₦airaland Forum

Taking loans is good when the money is well utilised. But we all know in Nigeria, FG and states mostly waste revenue from crude oil sales and taxes.They are now going the extra mile by also borrowing huge amounts after all the wastage. Kudos to Governor Soludo

Emmanuel900:
What's wrong with taking loan ?
There's nothing wrong with loan as long as it will be use for something productive.

You think Dangote would be able to built that refinery without loans even though he is the richest man in Africa?

You are just financially daft, there's no rich business man in the world that is not taking loan in fact there's no developed country in the world without debts even China, taking loans give you access to more funds and increase your productivity, no wonder Oyo state have more VAT than the whole East, It is stupid thing that won't increase your productivity that you propagate and celebrate.

stanluiz:
Do Anambra tell you that they are lacking development ?

Anambra is developing at a very speed rate. The governor is a good manager of resources.

Go and face your South West governors that are not doing nothing.

shutup. Tell your stupid brothers that are all over TikTok crying about Yoruba hatred for them to return to anambra and enjoy it. Tell the monkeys to return home instead of crying on social media.
Landlocked animals.

simpleseyi:
Very good. The best state in Nigeria. But why are Anambra indigenes slaving in Lagos? Why did even your ex governor and lord Bitter Giringori Obituary run away from Anambra to hide in Lagos.

Before you tell me that it is because Lagos was the Capital, let me remind you that Olusegun Mimiko lived in Ondo, Olusegun Osoba lives in Ogun, Rasheed Ladojoa lives in Ibadan, Kayode Fayemi lives in Ekiti, these and others are former governors in Yoruba land, they didn’t run away from their states to live in Lagos despite all of them having different businesses in Lagos and not like fake drugs and food distribution that your Anambra god Bitter Giringori Obituary is doing

Where is tinubu from osun living?

XerXers:
Develop at your pace and also include Local ingenuity in your development. Your people lack native intelligence. Go and read "confession of economic hitman" and see how big corporations lure unsuspecting poor countries into useless infrastructure project to trap them with loans

Even Dangote borrowed money to get where he is. It shows financial illiteracy for an underdeveloped state country to celebrate not borrowing especially in an inflationary environment. You were eyeing a car 2 years ago, your money wasn’t complete, today you can’t even afford to buy the tyres of the car. If you had taken a loan, your interest would be based on the price 2 yrs ago, you would be half way through paying it off and the car is now worth more than what you paid for it. But you decided to save because debt is bad abi? and now even okada you can’t afford to buy today with your savings!


1: If a road costs N100b in 2022 and he had borrowed the money locally, that road will probably cost N300b today. Which means that road will never get built, which means any economic multiplier effect from the road gets pushed further forward. But if he had borrowed the money then, the road will be completed now, the interest will be based on N100b not N300b, the IGR would rise as a result and he would have more money to pay off the loan. If he was waiting till he had the money to build the road the road would never start or if he was doing it small small, inflation would keep raising the price of the road such that it is never completed.

Example 2:

Wike needed to build roads but he had no money, he went to the banks and said I have x amount from my IGR every month I can spare, how much can you borrow me if I pay x every month? That is how Wike got the money to build the roads he is building in Abuja today. He didn’t wait till money is complete.

Only ignoramuses celebrate being debt free when you have serious infrastructure deficit. I am actually disappointed in Soludo for that. I would have thought he knew better.

These are basic simple rudimentary financial and economic principles. Time value of money and in an inflationary environment you you borrow for development because tommorow the price is higher

ASAPFERG:
if they need you, they wouldn't be treating you like trash in Lagos. A lot of landlords don't rent to you guys in SW, your people are allover TikTok crying about it.

You are the ones who need them.

U ARE CLEARLY A YORUBA MAN, TALKING NONSENSE IS YOUR CHRACTER TRAIT.


NOBODY TAKES U SERIOUSLY.


TALK BIAFRA NOW, HE WILL CRY THE LOUDEST.


EBI KPA MI!

Soludo moving to Abuja in advance....! The campaign is loud & clear... An igbo man with the Nigerian blood & not Biafran. A future asset.

Stolen:
U ARE CLEARLY A YORUBA MAN, TALKING NONSENSE IS YOUR CHRACTER TRAIT.


NOBODY TAKES U SERIOUSLY.


TALK BIAFRA NOW, HE WILL CRY THE LOUDEST.


EBI KPA MI!

you can keep fooling yourself here, while your brothers wail profusely in Lagos.

XerXers:
These people are economic illiterates

shut up mumu man, you are the bigger illiterate if you don’t know….even almighty America are the biggest world debtor with all there money, and this is because they are credit worthy

Banks only lend to people who are financially buoyant to pay back due to the nature of projects they are funding.

What lousy big project is been executed in anambala state compared to Lagos? Una go just Dey disgrace Una self with your onitsha market economic

SmartPolician:
I don't know how people think in this part of the world because there's nothing worth celebrating in not taking loans to invest in ventures that return revenue for the state. This is the reason Lagos State will forever remain the richest state in Nigeria.

Listen - everyone takes loans, including the world's richest people. He who goes borrowing goes sorrowing is the dumbest statement I've heard.

this is the only sensible ibo man that have decided to put Tribal sentiment apart and reason with logic….what a shame to most of blodas who are just disgracing themselves here

XerXers:
Stop disgracing yourself. Economy is measured by GDP all over the world and Oyo is far below Anambra in GDP

show us the stats with verifiable link that put Anambala ahead of oyo state? Yet you can’t generate substantial VAT which put you even below boko haram ravaged NE make Una Dey try use brain they argue not with tribal sentiments.

Anambala is not in 5 top viable states in Nigeria

PHIPEX:
Tax and VAT are about how much you tax people not about who is richer. Civil servants and employees pay more tax than business men. An employee earning 200k can pay more tax than a business.man making 2million monthly because the tax for employee is deducted from source while the business man tax only what he declares. It doesn't mean the employee is richer. Same applies to businesses. Most business and companies inbthe East are not structured, they make so much money but you can't easilynaudotnthem soncant easily tax them.

The above is why Anambra is richer than Oyo but collects lesser tax than Oyo

🤣🤣🤣ipob clown, Anambala richer than oyo states? Not in this life🤣🤣🤣

How old is tiny Anambala state? That’s just like a local govt in oyo state🤣🤣🤣 yet after Lagos oyo state accommodate more economic migrants from sad yeast?

You people just love to chest beat for dumb reasons even the VAT report was so evident that your region is non economically viable. Abeg mention one FDI in anambala state and I will give you 5 in Ibadan alone..mumu man🤣🤣🤣

Stolen:
THEY TAKE THE LOAN, WEN THEY ARE LOOKING FOR MONEY TO LOOT.


STATE ALLOCATION HAVE BEEN USED TO PAY TEACHERS.

WE KNOW THIS GAME

You are assuming bro, you know no game.

SonofLagos:
🤣🤣🤣ipob clown, Anambala richer than oyo states? Not in this life🤣🤣🤣

How old is tiny Anambala state? That’s just like a local govt in oyo state🤣🤣🤣 yet after Lagos oyo state accommodate more economic migrants from sad yeast?

You people just love to chest beat for dumb reasons even the VAT report was so evident that your region is non economically viable. Abeg mention one FDI in anambala state and I will give you 5 in Ibadan alone..mumu man🤣🤣🤣

Please bring statistics on FDi last year to Lagos. You this mental case you don't want to go and take your drugs. VAT is not an indicator of wealth, GDP is the real indicator and Anambra GDP is higher than Oyo.
Go and take your drugs and stop showing madness here.

Believeintruth:
Please bring statistics on FDi last year to Lagos. You this mental case you don't want to go and take your drugs. VAT is not an indicator of wealth, GDP is the real indicator and Anambra GDP is higher than Oyo.
Go and take your drugs and stop showing madness here.

shut up and answer the question I asked the other ipob retard since you want to front for him and stop deflecting, I’m not interested in your stupid argument tonight

Show working and not Cho Cho cho🤣🤣🤣which foreign investors go out money for Ipob territory of Monday sit at home🤣🤣🤣

Emmanuel900:
What's wrong with taking loan ?
There's nothing wrong with loan as long as it will be use for something productive.

You think Dangote would be able to built that refinery without loans even though he is the richest man in Africa?

You are just financially daft, there's no rich business man in the world that is not taking loan in fact there's no developed country in the world without debts even China, taking loans give you access to more funds and increase your productivity, no wonder Oyo state have more VAT than the whole East, It is stupid thing that won't increase your productivity that you propagate and celebrate.

You know more than Soludo??

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Emmanuel900:
Anambra is far bigger but couldn't measure up to Oyo in both VAT and IGR, you are just a typical simpleton lol

Right now there is almost no big business in Nigeria without a base in Ibadan Oyo state, check very well you will always see Ibadan among list of bases of business that are present in Abuja and Lagos.

It is statistics like VAT that determine where some businesses will situate their base in Nigeria because high VAT signal the level of products being purchase in a state.

There is nothing happening at Ibadan. VAT & IGR managed by state's actors? Anambra has two major markets Onitsha the biggest market in West Africa and Nnewi the 3rd automobile market in the whole world, and according to your report Oyo is ahead of it. The same way southwest is ahead of southeast in terms of education according to your report, but in marking schemes of national exams, for a southeasterner to pass the exam he/she must score 100% of what your region scored. What a country

sreamsense:
That is a sign of directionless government. The government doesn't know what to do with word bank load because there are no development plans on ground to put the funds into use and do quick pay back. Even USA being richest in the world still borrow money. When you have capital project and infrastructure in sight beyond state financial capacity, there is no way you wouldn't borrow to finance them like FG is doing, but because the government is directionless and has no capital project except petty petty projects, it will continue to brag in ignorance. Tell Anambra government to finance deep sea port, railway infrastructure across the sate and many other big investments. Building houses and build roads are prett[font=Lucida Sans Unicode][/font]y pretty projects. Government should wake up to invest in big projects by sourcing for loans and judiciously make use of them, bragging on ignorance does nobody any good

Chaiii bitterness is that you? So OBJ that crushed our loan is direntionless too
When you hate some people, it makes you forget sound reasoning.
My question again; was OBJ government direction less

Na today, I knowsay Anambra man na mumu man.
Anybody wey reject loan, dey visionless, no get ambition and no get projects.
Same thing with Obi "left money in the Government coffers when he left office".
So when he left office, he had solved all the problems in Anambra state like erosion, potable water, roads, sanitation, salary abi?
I mean the day he left office.
If he left office and Anambra still had problems then it was very stupid for you to keep money in coffers while people are suffering because you don't have any development or project to offer.
If not why will you be saving money in Government coffers?
The incoming governor don tell u say im go lack money?

From this 1 singular action, Soludo no get levels.
Take loan develop Anambra and payback you say no.
Anambra state get BRT system?
What of Independent Power Plant?
What of dam?
Rail network nko?
Airline?
State owned factory? Producing even fine gravel dust?
State owned farm 1000 hectares? planting ex. Cassava
State owned bank?
State owned Vessels in Onitsha port?
State owned mines/mining company?

All these things Anambra State have not.
Abeg, make somebody show Soludo this list make e go back collect that loan start any of these projects make people get work and generate revenue for the state to pay back the loan and bring real development.
Afterall na Ibo man be sing "if I no get money I get place to borrow".

If you no knowsay na loan di bring growth, then you should not even be on this thread in the first place.
Na surely gala or okpa u dey sell.
Atleast Obi better pass this Soludo.
Obi save money for bank, Soludo deny loan.
Na 1 mama born them.

Emmanuel900:
Nothing is happening in Oyo to you because of your intensional ignorance, there's no big business in Nigeria without a base in Ibadan and even some popular goods and products in Nigeria are being manufacture in Ibadan.

Popular foreign fast food service and even mall operates in Ibadan, like ShopRite and Pizzahut, even Jumia delivery in Ibadan, Oyo state is as fast as Lagos State and it is also one of the cities that enjoy free delivery on Jumia.

Ibadan in Oyo is also one of the cities in Nigeria that MTN have 5G coverage no where in Anambra.

You think all these businesses are blind like you lol?

Please do tell which country/ies is china indebted to. I see solido showing strong fiscal discipline. I think if Anambra wants to build deep sea ports and long Rail lines, they might need debt or use proper equity financing.

Debts in Africa is not necessary a good thing

Emmanuel900:
Nothing is happening in Oyo to you because of your intensional ignorance, there's no big business in Nigeria without a base in Ibadan and even some popular goods and products in Nigeria are being manufacture in Ibadan.

Popular foreign fast food service and even mall operates in Ibadan, like ShopRite and Pizzahut, even Jumia delivery in Ibadan, Oyo state is as fast as Lagos State and it is also one of the cities that enjoy free delivery on Jumia.

Ibadan in Oyo is also one of the cities in Nigeria that MTN have 5G coverage no where in Anambra.

You think all these businesses are blind like you lol?

Otondo I'm currently using MTN 5 G in my office in Awka

casualobserver:
I repeat what I have said time and time again, it is ignorant people that celebrate not taking loans when you are in desperate need of development.

I get bet you that Anambra state is doing far better on infrastructure than your state without borrowing

franvincoop:
Na today, I knowsay Anambra man na mumu man.
Anybody wey reject loan, dey visionless, no get ambition and no get projects.
Same thing with Obi "left money in the Government coffers when he left office".
So when he left office, he had solved all the problems in Anambra state like erosion, potable water, roads, sanitation, salary abi?
I mean the day he left office.
If he left office and Anambra still had problems then it was very stupid for you to keep money in coffers while people are suffering because you don't have any development or project to offer.
If not why will you be saving money in Government coffers?
The incoming governor don tell u say im go lack money?

From this 1 singular action, Soludo no get levels.
Take loan develop Anambra and payback you say no.
Anambra state get BRT system?
What of Independent Power Plant?
What of dam?
Rail network nko?
Airline?
State owned factory? Producing even fine gravel dust?
State owned farm 1000 hectares? planting ex. Cassava
State owned bank?
State owned Vessels in Onitsha port?
State owned mines/mining company?

All these things Anambra State have not.
Abeg, make somebody show Soludo this list make e go back collect that loan start any of these projects make people get work and generate revenue for the state to pay back the loan and bring real development.
Afterall na Ibo man be sing "if I no get money I get place to borrow".

If you no knowsay na loan di bring growth, then you should not even be on this thread in the first place.
Na surely gala or okpa u dey sell.
Atleast Obi better pass this Soludo.
Obi save money for bank, Soludo deny loan.
Na 1 mama born them.

The current governor of Anambra state has delivered more projects than your state governor that can't do without borrowing

casualobserver:
Even Dangote borrowed money to get where he is. It shows financial illiteracy for an underdeveloped state country to celebrate not borrowing especially in an inflationary environment. You were eyeing a car 2 years ago, your money wasn’t complete, today you can’t even afford to buy the tyres of the car. If you had taken a loan, your interest would be based on the price 2 yrs ago, you would be half way through paying it off and the car is now worth more than what you paid for it. But you decided to save because debt is bad abi? and now even okada you can’t afford to buy today with your savings!


1: If a road costs N100b in 2022 and he had borrowed the money locally, that road will probably cost N300b today. Which means that road will never get built, which means any economic multiplier effect from the road gets pushed further forward. But if he had borrowed the money then, the road will be completed now, the interest will be based on N100b not N300b, the IGR would rise as a result and he would have more money to pay off the loan. If he was waiting till he had the money to build the road the road would never start or if he was doing it small small, inflation would keep raising the price of the road such that it is never completed.

Example 2:

Wike needed to build roads but he had no money, he went to the banks and said I have x amount from my IGR every month I can spare, how much can you borrow me if I pay x every month? That is how Wike got the money to build the roads he is building in Abuja today. He didn’t wait till money is complete.

Only ignoramuses celebrate being debt free when you have serious infrastructure deficit. I am actually disappointed in Soludo for that. I would have thought he knew better.

These are basic simple rudimentary financial and economic principles. Time value of money and in an inflationary environment you you borrow for development because tommorow the price is higher

But Anambra boast of more infrastructure than your state still maintained low debt

Bestmanfornow:
I get bet you that Anambra state is doing far better on infrastructure than your state without borrowing

which infrastructure
The same anambra I know or another one

Misterone:
Don't mind him. He has been constructing one small bridge at Ekwulobia for the past 3 years and he's still at it. That is the purpose of loans. Deliver the dividends of democracy now then pay gradually. It's stupidity for someone to build a less than 50 metres bridge in over 4 years and thinks he's doing the right thing. Those that took loans to built theirs have been enjoying it and paying back gradually. Even at that, when you factor in inflation, you'll see that it's just foolishness.

I know most of you guys lack common sense, FG few days ago said they are not ready to bail any state out you will soon know why Anambra state is light of the nation, come to Anambra state and see massive projects he completed two flyovers, new government house, built five hospitals, biggest trauma centre, biggest Fun centre in Nigeria, Innovation District, Pharmaceutical distribution hub, Awka Mall, Smart schools completed 450km of roads and bridges without borrowing, tell me what your state governor has achieved despite borrowing huge, Gov Soludo won best governor on infrastructure, won best in health care by WHO, Your governor that has been borrowing how far

ASAPFERG:
which infrastructure
The same anambra I know or another one

Feed your eyes

https://www.youtube.com/watch?v=Hwp14SxBJDM

ASAPFERG:
which infrastructure
The same anambra I know or another one

With out borrowing


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

ASAPFERG:
which infrastructure
The same anambra I know or another one

No to make silly noise on media feed your eyes

https://www.youtube.com/watch?v=Wvmejq0njWI

ASAPFERG:
which infrastructure
The same anambra I know or another one

You guys always claimed you know Anambra 🤣🤣

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

Bestmanfornow:
But Anambra boast of more infrastructure than your state still maintained low debt

My state has an IGR larger than the entire SE and 5x Anambra. One company in my state contributes more to my state’s IGR than Anambra entire IGR. Maybe if you actually leveraged the small you have and borrowed for development you might catch up.



Investors don’t care if you borrowed or saved to build your infrastructure, what they will not do is come to nvest or live while you have inadequate infrastructure. Without investors, you don’t get the high quality employees and residents who pay higher income taxes etc. There is only so much IGR you can get from okada riders and farmers.

Your high net worth investors, graduates etc come to my state to invest and get employment because your state does not have the adequate infrastructure and opportunities for them. Thus they contribute to the increased IGR which services our loans.

An investor looking to invest in Anambra who is deterred by inadequate infrastructure will go elsewhere and once that opportunity is gone it is gone. When you finally build your infrastructure, he will tell you he has already invested elsewhere. Dangote’s refinery could have been built in ondo or Ogun states, Lagos was not his first choice but they missed the opportunity and Lagos pounced, The opportunity is lost forever for Ogun and Ondo.