₦airaland Forum

Hypocricy at the highest level. Tunibu claimed Nigeria will go bankrupt if subsidy is not removed. And now hell bent on bankrupting Nigeria with loans.

Political bandits at it again. These people go kpai this country with all these reckless borrowings. Fellow Nigerians, shey na like this we go dey look?

ybalogs:
Inna lillahi WA Inna ilaei rojiuna. To God we come from and to Him we return to.

Our country is going down daily under our watch; and we pretend that everything is alright- continue praying. Oh Nigeria!

I am beginning to suspect that our Frontline leaders already knows this country is going to fall apart at some point so they are maximizing it's debt potentials.

Africans need to wise up, the white keep brainwashing you claiming they are borrowing you money when you had $40Billion as foreign reserves with them, they then borrow half of them with interest rate that will put you in further debts , don’t tell me the foreign reserve is for international trade, my money is my money

Nah Tpain go sell this country las las

I can tell you the key aspects of the recently passed US budget because of the long drawn out debates on global tv. The endless battles between the promoters and the opposers. Why they wanted this or that included and removed.

That is an economy with steady growth, single digit inflation, single digit interest rates and single digit unemployment figures. Their main issue of contention is....yes, DEBT.

Here we are neither worried about growth, about interest rates, about unemployment and about inflation, ALL caused by unproductive debts.

Yet a humongous amount is about to be added to the crippling dead weight of debt and not a single debate has been heard.

As a matter of fact the average Nigerian citizen has no idea whatsoever what this enormous amount is to be used for in clear and unambiguous detail. An amount that will hit his quality of life in the near future just like a tsunami long after the earthquake has happened.

I just cannot understand how the owners of a country, the people can be so left in the dark about the happenings of their country while the managers, the employees run it the way they like. Who runs his business, his home, his social club like this.

And you will think after the experiences of the previous administration where undebated, shoddily un/approved ways and means expenditure has become the albatross on the Nigerian neck, the people will have learnt something and insist they have a say in the way the country's economy is run.

But alas this administration has come with its own underhand economic dealings we can be cocksure the next administration will have to address and claim to clean up at enormous cost to YOU who is reading this.

The issues in the two top English speaking economies today is DEBT. Both the US and the UK are experiencing serious drops in their standards of living over the medium term because of unsustainable debt.

What are we using ours to do please.

Any project that has to do with money can never be disapproved by the National Assembly

samomoli:
Please let me ask this simple question. Where is the money removed from subsidy

It was used to buy Agbado to feed 50 million Nigerian Youths recruited into the Army.....

We are doing our best to recruit more 50 million Nigerian Youths into the Oshodi parks and Edo motor parks to come and tell Peter Obi where to go , so we will likely borrow $36billion by November for that purpose...

This borrowing isn't bad, citing the policy formulation template in place. In fact, it'll be a catalyst to the exponential growth for many, which the citizens have yearned for over the years. The only problem, however, lies in the implementation. Without a just EFCC and diligent technocrats to man the implementation judiciously and professionally, respectively, the country will be left worse than it's in the next five decades.

Majority of our problems as a country are fundamental problems, but the good news is that we're on the right course of becoming a truly great country in all important spheres of life.

I hope all the mugus supporting these wicked things are reading this. No light, no food, no security, no subsidy, no health facilities, no road and yet the borrowing is out of this planet!

Get your children ready to slave for this debts. Their jobless children are buying condos and properties in billions. How much do you have in your pocket today,
Defenders of the universe

so where are the so called money generated from the subsidy, the money generated from tax or the money generated from export oil and other product.
how come you need to borrow 21$billion for budget, serious questions needs to be asked.

Fernandeswagger:
$21B for what exactly?

Please somebody should tell me the name of this movie? You mean the FG still has to borrow this much even after saving a lot from removing subsidy?

No concern for the future generations, just keep borrowing to loot and continue your luxurious lifestyle. At this rate they might start selling Nigerians just to maintain their lifestyle.

When Nigerians are ready they'll wake up and demand accountability. For now let's keep playing while standing on his mandate abi manhood

The devil is in the detail. They know the average Nigerian is not literate or exposed to understanding the intricacies of economic decisions and more worrisome has a short attention span.

If not what are these projects to be funded by highly expensive foreign borrowing.
Whose decision is it to undertake these projects. Where were they demanded for by the public as socio-economic priorities. Was any cost benefit exercise conducted. Was any alternative funding models considered and debated. And on and on.

These are the things debated by parliaments of other countries.

Every US senator spoke on the floor in the Trump budget process and together with voting took almost 3 days and night non stop. Every dot and T cross checked because it matters to them. So they are braced for the outcome good or bad.

Here we allow the sky to fall on our heads not sure and not concerned who is raining wrath on us.

23 billion naira is a lot, a lot, a lot of money to pay back especially for a weak exporting country barely earning foreign revenue to serve it's basic needs.

A nation ruled by idiots and supported by nitwits!

RISQUE:

This government is the dumbest in the history of Nigeria

Only rivalled by Buhari's government

Tinubu is a hardened criminal with track record of Agberohism, if Nigerians refuses to raise in 2027 this man will finish this country.

samomoli:
Please let me ask this simple question. Where is the money removed from subsidy

It is used to recruit Reno, Bwala, and other NL low lives Zombies to attack Peter Obi. Attacking PO has been their biggest achievement.

Image123:
Depending on who you are defending, it's okay to borrow money. Some people have told us how US is owing over $30 trillion.
On this platform, we've had people lamenting about GDP only to be shocked yesterday by opposition that GDP is not necessary, once there was news of perceived improvement.
You don't want to pay tax, you don't want the tax of people paying tax to increase, you don't want Nigeria to borrow, but you want roads, internet, electricity, schools, hospitals all standard like US and UK. Thoughtless and feckless jokes.

Stop talking trash. How many times have they borrowed for projects we never see? If i can drive from lagos to onitsha on a very good road, guess what, i will be very happy to pay toll gate on the route. Same goes for everything. We don't pay tax because we know the money will be looted . I bet you, there will be nothing to show for this money they are borrowing now

People Few that will make heaven in this country. Apc was/is a disaster to humanity.

maxkia:
He said he will stop borrowing After subsidy removal. But right now, he has borrowed X 10 of what late buhari borrowed in 8 years within 2 years,even when subsidy was still in place. I'm sure those APC Urchins defending Bulaba would have found out it is difficult to defend tinubu without looking stupid. I rest my case

Them go approve na,so that them go see something to loot

I now agree that Atiku and Obi must work together even if it means Obi as VP because any attempt for Tinubu to win the 2027 election, Nigeria is gone forever!

All nations borrow and there was no Nigerian govt that didn't borrow.USA,China,UK etc still continue to borrow.
This is still a paltry debt when compared to a small nation like South Africa which has 5 times debt of Nigeria.South Africa debt is more than $600 billion.
The most important thing is that they should utilize the fund diligently.Thank God there are
several projects on going around the nation.

I keep wondering why some people in their right senses still support this goverment. This is really pathetic.

For sure, they will very soon approve for tinubu to sell Nigeria and pocket the money.

It appears because of quest for relevance and to remain in power, these Nigerian politicians has sold their souls to the devil .

What a way to live!!!

I am reminded of this wisdom.
Proverbs 22:7
The borrower is servant to the lender. 📖

Thought the FG said they have generated alot of money from removal of subsidy. Why are they going to borrow billions of Dollars again.. Chai....This Baba has plunged Nigeria 🇳🇬 into perpetual debts that the next 5 generations yet unborn will inherit

helinues says otherwise
https://www.nairaland.com/8387619/president-tinubu-yet-borrow-money

izombie:
Stop talking trash. How many times have they borrowed for projects we never see? If i can drive from lagos to onitsha on a very good road, guess what, i will be very happy to pay toll gate on the route. Same goes for everything. We don't pay tax because we know the money will be looted . I bet you, there will be nothing to show for this money they are borrowing now

You that is not talking thrash, mention 5 times the current administration borrowed for projects you didn't see. No need to bet, just make effort to think.

searchlight:
Only rivalled by Buhari's government

Exactly.

Buhari seems a lot better