₦airaland Forum

When it is disbursed to this Nigerian government that is found to be complicit in the serious gnocide of Christians, they will now channel it to the jeehardeest. Before you know, later in the future, the same Nigerian government will come accusing the world bank for sponsoring terorism.

Nigeria’s economy has yet to shift decisively into a higher and inclusive growth path,” underscoring the urgency of new investment to spur productivity, diversify exports, and create jobs.

There is the problem with tinubu government.

GEJ didn't even try what this wicked Tinubu is doing to Nigerians

malali:
According to the Federal Government, the measures, championed under President Bola Tinubu’s Renewed Hope Agenda, have helped stabilise the economy, narrow the fiscal deficit, and restore investor confidence.

But despite the improvements, growth remains sluggish, with more than 130 million Nigerians still living in poverty.

If all the borrowings have not created 'GROWTH'....
Where have these funds gone instead.
When you lay out tens of not hundreds of so called 'PROJECTS' costing trillions of naira to so called 'CONTRACTORS' that employ a few hundreds this is exactly what you get.

This is exactly what the priority this government is.... Projects.
You don't build an economy based on contracting. You build an economy based on industrialization. The making of things. Either to use or to sell. It is the only way to help your currency (by import substitution). It is the only way to create sustainable taxation through job creation (contracting jobs fizzle out the moment the projects are delivered).

Since 2023. I cannot lay my hands on any single industrial project this government has envisioned thought more about implementing.

Like Mojeed Dahiru says on radio in Abuja. You only borrow to finance revenue earning enterprises. Any other thing is a debt trap you will never get out of.

This debt we see today as we are going will become 100 billon shortly and 200 billion in a few years and 500 billion in years after that if we cannot get the economy working FOR ALL by creating real value. Real businesses, real enterprises, real productivity, which means mass industrialization.

Let us start making the things flooding our ports from abroad. Government should take the lead, trigger the process by PPP's enmasse.

May it never be well with those out to destroy this Nation.

What have you done with all the subsidy removal money saved

Please the gurus in the house...who/what is the collateral for this loans?

People say, oh infrastructure is important to build.
Yes it is. But China has been building infrastructure all over Africa for decades. It has built rail lines in Zambia, roads in Congo, bridges here and there.

But why are the people still wretchedly poor. No jobs. Roads don't create jobs, just as the fable of constant power by itself will boom the economy....how?. Today in Nigeria, power has improved, now the complaint is that stable electricity is unaffordable....why....no jobs...poverty. Gasoline is widely available, stable at the pumps yet few people fill up, many still cannot afford to move around.... poverty.

So if government has to borrow it has to attack the centre of the issue which is poverty. And this issue is one of productivity. Get more Nigerians employed by triggering industrialization and it will be a lot easier to finance infrastructure, education, health and security.


PS: And please, not palliative handouts or seed scattering in the form of so called incentives. Do it the China way. Government identifies an area of great need or a sector it wants to dominate globally, gets industries set up and the private sector buys them out as soon as they are up and running.

AMINDA:
Loans with no tangible results or verifiable projects. Tinubu thought his embrace of neo-liberal policies of the Worldbank and IMF would make him the darling of the West but that has proven not to be the case under Donald Trump. He's now under immense pressure. At least, Nigerians saw the tangible projects that Chinese loans under Buhari provided. Roads, rails, bridges, airports and seaports. Nothing to show under Tinubu.

Obi would have no choice pursuing policies, or would he continue with Buharinomics ?

Obi said he would end petrol subsidies and merge the Naira. These two policies account for most of the country's present pain.

For an economy like Nigeria's, it would take some time before fast growth resumes, most likely in the 5th year.

It could be speeded if company tax should be reduced to 15%.

grandstar:
Obi would have no choice pursuing policies, or would he continue with Buharinomics ?

Obi said he would end petrol subsidies and merge the Naira. These two policies account for most of the country's present pain.

For an economy like Nigeria's, it would take some time before fast growth resumes, most likely in the 5th year.

It could be speeded if company tax should be reduced to 15%.

Go watch Emefiele's old videos. Buharinomics was centered around Dangote's refinery coming on stream before the phased removal of subsidy. It was the garrulous Tinubu who came and abruptly removed subsidy prematurely, skyrocketing inflation and exchange rate simultaneously. Make no mistakes, it is the coming onboard of Dangote that has given this government a little respite. We could have attained even more without the attendant pain and disruption we are currently facing, which is actually eroding all perceived gains.

autodexter:
Please the gurus in the house...who/what is the collateral for this loans?

Good question.
If the monies were expended on creating enterprises. Those assets will be the collateral just as your oil has been for years now.

But since there is not much security on ground ....well you are the collateral and that is why taxation is so important to this increasing leaning socialist government.

AMINDA:
Loans with no tangible results or verifiable projects. Tinubu thought his embrace of neo-liberal policies of the Worldbank and IMF would make him the darling of the West but that has proven not to be the case under Donald Trump. He's now under immense pressure. At least, Nigerians saw the tangible projects that Chinese loans under Buhari provided. Roads, rails, bridges, airports and seaports. Nothing to show under Tinubu.

That is the difference between Chinese and westerners. The west will give you loans that they know your politicians will still and take back to western banks while no project or at best a substandard one is put in ground, meanwhile citizens will be left with the burden of servicing that loan. The Chinese on the other hand will give loan tied to a particular project, the project will be handled by a Chinese company using chanese and local hands, the funds disbursement will be released in progressive stages of the Eg road. Government official will approve release of funds upon satisfaction of the progress of the road. This is why all over the country you can see projects built though Chinese funding and expertise, bridges, airports, roads, ports, rail etc.

All foreign loans should stop.
It appears as if there are a few people in the federal government, and the World Bank who get commissions from these loans.
When the federal government takes external loans, they indirectly take money from the general Nigerian population through naira devaluation, multiple/increased taxation, and excessive inflation.

Make una ready for another Tax anytime the Druglord request for a loan

AMINDA:
Go watch Emefiele's old videos. Buharinomics was centered around Dangote's refinery coming on stream before the phased removal of subsidy. It was the garrulous Tinubu who came and abruptly removed subsidy prematurely, skyrocketing inflation and exchange rate simultaneously. Make no mistakes, it is the coming onboard of Dangote that has given this government a little respite. We could have attained even more without the attendant pain and disruption we are currently facing.

If this is true, Emefiele is a disgrace to economics if there was ever one. That was totally unnecessary. Simply following the fx policies he inherited from Jonathan was sufficient.

Buhari was a populist and focused on people friendly policies, even if it meant bankrupting the economy in the process. He didn't want Nigerians to "suffer."

So, he refused to abolish the subsidy, and preferred to borrow to finance it. He refuses to streamline the civil service despite inheriting a thin purse.

He also refused to allow a market determined exchange despite brazen economic ruin it was causing.

Tinubu made the right call. Didn't Jonathan want to remove subsidy? Did Okonjo-Iweala and Lamido Sanusi not support it?

You can not remove subsidy in phases due to inflation, persistent currency depreciation, and the ever changing price of crude oil.

malali:
Source: https://punchng.com/world-bank-to-consider-nigerias-fresh-1bn-loan-request/

ALOANmatic

People

Congress

Well done
Thank you.

autodexter:
Please the gurus in the house...who/what is the collateral for this loans?

You need guru to know that? I know you asked the question to let others know that this government MUST NOT GO BEYOND 2027.
Let reason from a fact if a father ( government) borrowed money with the family name (the country); squandered it with friends/ concubines (government and country's economy mafias/ parasites )and died ( I. e administration ended) who inherited the unpaid borrowed money - the father/ concubines or the family (country citizens) ?

These guys are also part of our problem.

So Tinubu bubu us to remove oil subsidies and using the dividend to settle politicians and campaigning for 2027. Bribing politicians into APC and less concerned about security and economic development. Ba wah o! Wetin we do this old man self.😫

Why is the World Bank offering Nigeria a loan, at the time when the US is threatening us with military action? So if African nations reject any neck-choking loans from Western powers, there’s always a way to force it down our throats? And many moonoos thing the military threats are a help to save us!

grandstar:
If this is true, Emefiele is a disgrace to economics if there was ever one. That was totally unnecessary. Simply following the fx policies he inherited from Jonathan was sufficient.

Buhari was a populist and focused on people friendly policies, even if it meant bankrupting the economy in the process. He didn't want Nigerians to "suffer."

So, he refused to abolish the subsidy, and preferred to borrow to finance it. He refuses to streamline the civil service despite inheriting a thin purse.

He also refused to allow a market determined exchange despite brazen economic ruin it was causing.

Tinubu made the right call. Didn't Jonathan want to remove subsidy? Did Okonjo-Iweala and Lamido Sanusi not support it?

You can not remove subsidy in phases due to inflation, persistent currency depreciation, and the ever changing price of crude oil.

Thanks for schooling that one.

Let us sale this country patapata