₦airaland Forum

Ibime:
Bond and loan na the same thing, except a bond is more easily traded between third parties and often has slightly less interest. Defaulting on bond payments is worse than defaulting on a loan to say IMF though because the minute you default on bond, the markets will attack your currency, while the IMF and other Nation creditors are more forgiving

Nigeria should take heed from Cuba's experience. Cuba owed Japan and the Paris Club of nations 85% of their debt and the other 15% to private markets. Japan and Paris Club forgave Cubas debt for pennies on the dollar, while their private Creditors sold their debt on to Vulture funds. Those Vulture funds are pressing Cuba neck today and wrecking their economy for that money. In summary, it is better to owe another nation or group of nations (who often forgive debt - see how George Bush forgave all African Countries debt in OBJ era), than to owe private entities in the form of bonds.

The incoming administration is already dead. All Nigerians should open dollar account with whatever they are not using to protect themselves

Ibime:
He mortgaged the future

Buharis only selling point as a leader is that he could always execute projects (building our refineries, Petroleum Trust Fund) etc. In the absence of Govt revenues, he has played to his old stereotypes, chasing projects upandan when it is not judicious to do so. Unfortunately, Tinubu is playing to the same populism.

Being a leader during times of reduced revenue is not sweet. It's a time to cut your cloth to size and be honest with the people. Unfortunately, not many leaders are capable of this.

One of the best examples of a leader that can implement austerity is David Cameron, the former British Prime Minister. Nigga was so good at it, he campaigned on "austerity" and cutting spending.

Emmanuel Macron is also good at telling people what they don't want to hear. Currently he is telling the French they have to up retirement age to 64 thus adding two more years of tax-bearing years to Govt revenue while simultaneously removing 2 years of pension payments. The lazy French are busy rioting about it, while most countries retire at 65 to 67.

Amoto94:
Nigeria is broke anybody telling you otherwise is a big liar, for a start we need to reduce our recurrent expenditure that consist of salaries and overheads of various MDAs. We are spending scarce resources on unproductive workforce that's less than 20% of our entire production.
The dilemma is politicians wont do this because they will be serious outrage which may cost you electoral victory ( cue in el-Rufai and Oyetola, even Yayaha Bello attempted to trim the wage bill that went unsuccessful) so many are afraid of taking the painful, difficult but necessary steps needed for sustainable growth and development. I'm an advocate of lean and efficient government but I understand the challenges to implement such in a country like ours where people see government as chop I chop venture

TrebleChamp:
Buhari and his people have finished this country....

https://twitter.com/realkelvin07/status/1653822556372082690?t=jsMHSvOYHgRrL7YgM-DOCw&s=19[/quote]I already posted it here yesterday.
Lmaooo you see as the apc court jester dodge am because na pictures and banter them sabi😂😂😂.

Oghene.
I nor even understand how we go come out of this mess like this

Amoto94:
Nigeria is broke anybody telling you otherwise is a big liar, for a start we need to reduce our recurrent expenditure that consist of salaries and overheads of various MDAs. We are spending scarce resources on unproductive workforce that's less than 20% of our entire production.
The dilemma is politicians wont do this because they will be serious outrage which may cost you electoral victory ( cue in el-Rufai and Oyetola, even Yayaha Bello attempted to trim the wage bill that went unsuccessful) so many are afraid of taking the painful, difficult but necessary steps needed for sustainable growth and development. I'm an advocate of lean and efficient government but I understand the challenges to implement such in a country like ours where people see government as chop I chop venture

Forget borrowing. Borrowing is not a problem.

izzou:
[color=royalblue]Sorry sir, but i disagree with you.

This is my masterpiece reply to you[/color]

Amoto94:
Prospa do you work in the public sector will be fine to be used as sacrificial lamb with others in an austerity measure move? Will the NA approve of such, what about the business community?

liveLongNprospa:
I already posted it here yesterday.
Lmaooo you see as the apc court jester dodge am because na pictures and banter them sabi😂😂😂.

Oghene.
I nor even understand how we go come out of this mess like this

liveLongNprospa:
Lmao you are talking politics.
The numbers do not care about your political career.

It's like you have not dipped how bad it is that you are talking about politics 😂😂.
Sacrificial lamb ni

BlueRayDick:
When we talk about how financially reckless our leaders are, when we talk about how we pay our legislators humongous salaries for doing nothing , when we talk about governors of extremely poor states buying vehicles over 400k dollars, when we talk about government refusing to cut down overhead expenses on frivolous things….etc. Our resident defenders of government will carry calculators and start telling us those spendings are insignificant in the overall scheme of things and won’t do much to alleviate our financial problems as a country even if the monies are not spent on those things.

A government that has been unfortunate to be faced with dwindling revenue is supposed to be wise enough to know that when u borrow money , U are supposed to be wise with it and not spend it lavishly like u’ve been doing in the past. U are not supposed to be spending like previous governments were spending when there was boom.

For a government that came with the promise of overall change in the way things are being done, APC has not only failed woefully but have used their insensitivity to create more problems for the country . One of such problems is the judgement debts the clueless Attorney General Malami has been unable to find solution to. The PI & D judgement will likely cost us 30% of our $37billion foreign reserve; recently the court also ordered Buhari led government to pay the NNPC guy Araraume N5billion for what ? Cos Buhari either doesn’t get legal advice from Malami or doesn’t listen to him.

Nigeria has wasted billions thus far trying to set up a national carrier ; Nigeria air that only exists on paper and front of fez cap. The minister of aviation has spent 12 billion on 10 fire trucks .Buhari promised to reduce number of planes on the presidential fleet with the intention of cutting cost….. we how that has remained an Herculean task for him.

But it’s okay to borrow . It’s okay to use 96% of ur revenue to service debts. It’s okay to borrow to pay salary of an over bloated civil service ,they have prune down in order to have a true picture of things .

We go dey alright las las.

Amoto94:
I'm not talking politics I'm only telling how things will play out. Numbers dont care about politics but you cant separate politics from economy

Amoto94:
Imagine the outrage if FG due paucity of funds failed to pay salaries for months and asking its staff to go?

TrebleChamp:
I didn't see it, APC asslickers will not comment na since it's isn't about posting meme. Larride is more sensible and understand the damage Buhari has done to Nigeria. As for Dayo and the smiling emoji dude, it's is a game or competition to them that they think they are winning....

liveLongNprospa:
I cannot separate politics from the economy lmaooo.
I agree but politicians can shield themselves from this eventual bleeped up situation.

Country Don almost die finish but this man never realize the kind drastic action dey needed to sort it all out

TrebleChamp:
I didn't see it, APC asslickers will not comment na since it's isn't about posting meme. Larride is more sensible and understand the damage Buhari has done to Nigeria. As for Dayo and the smiling emoji dude, it's is a game or competition to them that they think they are winning....

Amoto94:
We all saw how the attempt to regulate monetary supply panned out the economy almost crumbled within the space of weeks sometimes the solutions we are proferring are only good on paper

liveLongNprospa:
Lmao.. Person say make we nor make enemies in the name of politics..

For once just think beyond your party.
Just for once na beg people dey beg.
Omo this shit is painful.

Being born a Nigerian is already being 2-0 down against life especially for people not born into money.

Now imagine what it's like😂.

Amoto94:
Borrowing is actually not a problem, but how are you going to repay the borrowed funds? And what are you borrowing for? Is the time right for borrowing and what would you have done differently?

liveLongNprospa:
Guy
We had so many times to get it right post oil boom.
You dey borrow to do projects wey nor dey return any form of investment because you want to win election.
You dey print naira like say you be US lmaoooo.

The thing that scares me the most is the incoming admin is planning to make what buhari did legal and finance even more projects like that😂😂😂.

Nigeria in the last 8yrs personally decided that if doomsday doesn't come to us, we will go to doomsday😂😂😂. And boy did we run to doomsday with rocket launchers in our boots🤭