₦airaland Forum

68816419:
God forbid !!!, what pride does one take from making losses for over 10 years ? Wouldn't it be preferable if they were liquidated? I have no idea why this swindle exists. Ghanaians, Nigerians and even Tanzanians in the house please I need answers to thix

🤣😂

The worse is happening in that broke country Kenya

How Kenya ended up in this mess

It spent the last 7 years borrowing to pay salaries just like I told the dumb Kenyans here 5 years ago


It is a no brainer that you'll have to borrow to pay salaries when 110% of revenue went to just debt servicing and wages as far back as 2016

The Sri Lanka path is paved with roses for the politicians but a thorn wood path for the citizenry to get wrecked

West Africa zoos would die to borrow at less than 13% annually. Last I checked both were doing annual interest rate of more than 30% percent.

https://www.businessdailyafrica.com/bd/markets/capital-markets/average-lending-rate-crosses-13pc-for-first-time-since-2018-4193790

The average commercial bank lending rate breached the 13 percent mark for the first time since July 2018 in the wake of the Central Bank of Kenya (CBK) benchmark rate hikes and rising yields on government paper.

CBK data show lending rates jumped from 12.77 percent in January to 13.06 percent in February—the highest level in 58 months.

You mean you guys are still arguing with rvp2018?😅😁😁

We never have any meaningful arguments. It me teaching Zoogerians - both big and small one. You can only argue with peers. Most of you have IQ half mine or for you - even worse.

theenchanter:
You mean you guys are still arguing with rvp2018?😅😁😁

theenchanter:
You mean you guys are still arguing with rvp2018?😅😁😁

😂🤣
Naa we don't argue with dumb people who knows nothing

You can only educate them, it is up to them to take it or not.
But knowing the attitude of fool*s they mostly abhor knowledge

Mkenya2019:
Anything above 33% mean you're on your knees.
Therefore 80 percent or 120 percent isnt going to help Nigeria.
What we need to know is how Nigeria is able to finance salaries,recurrent expenditure and development if any.
They are either borrowing more and more
Or they arent doing any development - which is likely the case - as Nigeria the Zoo has rotten without any roads being maintained or built
Also despite sky high inflation - salaries have not been raised.
We saw lecturers last year strike for almost a year - with universities closed.

In short Nigeria is a ZOO precisely because it uses 80-120 percent of it's revenue to pay debt leaving it with nothing for social, infrastracture or any investment - no electricity, poverty, sky high inflation, millions of kids outside schools, kidnapping. nothing works.

Kenya has to avoiding getting there - and go back to below 33% debt servicing ratio - like we have always been - except for last few years.

And kenya will be back healthy in 2025 - we have tough 2024 - then by 2025 our macro-economics will be very solid - we will have brought debt to gdp to 55%; we will have budget surplus on recurrent expenditure,

we will be spending 33% on debt; 33% on development; 33% on salaries, operation & maintenances.

That is how an individual or company or a country is supposed to run 1/3 spend on debt, 1/3 to O&M, 1/3 on investment.

You are fvcking hilarious. In 2022, how many African countries came close to Nigeria in all round spending and infrastructure development?
NNPC is even drilling new oil fields in several Northern states by themselves ( not a small thing to do).

Lagos is almost completing a red line train covering several areas of Lagos ( that began 2021) after first phase of blue line.
State Governors commissioned projects upon projects, roads upon roads. Several gas projects worth billions of dollars ongoing. Renovation of Airports, etc.

You can't just borrow alone to do all of these. If we just borrowed more only, we would have been bankrupt now with all of these projects and the allocation from Federal Government without fail for salaries and other things. What was the increase in our total debt in 2022 compared with the over 20 Billion dollars released as allocation in addition to several ongoing projects? Let's argue with logic.

GeneralDae:
You are fvcking hilarious. In 2022, how many African countries came close to Nigeria in all round spending and infrastructure development?
NNPC is even drilling new oil fields in several Northern states by themselves ( not a small thing to do).
Lagos is almost completing a red line train covering several areas of Lagos ( that began 2021) after first phase of blue line.
State Governors commissioned projects upon projects, roads upon roads. Several gas projects worth billions of dollars ongoing. Renovation of Airports, etc.
You can't just borrow alone to do all of these. If we just borrowed more only, we would have been bankrupt now with all of these projects and the allocation from Federal Government without fail for salaries and other things. What was the increase in our total debt in 2022 compared with the over 20 Billion dollars released as allocation in addition to several ongoing projects? Let's argue with logic.

The Kenyans are yet to learn this common sense.... This is the Singaporean approach

No debt, all development out of one's own pocket... This is prudent

Just40:
😂🤣
Naa we don't argue with dumb people who knows nothing

You can only educate them, it is up to them to take it or not.
But knowing the attitude of fool*s they mostly abhor knowledge

Gotcha. Keep doing the good work their class teachers failed to do.😁

Mkenya2019:
We never have any meaningful arguments. It me teaching Zoogerians - both big and small one. You can only argue with peers. Most of you have IQ half mine or for you - even worse.

what did u learn yesterday? Hope u won't forget what u'll learn today too?🤷

theenchanter:
Gotcha. Keep doing the good work their class teachers failed to do.😁

🤣😂🤣

I won't be here forever... They better learn fast

You're arguing with your own data or why you're getting hot on your collar.
If Nigeria is spending 80% (let me take the lowest ) of it's revenue to repay debt - then it barely has money to pay for salaries, electricity, build roads - without significant borrowing
If we take the realistic figure of 100% plus debt servicing ratio - then Nigeria is of course the Zoo we know.
The zoo where a project like that 14km redline takes 10yrs.
Projects in Nigeria take average of 20yrs - the country is littered with Julius Berger towns.
You know why projects take years - because Nigeria gov cannot release funds on time.
It literally has to wait for oil windfall - when oil prices rises so high - it get surplus funds.

Otherwise look at your country - compare it to say Kenya - where projects are done on time, quality and on cost. Do you hear of Julius Berger towns - where contractor camp site turn into towns - as contractors take 20yrs to complete simple projects.

And of course why is a Nigeria a ZOO where nothing works - because it's macro-economic are crazy - lowest revenues (similar to kenya) - huge debt (compared to revenues) - almost nothing works - you better walking through Sahara otherwise your misplaced anger here should be directed to Zoo gov that cant provide almost anything.

The best way to know if you come from a zoo - try to turn on your electricity or water - and let us know.

GeneralDae:
You are fvcking hilarious. In 2022, how many African countries came close to Nigeria in all round spending and infrastructure development?
NNPC is even drilling new oil fields in several Northern states by themselves ( not a small thing to do).

Lagos is almost completing a red line train covering several areas of Lagos ( that began 2021) after first phase of blue line.
State Governors commissioned projects upon projects, roads upon roads. Several gas projects worth billions of dollars ongoing. Renovation of Airports, etc.

You can't just borrow alone to do all of these. If we just borrowed more only, we would have been bankrupt now with all of these projects and the allocation from Federal Government without fail for salaries and other things. What was the increase in our total debt in 2022 compared with the over 20 Billion dollars released as allocation in addition to several ongoing projects? Let's argue with logic.

Mkenya2019:
You're arguing with your own data or why you're getting hot on your collar.
If Nigeria is spending 80% (let me take the lowest ) of it's revenue to repay debt - then it barely has money to pay for salaries, electricity, build roads - without significant borrowing
If we take the realistic figure of 100% plus debt servicing ratio - then Nigeria is of course the Zoo we know.
The zoo where a project like that 14km redline takes 10yrs.
Projects in Nigeria take average of 20yrs - the country is littered with Julius Berger towns.
You know why projects take years - because Nigeria gov cannot release funds.

And of course why is a Nigeria a ZOO where nothing works - because it's macro-economic are crazy - lowest revenues (similar to kenya) - huge debt (compared to revenues).

The best way to know if you come from a zoo - try to turn on your electricity or water - and let us know.

Let me solve your puzzle for you. Nigeria has other forms of internal revenue generation and internal funding not captured officially.

Redline is 2 year old project not 10 years and redline is not 14km.

So whether 120% or 80%, we've been having such debt servicing to revenue ratio for a while and it hardly matters because they are just official figures. Clear now?

Just40:
The Sri Lanka path is paved with roses for the politicians but a thorn wood path for the citizenry to get wrecked

Phewks!!! Hobbit. you haven't got a job? Why are you so emotional?

Who is hurting you?

NOPE.
It wait for oil revenue windfalls.
When oil prices rise - above the projection - it will get a little more money - and some projects stutters to a start again
When oil prices drop - it back to living hand to mouth
Project get suspended.

The results even 14km railways takes 10yrs.

GeneralDae:
Let me solve your puzzle for you. Nigeria has other forms of internal revenue generation and international funding not captured officially.
Redline is 2 year old project not 10 years and redline is not 14km.
So whether 120% or 80%, we've been having such debt servicing to revenue ratio for a while and it hardly matters because they are just official figures. Clear now?

GeneralDae:
Let me solve your puzzle for you. Nigeria has other forms of internal revenue generation and internal funding not captured officially.

Redline is 2 year old project not 10 years and redline is not 14km.

So whether 120% or 80%, we've been having such debt servicing to revenue ratio for a while and it hardly matters because they are just official figures. Clear now?

Redline break ground in 2013, that's pretty much 9yrs - 10yrs.

Accept facts as they are. Debating is not ego massaging contest

GeneralDae:
Let me solve your puzzle for you. Nigeria has other forms of internal revenue generation and internal funding not captured officially.

Redline is 2 year old project not 10 years and redline is not 14km.

So whether 120% or 80%, we've been having such debt servicing to revenue ratio for a while and it hardly matters because they are just official figures. Clear now?

Redline break ground in 2013, that's pretty much 9yrs - 10yrs.

Accept facts as they are. Debating is not ego massaging contest!

And stop arguing about DATA
Your debt servicing ratio is SOLID DATA
Your project taking 10-20yrs is solid data

Look at the Blue Line - mere 35kms - not yet finished - phase 1 took 15yrs - phase 2 will take another 20yrs.
2008: A metro is proposed for Lagos, allegedly with a completion date of 2011.
2009: Construction commences on the Blue Line.[1]
2016: Phase I (the Blue Line from Marina to Mile 2) planned to open in December 2016.
2018: After an Alstom review of the project, Phase I (the Blue Line from Marina to Mile 2) is now set to open in 2021.
2021: The Lagos State Government announced that the Blue and Red Lines will open in December 2022.[3]
2022, January: LAMATA purchases two Talgo VIII trains.
On Jan 24, 2023, President Muhammadu Buhari inaugurated the first phase of the Lagos Mass Transit Blue Line Rail Project.[4]

Shma2023:
Phewks!!! Hobbit. you haven't got a job? Why are you so emotional?

Who is hurting you?

see his emotions all around 😂🤣

Take a bottle of changaa and stop weeping here

Just40:
The Sri Lanka path is paved with roses for the politicians but a thorn wood path for the citizenry to get wrecked

there is no way kenya will continue withholding civil servant salaries and will not end up in Sri Lankan way. It is impossible. So as a co africa member , We need a paybill number so that we can contribute cash for the civil servants salaries in kenya . Be your brother's keeper .

Their currency is already feeling the heat , falling down like an old prostitute boobs out of night occupation

That problem debating with west african morons. I am glad I only get to meet them here. They are no ground rules. Facts are not sacred to them. Anything goes.

Shma2023:
Redline break ground in 2013, that's pretty much 9yrs - 10yrs.

Accept facts as they are. Debating is not ego massaging contest

vaxx:
there is no way kenya will continue withholding civil servant salaries and will not end up in Sri Lankan way. It is impossible. So as a co africa member , We need a paybill number so that we can contribute cash for the civil servants salaries in kenya . Be your brother's keeper .

Their currency is already feeling the heat , falling down like an old prostitute boobs out of night occupation

Naa .... The days of Ghana doing that are over.

We have no free money to give you Kenya like we did in the 50s and 60s

Shma2023:
Redline break ground in 2013, that's pretty much 9yrs - 10yrs.

Accept facts as they are. Debating is not ego massaging contest!

Redline started in 2021 by this present Governor.

Blue line started in 2013 but was abandoned by the previous Governor for 4 years. The new Governor continued with it after COVID in 2020 and also kickstarted the redline same time. Now redline is almost done.

Just40:
see his emotions all around 😂🤣

Take a bottle of changaa and stop weeping here

You must be an old emotional buffoon who is disguising as a man. You can't be spitting all these emotions.

Don't have a rack attack!

Mkenya2019:
And stop arguing about DATA
Your debt servicing ratio is SOLID DATA
Your project taking 10-20yrs is solid data

Look at the Blue Line - mere 35kms - not yet finished - phase 1 took 15yrs - phase 2 will take another 20yrs.
2008: A metro is proposed for Lagos, allegedly with a completion date of 2011.
2009: Construction commences on the Blue Line.[1]
2016: Phase I (the Blue Line from Marina to Mile 2) planned to open in December 2016.
2018: After an Alstom review of the project, Phase I (the Blue Line from Marina to Mile 2) is now set to open in 2021.
2021: The Lagos State Government announced that the Blue and Red Lines will open in December 2022.[3]
2022, January: LAMATA purchases two Talgo VIII trains.
On Jan 24, 2023, President Muhammadu Buhari inaugurated the first phase of the Lagos Mass Transit Blue Line Rail Project.[4]

Take to correction. You said redline and I corrected you. So what are you on about?

Redline is not Blueline.

2009: Construction commences on the Blue Line.[1]

Why do you lie in the era of internet. Where facts are at everyone fingertips

You only succeed in stalling and wasting time.

GeneralDae:
Redline started in 2021 by this present Governor.

Blue line started in 2013 but was abandoned by the previous Governor for 4 years. The new Governor continued with it after COVID in 2020 and also kickstarted the redline same time. Now redline is almost done.

Just40:
How Kenya ended up in this mess

It spent the last 7 years borrowing to pay salaries just like I told the dumb Kenyans here 5 years ago


It is a no brainer that you'll have to borrow to pay salaries when 110% of revenue went to just debt servicing and wages as far back as 2016

I don't think tax Enough can solve the problem. They have increased tax collection , they have remove subsidy , they still end up broke .

Mkenya2019:
2009: Construction commences on the Blue Line.[1]

Why do you lie in the era of internet.

You only succeed in stalling and wasting time.

Blueline yes. Redline no.

Why so obtuse man?

Just40:
Naa .... The days of Ghana doing that are over.

We have no free money to give you Kenya like we did in the 50s and 60s

. No Free meal again .

The tenor of my argument was that project takes years - your country like Ghana is a mortuary of abandoned projects. If I was to list projects that have stalled or taken donkey years - I would run out of spaces.

Kenya we had same situation in 1990s.

Now projects get done on time - infact most of the time - way before time - because gov was LIQUID and paid contractors on time.

If we dont solve our current problems - we will go back to Nigeria - contractors will not use their money to build stuff - they will wait.

GeneralDae:
Take to correction. You said redline and I corrected you. So what are you on about?

Redline is not Blueline.