, I fought for my bank to approve N3.5m for my cousin in 2009, who was struggling in his business at Tradefair complex. Within a period of one year, he paid off the loans and interest and scaled up his business big time. He is doing extremely well now, with two personal houses at Amuwo Odofin, Lagos. He doesn't joke with me as I was instrumental to his success.

However, in Nigeria, the value for money borrowed is nothing to write home about. The value of physical projects and what the loans were used falls short of the total loans.

Most of all these gigantic loans were used to build public toilets, low quality primary health centers, recurrent expenditure and white elephant projects.

HydraFeeds:
In as much as I detest debt ,it’s not really a bad thing if the money borrowed is invested on infrastructure that’s capable of generating returns.

USA is a model country but with a debt of 31 trillion dollars .

China debt is about 24 trillion dollars.

Reference:
This is not what credible and responsible citizenship should say particularly in a country like Nigeria where leadership qualities are severely lacking and at this time when the nation is in a debt crises. The leaders simply read into this and progress in error.

For this country at this time we the people should be resisting collectively and absolutely so that leaders start to think outside the box on how to run the economy, so that they consider other ways and means and so that they reconsider the way they presently spend which is not entirely transparent and prudent.

In other climes expenditure is watched at every instance and big budget projects (whether recurrent or capital) are thoroughly debated and vetted by parliament on behalf of the people before considerations are made to put the taxpayer under more burden. They don't just give their leaders and governments blank cheques to borrow wily-nily because they know the implications on inflation (which borrowing stokes) and thus the devaluation of assets, rising domestic interest rates, job losses and poverty.

I think the more the citizens are burdened and impoverished, the more they will have to learn and educate themselves on how economies work and thus how to better direct government and select leadership that take these things with utmost seriousness.

Till today and just weeks to a general election not a single candidate for the 2023 presidency has suggested not to talk of profered detailed solutions to our steaming macro economic challenges. It appears (like we always do) we will elect leadership that will come to 'learn on the job'.

Banbutton:
I see bastards coming here to blame our incoming president ASIWAJU BOLA AHMED TINUBU...
Lagos will always be a class on its own.
The USA of the world.

HydraFeeds:
In as much as I detest debt ,it’s not really a bad thing if the money borrowed is invested on infrastructure that’s capable of generating returns.

USA is a model country but with a debt of 31 trillion dollars .

China debt is about 24 trillion dollars.

post=119758262:
There was a nation!!!

nairamaniac:
See, I actually believe that USA is misleading the entire world to follow their path of borrowing money excessively.


USA may not have needed these funds as borrowed funds.

This is a country that seems to have dollars as an Export -commodity. Also, they actually print dollars to inject into their economy when needed.

Somethings don't seem to add up here concerning
USA debt, borrowing and how flexible their economy-policies are.

HellVictorinho6:
But this is Nigeria

HydraFeeds:
the truth is that there are many governments actions that we do not know their end points but I don’t think a reasonable man will burn his own house just to spite the visitor or cut his head off just to spite headache .

USA embarked on a lot of “do and let them see me “ projects like NATO armaments and Uncle Sam behaviors as a superpower to many smaller countries like installation of Africom in Africa . USA was literally handing checks to their citizens during Covid 19 and still give disable people upkeep checks . The funds will come from somewhere .

About export of Dollars ,there are many people involved in arbitration that’s why Nigeria banks stopped foreign used of their cards . And printing of more dollars will lead to inflation.

nairamaniac:
That's the point, at first bolded. They are not burning their house at the end of the day.
They are doing just very well upon the excessing borrowings and debts.

At second bolded, some countries especially US can get away with printing of more dollars and getting away with it.

Have you heard of QUANTITATIVE EASING(QE)?

It has to do with some policies&activities by the federal government that indirectly leads to printing of dollars to ease things up in USA.

It's one of the policies Tinubu has been talking about as at years ago.
But he has never mentioned it again from the moment he started campaigning.
Perhaps he doesn't want to received the backlash he received then when he talked about implementing it if he becomes the president.

The US Can get away with it very very well.

Dollars is a Scarse commodity in third world countries. Nigeria just recently joined those countries during Buhari's regime.

Also the opec is obligated to trade their crude oil in DOLLARS. Even to non-dollar buyers if the crude oil.


It was a past signed between USA and Saudi Arabia many many years ago.

See, the USA would never crash no matter how much dollar they print, as long as they regulate it's SENSIBLE USAGE and POLICIES to Avoid SIDE EFFECTS.

HydraFeeds:
I see sense in the US Quantitative Easing though it didn’t work in other countries like Japan ,UK and Switzerland but the problem is why loan if government can run a surplus budget ?

HydraFeeds:
Nigeria debt is just 44 trillion Naira compared to 31 trillion dollars of USA

nairamaniac:
To encourage others to loan and become indebted and inferior.

That's the answer.


USA can pay up those loans within 30years.
They didn't even need to have owed that much in the first place.
The money they make alone from countries they protect in lieu of NATO and EU is enough to have prevented them from needed those loans.

They are the biggest contractors in a lot of countries just becos of WORLD POWER presence in those countries.
I'm telling you, alot of things here don't add up with US, the debts and what they actually can do.
This is beyond the fundamental arbitrage.

another1:
Nigeria as a country has a long way to go.
What's lagos government doing with all the taxes here and there for God sake.

Skty:
U said it all......don't have anything to add.
And these urchins will be hyping nonsense

Obaseki's state not there.. the man na technocrat