₦airaland Forum

https://www.youtube.com/watch?v=SQiQh7hOY7g

How Tony Elumelu became a billionaire banker with UBA

Opebiman:
Debts has to be serviced regardless..
Weather spent judiciously or not doesn't concern the borrowers..

Many of the projects worked on by the previous administration are through roads.. from the rail projects (Lagos - Ibadan, kaduna- Kano), road construction like Abuja- Makurdi, solar farm in 9 federal institutions just to mention a few ..

Of course some Will be looted..At the end of the day.. it must be paid back

Judicious spending of those humongous funds is the major concern of the Nigerian populace. The more they keep borrowing these funds, the more naira devalues so you can see it affects everything and everybody.

What we and our family are paying for including the money borrowed money to Nigeria Airways that they later haired Ethiopian Airlines,the new presidential jet recently bought, the borrowed money to buy SUV for national assembly, and also money borrowed to increase judiciary salary, furnished first lady office, And that of VP with borrowed money.but today every Nigeria is vomiting
🤮 🤮 🤮 🤮 🤮 🤮 🤮 that money we borrowed through our noses today,I doubt if politicians can make heaven 😭😭😭😭

DOMESTIC BORROWING IS IMPOSSIBLE BECAUSE NO CITIZEN IS BUYING TBILLS OR BONDS..... UNLESS THEY WANNA SQUEEZE US WITH TAX

Ezennia101:
I just hope the servicing is same as payment?

Lmao!!!! No its not!!

To be honest, If I were IMP, world Bank, Bretton woods etc. I would actually do same shyt to some of these incompetent id#ts in Africa. Very very dull leaders.

They ain't paying shyt, unless u pay d part of d original money u collected. Servicing is just paying the "interest"

In 2024, we spent $7.5 billion importing fuel.
In 2023, we spent $13 billion importing fuel.
In 2022, we spent $22 billion importing fuel.

In 2024, we spent $1 billion importing rice.
In 2023, we spent $1.2 billion importing rice.
In 2022, we spent $1.5 billion importing rice.

In 2024, we spent $800 million importing textiles and apparel.
In 2023, we spent $950 million importing textiles and apparel.
In 2022, we spent $1.1 billion importing textiles and apparel.

In 2024, we spent $600 million importing pharmaceuticals.
In 2023, we spent $750 million importing pharmaceuticals.
In 2022, we spent $900 million importing pharmaceuticals.

In 2024, we spent $400 million importing palm oil.
In 2023, we spent $500 million importing palm oil.
In 2022, we spent $700 million importing palm oil.

In 2024, we spent $300 million importing plastic products.
In 2023, we spent $350 million importing plastic products.
In 2022, we spent $450 million importing plastic products.

Mr President is trying but we don't have to imagine because we can actually turn the tables and start exporting globally this products.

mrvitalis:
This is the major reason dollar keep raising

Moping up foreign exchange to pay debt

Print Naira, large external debt and high imports of PMS are some of the reasons

Babangidapikin:
In 2024, we spent $7.5 billion importing fuel.
In 2023, we spent $13 billion importing fuel.
In 2022, we spent $22 billion importing fuel.

In 2024, we spent $1 billion importing rice.
In 2023, we spent $1.2 billion importing rice.
In 2022, we spent $1.5 billion importing rice.

In 2024, we spent $800 million importing textiles and apparel.
In 2023, we spent $950 million importing textiles and apparel.
In 2022, we spent $1.1 billion importing textiles and apparel.

In 2024, we spent $600 million importing pharmaceuticals.
In 2023, we spent $750 million importing pharmaceuticals.
In 2022, we spent $900 million importing pharmaceuticals.

In 2024, we spent $400 million importing palm oil.
In 2023, we spent $500 million importing palm oil.
In 2022, we spent $700 million importing palm oil.

In 2024, we spent $300 million importing plastic products.
In 2023, we spent $350 million importing plastic products.
In 2022, we spent $450 million importing plastic products.

Mr President is trying but we don't have to imagine because we can actually turn the tables and start exporting globally this products.

Why is Nigeria importing Palm Oil, PMS, Rice, Plastic, textiles and apparel when local industries can meet our needs? Nigeria presently to broke to import

sulaak:
Why is Nigeria importing Palm Oil, PMS, Rice, Plastic, textiles and apparel when local industries can meet our needs? Nigeria presently to broke to import

That is the statistics I got o, but instead of trying to complain , let us encourage Mr President , I know it takes time for people importing to understand they need to change their mode of business, especially when they are seeing easy money, but Mr President needs to give them timeline, because some of them could be expose to bank loans and the trickle down effect might not be good for the economy.

If this is the Dundie government Olodo Bola Tinubu bribed the INEC chairman to grab, then his followers are the losers.

Why is there a global effort to put many African countries in debt? Africa supplies 80% of the worlds natural resources yet she is heavily indebted. Look a Nigeria for example, natural resources are stolen on a daily basis the funds earned from them are shipped abroad, our leaders know only how to borrow to buy expensive things for themselves and their families.

Things can't get better but only worse. All those saying things will get better, that we only need to endure are being paid to say so.

Babangidapikin:
That is the statistics I got o, but instead of trying to complain , let us encourage Mr President , I know it takes time for people importing to understand they need to change their mode of business, especially when they are seeing easy money, but Mr President needs to give them timeline, because some of them could be expose to bank loans and the trickle down effect might not be good for the economy.

Tinubu is the minister of petroleum, yet Nigeria import $2 billion PMS in October

sulaak:
Tinubu is the minister of petroleum, yet Nigeria import $2 billion PMS in October

hmmm Minister of Petroleum wey no dey stay for house, how does he want to have firm grip on the industry ..biko it is a Honorary title . But he is trying his best ...

Babangidapikin:
hmmm Minister of Petroleum wey no dey stay for house, how does he want to have firm grip on the industry ..biko it is a Honorary title . But he is trying his best ...

Trying is not his job description. Nigeria's GDP is now $199 billion from $570 in 2014.

sulaak:
Trying is not his job description. Nigeria's GDP is now $199 billion from $570 in 2014.

That is ten years ago. We know who to blame.

Babangidapikin:
That is ten years ago. We know who to blame.

Tinubu, he created APC and gave Buhari a platform when Buhari was crying after three failures. Tinubu is the foundation of Nigeria economic collapse today. Tinubu is the reason why Nigeria is still importing PMS

Elsueno:

Lmao!!!! No its not!!

To be honest, If I were IMP, world Bank, Bretton woods etc. I would actually do same shyt to some of these incompetent id#ts in Africa. Very very dull leaders.

They ain't paying shyt, unless u pay d part of d original money u collected. Servicing is just paying the "interest"

Chai! Are this people mad or stupid or they re just the both, this people are holding them on Ransom honestly

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Nigeria takes economic advice from her creditors?

The creditors don't want to make less money.

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NIGERIA AND HER CITIZENS REMAIN HORSE TO THE IMF AND THE WORLD BANK, can imf washed their mouth on Chinese or Japanese, we just prefer to be slave to the westerners