₦airaland Forum

Nothing hurts like having a nonentity head a government. We tried it with the Daura man, Nigerians especially SW & the North didn't learn a single lesson.

Today, transporting a herd of goats & cattle from Northern states to Some Southern States like Oyo, Ekiti now demands armed escort as Ebi pa won goes on full throttle!

Even the loan which made Asiwaju so hard heart might be cancelled, because according to them, the druggie ain't doing enough.

Bretton Woods Institutions are all carrying out Fiscal Policy of the Developed world, and it's all geared towards one Goal: Advancement of the white race. The colored race or Asians have somewhat broken free from them.

It will take the effort of a man, who has no criminal past, nor dependent on the benevolence of their hospitals to actually confront them. Asiwaju clearly isn't this man.
Brace up comrades, they hold Asiwaju for brocus. He ain't gonna do anything for the remaining two plus years. It's confirmed.

Hear what Messr Tunji wrote:

World Bank has warned Nigeria that it could cancel a $1.5 billion loan unless the country meets strict economic reform criteria, including fiscal transparency and VAT rate increases.
Nigeria has taken initial steps like raising gasoline prices and launching cash transfer programs, but must fully comply with macroeconomic policies to secure the loan.
The loan includes an IDA credit and an IBRD loan with long-term repayment terms, contingent on Nigeria’s adherence to specified conditions and deadlines.
The World Bank has indicated that it may cancel a significant loan of $1.5 billion if Nigeria fails to adhere to specific requirements outlined in the financing agreements.

This is according to the financing agreement documents for the Nigeria Reforms for Economic Stabilization to Enable Transformation (RESET) Development Policy Financing Program (DPF) project, seen by a source at *****



The documents were signed by Nigeria’s Minister of Finance, Wale Edun and World Bank’s Acting Country Director for Nigeria, Taimur Samad.

The $1.5 billion loan comprises two separate agreements between Nigeria and the World Bank: An International Development Association (IDA) credit of $750 million and an International Bank for Reconstruction and Development (IBRD) loan of $750 million.

One of the documents read: “No withdrawal shall be made of the Single Withdrawal Tranche unless the Bank is satisfied, after an exchange of views as described in paragraphs (a) and (b) of Section 3.01 of Article III of this Agreement based on evidence satisfactory to the Bank: with the progress achieved by the Borrower in carrying out the Program;
that the macroeconomic policy framework of the Borrower is adequate;
that the actions described in Section I.B [which are the key requirements presented in the next section of this report] of this Schedule have been taken.
“If, after this exchange of views, the Bank is not so satisfied, it may give notice to the Borrower to that effect and, if within ninety (90) days after the notice, the Borrower has not taken steps satisfactory to the Bank, with respect to paragraphs (a), (b) and (c) above, then the Bank may, by notice to the Borrower, cancel all or any part of the Unwithdrawn Loan Balance.”

This means that the borrower can only withdraw a specific loan tranche if the bank is satisfied with the program’s progress, the macroeconomic policy framework, and required actions; otherwise, the bank may cancel the remaining loan if concerns are not addressed within 90 days.

The document highlighted the existing macroeconomic reforms made already by Nigeria, such as increasing gasoline prices, removing certain tax allowances, introducing new taxes, eliminating a negative import list to improve affordability and trade, and improving revenue remittance systems. It also noted the measures in place to protect the poor and economically insecure through a targeted cash transfer program.

Key Requirements
Both IDA Credit and IBRD loan agreements have the same requirements, according to the loan agreement documents obtained from the World Bank.

The actions to be undertaken under this loan project include the following:

Presidential Executive Order: A mandate for all fiscal transfers to the Federal Government, including those from crude oil sales and gasoline imports, to be executed at the prevailing market exchange rate within a specified implementation period.

Value-Added Tax (VAT) Reforms: Submission of a draft bill to the National Assembly to progressively increase the VAT rate to at least 12.5% by 2026 and allow input tax credits for capital and services.

National Social Investment Program Bill: Submission of a revised bill to the National Assembly mandating the use of the national social registry as the primary targeting tool for social investment programs.

Loan Repayment Terms
IDA Credit Repayment Terms: The principal amount of the $750 million credit is to be repaid in equal installments on April 15 and October 15 each year, commencing October 15, 2030, and concluding April 15, 2036. It starts with repayments of 8.33334% of the principal amount, with the final installment slightly adjusted to 8.33326%​.

There is a maximum commitment charge rate of 0.5% per annum on the unwithdrawn financing balance.

IBRD Loan Repayment Terms: The principal amount of the $750 million loan is to be repaid semi-annually on April 15 and October 15 each year, starting October 15, 2035, and ending April 15, 2048. The installment for each repayment date is set at 3.85% of the total principal amount, with a slight adjustment to 3.75% for the final payment.

There is a front-end fee of 0.25% of the loan amount, totaling $1,875,000, and a commitment charge of 0.25% per annum on the unwithdrawn loan balance.

What you should know
So far, Nigeria has made progress in some areas, such as increasing gasoline prices and beginning the implementation of cash transfer programs. However, continuous monitoring and adherence to the agreed reforms will be done to ensure the continued availability of funds.

The World Bank team is expected to closely monitor Nigeria’s compliance with these conditions. The government must demonstrate a strong commitment to implementing these reforms to avoid the risk of losing the $1.5 billion loan, which is vital for the country’s economic stability and growth.

Both financing agreements include stringent audit and reporting requirements to ensure transparency and accountability.

Culled from a post written by Sami Tunji; a writer, financial analyst, researcher, and literary enthusiast. Aside from having expertise in various forms of writing (creative, research, and business writing), he is passionate about socio-economic research, financial literacy, and human development. Currently, he is a financial analyst at Nairametrics and an African Liberty Writing Fellow 2023/2024.

Nigerians wake up!
This is why Multinational Corporations are counting their losses and calling it quit until situation improves through another Govt. They all knew the enormity of slavery agreements, Asiwaju Govt is entering al in the name of loans, coupled with the ones the Daura cl*wn took for eight years!

Buhari killed Nigeria, Tinubu has buried it.

My happiness is that every Nigerian will certainly enjoy the dishes coming out from Tinubu's kitchen including those singing his praises now. Time shall tell.

It will be more painful for his supporters because those who didn't support him are already prepared for the disaster coming.

For those who genuinely desire a better Nigeria, a prosperous Nigeria, a Nigeria whose leaders are accountable, and dedicated to their duties, and above all, those leaders who truly love those they are leading, our patience will not be in vain. In the next three years, we shall come out again by HIS grace for another round of elections, and nothing will stop the Nigerian's choice of leaders from emerging victorious.

May God bless Nigeria.

Obiedence/ipobs una weldon

Nigeria is already in hole, instead of Asiwaju to do something better, he's digging while inside the hole.

The situation will get messier, more difficult for others to correct. But men with iron balls can correct it.

This is the grim situation: NIGERIA is dead broke. NIGERIA can not afford infrastructural Development. Nigeria can only manage to stay Focus and pay only salaries. Trying to build more infrastructures would mean borrowing, now, it's here through borrowing spree, they can actually loot.

If Asiwaju is alive to his responsibility, which off course I doubt, he'd have to stay off building white elephant projects like the coastal highway ( Don't forget we warned about Ameachi - Buhari White elephant phantom railroad to Niger Republic, a country with almost zero Economic potential to warrant NIGERIA taking loans to connect them). What became of the Daura Niger railroad? Hahaha 🤣🤣🤣🤣🤣🤣.

Wise people listen to wise people, that's why despite having just over 10 kilometers between Europe and Africa, those wise people never connected it via rail or road. But would rather build underground or underwater railroad to where ever is Economically good!

The best Asiwaju can do is mapping out viable infrastructures, RoI and getting international investors to build it. This is the Technics Rwanda uses!

For instance, investors build the Lagos coastal highway and tax the users. If you don't use, you don't pay!

But, wetin Bigkoko Sabi sef? Builder of Lagos is in charge...lol

OP, if you don't go and concentrate on your life, definitely you will end up begging for food like those before you

The future is bleak with Tinubu at the helm of affairs.

Just like you and your family is already begging for food, right? But unlike you and your family, the Op currently lives in two continents, Africa and Europe, has health insurance, unemployment insurance, is sure of his children having fun while schooling up to varsity level, free on the country's welfare system and best of all has a gigantic LLC that has enormous benefits for his next of kins should he die some day (a policy funded with 10% of his monthly earnings, something I used to dash Nigerian prosperity gospel pastas years ago!)

So my dear, if you don't learn & hustle, you will end up, first like Reno Omokri who can not buy common shoe polish but would rather blame innocent shoe makers,and lastly look for skull to mine!

StreetFight:
OP, if you don't go and concentrate on your life, definitely you will end up begging for food like those before you

I was wondering why Multinational Corporations were leaving in droves....this is it!

They've been tipped off. Statistics don't lie.

Bobloco:
The future is bleak with Tinubu at the helm of affairs.

NIGERIA is already blessed, but ediots are in charge, so I do not see how that blessings would manifest!

Oxb90:
Buhari killed Nigeria, Tinubu has buried it.

My happiness is that every Nigerian will certainly enjoy the dishes coming out from Tinubu's kitchen including those singing his praises now. Time shall tell.

It will be more painful for his supporters because those who didn't support him are already for the disaster coming.

For those who genuinely desire a better Nigeria, a prosperous Nigeria, a Nigeria whose leaders are accountable, and dedicated to their duties, and above all, those leaders who truly love those they are leading, our patience will not be in vain. In the next four years, we shall come out again by HIS grace for another round of elections, and nothing will stop the Nigerian's choice of leaders from emerging victorious.

May God bless Nigeria.

BigkokoRep:
I was wondering why Multinational Corporations were leaving in droves....this is it!

They've been tipped off. Statistics don't lie.

Nah statistics we go chop?... Bola Ahmed Tinubu(2023)

StreetFight:
OP, if you don't go and concentrate on your life, definitely you will end up begging for food like those before you

And you had already concentrated on your own life. Happy slave

Bruhnnn..... Karma don dey force everyone to chop statistics ohhh, including Asiwaju & Baterians!

phorget:
Nah statistics we go chop?... Bola Ahmed Tinubu(2023)

No be three years remain again? Na two years and some months ohhh!

It reminded me so much about the same cl*wns who supported Buhari for eight solid years defending him all through because they're sufersticated, sorry, sophisticated!

Now, they're bent on defending this slowpoke who according to Aisha, spent all his time strategizing on how to rig but saved zero time to strategize on how to lead!

Nigerians ntoor, but we can still do something!

Papa wey no gree rest make younger, stronger children lead the clan, na drag them dey drag until he comot!

Religion of peace strick again



https://www.youtube.com/watch?v=94jHGT5Fxlk?si=eukHErrBfbQ8DV6I

These are good steps taken by the World Bank..

My only problem with Nigerian leaders is their kléptomaniac nature.. borrowed moneys are stolen without shame..


Sheer act of unpatriotism and wickedness.

BigkokoRep:
No be three years remain again? Na two years and some months ohhh!

It reminded me so much about the same cl*wns who supported Buhari for eight solid years defending him all through because they're sufersticated, sorry, sophisticated!

Now, they're bent on defending this slowpoke who according to Aisha, spent all his time strategizing on how to rig but saved zero time to strategize on how to lead!

Nigerians ntoor, but we can still do something!

Papa wey no gree rest make younger, stronger children lead the clan, na drag them dey drag until he comot!

.

Baba seriously Nigeria is under siege. I don't know anybody in their right sense that will support this clown. From army mapping and survey barrack at Owode Idiroko where I residence, to enter my farm during Buhari period cost me 500# but now it cost me nothing less than 1500#. The proforce product we use to buy under Buhari for 3500# or 2500# depending on the maker now cost 7500 or 8000 and I need almost 120 PCs. 30 by 120 feet land clearing we do for like 1500 or 1800# under Buhari is now 3000# or 3500# depending on how thick the bush is and majority of people who doesn't know why farm products are costly are looking for cheap things.

Sir I tell you anybody that vote for APC 2027 need to go for medical checkup at either Yaba left or Aro. The suffering know be hereoooo.

My dear, I share your concerns. It's really going to be tough, because Economic indices has put it to be so, that's why Multinationals are cutting down their losses and fleeing NIGERIA.

villagereporter:
.

Baba seriously Nigeria is under siege. I don't know anybody in their right sense that will support this clown. From army mapping and survey barrack at Owode Idiroko where I residence, to enter my farm during Buhari period cost me 500# but now it cost me nothing less than 1500#. The proforce product we use to buy under Buhari for 3500# or 2500# depending on the maker now cost 7500 or 8000 and I need almost 120 PCs. 30 by 120 feet land clearing we do for like 1500 or 1800# under Buhari is now 3000# or 3500# depending on how thick the bush is and majority of people who doesn't know why farm products are costly are looking for cheap things.

Sir I tell you anybody that vote for APC 2027 need to go for medical checkup at either Yaba left or Aro. The suffering know be hereoooo.

This stringent measures are what Judiciary and National Assembly ought to have in place, not an external Body. And if 80% of the loan sum won't be laundered, I'd have said carry on!

But, like the Highway of Fraud, purportedly going to link Lagos to Coastal states, this one too will end up looted!

Kelklein:
These are good steps taken by the World Bank..

My only problem with Nigerian leaders is their kléptomaniac nature.. borrowed moneys are stolen without shame..


Sheer act of unpatriotism and wickedness.

BigkokoRep:
This stringent measures are what Judiciary and National Assembly ought to have in place, not an external Body. And if 80% of the loan sum won't be laundered, I'd have said carry on!

But, like the Highway of Fraud, purportedly going to link Lagos to Coastal states, this one too will end up looted!

Kigali Gift Card Scammer turned Nairaland Wailer, Your President Alhaji Bola Tinubu dey Show u pepper abi?

Without Tinubu the digital Almijiris no fit better their lives?

Bunch of Empty Barrels.

Wow... look at this common scammer. Too bad nairaland is faceless forum where all sorts of criminals operates annonymously and supports the president of Nigeria; Alhaji Bola Tinubu... This criminal too, is also supporting Asiwaju! . Chai, Nigeria, the Giant of Africa don suffer for Asiwaju & his hordes of supporters who are mostly jobless impersonators and scammers.

Well, like a druggie president, like his low lives criminals. Sewer rat wey never enjoy the luxury of four hours light before, nor the comfort of a Smart Tv with cable connects..... I guess you don charge your phone well?

A US drug offender better who life? Nairaland scammer & impersonator, not everyone depends on Asiwaju 30k per month. I bet you, I am richer and more prosperous than Asiwaju when he was my age..... Even up to now, my net worth is transparent with trails on how I make money, can you tell me how old Asiwaju is, his real name or his state pof origin?

what a shame, that this cl*wn is depending on Asiwaju to better his life......hunger go finish you! Criminal wey wan chop free gift card. Hahaha... if them born you well, show your face na, make I used you do sacrifice to security agents for Nigeria....... hahahahaha

blacknp:
Kigali Gift Card Scammer turned Nairaland Wailer, Your President Alhaji Bola Tinubu dey Show u pepper abi?

Without Tinubu the digital Almijiris no fit better their lives?

Bunch of Empty Barrels.

StreetFight:
OP, if you don't go and concentrate on your life, definitely you will end up begging for food like those before you

The way you're already begging with this your 30k a month zombiie work ba?

BigkokoRep:
Just like you and your family is already begging for food, right? But unlike you and your family, the Op currently lives in two continents, Africa and Europe, has health insurance, unemployment insurance, is sure of his children having fun while schooling up to varsity level, free on the country's welfare system and best of all has a gigantic LLC that has enormous benefits for his next of kins should he die some day (a policy funded with 10% of his monthly earnings, something I used to dash Nigerian prosperity gospel pastas years ago!)

So my dear, if you don't learn & hustle, you will end up, first like Reno Omokri who can not buy common shoe polish but would rather blame innocent shoe makers,and lastly look for skull to mine!

You really gave the abgero an upper cut...!!!

I believe the guy doesn't even understand the write up, all he saw was Tinubu and he went straight to agbero mode...!!

A confirmed Fake news propagated by Bittered IPOBidient from jubril to druggie APC will continue to win election PBAT will complete his 8 years in office just like PMB while you wail and languish in poverty.

politician edence/Nigerian una weldon

BigkokoRep:
Wow... look at this common scammer. Too bad nairaland is faceless forum where all sorts of criminals operates annonymously and supports the president of Nigeria; Alhaji Bola Tinubu... This criminal too, is also supporting Asiwaju! . Chai, Nigeria, the Giant of Africa don suffer for Asiwaju & his hordes of supporters who are mostly jobless impersonators and scammers.

Well, like a druggie president, like his low lives criminals. Sewer rat wey never enjoy the luxury of four hours light before, nor the comfort of a Smart Tv with cable connects..... I guess you don charge your phone well?

A US drug offender better who life? Nairaland scammer & impersonator, not everyone depends on Asiwaju 30k per month. I bet you, I am richer and more prosperous than Asiwaju when he was my age..... Even up to now, my net worth is transparent with trails on how I make money, can you tell me how old Asiwaju is, his real name or his state pof origin?

what a shame, that this cl*wn is depending on Asiwaju to better his life......hunger go finish you! Criminal wey wan chop free gift card. Hahaha... if them born you well, show your face na, make I used you do sacrifice to security agents for Nigeria....... hahahahaha

Wonders will never end, Kigali gift card scammer, you too they wait for President Tinubu to come & better your existence for you abi?

Blacknp this Nairaland Criminal 🤣🤣🤣🤣🤣🤣.... I be like corn-fed idiot for your eyes? Or I be like who dey live for brown roof region? Hahaha 🤣🤣🤣🤣🤣 Na ediots like you dey wait for Asiwaju to better their life, hence the cry of Ebi pawo!

No serious person even dey support the druggie again. Only Gift Card thief like you!

By the way, no light to charge your phone? This one your phone dey off wetin happen? Dem don drive you from where you go watch Match? Haha 🤣🤣🤣🤣🤣. Nairaland Thief!

Jobless and lazy 🤡! No worry since Seun no wan do the needful to permanently ban you here, police go soon get you! If you like dey use support of Asiwaju as cover for your scam & impersonation on nairaland, hand go still touch you!

I know say no body for your generation don enter Plane before, however, anytime Asiwaju come Kigali tell am make he ask of the King of Business Support in East ~ Bigkoko, or the day he dead manhood carry am reach Scandinavia, tell am to ask of Bigkoko. ODOGWU no be for low lives like you!

blacknp:
Wonders will never end, Kigali gift card scammer, you too they wait for President Tinubu to come & better your existence for you abi?

The moment they hear Asiwaju, they activate their agbero mode!

Floky215:
You really gave the abgero an upper cut...!!!

I believe the guy doesn't even understand the write up, all he saw was Tinubu and he went straight to agbero mode...!!

tunde1200:
Obiedence/ipobs una weldon

Your name na tunde and u still dey behave like tunde wey mumu.So any body who complain oh hardship is automatically ibo abi?mugu

ccrenda5540:
A confirmed Fake news propagated by Bittered IPOBidient from jubril to druggie APC will continue to win election PBAT will complete his 8 years in office just like PMB while you wail and languish in poverty.

And you will continue to suffer like job in the Bible.mugu

Upon all these wailing and gnashing of teeth from yeebos, Peter Obi will not win