If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi - Politics (9)

If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi - Politics (9) - Nairaland

Nairaland Forum › Nairaland General › Politics › If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi (26443 Views)

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Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by Parachoko: 2:55pm On Apr 24

zegxy:
all i see here is lies, upon lies.

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by Leonardo4(m): 2:56pm On Apr 24

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

But the total money borrowed by Tinubu in less than 4yrs is already almost twice what Jonathan borrowed in 6yrs or what Buhari burrowed in 8yrs. Where is ur sense

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by Rupertek: 2:57pm On Apr 24

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

Where the capital projects?

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by Parachoko: 2:58pm On Apr 24

Leonardo4:
But the total money borrowed by Tinubu in less than 4yrs is already almost twice what Jonathan borrowed in 6yrs or what Buhari burrowed in 8yrs. Where is ur sense

Show us their total debts in US dollars

1 Like

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by Apcshit: 2:59pm On Apr 24

Sanusi is one of the daft people that imposed APC on us.Useless thing

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by AdUlAM(m): 3:04pm On Apr 24

This is the simplest question in the history of mankind.. baba has got itchy fingers and something must be moved. As simple as abc.

1 Like

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by AdUlAM(m): 3:09pm On Apr 24

Projects that are just in your imagination abi?

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

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by MEGAWATCH: 3:17pm On Apr 24

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

With only less than 10 percent spending on most of our 2025 budget?

I don't know weather it is Tinubu that is a Fool or his supporters.

Even if they are under curse?

🔥🔥🔥🔥

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by Emusan(m): 3:23pm On Apr 24

Image123:
Get a life, then a brain, then a good job.

I might be wrong but it seems You and ALL APC supporters have this GOOD Job.

So, how can other Nigerians have the same Good Job since all the Jobs Nigerians have before APC aren't good job?

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by AFONJACOW(m): 3:27pm On Apr 24

He said borrowing is part of leadership... The agba baller is enjoying retirement age... He can't do without looting

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by Putinofrussia: 3:31pm On Apr 24*

iwaeda:
"If you're not paying subsidy and you've got the money, why are we still borrowing?" — Lamido Sanusi questions federal government's economic policies and borrowing plans.

"If you're not paying subsidy and you've got the money, why are we still borrowing?" — Lamido Sanusi questions federal government's economic policies and borrowing plans pic.twitter.com/QjGemTVjVJ
— TheCable (@thecableng) April 24, 2026

Mumu question.South Africa has 5 times debt more than Nigeria,why are they still borrowing?
Why are China and USA still borrowing even as they are some of the richest nations in the world?

The subsidy Buhari paid in 8 years was #11 trillion naira.
Last year,the budget needed #40 trillion and revenue the govt got was #10 trillion according to Wale Edun.
Mr Sanusi,is the govt going to use sand to make up the remaining #30 trillion to fund the budget?

As someone who knows a little about Economics and its cohorts,what you or any literate person should ask is...
What are you spending these loans on?
Lots of projects that have never been witnessed in Nigeria are on going , coupled with humongous social welfare,health subsidies etc.
Most previous govts (except a few military govts who could have done triple then but decided to embezzle the funds but still built something) did not build infrastructures but just one or two.
What they did mostly was import food like rice so we could buy at...like some people will say "sheybi we were buying a bag of rice for #3000 now"?
We were/are shameless,importing everything.
No production,No infrastructures,No health,
ASUU strikes all over because they have eaten their money,they were owing workers up to 20 months and so on.
Tinubu has only borrowed around $32 billion and he has paid off around $11 billion he met on ground.
Why are the wicked,let us go back to 'business as usual opposition not asking "Why is Tinubu paying debts he met on ground now"?
Or "why is he doing free technical colleges all over Nigeria with #22,500 stipend paid to students now"?
Bad belle people.
Nigeria,since 1960,has gotten very wicked people as leaders.
You like and go to USA,UK,China,Dubai even South Africa because of their infrastructures which always help in growth,development and better life for the masses of the nation but wicked people are fighting teeth and nails for Nigeria to not build infrastructures.
I never see this kind opposition before.
Opposition is not being mumuish nah.

4 Likes

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by CorrectionFLuid: 3:47pm On Apr 24

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

That money he claims he has can also be tied to very specific capital projects. Stop deflecting

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by Guestmale: 3:50pm On Apr 24

jchioma:
That's the question every logical and sane human being should be asking.

But trust APC data boys to attack Sanusi now.

NELFUND is a loan to students who will pay it back. We don’t even know yet whether it is a blessing or a curse in future sef!

Despite subsidy removal? What happens to the trillions saved from the removal? Nigeria is over N18 trillion in debt under Tinubu who has also borrowed over $20 billion in the last 3 years, is it not logical to ask why more borrowings when we should be more prudent and circumspect of the effect on the country's economy and future?

What of the debts cleared by this government
The power Sector Debt (₦3.3 Trillion): Approved in April 2026 to settle legacy debts owed to power generation companies to improve electricity reliability.

The NNPC Debt Cancellation ($1.42B - $5.3B): In late 2025, approved to wipe off major debts owed by the Nigerian National Petroleum Company Limited to the federation account.

Airline Industry Relief (30%): Approved a 30% reduction on outstanding debts owed by domestic airlines to aviation agencies (April 2026).

IMF Debt Clearance ($1.61 Billion): Nigeria paid off its $1.61 billion loan to the International Monetary Fund, achieving a debt-free status for this facility.

Moreover have we asked our governors what have they been doing with increased allocations they have been collecting since the beginning of this regime.

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by Ofemannnu: 4:01pm On Apr 24

Leonardo4:
But the total money borrowed by Tinubu in less than 4yrs is already almost twice what Jonathan borrowed in 6yrs or what Buhari burrowed in 8yrs. Where is ur sense

As Nigeria grows, you pay more subsidy.
Jonathan didn't pay up #3 trillion as subsidy and Buhari paid only #11 trillion.
What most people didn't know is with paying of subsidy..
1.Your refineries were fatally damaged because of what the wicked were getting from oil subsidy.
2.There would never be any Dangote refinery and the others.

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by GOLDSON888: 4:07pm On Apr 24

Very Good questions

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by Digmygold: 4:08pm On Apr 24

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

How you take know? The next administration will let you know the truth.

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by dododawa1: 4:15pm On Apr 24

over to

I will handle ECONOMY

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by hoseao(m): 4:17pm On Apr 24

The truth is there was no money in the first place for subsidy! Buhari was busy borrowing to fund subsidy.

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by gaskiyamagana: 4:20pm On Apr 24

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

Specific projects of corrupted value/cost , inflated amount, poor execution, corrupt supervision and haphazardly completion?

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by Choiceone1: 4:27pm On Apr 24

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

He has now borrowed more than all of them combine is that not corruption personalised

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by Choiceone1: 4:31pm On Apr 24

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.

Who sent him frivolous project wen there's no electricity. There's roads linked to Sokoto already. Just to embezzle money

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by KobolanderSegun: 5:04pm On Apr 24

Greatex90:
My brother keep whist.
There is no justification whatsoever for borrowing.
What improvement have you seen in Nigeria as regards infrastructural development.
Security is on zero levels, No jobs,
Commodities are unpayable.
What is he borrowing for.
It's 4 years yet no constant Light.

You quit paying subsidy yet no Nigerian refinery is working.
You nothing to say about this backward APC GOVERNMENT

Omo we done give you chair Four of us are carrying you high on the chair. Kabiyesi o !!! I don't know who swag pass you or sanusi. I look Sanusi I look you... I look Sanusi I look you. I raise up your hand.

Do people understand Sanusi went to Kings College Lagos for secondary School !

From The Internet
Tinubu’s background and schooling have been controversial since he was governor of Lagos state, between 1999 and 2007.

The controversy has been well reported in the media over the years. Rumours include allegations that Tinubu falsely claimed he attended St Paul Children’s Home School and secondary education at Government College, both in Ibadan in southwestern Nigeria.

But has Tinubu said he graduated from Government College Lagos in 1970?

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by femi4: 5:26pm On Apr 24

Yawo yawo government

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by jchioma: 5:46pm On Apr 24

Guestmale:
What of the debts cleared by this government
The power Sector Debt (₦3.3 Trillion): Approved in April 2026 to settle legacy debts owed to power generation companies to improve electricity reliability.

The NNPC Debt Cancellation ($1.42B - $5.3B): In late 2025, approved to wipe off major debts owed by the Nigerian National Petroleum Company Limited to the federation account.

Airline Industry Relief (30%): Approved a 30% reduction on outstanding debts owed by domestic airlines to aviation agencies (April 2026).

IMF Debt Clearance ($1.61 Billion): Nigeria paid off its $1.61 billion loan to the International Monetary Fund, achieving a debt-free status for this facility.

Moreover have we asked our governors what have they been doing with increased allocations they have been collecting since the beginning of this regime.

So, all these monies were paid from subsidy removal? You forget that Nigeria as an oil producer nation generates trillions annually from sales of crude oil and other bye products? A prudent country with huge reserves should have no business going from place to place borrowing money even after removing subsidy that rakes in more trillions.

Let’s just say we are not ready yet for the change we need to put the country in the path of true prosperity and stability.

1 Like

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by buhariguy(m): 5:52pm On Apr 24

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

the money saved from removing subsidy supposed use to finance the capital project,
We're talking about 4 trillion subsidy funds each year

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by buhariguy(m): 5:57pm On Apr 24

MEGAWATCH:
With only less than 10 percent spending on most of our 2025 budget?

I don't know weather it is Tinubu that is a Fool or his supporters.

Even if they are under curse?

🔥🔥🔥🔥

none is a fool,

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by Leonardo4(m): 6:03pm On Apr 24

Ofemannnu:
As Nigeria grows, you pay more subsidy.
Jonathan didn't pay up #3 trillion as subsidy and Buhari paid only #11 trillion.
What most people didn't know is with paying of subsidy..
1.Your refineries were fatally damaged because of what the wicked were getting from oil subsidy.
2.There would never be any Dangote refinery and the others.

Dangote refinery had nothing to do with subsidy it was hatched and completed in Buharis tenure

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by Parachoko: 6:21pm On Apr 24

buhariguy:
the money saved from removing subsidy supposed use to finance the capital project,
We're talking about 4 trillion subsidy funds each year

Which money was saved from Subsidy?

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by Ginomel(m): 6:23pm On Apr 24

GODISGREAT123:
We are borrowing money because Tinubu is a first class graduate of accounting

You can't understand Sir

A non Virgin must have broken your heart.

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by Kemetian: 6:28pm On Apr 24

Greatex90:
My brother keep whist.
There is no justification whatsoever for borrowing.
What improvement have you seen in Nigeria as regards infrastructural development.
Security is on zero levels, No jobs,
Commodities are unpayable.
What is he borrowing for.
It's 4 years yet no constant Light.

You quit paying subsidy yet no Nigerian refinery is working.
You nothing to say about this backward APC GOVERNMENT

Where and where have you been to in Nigeria to say there’s no improvement in infrastructure?

Small boy sitting in his room typing rubbish.

Re: If You're Not Paying Subsidy, Why Are We Still Borrowing? - Sanusi by Image123(m): 6:34pm On Apr 24

Emusan:
I might be wrong but it seems You and ALL APC supporters have this GOOD Job.

So, how can other Nigerians have the same Good Job since all the Jobs Nigerians have before APC aren't good job?

You're wrong as usual.

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