₦airaland Forum

Mobileclub:
Tinubu has finished this country

E remain us

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

This is not local politics discussion run along

I know a slowpoke when I see one.

You are definitely one.

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

That's been done several times over, and still we end up with debt.

Like our rail projects. Funded by borrowing, which we have to still pay back.

borrowing money to defend the Naira is the height of cluelessness... you just be living on borrowed time ... The only problem with Jagaban is that although he's trying to reduce debt burden, he is doing it the wrong way, rather he should encourage production by removing the logjams that makes investors afraid to put down long term investment.

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

So you just jumped into the defence of Obi without even listening to what he said. Even Rufai Oseni didn't agree with Obi Pandora

Go back to the video and listen to what the mentally challenged Obi Pandora was saying

nairalanda1:
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.

Not really since the banks would be paying us debt which would be used to repay the loans

Unlike the infrastructure that delivers no revenue

We would only increase devt service effectively if the debtors default and that's why you give this loan to your biggest and brightest business people

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 obviously don't understand the nonsense Obi said

Borrow money to defend the naira?

In which country has it ever worked.

In the last 2 years, Japan has spent over $100 billion defending the Yen, yet the Yen still fell drastically.

1. For how long can you borrow to defend a currency, especially a sub saharan African currency.

2. He claims to have the contacts to borrow $12 billion which he would use to defend the naira and support businesses. The trillions that Mr Buhari released to support farmers were never paid back. So Nigerians that M r Obi will give part of the borrowed billions will pay back?

3. What happens when the money you borrow runs out, since you will never be able to defeat the foreign exchange markets in the long run?

Once you run out of money to defend the naira, then all hell will break loose on the naira.

The currency markets will hit the naira so hard, it will be knocking on N3000 to a dollar.

I honestly marvel at Mr Obi's naivety. Every time he talks about the economy, you just wonder. He clearly doesn't understand how the currency markets work.

The truth is that, the chicken of decades-long mismanagement of the economy was coming home to roost by the 2nd term of Mr Buhari's government.

The government after him had to take some tough decisions or we would end up like Haiti, Venezuela, Zimbabwe.

stuffs2002:
So you just jumped into the defence of Obi without even listening to what he said. Even Rufai Oseni didn't agree with Obi Pandora

Go back to the video and listen to what the mentally challenged Obi Pandora was saying

Who made rufai an authority in economics

See we need to borrow money to defend the naira.

If am president today sure I would borrow money but my borrowed money would be spent in such a way I'm guaranteed a revenue increase greater than the debt service

NinjaMetahuman:
I know a slowpoke when I see one.

You are definitely one.

Nah you don't know... How can you see beyond your noise

Calculus looks like jargon to a primary school graduate

Anither563:
This is a classic case of economic illiteracy.

soludo said poverty doubled in anambra during obi's tenure.

You think he was joking?!

Obi is a clueless Buffoon and only brainwashed Christians who don't want another Muslim president and his tribesmen thought it was okay to vote the clown.

Anither563:
This is a classic case of economic illiteracy.

You know nothing boy

Kobojunkie:
His plan, which could have worked back maybe during the Jonathan years, sucks! Coming in to throw money at the problem is only going to deepen the people's debt status while achieving nearly nothing in the end. Nigeria is already crippled and the systems in place today need to be completely overhauled before Nigeria and Nigerians can move forward.

Businesses borrow to invest and.not to consume, that's the difference. People borrow from.banks and invest in profitable business, others borrow and the business collapse, that's the diff BTW Obi, Tinubu and Buhari

Globad:
You obviously don't understand the nonsense Obi said

Obviously you don't understand economics

Obi has been clear borrowing is never the issue what you do with it is the issue

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

Every successful economy started with infrastructure. Without these things, the revenue you generate from small businesses and other sources will not last. Unfortunately, corruption has resulted in high costs for infrastructure development in this country. We do not even get long-lasting quality. Not that I support these politicians, but we should force them to continue building infrastructure. Imagine there was no third mainland bridge in Lagos...lol. Just imagine there was no Carter bridge there too. Just imagine...just imagine it. If you cannot ask someone residing in Lagos. It is why I am not against Lagos-Calabar and Badagry-Sokoto coastal ways. Yes, they are stealing, but if we can get these two highways, it will be far more profitable than the cry of people losing their homes and properties (which I do not support...and the government could do a better job compensating them), as well as the hunger we are experiencing today.

Nigerians love good.. that's just it. You can see it when they go to parties. They just want to eat. And this is why politicians can easily bribe them during elections, regardless of how poorly they perform.

jayce232:
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.

The problem is, the loans generate debt with interest that still has to be paid back (as any user of loans can tell you)

PLus what's the end goal? Dangote took loans, to build his refinery, which has to generate enough of a profit to pay back the loans.

So, he wants to give it to manufacturing, agric, and company......how much revenue is it going to generate for the loans to be paid back...or are we going to generate more loans to pay the loans back?

We are borriwing because the oil we produce does not earn enough for a nation our size. THat's why APC is useless...they came and promised diversification, only to end up borrowing us into a point where we cannot sustain subsides and where we have to devalue the naira to survive.

Looks like Obi is walking the same road.

And no, I am not a fan of tinubu....same guy , different clothing.

nairalanda1:
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.

@bold u honestly think u are suffering to make a better country?? You are being deceived! Since we are poor & need to make hard decisions, why are the leaders not taking part in the transformation process? Why didn't they cut down cost of governance?? Our leaders are among the highest paid all over the world. They don't care about u! Borrowing is not the problem, because govt will continue to borrow in this part of the world, how the money is being utilized is the problem here.

yoruboid:
Nigeria dodged a bullet

This man is d@ft and bereft of ideas

If a business tycoon like him is daft then your father is useless to earth and has birthed a burden to his motherland. YOUR MUMU PRESIDO is only borrowing to do jamboree ! And your real father has no where to even borrow from . Meanwhile , Obi is still bubbling in all his business affairs . Tells you that useless people like you and your family deserve a different country.

If you think Peter would have done any differently, then you are in for a long ride..

jayce232:
@bold u honestly think u are suffering to make a better country?? You are being deceived! Since we are poor & need to make hard decisions, why are the leaders not taking part in the transformation process? Why didn't they cut down cost of governance?? Our leaders are among the highest paid all over the world. They don't care about u! Borrowing is not the problem, because govt will continue to borrow in this part of the world, how the money is being utilized is the problem here.

So, because I said that we need to make hard choices, therefore I support the corruption of oiur useless leaders.?

Oga, get out of my sight.

mrvitalis:
Nah you don't know... How can you see beyond your noise

Calculus looks like jargon to a primary school graduate

Lmao

What a daft mor0n.

mrvitalis:
Who made rufai an authority in economics

See we need to borrow money to defend the naira.

If am president today sure I would borrow money but my borrowed money would be spent in such a way I'm guaranteed a revenue increase greater than the debt service

Eiyah.... I feel sorry for all these mentally challenged people from a particular region. We used to think the situation was only to Obi Pandora but it appears it is an epidemic in that region

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

U just wake up begin whine go back to sleep

epainos:
Every successful economy started with infrastructure. Without these things, the revenue you generate from small businesses and other sources will not last. Unfortunately, corruption has resulted in high costs for infrastructure development in this country. We do not even get long-lasting quality. Not that I support these politicians, but we should force them to continue building infrastructure. Imagine there was no third mainland bridge in Lagos...lol. Just imagine there was no Carter bridge there too. Just imagine...just imagine it. If you cannot ask someone residing in Lagos. It is why I am not against Lagos-Calabar and Badagry-Sokoto coastal ways. Yes, they are stealing, but if we can get these two highways, it will be far more profitable than the cry of people losing their homes and properties (which I do not support...and the government could do a better job compensating them), as well as the hunger we are experiencing today.

Nigerians love good.. that's just it. You can see it when they go to parties. They just want to eat. And this is why politicians can easily bribe them during elections, regardless of how poorly they perform.

Not Infrastructure but Profitable Infrastructure. White elephant project is also Infrastructure but useless.

Compare 3rd mainland bridge vs Daura Train project. One is profitable another is useless.

yoruboid:
Nigeria dodged a bullet

This man is d@ft and bereft of ideas

Dodge which bullet? D one wey don kill everybody na wetin? U go just open mouth dey sprew trash

I don't think that would have been wise, but if he had great programs (without expanding on my point because okp*lor eyes will rush and copy it without copying it properly);


In summary, put good programs in place, good non tribalist programs, encourage the best from people, and join good foreign friends for international economics and security with logic and pragmatism. The rest will align.



is not as easy as I laid it out, due to the many and long in-betweens involved. But okp*lor eyes is such a tribalist and a natural hardcore criminal that he can't do any better than steal igbo region money to enrich himself.

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

epainos:
Every successful economy started with infrastructure. Without these things, the revenue you generate from small businesses and other sources will not last. Unfortunately, corruption has resulted in high costs for infrastructure development in this country. We do not even get long-lasting quality. Not that I support these politicians, but we should force them to continue building infrastructure. Imagine there was no third mainland bridge in Lagos...lol. Just imagine there was no Carter bridge there too. Just imagine...just imagine it. If you cannot ask someone residing in Lagos. It is why I am not against Lagos-Calabar and Badagry-Sokoto coastal ways. Yes, they are stealing, but if we can get these two highways, it will be far more profitable than the cry of people losing their homes and properties (which I do not support...and the government could do a better job compensating them), as well as the hunger we are experiencing today.

Nigerians love good.. that's just it. You can see it when they go to parties. They just want to eat. And this is why politicians can easily bribe them during elections, regardless of how poorly they perform.

Every successful economy started with infrastructure? That's a big lie

Lets take a look at China they started by educating their people, funding local businesses before building infrastructure

You don't grow an economy by using borrowed money to build infrastructure

In fact let's take two village

Village A

Gets 20 billion... Use it to build all the roads, build school, hospitals and markets

Village B

Gets 20 billion, doesn't do any infrastructure projects..but . Support it's people to

Build a cassava processing plants
Pall oil processing plants
Rice mills
Shoe factory
And many other businesses


After 10 years which village would be better off answer sincerely

stuffs2002:
Eiyah.... I feel sorry for all these mentally challenged people from a particular region. We used to think the situation was only to Obi Pandora but it appears it is an epidemic in that region

The same region Toping you on health, education and every developmental index

Yet they are dumb n you are smart

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

he is miles better than your grandfather TPain