₦airaland Forum

Hez143:
all countries in the world do borrow,even the mighty US and UK.i expect sanusi to know better

Do they borrow for consumption like Nigeria?

finally an elite is taking a bold step

J

COMPAQ:
It doesn't even mean we still cant borrow, but let the borrowing be tied to very specific capital projects.

What are we borrowing for?

We absolutely don't qualify to talk of borrowing when nobody has seen any benefits of subsidy removal in the first place.

I wonder oooo
The same question I have been asking.
Even those wey pay subsidy no borrow reach them. We need people like you at the forefront to keep helping us asking these questions. Too bad we don't have strong opposition

Septuagenarian:
Sanusi always talks for propaganda sake sometimes, if we dont borrow just because we are saving money from subsidy, are those savings enough to cater for the huge amount of projects and infrastructure deficit we are having? Lagos-Sokoto 1000km road is expensive, shey na 1trillion naira go finish am? Lagos Airport modernizarion, Lagos-Calabar road is there amongs many other ongoing projects everywhere in the country. My advise is for FG to borrow more than $100billion, use the money to build the infrastructure, toll them and use those tolls to payback the loans in time, we will have the infrastructure for our generations to use and also improve our economy faster than this small small borrowings. Sanusi should go sit down somewhere because of kano politics.

why is he borrowing to build new roads when the existing roads are bad, what happens to repairing and expanding existing roads? There's no state in Nigeria that doesn't have and exiting connecting road to other states. Building new roads at a higher cost rather than fixing existing ones at a cheaper rate is a bad economic policy. The money spent on these roads can be used to fix power.

Gboss247:
Do they borrow for consumption like Nigeria?

we no longer borrow for that,we are borrowing for infrastructural development

Hez143:
all countries in the world do borrow,even the mighty US and UK.i expect sanusi to know better

And what are the social and economic differences in these countries mentioned compared to Nigeria?

ZUBY77:
The question is borrow to do what? That's the real question here. Where is the money they are borrowing?

See question!
Imagine the citizen of an import dependent nation asking where they are borrowing.
The dollars used to paid for the foreign and services you consume, do they fall from the sky?

Septuagenarian:
Sanusi always talks for propaganda sake sometimes, if we dont borrow just because we are saving money from subsidy, are those savings enough to cater for the huge amount of projects and infrastructure deficit we are having? Lagos-Sokoto 1000km road is expensive, shey na 1trillion naira go finish am? Lagos Airport modernizarion, Lagos-Calabar road is there amongs many other ongoing projects everywhere in the country. My advise is for FG to borrow more than $100billion, use the money to build the infrastructure, toll them and use those tolls to payback the loans in time, we will have the infrastructure for our generations to use and also improve our economy faster than this small small borrowings. Sanusi should go sit down somewhere because of kano politics.

That is one of the reasons those road projects were initially criticized to have embarked on. You don't engage in such humongous projects in a country like Nigeria when there are other vital things to cater for. That's failure on its own. No proper planning

Hez143:
we no longer borrow for that,we are borrowing for infrastructural development

What is borrowing loans for importation and repatriation foreign investors profits back home called?

That's Bojuboju economics at play here. You can never understand what bulaba is doing. No one has been able to understand what he has been doing in Lagos for 27yrs .

COMPAQ:
It doesn't even mean we still cant borrow, but let the borrowing be tied to very specific capital projects.

This is the part Buhari was smarter than Tinubu 🤷🏿

The past government no do infrastructure? Pls google the number of infrastructure PMB did

Hez143:
we no longer borrow for that,we are borrowing for infrastructural development

The a first class accounting graduate who is also a NADECO member so his decisions are perfect

You removed subsidy and still borrowing

It is either they are looting the money or his induced inflation has messed up with naira value

Can this man just be taken out? Can he leave the scene for us? He is damaging our country

We are still borrowing, and we are going to still borrow because we are not interested in becoming a serious nation that manufactures things and exports them. Rather we want to just sell oil or resources, share the money, and import stuff.

And as long as we have this attitude that this is the way to go we shall be borrowers.

I hate making comments about economics on this site, because Nigerians are too immature or campaigning for obi or tinubu to sit down and think things through.

richiemcgold:
Even after almost 4 years of subsidy removal, Nigerians cannot feel any positive impact. Poverty has not been alleviated, it has rather increased at a very alarming rate. Economy and electricity have gone from bad to worse. Average Nigerians have gained nothing so far. SMH

This is an apt description of everyday life of majority Nigerians under this government. Then add the acute insecurity, the cycle of doom is complete.

This one thrown don tire ram.
It is like Sanusi is tired of his fake thrown....
Watch out.He will soon be thrown out of the palace.

Parachoko:
Nigeria was borrowing to pay for subsidy before Asiwaju became the President

Under Jonathan, we were borrowing to pay Salaries, borrowing to pay for subsidy, Pension, and also borrowing to build projects

Under Buhari, we were borrowing to pay subsidy on fuel, and also borrowing to pay salaries, pensions and also borrowing to build projects
Under Asiwaju, we're not borrowing to pay pensions or salaries, we're not borrowing to pay for subsidy, we're only borrowing to spend on Capital Projects.
I expect Sanusi to know there's no problem borrowing to build capital projects

which capital projects

rehabilitation of boko Haram and empowerment

Don't let tribalism ooze through you

I will advise the respected Emir to be careful in criticizing the President & APC led federal government. His state Governor just recently decamped to the APC.
Nigeria politics & power game is very dirty

Parachoko:
Nigeria was borrowing to pay for subsidy before Asiwaju became the President

Under Jonathan, we were borrowing to pay Salaries, borrowing to pay for subsidy, Pension, and also borrowing to build projects

Under Buhari, we were borrowing to pay subsidy on fuel, and also borrowing to pay salaries, pensions and also borrowing to build projects


Under Asiwaju, we're not borrowing to pay pensions or salaries, we're not borrowing to pay for subsidy, we're only borrowing to spend on Capital Projects.

I expect Sanusi to know there's no problem borrowing to build capital projects

Keep quiet there you.

Parachoko:
Nigeria was borrowing to pay for subsidy before Asiwaju became the President

Under Jonathan, we were borrowing to pay Salaries, borrowing to pay for subsidy, Pension, and also borrowing to build projects

Under Buhari, we were borrowing to pay subsidy on fuel, and also borrowing to pay salaries, pensions and also borrowing to build projects


Under Asiwaju, we're not borrowing to pay pensions or salaries, we're not borrowing to pay for subsidy, we're only borrowing to spend on Capital Projects.

I expect Sanusi to know there's no problem borrowing to build capital projects

U are decieving urself. u are not borrowing to pay pensions and salary like buhari didn't build capital projects or Jonathan didn't build projects?

Lithiumite post=139198426

:
If the expenditure (recurrent &capital)side of your budget is higher than your expected revenue, then your budget will run into deficit which is the difference between both components.......you have to finance that deficit so that your budget doesn't fail.

It seems you run on selective memory, who created the budget, if re current expenditure higher what have Tinubu govt done to cut down on govt expenditure,
Remember, subsidy on pms, education and partly electricity is out ... ones that concern ordinary dem do am
ON govt side what have tinubu done to re current expenditure, you tell Nigerians tighten your belt buh him & wike dey chop chicken n cow laps

Nigeria's 2025 budget deficit was about N13trn while projected subsidy payments was about N5tr......if you were tobuse basic income and expenditure analogy your subsidy savings isn't even enough to fund your budget deficit.....therein lies a bit of the answer to your question.

Is it not even an abberation to posit " deficit" by same Govt acclaiming highiest record of revenue, reform is bring more money. after removing all subsidy obligations we now have a deficit thans even more than the Budgets that carried subsidy how does it even sound sho mu ori pi pé waaa
Our budget benchmark is $65, and becos of global crisis crude is now $103 .... Is that not a plus But instead we see Tinubu demanding for loan back to back .. ??

You need to service your debts and you arevare obligated to pay them.momies meant for construction of roads,hospitals and other social amenities is being used to cater for.

These are irrelevant talks, A govt that enjoys a subsidy burden relief .. Has better chances of money accumulated funds to save nd finance projects ... Buhari commissioned power plant, commissioned 4th land bridge, kaduna train stations and roads

what does Tinubu that does pay subsidy have ..asides ongoing roads, Govt that paid subsidy did more visible projects and the loans are less despite subsidy ..

Dont just argue think

Lalami3232:
E shock me too ooooooo, oga sanusi. All these Nigerian politicians are the same thing jare. Believe anyone of them, at your own peril. But I rather believe a Nigerian politician than not go for DNA test if I marry a non-virgin.

What do I even know sef aside enlightening my fellow men nationwide with the good news of DNA test

Simple answer:
To provide infrastructure that has been in decay from the days of OBJ. It's massively done now all over the country. Subsidy savings have allowed us to effectively run governments, I mean governments, repay loans that are due without rescheduling and pay bills as and when due as well as save for the rainy day through increased reserves.

Borrowing will continue until our tax to gdp rate increases to average in the world. Ours is far bellow average. Sanusi as an economist should be asking about what the borrowed funds are used for. He can help us expose if they are used for recurrent expenditure. Which I don't expect an experienced finance person like PBAT to sanction.

Rubbish talk from Sanusi that shows many so-called Nigerian intellectual are nothing more than glorified bigots when the chips are down and they feel their side is losing.

They begin to bastardize their own knowledge and training to fool Nigerians they assume are illiterates.

For how ludicrously far Nigeria has fallen behind , due to decades of misrule, who is dumb enough to think subsidy removal savings is now enough to solve all of our severe problems and turn us into Singapore overnight?

Abeg is saving from subsidy removal gazillion dollars or what is Sanusi saying?

President Tinubu has assented to the 2026 Appropriation Bill with an aggregate expenditure ( capital and recurrent ) of ₦68.32 trillion. for all the affairs of governing a nation of 240 million people approx based on what we will earn cumulatively as a nation (crude sale, iGR, Tax remittance etc) to include fuel subsidy savings.

For context, South Africa, with 65.5 million people approx i.e almost a quarter of the population of Nigeria, has a 2026 - 2027 budget of 2.67 trillion rand which is around 216 trillion Naira.

Additionally, and as one definitive citation, our power distribution and generation companies insist the FG owe them 6.2 trillion Naira since 2013-2014.

GEJ and Buhari failed to pay that debt and only piled more on top of it. This is why DISCOs and GENCOs have effectively downed tool today.

Responsibly, Tinubu sanctions an audit to reconcile what is owed to them and has agreed to pay a structured 3.3 trillion Naira to get power supply back on track and boost investor confidence in our privatised power sector.

If we insist PBAT must not borrow, then let us remove even a fraction of 3.3 trillion out of our 2026 budget.

The total figure begins to dwindle , per income to outgoings ratio, before addition of so many areas needing urgent attention meaning a failed budget !!!

The advanced sale of crude Buhari and his cronies got literally many billions for, if not trillions, and left for the incoming Government of Tinubu is to be cleared by who exactly if not Tinubu?

Same PBAT has shown his accounting background diligence and dedication to debt repayment and respect for contractual obligations all Presidents before him lacked.


To be borne in mind is the fact the FG is still paying subsidy in the power sector etal and has initiated the biggest grand scale delivery of critical infrastructure Nigeria has seen since 1999.

I could go on all day and the depressing picture will be that Nigeria still has far less income than she needs to continue to secure post 2-3% annual growth she needs to attain an independent and upscalable level of socio-economic strength, greater GDP, per capita income, SME growth, greater capacity to attract FDI, diversified economy etc etc, etc.

Sanusi who is a far more knowledgeable person than me, a layman, is aware of all this and he chooses to be deceptive especially given that his kinsman Buhari has done the most damage to the socio-economic fortune of Nigeria since our current democracy began in 1999.


Yes OO we don't need to borrow at all since Sanusi announces so and the ignorance, bias and prejudice of many Nigerians allow them blindly accept his jaundiced and gaslighting manipulation.

Subsidy savings is gazillions of dollars as the likes of Sanusi want to fool ignorant Nigerians it is. Go and arrest Tinubu for hiding those savings under his mattress when he should be using it to transform Nigeria into Dubai in two months

@Parachoko, you're the only intelligent responder to this post, bar the ones I didn't read.

PBAT is borrowing to build capital projects. Once there's a revenue gap, you can borrow to fill the gap. If Nigeria is targeting a $1 trillion economy by 2030it needs to borrow to build infrastructure. This is basic economics. The comments I'm reading about the need to borrow are too naive and simplistic.

Amoda might end up being the first Nigerian President to be jailed for stealing and looting government money as e de go so

I have a question for Data boys and Nairalanders who voted for Baba Chicago 🤔




How Market naaaaaa 🤔

😅😅😅😅😅😅😅🤣🤣🤣🤣🤣🤣🤣🤣

There is nothing wrong with borrowing

Dem go soon depose him now for saying the truth

This one wan start again? Remember Kano govetnor already with us and Kwakwashit no longer in grip of Kano we will surely dethrone you that is very sure 100%

You knw you already offended us when you lied against Gej and eventually joined Amaechi, and Timipere with Baraje to start Gej must go that put us in these mess we never forgive you we are coming for you it's a matter of time....

jaxxy:
U are decieving urself. u are not borrowing to pay pensions and salary like buhari didn't build capital projects or Jonathan didn't build projects?

List out the road projects Jonathan constructed, let's compare it to the ones Asiwaju is constructing