₦airaland Forum

Babangidapikin:
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.

Lekan239:
he dey sweet to talk

mrvitalis:
Yes you can't use infrastructure to improve an economy no

You use infrastructure to sustain growth

Osun tried it failed
Ebonyi tried it failed
Akwa ibom tried it failed
Kaduna tried it failed
Kano same
Ogun same


When would u guys learn

What drives economic growth is availability of credit

Kobojunkie:
Jonathan did not purchase a private jet, or build a 20 billion Naira VP house either but he didn't do a great enough job to curb corruption. Why? Because your politicians cannot curb the black hole of corruption. Never could!

Smartcitizen:
■ Just like all the president of Nigeria except OBASANJO.

SIRTee15:
My problem with u Obi supporters is u are the same with Tinubu supporters. double mouth people.
I cant believe someone is still supporting the idea of borrowing to run the economy.
The borrowed money is for what exactly? revive Ajaokuta, improve power or build another refinery?
To imagine Obi even said he will use the borrowed money to create an artificial value of the naira.
How will u sustain the interest payment. Nigerian budget is already crumbling due to interest from previous loan repayment made worse by the devaluation.
Who will borrow Nigeria billions of dollars without a pragmatic repayment plan.

Seriously, Obi supporters disappointed me on this one. Call out Obi if he's talking nonsense, he's not infallible.
Something Tinubu supporters should have done long age by telling him not to run for Presidency in the first place.

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

Kobojunkie:
Peter Obi would have devalued the Naira as Cardoso had done and then borrowed money -- taking even from the foreign reserves --to shore it up like Cardoso had also done?

Ready2speak:
I see the comments of so many dimwits who knows next to nothing about finance and funding profiling a man that runs banks and businesses both within and outside the country.

Why devalue and what margin/percentage is acceptable that will not negatively impact the currency should be the first question to ask.

Then comes the next question; Why borrow and what are the terms (long or short) and the money what is to be used for?
Is the economy capable to pay back in either short or long term?
To what use is the money or monies to be put? Is it for industries and manufacturing, Agriculture or infrastructures like roads, rail, power or any other area with direct impact on the economy?

Truth is when there is no money to run a country, there are options available. (1) Sell assets if there are any. (2) Tax the people more. (3) Reduce or cut down on cost of governance and deploy meagre resources to areas of critical importance.
(4) Borrowing.

If the last option is to borrow, where and where will the money be deployed is critical.
So those shouting Peter Obi down, it shows they don't even understand anything about finance.

Let them tell us what the alternative is out of the 4 options outlined. Let's debate it.

phemray:
Thank God you know Obi and Tinubu are not same and Thier past records are clear. It's easier to say, I will, I will and I will just as he did when he was a governor not minding the effects and Nigerians responses to every steps Taken by him. Thank God it's not Obi, by now he would have ran away completely when the pressure is much. Presidency is not run by mouth.

mrvitalis:
Name one aspect of governance Tinubu performed better than Obi

SIRTee15:
■ My problem with u Obi supporters is u are the same with Tinubu supporters. double mouth people. I cant believe someone is still supporting the idea of borrowing to run the economy. The borrowed money is for what exactly? revive Ajaokuta, improve power or build another refinery? To imagine Obi even said he will use the borrowed money to create an artificial value of the naira. How will u sustain the interest payment. Nigerian budget is already crumbling due to interest from previous loan repayment made worse by the devaluation. Who will borrow Nigeria billions of dollars without a pragmatic repayment plan. Seriously, Obi supporters disappointed me on this one. Call out Obi if he's talking nonsense, he's not infallible. Something Tinubu supporters should have done long age by telling him not to run for Presidency in the first place.

phemray:
Lolz, Too many to mention enduring legacies that other state copied and existing till today. You don't need to bother, Obi himself knows he is a boy and he acknowledges that.

melotech:
■ Sowore is the answer. You people just underate him

Anither563:
This is a classic case of economic illiteracy.

yoruboid:
Nigeria dodged a bullet

This man is d@ft and bereft of ideas

Smartcitizen:
Just like all the president of Nigeria except OBASANJO.


But at least under Jonathan we had a much better stable economy than this useless Tinubu and BUHARI his twin.


🤣🤣🤣

pquaver:
You had stable economy because just like squandering 10 million dollars... U don feel it the day u make the foolish decision to squander rather later and during the squandering u go think say u dey enjoy...

Smartcitizen:
■ When a better driver drives a car you will never even realize when you pass through a rough road. But give that driving sit to olodo like Tinubu and BUHARI, they will even kill at the express road. I hope you understand now? 🤣🤣🤣🤣🤣🤣🤣

elder1002:
■ They will still vote incompetence
They will still vote religion
They will still vote tribalisim
They will still vote nepotism
They will still vote sentiment
They will still vote Hippocrates
They will Still vote old barron
They will still vote APC
They will still vote PDP
They won't protest but anti protest good governance
They will loot
They will steal from innocent

Nigeria currently is hard even for the middle class are now like 3rd class or 4th class, middle class can't even ride car to work even for some first class. As long as we don't get it right at the poll beggers will beg and suffer

Kobojunkie:
The only good drivers in that democracy are the people themselves.... not these old men who stoop to become servants only to turn rabid dogs against the people who they were selected to serve.
This here are clear reasons why a complete overhauling of the existing system and reorientation of the minds of the people at the local level is what is needed for this nation not to implode in only a couple of years.

Smartcitizen:
■ My dear the younger generation are too occupied with irrelevant things and the leadership of the country appears to be a thing of less concern to them.
■ I sincerely wish they youth will wake up from their slumber and chase out these block head old cargos.

Okoroawusa:
The last thing I will do is to click on a video to watch a female voiced man talk trash on things he absolutely has no idea about.

I am not an efulefu

phantom:
Exactly! Its like a primary 3 dullard clicking on a video of Albert Einstein teaching quantum physics.

Kobojunkie:
They are no different from their parents before them who were equally too occupied with breeding and minding their own private lives while they watched their communities and society as a whole crumble over the years before their eyes.

2. The entire country, not just the youths, needs to wake up and it will happen if a mass reorientation is embarked on, particularly at the grassroots level.

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.

Eecho:
■ 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.

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 (although the country is massively endowed with valuable resources).

flyinnizam:
are you aware Germany, US, china are in debt also? it is what u used the borrowed money for that is important