₦airaland Forum

By the time the doomed dingBAT is done ravaging the shyyythole, Nigeria will be finally auctioned on jiji 😂😂😁😁😅😅
Criminal govt of self serving THIEVES 💯💯💯💯

WeddingParol:
Borrowing sometimes is inevitable for budget financing and infrastructural development so long as the terms are not injurious to the values of the people and inimical to the same economy which warranted the borrowing.

Also, the money must be used for its purposes and the debt servicing ratio should not inhibit the government recurrent spending.

You know the set of leaders you have, yet, you write this.

You think anybody doesn't know what borrowing should be used for

You're speaking to a wall and expecting answers.

nairalanda1:


Look, you guys don't know how bad it is for us.

80% of our revenue comes from oil. Let it sink in...80% of our revenue comes from oil. 20% comes from other sources, including tax. Tax does not account for a large amount of our revenue. Add the fact that the oil revenue comes from 1.3m bpd. Not enough for a nation of 5 million.

That is why we should not have voted for tinubu. We should have voted for a leader that would have promoted production, promoted widening the tax base and economic diversificaiton, plus total removal of subsides on power and education.

Subsidy still dey on education...primary and secondary...as well as health and for 80% of consumers of electricity. (those who are not on band A).

The truth is, our government borrows, because to not borrow means they would have to tax the 70% of Nigerians who do not pay taxes, and force every NIgerian to pay premium for electricity, and remove subsides on health and non-teritiary educaiton....and guess what...it means riots.

Tinubu is borrowing because he no wan face reality. Like every Nigerian politican, he takes bad decisions to get elected again and again.

I agree with some of your points, especially the fact that Tinubu was a mistake. However, I disagree with the subsidies on electricity. I once worked in an organization where we spend more money on national grid than running generators.

diamond68:
thats cheap. elon musk is 8 times richer than our debt

a lil perspective

45 billion is 450 million barrels of oil. only 220 days oil supply

Elon Musk day owe you ?

ibabz:
The same style they used to impoverished Lagos state. I’m yet to see anyone to enlighten me how and why the richest state in Nigeria is still the most indebted state in Africa.

Lagos budget in 2024 is 1.3 billion dollars. Compare with New York...a city of comparable size...107 billion dollars.

Lagos has needs larger in size than that 1.3 billion dollars. Naturally, they take loans.

Plus., last year Lagos collected 709 billion naira....or .....423 million dollars.

That is Nigeria's richest state.....and the tax they collect cannot meet its needs at all.

Like now, Lagos needs between 1.5-4.7 billion dollars to fix its santiation system.

Remember, Lagos budget is 1.3 billion dollars

And looting still happens.

Richtaiwo:
For the illiterates thinking Nigeria has more than enough resources and should therefore provide every damn thing for over 250 million citizens, this current debt should disabuse your minds.

$45 billion, though very huge, shouldn't really be a serious issue on a national scale if the country is that rich as believed in some quarters. That $45 billion is less than some countries' proposed annual expenditure in a single sector of their economy.

Can you just listen to yourself

Only a matter of time and we will have no crude oil left to export as every single drop extracted will either be used as payback to loans that have no end or to service this loans.

Nigeria has gone to the dogs Indeed !Only God can redeem this nation.

Whytelyon:
Elon Musk day owe you ?

he owes me. He is an occultist who does rituals to energy vampire. He built his wealth with my energy. He owes me

Richtaiwo:
For the illiterates thinking Nigeria has more than enough resources and should therefore provide every damn thing for over 250 million citizens, this current debt should disabuse your minds.

$45 billion, though very huge, shouldn't really be a serious issue on a national scale if the country is that rich as believed in some quarters. That $45 billion is less than some countries' proposed annual expenditure in a single sector of their economy.

We are rich on paper. Not in reality.

PLus a lot of these resources have been lost to illegal mining. Most governments over the years have turned a blind eye to illegal mining , and refused to regulate it. Especially this current government self. That is why all those terror groups are running amok...when sugar is poured in the open, ants gather.

Plus, even if we exploited everything, all minerals we sell are priced oversease , not here. So, our earnings might not be as much as we want it to be.

WeddingParol:
Borrowing sometimes is inevitable for budget financing and infrastructural development so long as the terms are not injurious to the values of the people and inimical to the same economy which warranted the borrowing.

Also, the money must be used for its purposes and the debt servicing ratio should not inhibit the government recurrent spending.

wen u finally get sense let us know

ifeco4:
Can you just listen to yourself

Yes, if e pain you, hug a live transformer.

Sen. Gbola T-pain is in charge of the economy.

No worries!

You can't be wishing your own country bad. It is not good choice

nairalanda1:


Lagos budget in 2024 is 1.3 billion dollars. Compare with New York...a city of comparable size...107 billion dollars.

Lagos has needs larger in size than that 1.3 billion dollars. Naturally, they take loans.

Plus., last year Lagos collected 709 billion naira....or .....423 million dollars.

That is Nigeria's richest state.....and the tax they collect cannot meet its needs at all.

Like now, Lagos needs between 1.5-4.7 billion dollars to fix its santiation system.

Remember, Lagos budget is 1.3 billion dollars

And looting still happens.

And how do we justify that Lagos spent more than what was used to develop Dubai. If half of Lagos money in bourdillon house, Lagos should be far better than Dubai by now, considering what’s made vs what’s expended.

Richtaiwo:
For the illiterates thinking Nigeria has more than enough resources and should therefore provide every damn thing for over 250 million citizens, this current debt should disabuse your minds.

$45 billion, though very huge, shouldn't really be a serious issue on a national scale if the country is that rich as believed in some quarters. That $45 billion is less than some countries' proposed annual expenditure in a single sector of their economy.

As opined by a sophisticated idiot!

nairalanda1:


Look, you guys don't know how bad it is for us.

80% of our revenue comes from oil. Let it sink in...80% of our revenue comes from oil. 20% comes from other sources, including tax. Tax does not account for a large amount of our revenue. Add the fact that the oil revenue comes from 1.3m bpd. Not enough for a nation of 5 million.

That is why we should not have voted for tinubu. We should have voted for a leader that would have promoted production, promoted widening the tax base and economic diversificaiton, plus total removal of subsides on power and education.

Subsidy still dey on education...primary and secondary...as well as health and for 80% of consumers of electricity. (those who are not on band A).

The truth is, our government borrows, because to not borrow means they would have to tax the 70% of Nigerians who do not pay taxes, and force every NIgerian to pay premium for electricity, and remove subsides on health and non-teritiary educaiton....and guess what...it means riots.

Tinubu is borrowing because he no wan face reality. Like every Nigerian politican, he takes bad decisions to get elected again and again.

What concerns a government with production.

Is government meant to run industries.

So how will government increase production.

snowball11:
As opined by a sophisticated idiot!

And opposed by a stark illiterate.

ibabz:
And how do we justify that Lagos spent more than what was used to develop Dubai. If half of Lagos money in bourdillon house, Lagos should be far better than Dubai by now, considering what’s made vs what’s expended.

2024 BUDGETS FOR TWO TOWNS....

Dubai...68 billion dollars.
Lagos ...1.3 billion dollars

Burj Khalifa 1.5 bn dollars
Downtown Dubai...20 billion dollars.


Una see difference?

Plus the UAE Produces twice the oyel we produce and has 20 million people or less. Nigeria has far more people.

And the annoying thing is

1. They will still loot from lagos money

2. Tinubu is not serious about diversifying our economy.

diamond68:
he owes me. He is an occultist who does rituals to energy vampire. He built his wealth with my energy. He owes me

Na so craze day start.

Proudlyngwa:
What concerns a government with production.

Is government meant to run industries.

So how will government increase production.

OK o. Enjoy your useless APC tinubu government.

What did you expect when you vote an old and dull man into power

ibabz:
I agree with some of your points, especially the fact that Tinubu was a mistake. However, I disagree with the subsidies on electricity. I once worked in an organization where we spend more money on national grid than running generators.

Can I know the power rating of those equipment because for any thing above 10kva , and you are not on estimated billing, national grid is far cheaper.

Proudlyngwa:
What concerns a government with production.

Is government meant to run industries.

So how will government increase production.

Yes, government has no business in the running of businesses, but creating policies and strategies to boost business, not to kill business. Have you taken time to study Trump’s policies and the brains he’s assembling to run such policies? That’s what a good government should do, not the olodo we have in Aso rock

nairalanda1:


2024 BUDGETS FOR TWO TOWNS....

Dubai...68 billion dollars.
Lagos ...1.3 billion dollars

Burj Khalifa 1.5 bn dollars
Downtown Dubai...20 billion dollars.


Una see difference?

Plus the UAE Produces twice the oyel we produce and has 20 million people or less. Nigeria has far more people.

And the annoying thing is

1. They will still loot from lagos money

2. Tinubu is not serious about diversifying our economy.

Dubai did not start with $68b to build and develop Dubai, but the dedication and commitment of honest leaders who put the interests of the country above personal interests.

Whytelyon:
Na so craze day start.

elon is an intergalactic energy vampire

nairalanda1:


Look, you guys don't know how bad it is for us.

80% of our revenue comes from oil. Let it sink in...80% of our revenue comes from oil. 20% comes from other sources, including tax. Tax does not account for a large amount of our revenue. Add the fact that the oil revenue comes from 1.3m bpd. Not enough for a nation of 5 million.

That is why we should not have voted for tinubu. We should have voted for a leader that would have promoted production, promoted widening the tax base and economic diversificaiton, plus total removal of subsides on power and education.

Subsidy still dey on education...primary and secondary...as well as health and for 80% of consumers of electricity. (those who are not on band A).

The truth is, our government borrows, because to not borrow means they would have to tax the 70% of Nigerians who do not pay taxes, and force every NIgerian to pay premium for electricity, and remove subsides on health and non-teritiary educaiton....and guess what...it means riots.

Tinubu is borrowing because he no wan face reality. Like every Nigerian politican, he takes bad decisions to get elected again and again.

Take a closer look: education in Nigeria is facing a crisis, and the burden has shifted heavily onto Nigerians, who are now paying exorbitant fees in federal tertiary institutions. Have you noticed why federal institutions are dropping in Nigeria and global rankings? There are no significant projects being executed, compounded by the "Band A" status all tertiary institutions are grappling with.

At the University of Ibadan, for instance, MSc students are just two months away from their project defense, yet many have made little progress. They are unable to pay their third-semester fees, let alone begin meaningful work on their projects, which are further hindered by persistent power outages.

Nigerians are bearing the brunt of this poor leadership under Tinubu’s administration.

ibabz:
Dubai did not start with $68b to build and develop Dubai, but the dedication and commitment of honest leaders who put the interests of the country above personal interests.

But it clearly started out with more than what Lagos or Nigeria ever had, because...they produce twice as much oyel as we do for less than 15 million people today.

When NIgeria was already in the 80million range, or at least close.

All because your leaders did not take our economy to an economy that is dependent on exports of manufactured goods and services. That is what serious countries do.

ibabz:
Yes, government has no business in the running of businesses, but creating policies and strategies to boost business, not to kill business. Have you taken time to study Trump’s policies and the brains he’s assembling to run such policies? That’s what a good government should do, not the olodo we have in Aso rock

Government is meant to make policies and enabling environment, but the military has changed our ideology to a caregiver mentality, which is why policies rarely work, and instead government keeps applying cushioning effect which worsens the situation.

nairalanda1:


OK o. Enjoy your useless APC tinubu government.

How does that answer the question

How can government increase production

TJOS:
Take a closer look: education in Nigeria is facing a crisis, and the burden has shifted heavily onto Nigerians, who are now paying exorbitant fees in federal tertiary institutions. Have you noticed why federal institutions are dropping in Nigeria and global rankings? There are no significant projects being executed, compounded by the "Band A" status all tertiary institutions are grappling with.

At the University of Ibadan, for instance, MSc students are just two months away from their project defense, yet many have made little progress. They are unable to pay their third-semester fees, let alone begin meaningful work on their projects, which are further hindered by persistent power outages.

Nigerians are bearing the brunt of this poor leadership under Tinubu’s administration.

So, how else do we fund education?

We spend less than 3 billion dollars on universites, prinary and secondary schools...when we should be spending at least 100 billion dollars.

Come now, our leaders not taking us the right way development wise is why we rely on a very poor treasury to meet needs that cost 10 to 100 times what we got in the bank. So we borrow...because the reality means higher fees, and much higher fees.

Proudlyngwa:
How does that answer the question

How can government increase production

You are not asking me a question.

Have fun with your government.