₦airaland Forum

Yep, borrowing money on top of the kind of debt we had back then.

It's all fun and games until the debt comes in from the borrowing

Plus, 12 billion won't be enough for a good defence of the naira, so ....borrow more.

If Peter Obi said this, he is just as bad as tinubu and company.

Nigeria never get better leaders at all.

Obidient you heard your Emperor

I said all these politician are same stop thinking any of them is saint than angel. The situation in Nigeria right now is build up of over 35 years decadence its only unfortunate it exploded at this moment.

The rots are accumulated rots that began from shagari era growing bit by bit and became a full blown demon we are witnessing today. I remember shoouuting up NEPA during IBB regime was IBB head of state last year or 4 years ago?

NgeneUkwenu:
Peter speaks English like someone who didn't attend primary school. The man is very dull, very slow, barely illiterate and deficient in honesty.

So, speaking your colonial master language is an achievement and a measure of intelligence.

See tinubu, he was doing the same thing ...borrowing money to defend the naira, and when that did not work, he had to eventually devalue

But even then the borrowing continues.

The truth is, APC is not ready to face the reality of hard choices being made to save our economy....what they are doing is just forced on them by circumstances.

Obi too wants to do the same thing?

Nigerians never get better leaders.

richiemcgold:
.. 🤔
Buhari borrowed and we condemned him for that.

Tinubu is currently borrowing and we're also condemning him for it.

.. now Obi says he too would've borrowed.

This simply means that Nigeria is a VERY POOR COUNTRY.

There is no way u will take borrowing out of running our economy, we are already in debt as a nation. Even without defending the naira, govt is still borrowing. How the borrowed funds is being utilized is what matters here & that depend on the person at the helm of affairs.

NgeneUkwenu:
Peter speaks English like someone who didn't attend primary school. The man is very dull, very slow, barely illiterate and deficient in honesty.

I watched the video and concluded Obi Pandora is mentally challenged because no normal human being could be this dull.

What has Tinubu got to do with this news na? Dont you have anything meaningful to contribute

Mobileclub:
Tinubu has finished this country

richiemcgold:
.. 🤔
Buhari borrowed and we condemned him for that.

Tinubu is currently borrowing and we're also condemning him for it.

.. now Obi says he too would've borrowed.

This simply means that Nigeria is a VERY POOR COUNTRY.

Shut up stop saying nonsense which Nigeria is a poor country.. You guys will just come online and start saying nonsense..Nigeria is poor? Are you thinking from your poo poo

ThatNaijaNigger:
Na Me be OP. I go too appreciate am if una fit Subscribe to my YouTube channel make I see food chop🙏🏽
Thank you.

hahahahahah agreed 100% are you for real?!

Can Tinubu ever come to TV to grant interview? , the day he does it by submitting himself to journalists for questioning, that day I will start supporting him

mrvitalis:
Everyone knows that's the only solution
Obi said he would borrow 12 billion dollars that he had the connections

The Koko is what you use the borrowed money to do

APC from Buhari to Tinubu now keep borrowing to build infrastructure with the hope that the infrastructure would kick start development

Not only are the infrastructure over inflated they are sighted wrongly so can't even breakeven

So they just increase our debt service, increase recurrent expenditure and have absolutely no increase in revenue

Obi solution is to borrow money

Give it to the people, support business especially in export potential business and import substitutes

1) you create employment
2) you boost revenue, as this businesses come for the needed loan you capture them into the tax net
3) you don't increase debt service per say as the people would pay back the loan

This can kick start a chain of events that kick start the economy

OBi and Tinubu are not the same

You honestly don’t know what you’re saying.

phantom:
The difference? Obi actually has a plan! Tinubu is clueless as fuk. I would be surprised if Tinubu actually wipes his ass himself.

Obi is sure as a frugal money manager that he could have borrowed 15 billion dollars, for instance to DEFEND THE NAIRA , KNOWING FULLY WELL, that the resultant currency appreciation, IF CHANNELLED TO THE APPROPRIATE SECTORS could give the economy the much needed "bolus of glucose" it needs to return 150 billion dollars back.

It's all about having a plan! Obi has always been about BORROW TO CHANNEL TO THE REAL PRODUCTIVE SECTORS AND NOT TO CONSUME BY spending recklessly on cars, yachts and private jets..

If I have a business that I know if I put in $2 will return $6.. why won't I borrow to put into it if I don't have the initial funding for it?

Don't forget! Obi is a business man! He is a billionaire from wholesale and retail... you think he doesn't know a thing or two about money management? You call him container economist but THAT IS EXACTLY WHAT WE NEED TO DIG US OUT OF THIS MESS.

Only a mentally challenged person will try to justify Obi Pandora daftness

The daft Obi wants to borrow to service money without infrastructure. Is that not madness?

yoruboid:
Nigeria dodged a bullet

This man is d@ft and bereft of ideas

Dodged a bullet and ran straight into a bazooka?

richiemcgold:
.. 🤔
Buhari borrowed and we condemned him for that.

Tinubu is currently borrowing and we're also condemning him for it.

.. now Obi says he too would've borrowed.

This simply means that Nigeria is a VERY POOR COUNTRY.

Listen, the wrongest thing we were taught was that those who go borrowing go sorrowing. You can NEVER be rich if you don't borrow money! Never! Peter Obi has never been against borrowing money; he's more about what you do with the money. This is very reasonable.

All the rich men and women we hear their names today are owing billions of naira/dollars, but banks are still begging them to come and take more. Why? That's because they have used that money to create wealth, add value and transformed their economies. They've shown workings.

In summary, borrowing money is perfectly fine. The question is what you do with the money because Nigerian politicians borrow money to loot it afterwards.

jayce232:
There is no way u will take borrowing out of running our economy, we are already in debt as a nation. Even without defending the naira, govt is still borrowing. How the borrowed funds is being utilized is what matters here & that depend on the person at the helm of affairs.

Tinubu was initially borrowing to defend the naira....and it worked....very well indeed(sarcasm). Eventually he had to bow to the inevitable.

Obi too wants to borrow...so he is essentially admitting that tinubu and by extension...Buhari...who borrowed to defend the naira well well ....were right.

Ok.o. As for me what APC is doing now, and what Obi is planning to do na the same. I prefer leader who would at least tell us the truth and stop borrowing to hide things.

yoruboid:
Nigeria dodged a bullet

This man is d@ft and bereft of ideas

dodged a bullet and swallowed a grenade

Ikaeniyan0:
So Ondo state is better than Oyo and Ogun because Ondo state GDP is bigger than the GDP of Oyo and Ogun? Try dey make use of your brain now

I told you there are far more job opportunities in Ogun state compared to Anambra state

The IGR of Ogun state do not just dwarve the IGR of Anambra state, it dwarves the IGR of the whole south eastern state combine.

The people wailing on this thread below do not care about GDP

https://www.nairaland.com/870945/what-exactly-peter-obi-doing

Obi was useless as a governor

IGR is not a measure of development... There is no rating institution on earth that uses IGR as a measure for estimating development or productivity

And yes Ondo is better than Oyo or Ogun by every standard of development

Bros you should have noticed by now I debate facts... If u don't quote me with figures n values u won't be graced with a response from me again

mrvitalis:
Everyone knows that's the only solution
Obi said he would borrow 12 billion dollars that he had the connections

The Koko is what you use the borrowed money to do

APC from Buhari to Tinubu now keep borrowing to build infrastructure with the hope that the infrastructure would kick start development

Not only are the infrastructure over inflated they are sighted wrongly so can't even breakeven

So they just increase our debt service, increase recurrent expenditure and have absolutely no increase in revenue

Obi solution is to borrow money

Give it to the people, support business especially in export potential business and import substitutes

1) you create employment
2) you boost revenue, as this businesses come for the needed loan you capture them into the tax net
3) you don't increase debt service per say as the people would pay back the loan

This can kick start a chain of events that kick start the economy

OBi and Tinubu are not the same

Why are you diverting from what he proposed? A right thinking person knows that initiative is not sustainable in the long run. For how long are you going to borrow to continue to sustain the Naira? That was the same thing Emefiele did and we thought all is well, that's the genesis of our problem.

Stop over hyping a serial party defector and Pandora fraudster.
This is the true accounts from indigenes and residents of Anambra State when Obingo was a governor.

https://www.nairaland.com/870945/what-exactly-peter-obi-doing

The same people who criticised him for poor performance and incompetence then turned Obingo messiah overnight because of tribalism.
It's only deluded obirodents over hyping their fake messiah.
Obingo is a failure in all ramifications

stuffs2002:
You must be high on mpkoru mirri

You want to borrow and give to people to do business without infrastructure?

I know Obi Pandora is mentally challenged but I didn't know the mental challenges runs in that region

Oga what you don't know is bigger than you

NgeneUkwenu:
Peter speaks English like someone who didn't attend primary school. The man is very dull, very slow, barely illiterate and deficient in honesty.

I hate when people condemn other for not speaking a borrowed language like an English man.

God didn't give us English as our language, we borrowed and we should not be compelled to speak like the native speaker. You don see Japanese leader speak English while address their press before?

mrvitalis:
And yes Ondo is better than Oyo or Ogun by every standard of development

Bros you should have noticed by now I debate facts... If u don't quote me with figures n values u won't be graced with a response from me again

Keep on insisting on trashy talks to back up your point

badoh:
Why are you diverting from what he proposed? A right thinking person knows that initiative is not sustainable in the long run. For how long are you going to borrow to continue to sustain the Naira? That was the same thing Emefiele did and we thought all is well, that's the genesis of our problem.

The idea is to Kickstart economic growth and the economy becomes self sustainable when
Revenue becomes greater than debt service + recurrent expenditure

How is this hard to comprehend

mrvitalis:
Oga what you don't know is bigger than you

Have you ever seen a country developed without infrastructure?

No one should ever give that mentally challenged Obi a microphone again


Obi and his supporters are sick in the head

phantom:
Your concerns are very valid Kobo, and I share them BUT you see Peter Obi? That man is the only man with the will to fight the corruption you are talking about.

He has acknowledged these same concerns repeatedly and was the only one of the three ready to make the sacrifices, leading by example.

For instance, Obi would have strictly limited the access to cheap dollars to productive sectors like manufacturing, agriculture etc and would have monitored it personally.

It's all about the will of the leader. Knowing obi, he's plan wasn't just to throw money at the problem. Obi is ready to disburse that money himself bypassing your cbn/ finance ministry if necessary.

I

You are explaining to people that know the truth but love to live in denial
Look at this thread and see the minions all chanting they are all the same
The lunacy on display here is outstanding
Smh
🚶‍♂️

oshiokpu:
You honestly don’t know what you’re saying.

Bros this is way above your intellectual capacity

This is advanced developmental economics

Not a single soul in Tinubu team. Or Buhari team is a developmental economics

stuffs2002:
Have you ever seen a country developed without infrastructure?

No one should ever give that mentally challenged Obi a microphone again

Did I say you would not do infrastructure?. Which country developed by building infrastructure with borrowed money

mrvitalis:
Everyone knows that's the only solution
Obi said he would borrow 12 billion dollars that he had the connections

The Koko is what you use the borrowed money to do

APC from Buhari to Tinubu now keep borrowing to build infrastructure with the hope that the infrastructure would kick start development

Not only are the infrastructure over inflated they are sighted wrongly so can't even breakeven

So they just increase our debt service, increase recurrent expenditure and have absolutely no increase in revenue

Obi solution is to borrow money

Give it to the people, support business especially in export potential business and import substitutes

1) you create employment
2) you boost revenue, as this businesses come for the needed loan you capture them into the tax net
3) you don't increase debt service per say as the people would pay back the loan

This can kick start a chain of events that kick start the economy

OBi and Tinubu are not the same

you are as daft as your obi.

See nonsense post.

mrvitalis:
The idea is to Kickstart economic growth and the economy becomes self sustainable when
Revenue becomes greater than debt service + recurrent expenditure

How is this hard to comprehend

The problem is, the debt we pick up would eventually add to the debt service eventually.

Essentially, Obi is saying we should borrow to defend the naira. That is as sad as what tinubu tried to do...by bororwing and then pretending it was for NNPC, and his supporters were telling us how wise and nice it was, until eventually they had to admit it did not work.

I honestly don't get our leaders, and the opposition leaders. Instead of telling NIgerians the truth...that we are poor and we need to make some hard choices to get rich, we borrow to build potemkin city like strucutres.

At some point, it has to stop.

Salewa97:
Peter Obi is just being petty with his statements.

How can you be borrowing money to pay another debt?

That's a reckless statement from him

You could see the disappointment in Rufai Oseni face.

nairalanda1:
Tinubu was initially borrowing to defend the naira....and it worked....very well indeed(sarcasm). Eventually he had to bow to the inevitable.

Obi too wants to borrow...so he is essentially admitting that tinubu and by extension...Buhari...who borrowed to defend the naira well well ....were right.

Ok.o. As for me what APC is doing now, and what Obi is planning to do na the same. I prefer leader who would at least tell us the truth and stop borrowing to hide things.

The bold is wrong, a lot of u are emphasizing on the borrowing instead of the plan. Dangote borrowed money to build his refinery. What matters is how the borrowed funds are being utilized. A lot of money borrowed under previous govt were not properly utilized, that's the sad truth. Even without defending anything or paying subsidies, govt is still borrowing, what are they using the funds for?? Funding white elephants projects that end up producing no returns.

NinjaMetahuman:
you are as daft as your obi.

See nonsense post.

What you don't know is bigger than you ooh oga

This is not local politics discussion run along