This is the World Bank rewarding the present government for implementing policies that reduce wastes such as the partial removal of petsubsidies diea and an increase in electricity tariffs.

However, the governments needs to go further. I have always been a fan of shock therapy rather than the slow and steady methods.

The price of petrol needs to be completely deregulated as already done with diesel and kerosene.

Next, should be the deregulation of the price of electricity. Once electricity providers are able to charge cost reflective prices for their power, it would encourage massive investments by the Discos into upgrading their network and Gencos into building more power plants. New players will even enter the industry with this incentive.

Government should go further and slash company taxes to 15% or less. Low corporate taxes have the incredible Incentive of encouraging massive Foreign Direct Investments (FDI) into economies that apply them. Charles Soludo said if FDI totalling 5% of GDP flows in yearly, by the fifth year, the economy will be growing too fast that it would overheat.

U are not borrowing from CBN but u are borrowing from World Bank.

Borrow borrow 😛

adenigga:



Source: https://punchng.com/Nigeria-set-to-receive-fresh-$2.2bn-World-Bank-loan-Edun

What's the money for and how do we plan to pay it back in 20 years? If crude oil is totally out of fashion by then, what will be our forex sources to pay it back?

CodeTemplar:
between then and now, subsidies have been removed. Forex subsidy. Petrol. Electricity.
Next is education and health. Then they will get a huge loan to loot for their efforts towards positioning Nigeria for recolonisation.

education subsidy have been removed hence the sharp increases in school fees.

nairalanda1:


He's still right.

The big countries work because they massively export manufactured goods and services.

Look at the world's reserve currencies. None of them come from oil dependent nations like nigeria

Obviously he's right in saying that manufacturing is the way to go, everyone knows that. That's not the issue Herr, the issue is what did he do towards that goal, what and innovative ideas did he bring to manufacturing when he was Governor.
It's very easy to profess solutions to problems by just talking but what have you done practically to solve those problems when you were in charge?
Anyone with an ounce of brain knows that manufacturing is the way out, but it's not by just talk. It takes new inventions, and a whole lot more than just talk to make it a reality.
Show me what you have done in the past when you had the opportunity, not.just making promises of what you will do.

Melagros:
COMRADES, this is the government which vowed never to borrow a dime, unfortunately, reverse now is the case

Seems they say alot of things which turns out to be false the next moment. I am starting to loose faith in this administration like most Nigerians. Dont they reaize people are seeing through this? i pray THEY PROVE US ALL WRONG

toltee4real:
Borrowing again?

Over dependence by leaders on proceeds from crude oil purges a country. Every four years, presidential aspirants line up in Nigeria. What most of them line up for is get apex political power in Nigeria to control oil revenues. The candidates who have the right prescription to solve the borrow borrow syndrome are rigged out of the election contest by ethno-religious bigots.

Tunde835:
The purpose of the loan is to make your mother cum.

If you had regard for your parents you wouldn't be this derogatory and vulgar at someone's mother.But I'm not surprised there are some products of misused and biological mistakes marauding on this forum.

Melagros:
COMRADES, this is the government which vowed never to borrow a dime, unfortunately, reverse now is the case

Interest on the loan is only 1%, so it's not hard to repay.

When did the government say it will never borrow a dime?

nairalanda1:
Hmm

Im gonna post this there. Do not read by the way



FOR THE SOURCE GO HERE


WE ARE going to borrow and keep borrowing until we follow Obi and Moghalu advice and...manufactured goods and services, and allow the free market work its magic in the power and petrol sector which means removal of subsides and cost reflective tarrifs...like some other African country...

The same way ANAMBRA followed HOEBI for good 8 years and increased their poverty rate to 50% right

IPIGSRSHALLOW:

Taking advice from a trader who is all talk and no action?
What manufacturing has Obi ever initiated besides Hero beer?
Anyone can say and promise anything, but what have you done previously when you were in power?

Amanbla is known for it's famous brown metro line.

nairalanda1:


They can't stop borrowing, unless they diversify the economy and improve taxation to gdp ratio, and crucially...manufactured goods and services.

In the area of taxation and increasing revenue, this government is trying.

I won't be surprised if they increase revenue by at least 3% of GDP by 2027.

The chief worry is that while OBJ eschewed debt, Tinubu has never hidden his love for debt as long as it's sustainable. This one can glean from the economy of Lagos.

Borrowing should be your last option.

Kingluqman:
Abeg, Na every month Nigeria dey take loan ?

I don't know between me and Nigeria who take loan pass

The hardship of removing the stupiid subsidy was for what?

I am sorry for the borrowers themselves

Yorubaponudanu:

Are you not in Nigeria 🇳🇬? Or you never eat your Agbado

When? It's almost impossible for an economy like Nigeria not to borrow.

When Tinubu assumed office, over 90% of government revenue was going to servicing debt.

Where is the money to run the government come from?

[quote author=Yorubaponudanu post=129560273] We Yuriba are the most f00|isshness tribe in African , no cap

Agapeunit:
Pls my oga,can u explain ds more in a layman's language,i am not a financial student but really wanna understand ds ur comment. Thank u

In other words , we got to export more than just oil.

Thieves set to receive free money

Which country is this pls

We are tired of giving them loans. Since 2015...

Tunde835:
E pain am. Bullet enter. Ipig obedient

The real pig is you because it is typical of it to sling mud indiscriminately even without regard for its owner.No matter how you clean up pig he will still wallow in deep mud in a twinkling of an eye.