₦airaland Forum

Geffectt:
That's great

Great

People like this worked with Obasanjo. . those kinds are not usually not in presidency anymore. Even a Peter Obi will be close with such prudency.

People like Buhari, Tinubu that can borrow x5 of their current revenue. . and even misappropriating the borrowed funds. . And leave unborn children till the next 3 generations with non-payable debt burdens.

We Nigerians put ourselves where we are today with voting and appointing useless, old, selfish and incompetent leaders.

He never borrowed because he never had great heavy infrastructure on plan for his people. How can that be a bragging sense for government with vibrant infrastructural concept? Even America do borrow despite level of their riches.

State money can not do standard modern train infrastructure without borrowing, but since that is never in the agenda of anambra, you can keep bragging for not borrowing, but it doesn't help anybody. To borrow money to do giant infrastructure if judiciously utilized at very low rate makes more sense than using all the money to pay salary and petty petty infrastructure.

anonimi:
Good financial footing by putting Anambra money into Hero brewery family business?

Or by failing in his attempt to be a godfather like Jagaban? Thankfully Obiano’s smartness made Pandora Bitter Obi a homeless IDP politician who was rescued by PDP that he betrayed last year. What a useless politician Obi is.

Go and get sense

Peter Obi did very well by setting the foundation well

Willie Obiano ( Akpokuodike global) did well by managing the resources well

Building airport
Maintaining civil servants payment
Not owing pensioners etc

Go to South West states like osun, ekiti that were owning civil servants

Ogun state couldn't build decent roads example Sango Ota road a sorry state

Sayiy Tinubu did this
Let him reciprocate what he claimed to do on national level
What is stopping him?

Mtschew... You guys will just be misyarning

When the result is there for all to see

If Nigerians reason well
They should ask themselves question

tctrills:
Even in the most developed countries, the ability to live within your budget is commendable. Budget deficits are not encouraged in any economy, developed or developing.

You clearly do not understand money or finance. You are probably one of those who swear by real estate because the Naira value of your property has gone up without actually asking yourself what is the real value of the increase in Naira?

Confirmedzombie:
I see soludo decamping to APC. He is indeed a orogressive Governor.

Soludo has chased Ipob and obedient out of Anambra state.

If ibos support soludo he will be the first ibo president under APC

Is that not the same thing you people promised
Rochas Okorocha
Ogbonnaya Onu
Dave Umahi
Hopless Uzodingba
Orji Uzor Kalu.

So APC will not make these ones President rather Soludo that is yet to consider joining APC?

Una brain too small.

Confirmedzombie:
I see soludo decamping to APC. He is indeed a orogressive Governor.

Soludo has chased Ipob and obedient out of Anambra state.

If ibos support soludo he will be the first ibo president under APC

muumu

what is progressive about APC? May your family and generation enjoy that kind of progress

20 egg now 200?

Again muuumu

slaawomirr:
Damnnn niggar

Borrowers never progress

That's a wrong conclusion, when you borrow for productivity you will definitely progress.

This man can rule Nigeria better than Obi..I swear

Confirmedzombie:
I see soludo decamping to APC. He is indeed a orogressive Governor.

Soludo has chased Ipob and obedient out of Anambra state.

If ibos support soludo he will be the first ibo president under APC

Of he decides to run for president tomorrow you will remind him of how igbos can't and won't be president of Nigeria, hypocrite

So what is the big deal about that . Peter obi did not also collect any loans when he was governor of Anambra state

Lithiumite:
Can someone pls tell us how much obi borrowed while he was in same position?

I want to check something!!

🤣🤣🤣🤣🤣

Stephench:
In 2022, he sought approval from the house to borrow 100 Billion. Seems like it's not been successful yet. The report is still in line with his borrowing plans. So why debunk the obvious?

He got the approval but he didn't borrow. Anambra state governor's don't usually borrow except Willy.

Donald7610:
Best Governor from SE

He is lying

slaawomirr:
Damnnn niggar

Borrowers never progress

America says Hi!

Following

Riskymarvelous:
pele enemy of success

I don't meant to quote you m

Very uncommon to see a 3 years old governor in Nigeria that will not borrow. I have not seen such.

casualobserver:
You clearly do not understand money or finance. You are probably one of those who swear by real estate because the Naira value of your property has gone up without actually asking yourself what is the real value of the increase in Naira?

A typical Nairaland kid. You will rather insult people than discuss issues.
What do you think caused the 2008 financial crisis?
The USA is today spending 1 trillion on debt servicing 4 times more than it spends on education. Is that ideal to you?
Why do you think the economy of Japan stagnated for 30 years?
You have a long way to go my boy.
Please try to address the issues I raised if you can. No need for insults.

Namelesscoder:
Don’t be in a rush to declare yourself a good person

u better change

Making people to cry, just to make money

From the credentials of Prof. Chukwuma Soludo, his personality, unmatched academic and professional achievement is a bigger fry than Anambra State.

Prof. Chukwuma Soludo, should play on a national scale either as President, Senate President or Vice President. Nobody in the Tinubu-Led Administration comes close to him in exposure, achievements, competence and integrity.

The total Monthly allocation of Anambra State is an average of N24B and is barely sufficient to meet the huge Infrastructural Gap in Anambra State.

Prof. should not allow under-funding rubbish his reputation as Anambra would need sufficient funding from International Investors and foreign partners.

tctrills:
A typical Nairaland kid. You will rather insult people than discuss issues.
What do you think caused the 2008 financial crisis?
The USA is today spending 1 trillion on debt servicing 4 times more than it spends on education. Is that ideal to you?
Why do you think the economy of Japan stagnated for 30 years?
You have a long way to go my boy.
Please try to address the issues I raised if you can. No need for insults.

You clearly do not know what caused the 2008 financial crisis so I was correct in my assessment of you as a financial illiterate.


The 2008 financial crisis was caused by bad populist government policies initiated in the Clinton administration but blew up during Bush regime that interfered in the market to guarantee the loans of people who ordinarily could not afford loans.

Traditionally a mortgage is 3x or 4x income. When government started asking banks to give loans to people who couldn’t afford them aka subprime (even up to 10x income) banks started lending to those who they knew couldn’t pay because they knew the govt could guarantee the loans and they will make their money upfront from the origination fees. Eventually we had a situation where people without jobs were getting mortgages of $500,000 and multiple mortgages. It worked for a while because house prices were rising because of the demand so everyone and his dog was flipping and making money. Banks knowing the people they lent money to could not repay the loans sold off the loans on their books to get the risk off their balance sheets and to originate new loans because that was where they were making the money and fraudulently repackaged the loans as good loans and sold them off to unsuspecting investors. To cut a long story short, the party ended because those packaged loans that the banks sold started to default as expected and it affected other sectors of the financial system.

It’s like I say lend money to any of my relatives and I will pay you if they default but you cannot have more than 10 debtors at a time. So naturally you look for as many relatives of mine as you can find and give them loans because for every loan you originate you get a fee. Once you have sold to ten relatives you package the 10 loans and sell them to investors (let’s say pensioners looking to reliable monthly income) as good loans so now because those 10 loans are off your books, you can sell to another 10 of my relatives and on and on. The investors not knowing that the people whose loans they bought have no income or cannot afford the loans because you labeled them as grade A instead of sub prime. Then my relatives start to default one by one and the investors who had bought the loans I sold cannot meet their obligations and the whole system collapses.


The 2008 financial crisis was not caused by government debt. It was an entirely private sector led crisis albeit caused by government interfering in the normal workings of the private sector. You are a financial illiterate. 2008 financial crisis had nothing to do with government debt.

If it were govt debt where did govt then find money to bail out banks and businesses? If it were govt that over borrowed did your brain not tell you it would have been government that needed bailing out not banks and financial institutions?

Ignoramus! Stop commenting on things above your intellect and pay grade simply because you have data! It is not BBNaija we are discussing!

Confirmedzombie:
I see soludo decamping to APC. He is indeed a orogressive Governor.

Soludo has chased Ipob and obedient out of Anambra state.

If ibos support soludo he will be the first ibo president under APC

STFU, if Soludo ever campaign for president, then you will change mouth that he is the worse on earth, how he sponsored ipob and chase Hausa people, you will pull up newspaper headlines etc. we know your game but for the main time enjoy your druggie destroying Nigeria

Nijimog:
u better change

Making people to cry, just to make money

No iota of truth here but we mouve regardless

Namelesscoder:
No iota of truth here but we mouve regardless

read this thread and learn 1 or 2

https://www.nairaland.com/8193569/true-life-story-marriage-experience

Nijimog:
read this thread and learn 1 or 2

https://www.nairaland.com/8193569/true-life-story-marriage-experience

Marriage experience? Wetin concern me 😂

Namelesscoder:
Marriage experience? Wetin concern me 😂

shey u know wan marry,

U won code forever

casualobserver:
You clearly do not know what caused the 2008 financial crisis so I was correct in my assessment of you as a financial illiterate.


The 2008 financial crisis was caused by bad populist government policies initiated in the Clinton administration but blew up during Bush regime that interfered in the market to guarantee the loans of people who ordinarily could not afford loans.

Traditionally a mortgage is 3x or 4x income. When government started asking banks to give loans to people who couldn’t afford them aka subprime (even up to 10x income) banks started lending to those who they knew couldn’t pay because they knew the govt could guarantee the loans and they will make their money upfront from the origination fees. Eventually we had a situation where people without jobs were getting mortgages of $500,000 and multiple mortgages. It worked for a while because house prices were rising because of the demand so everyone and his dog was flipping and making money. Banks knowing the people they lent money to could not repay the loans sold off the loans on their books to get the risk off their balance sheets and to originate new loans because that was where they were making the money and fraudulently repackaged the loans as good loans and sold them off to unsuspecting investors. To cut a long story short, the party ended because those packaged loans that the banks sold started to default as expected and it affected other sectors of the financial system.

It’s like I say lend money to any of my relatives and I will pay you if they default but you cannot have more than 10 debtors at a time. So naturally you look for as many relatives of mine as you can find and give them loans because for every loan you originate you get a fee. Once you have sold to ten relatives you package the 10 loans and sell them to investors (let’s say pensioners looking to reliable monthly income) as good loans so now because those 10 loans are off your books, you can sell to another 10 of my relatives and on and on. The investors not knowing that the people whose loans they bought have no income or cannot afford the loans because you labeled them as grade A instead of sub prime. Then my relatives start to default one by one and the investors who had bought the loans I sold cannot meet their obligations and the whole system collapses.


The 2008 financial crisis was not caused by government debt. It was an entirely private sector led crisis albeit caused by government interfering in the normal workings of the private sector. You are a financial illiterate. 2008 financial crisis had nothing to do with government debt.

If it were govt debt where did govt then find money to bail out banks and businesses? If it were govt that over borrowed did your brain not tell you it would have been government that needed bailing out not banks and financial institutions?

Ignoramus! Stop commenting on things above your intellect and pay grade simply because you have data! It is not BBNaija we are discussing!

To summarize what you copied from the internet, the 2008 crisis was caused by debt.
So read what you wrote and get wiser.
Again the most affected countries were the countries with heavy debt burden, Greece, Portugal etc.
Let me leave you because not only are you dumb, you hate knowledge.