₦airaland Forum

They Don't care who will pay the depts. They feel that after 8years they will no longer be there and the wahala is on top whoever is in power as at that time. Heartless leaders

anonimi:
So why is APC’s Tinubu borrowing dollars from everyone in spite of what you wrote above?

Do you think that he is stealing the money to buy votes and make himself life president like Biya in Cameroon

The money in the foreign reserves does not belong to the Federal Government. It is more like running capital the central bank uses for backing the local currency, for international trade and other expenses.

There was an incident that happened in 2010 in Argentina. Please search: "Argentine central bank head fight to prevent the government using the foreign reserves"

Bluntemperor:
Is that What the Purpose of the Loan for Or
Just your Wild Imagination.?
Besides, Before A Loan Facilities of Such Magnitude ( Dollarised Loan Facilities) Can Be Approved- Intercontinental Wise,There Are Rules and Nigeria Positions of Repaying Such Facilities Must Be Clear and Straight!
What NIGERIANS wants to know is:
• Would These Dollars Loan Facilities Be Used For It's Stated Purpose?
• Who Will Constantly Check On Govt-to know that These Loans Facilities,will Not Be Diverted Somewhere Else?
• When do We( Nigeria) Get Feedbacks Of The Success of These Facilities?
• Which Depts( CBN and Who) - Will Be Directly In Charge of this Dollar Loan Facilities -
-to Monitor from time to time that it achieved the Real Objective and Corruption is not swept it away?
-For example - during Past Govt- till today Dollars Loans - Collected For NEPA/ DISCOS went into Voicemail in Nigeria!
• Who Are The People- that Will Be Accountable For The Success of the Implementation of the loans to achieve what the Original Purpose is meant For?

These are educated questions, and not the usual shallow responses of many here.

40% of the loan is d kickback for AFDB officials involved.
The remaining 60% is shared by Nigeria politicians .
When it comes to remittance, government will increase your burden by increasing VAT etc ,pay some back some amount and request for more loan.

grandstar:
The money in the foreign reserves does not belong to the Federal Government. It is more like running capital the central bank uses for backing the local currency, for international trade and other expenses.

There was an incident that happened in 2010 in Argentina. Please search: "Argentine central bank head fight to prevent the government using the foreign reserves"

How is this dogo turenchi an answer to the question that I asked, which I am repeating below? ⬇️👇🏾

So why is APC’s Tinubu borrowing dollars from everyone in spite of what you wrote above?

Do you think that he is stealing the money to buy votes and make himself life president like Biya in Cameroon

southsouthking:
Borrowing the future of hellinus
He has a lot of debt to pay from his monthly BMC Stipend.

😂🤣🤣🤣🤣🤣🤣🌽🌽🌽🌽

southsouthking:
Borrowing the future of hellinus
He has a lot of debt to pay from his monthly BMC Stipend.

😂🤣🤣🤣🤣🤣🤣🌽🌽🌽🌽yea man

anonimi:
How is this dogo turenchi an answer to the question that I asked, which I am repeating below? ⬇️👇🏾

Listen: The money in the foreign reserves does not exactly belong to the government.

It is a mistake many like you are making.

What the government is borrowing money is already stated in the article. Go and read it again.

adenigga:
Source: https://dailytrust.com/afdbs-loan-to-nigeria-hits-5-1bn

You made a mistake in the heading though is human error

Afi Billiom na

ogolemati:
they are using it to fill in the newly manufactured bullion vans against 2027

😀😀😀

Kukutente23:
What are all these loans for exactly?
I read through the article and I didn't see any meaningful thing the loan is tied to
But zombies swore that APC will not take any loan except its tied to infrastructure projects that are self-sustaining
Are these zombies not unfortunate like this?

You consumed imported products everyday and you asking what dollar loans are for?

nairalanda1:
Loan is for power generation, which happens because

1.Most nigerians are not paying for power
2.Most nigerians are stealing power
3.AT best, less than 20% of consumers pay for power at say market tarrif

Above means the sector does not earn enough profit, meaning that at the end of the day, the sector is too broke to get fresh investment...so government gets a loan, which is very scanty by the way...for the needs it is supposed to meet.

To expand electricity access and generation, we need at least ten billion dollars annually...this one is five billion over two years.

If you are not paying your power bills, or bypassing the meter, you are part of the problem, rich or poor. If you are opposed to cost reflective tarrifs because we are all poor, then no one else will pay for 24 hour power, and as such we will get scanty power for scanty pay.

Remember our budget is 30 trillion naira without stealing or corruption. If the budget was 150-200 trillion naira annually, we would have been able to pay for improvements without stress. But because tinubu and apc are running an economy based on a limited amount of oil and not fighting corruption, and paying subisides that have not worked at all in four decades, here we are.

Let's face reality for once.
Every sane person knows that Nigerian government borrow dollar loans to defend the naira, provide forex liquidity for importation and loot the rest.

Gboss247:
You consumed imported products everyday and you asking what dollar loans are for?

I don't get
Our foreign reserves have been rising
Why do we need loans for

Gboss247:
Let's face reality for once.
Every sane person knows that Nigerian government borrow dollar loans to defend the naira, provide forex liquidity for importation and loot the rest.

It's true, but the loans here are specifically for power generation, not for 'defending the naira'. Not all loans are the same.

nairalanda1:
It's true, but the loans here are specifically for power generation, not for 'defending the naira'. Not all loans are the same.

If they are not for defending the naira, while borrow nairas for power generation?

Kukutente23:
I don't get
Our foreign reserves have been rising
Why do we need loans for

Your forex reserves have been rising to where?
APC met at $60 billion and after 10 years, they are celebrating it at $46 billion.
A country of 230 million people with peanuts as forex reserves with a lot of dollar debts.