₦airaland Forum

tollyboy5:
Building infrastructure is foolishness 😳😳😳

This is how u guys fail exam

Building infrastructure with borrowed money is foolishness

What would you tell a man who borrow money to take his family on vacation? Is going on vacation wrong?

mrvitalis:
One thing I have always said is if I ever decide to be governor or president Economics would be made compulsory in all schools from SS1 to university 200 level...

Volume of debt or size of debt is not an issue
Ability to repay is the issue

Someone can owe 2 million and be worse than someone who owe 10 billion

In nigeria the issue we talk about is our revenue to debt servicing is too high..

We need to increase revenue, sadly the only way to do that is to borrow more but use it for what would generate revenue or ability to pay back the loan

So borrowing and using it to build road, bridge, rails, and the reat feel good projects is foolishness... Very big foolishness

And that's what APC have been doing since

Your papa money no waste

masseratti:
kindly state the kind of things you think government should borrow money to do please.

I have said it over and over go through my post

adonainana:
Technically it’s not foolishness
The answer to this is in your own post , to earn more revenue you need to grow the economy

To grow the economy you need to expand capital expenditure in other words things that facilitate trade

Roads , rails infrastructure is what grows any economy be it agarian in whatever century or decade you go into

It’s technically not foolishness it would have been if they simply used the borrowed money to repay more debt or pay salaries

So economically you are wrong

which economic text told you that please quote it please

U don't need infrastructure to grow and economy obi has been telling you guys since 2019

Since 2015 Nigeria have been building infrastructure yet economy keeps dumping yet majority of Nigerians believe u need to build infrastructure to grow economy is this not madness?

LegendHero:
What do you think we should channel the money we borrow to? I want to test your knowledge.

Oga I have told you over and over again so why are you asking me

You of all people want to text my knowledge? Like are you serious?

Imf is making money improverishing nations on the pretense of goodwill and development.

Ofemannnu:
If you buy Nigeria's bonds,Nigeria is owing you just like USA is owing China more than $600 billion...

This is what you understood from the post

You chose to make irrelevant comment than make a positive comment on the subject matter since you're allergic to good news

Dittodat:
This one posted this trash and some so called brainwashed olodo upvoted this utter trash.
Just goes to show how dumb some.of the so.called "graduates " are in Nigeria.

You borrow money for capital projects like roads, bridges and the likes. When these projects are being executed, don't they create job opportunities? They have to hire engineers, builders, project managers etc.
When these capital peojects are done, they creat business friendly environments that will attract private businesses to come and establish in these areas. This will lead to greater revenue for the.govt in the long run.
Thr govt should not be establishing businesses to make money, that never work.
Go back to business school and stop posting rubbish that have no basis in real world economics.

akwa Ibom is prove it doesn't work that way

Nigerias debt to IMF is $306 million

How ever we are Nos 77 of 201 in terms of total foreign debt to the tune of $43billion
1. International Development Association = $16.83 billion
2. International Bank for reconstruction and dev = $485 million
3. African development Bank = $1.6 billion
4. Africa Growing together fund = $33.3 million
5. African Development Fund = $ 993 million
6. Arab bank for eco development = $ 4.7 million
7. European development fund =$31million
8 Islamic dev Bank = $242 million
9. International fund for agricultural development = $274 million

Vision101:
How will your economy run efficiently without good infrastructure? Provision of infrastructure and enabling environment is the function of government but building industries and commercial entities is private sector function.

No body said it would run effectively.. This is a measure you take till revenue becomes greater than debt servicing and recurrennt expenditure then you use the rest ro fix infrastructure

Alsenora:
...but roads, rails, etc., are parts of strategic projects that drive economic growth. The govt can't be said to be wrong if borrowed funds are expended as such, exceot otherwise.

What would u tell a poor man that borrowed to build Village mansion or to take family on vacation?

So we should be jumping up and down and be clapping that our country is not among àbí nonsense and stupid news

mrvitalis:
One thing I have always said is if I ever decide to be governor or president Economics would be made compulsory in all schools from SS1 to university 200 level...

Volume of debt or size of debt is not an issue
Ability to repay is the issue

Someone can owe 2 million and be worse than someone who owe 10 billion

In nigeria the issue we talk about is our revenue to debt servicing is too high..

We need to increase revenue, sadly the only way to do that is to borrow more but use it for what would generate revenue or ability to pay back the loan

So borrowing and using it to build road, bridge, rails, and the reat feel good projects is foolishness... Very big foolishness

And that's what APC have been doing since

d economics for secondary sch sef Don dey enough.... U jst need someone who will teach it very well

2special:
Most people will be excited while some will be disappointed with this News.

You guys are spending so much energy to prove that Nigeria is not saddled with debts. The same IMF complains of Nigeria debts to revenue ratio, because they know that your ability to repay the loans is bleak.

123yes:
I did not see Nigeria on the list. Thanks to baba Tinubu.

Oga shataap your mouth there. Even in Buhari's time we were not there.

123yes:
I did not see Nigeria on the list. Thanks to baba Tinubu.

Wetin your baba Tinubu do? 🙄

IMF loan na small thing, na World Bank be the main financier. Your baba wey just collect another 632 million dollars, fresh loan

In the whole Africa, na Nigeria owe World Bank money pass. Almost $20 billion... You dey praise Tinubu.

temitope27:
Nigeria is in save hand


Thank you jagaban

Oga keep quiet there. Even in Buhari's time we were notnin that list because we owe China, Saudi, World Bank.

Obakoolex:
Bitter people with yam in the leg will be furious that Nigeria is not on the list

You don't have sense

77up:
One stu.pid idi0t was referring to Nigeria as a cursed nation all because Obi no win election, I'm sure such idi0t will be disappointed seeing this news.

Oga why not just shut up

mrvitalis:
One thing I have always said is if I ever decide to be governor or president Economics would be made compulsory in all schools from SS1 to university 200 level...

Volume of debt or size of debt is not an issue
Ability to repay is the issue

Someone can owe 2 million and be worse than someone who owe 10 billion

In nigeria the issue we talk about is our revenue to debt servicing is too high..

We need to increase revenue, sadly the only way to do that is to borrow more but use it for what would generate revenue or ability to pay back the loan

So borrowing and using it to build road, bridge, rails, and the reat feel good projects is foolishness... Very big foolishness

And that's what APC have been doing since

So Infastructure can not increase revenue?

mrvitalis:
Oga I have told you over and over again so why are you asking me

You of all people want to text my knowledge? Like are you serious?

Maybe I am mixing you with someone else, coz another moniker just quoted me with same thing.

Your argument is flawed. If you’re saying you want to borrow money and you think infrastructure is not important.

Let’s use layman reasoning. If you are saying borrow $20bn to invest in agriculture, don’t you think you will need critical infrastructure like roads, electricity, and security to even have long term profit?

If you borrow $20bn without making a quick revenue to at least service the loan, then the other sector of the economy will collapse for your own segment of the economy you are spending on. You are creating more problems and opposition will run you out of government in your first term.

How do you borrow $20bn without making 95% debt servicing with your crude oil sold into the future, and net reserve of $3.99bn?

Remember it says indebted to IMF and didn't mention indebted to other countries

mrvitalis:
One thing I have always said is if I ever decide to be governor or president Economics would be made compulsory in all schools from SS1 to university 200 level...

Volume of debt or size of debt is not an issue
Ability to repay is the issue

Someone can owe 2 million and be worse than someone who owe 10 billion

In nigeria the issue we talk about is our revenue to debt servicing is too high..

We need to increase revenue, sadly the only way to do that is to borrow more but use it for what would generate revenue or ability to pay back the loan

So borrowing and using it to build road, bridge, rails, and the reat feel good projects is foolishness... Very big foolishness

And that's what APC have been doing since

Pls what is the ratio of revenue to debt servicing now?

Musk can pay three time over

Paramount01:
Pls what is the ratio of revenue to debt servicing now?

It is still below par we are still spending a large chunk of our earning on debt service. Reason is because we spent so much money on frivolous projects that add no value and supporting a bloated government.

123yes:
I did not see Nigeria on the list. Thanks to baba Tinubu.

.. it's china Nigeria is owning the more

temitope27:
Nigeria is in save hand


Thank you jagaban

"Safe hands" not "save hand"

123yes:
I did not see Nigeria on the list. Thanks to baba Tinubu.

Have you seen the list of countries most indebted to China! 🤣

LegendHero:
Maybe I am mixing you with someone else, coz another moniker just quoted me with same thing.

Your argument is flawed. If you’re saying you want to borrow money and you think infrastructure is not important.

Let’s use layman reasoning. If you are saying borrow $20bn to invest in agriculture, don’t you think you will need critical infrastructure like roads, electricity, and security to even have long term profit?

If you borrow $20bn without making a quick revenue to at least service the loan, then the other sector of the economy will collapse for your own segment of the economy you are spending on. You are creating more problems and opposition will run you out of government in your first term.

How do you borrow $20bn without making 95% debt servicing with your crude oil sold into the future, and net reserve of $3.99bn?

Are there no existing infrastructure? Is there any village that imported goods don't get to?

Which infrastructure does the importers use?

No body is talking about investing in anything

It's about investment in your best brains in areas you have cooperative advantage

Paramount01:
So Infastructure can not increase revenue?

If I build all the roads in your village how would it increases revenue for your villagw