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Oil Slump: FG May Borrow From World Bank, Others - Business (5) - Nairaland

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Nigeria’s Oil Fields Face Shutdown Amid Price Slump / CBN Allows New Businesses Borrow From N220bn MSME Fund / Oil Slump: Banks Face Financial Distress (2) (3) (4)

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Re: Oil Slump: FG May Borrow From World Bank, Others by InvertedHammer: 2:56pm On Jan 02, 2015
/

No need to borrow from World Bank.

If they can recover the stolen $20bn, then Nigeria will still have excess $15billion

But then and again, who will bell the cat?
.


\

1 Like

Re: Oil Slump: FG May Borrow From World Bank, Others by swezenberg(m): 3:23pm On Jan 02, 2015
ednut1:
the west are jst plain evil. all dis oil crash na der handwork. btw okonjo shud fuk off

What exactly has the west done this time. Are you blaming them for making things easier for their people. They said they want to start producing their own oil and make life easier for their people. Right here in US I am happy because the price of Gas has really gone down to almost 2 dollars per gallon in some states although I still buy mine for 2.60 dollars per gallon in Pennsylvania which is far cheaper than the previous 3.19 I was paying.

It is your government in Naija you should talk to not the west. We have embarked on oil production from Shale here so we don't need Naija oil again. Besides we now have other means of energy generation apart from oil. Naija will still drink that oil if the country does not consider other resources.

So before you blame the west try to get yourself informed.

3 Likes 1 Share

Re: Oil Slump: FG May Borrow From World Bank, Others by MadCow1: 3:26pm On Jan 02, 2015
We wan borrow 5 Billion dollars when Allison Madueke lost 20billion dollars.. grin


Thanks GEJ...
Thanks Okonjo Iweala..
Thank Stella Oduah..
Thanks Patience Jonathan.
Thanks Allison Madueke..
Thanks Labaran Maku. .
Thanks Okupe. .


We have had enough.. Another 4 years would mean 10 years of rot, insecurity, economic stagnation and Unbridled corruption.

We thank GEJ for pardoning Alamiesigha that we suffered to jail..

We thank PEJ for making Rivers State ungovernable. .

We thank CSP Mbu for highlighting GEJ'S disregard for rule of law and order.

We thank Otedola and Farouk Lawan for showing us how rotten our Nation is and how tolerant our government is of corruption.

We also send a special shout out to all those who died during occupy Nigeria protest.. The money is still being stolen, Fuel price still increased from 65 to 97 Naira, Oil prices have dropped worldwide but Price of Nigerian Fuel has not even shaken.. I hope the living have learnt from your death.

Special thanks to those who stole Nigerian Police Pension monies.. Na because of una our Police are now hustling their pensions on illegal checkpoints nationwide.

NNPC and our 50 abi 20 billion Naira.. That matter dey God hand because we know say the moment we shout, una go burn una office as usual then claim say all documents were burnt in the fire.. grin

GEJ, CBN, NNPC and Okonjo Iweala.. We appreciate how none of you know where the monies from Nigeria's Crude Oil sales are entering.. Wether JP MORGAN or Savannah Bank.. But thanks for such cluelessness.


160 million people have had enough..

You have shown us your ability.. Time for change is now.

7 Likes 4 Shares

Re: Oil Slump: FG May Borrow From World Bank, Others by kaz4sure: 3:34pm On Jan 02, 2015
The question we should ask the government is what have they been doing with the fund in the excess crude oil account?
Re: Oil Slump: FG May Borrow From World Bank, Others by napoleonbaba(m): 3:56pm On Jan 02, 2015
koredeolanrewaju:
Am just crying for our Govt borrowing from outsiders when we have our CBN functioning and that can print for as many monies as possible..y borrowing? Let them print for this project to be executed instead of debt financing. Too much nah..crazy pple. God will help us in this country.


Wait u graduated from Sambisa university of advanced macro economics right?
Re: Oil Slump: FG May Borrow From World Bank, Others by Parolee: 3:59pm On Jan 02, 2015
I once asked a while back in this forum the meaning of the name Ngozi in the Nigerian context and was told it means Blessing.

Here in South Africa - Ngozi in isiZulu language means Danger.
Re: Oil Slump: FG May Borrow From World Bank, Others by chaloner(m): 4:10pm On Jan 02, 2015
datribune:


Don't get it twisted. d situation in 1983 is about to repeat b4 our very eyes. b4 Buhari took over in 1983 d politicians of d NPN, d ancestor of d current PDP looted d country to bankruptcy to d extent dat no one was willing to borrow d heavily indebted Nigeria any more money. GMB came in & paid part of d debt incurred by d thieving politicians, d rest of which OBJ paid-off recently. No patriot will pray dat d NPN scenario of 1983 should play out in 2015.
bro I understand but nt dis time he should hav come durin abacha or obj not now we re tryin to build strong nigeria n tell him to wait after 2019
Re: Oil Slump: FG May Borrow From World Bank, Others by ooshinibos: 4:28pm On Jan 02, 2015
Ayekotoo:
God, what have we done to deserve this as a country? We have people in governance that lack the creativity needed to transform our country. Must we always borrow? OBJ paid the debt, Jona is racking it up again. All the previous debts taken for capital projects have not been accounted for, now we are to take more.
and let me add , what happened to the external reserve of 36 billion dollars that obj left behind ?

1 Like

Re: Oil Slump: FG May Borrow From World Bank, Others by datribune: 4:37pm On Jan 02, 2015
chaloner:
bro I understand but nt dis time he should hav come durin abacha or obj not now we re tryin to build strong nigeria n tell him to wait after 2019


dis is d perfect time because d situations ar very similar. In 1983 politicians looted d country to bankruptcy in d worst economic recession in our history & racked up massive external debt some of which Buhari paid & d rest was paid recently by OBJ. Should we continue on dis path dat we ar threading, we might end up God forbid, in d precarious economic situation dat led to d end of d second republic in 1983.
Can we afford to go on dis way?. Never in our history has d gap between d rich & poor been wider. because of govt policies & corruption, d rich, govt sponsors & donors keep getting richer & d poor keep getting poorer. Our economy is d largest in Africa. d richest black man in d whole world is a Nigerian. d richest black woman in africa is a Nigerian but majority of nigerians live below $2 per day. Can we go on dis way?. Vote wisely. I wish u luck on ur decision on who to vote 4.
Re: Oil Slump: FG May Borrow From World Bank, Others by 14DUI(m): 4:54pm On Jan 02, 2015
All i know is that Nigerian deserve the leader they get, pls vote GEJ for another 4 years and continue your transformation.....
All i know is that me and my generation will not pay a dime in the loan GEJ borrow and, it is sure the hardship has just started....
It's only a mad man will do same thing over several times and expect different outcome.

Nigerians, you future is in your hands.....
Vote come feb.14 and enjoy your decision from Feb.15....

Note: I will not borrow anything in life and expect my children to pay the burden.... that exactly what this GEJ is doing, you are already feeling the hardship in the devaluation of the naira when you live above your means..

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Re: Oil Slump: FG May Borrow From World Bank, Others by 14DUI(m): 4:59pm On Jan 02, 2015
swezenberg:

What exactly has the west done this time. Are you blaming them for making things easier for their people. They said they want to start producing their own oil and make life easier for their people. Right here in US I am happy because the price of Gas has really gone down to almost 2 dollars per gallon in some states although I still buy mine for 2.60 dollars per gallon in Pennsylvania which is far cheaper than the previous 3.19 I was paying.
It is your government in Naija you should talk to not the west. We have embarked on oil production from Shale here so we don't need Naija oil again. Besides we now have other means of energy generation apart from oil. Naija will still drink that oil if the country does not consider other resources.
So before you blame the west try to get yourself informed.

my brother, there is little you can do to help people that are suffering from their own handwork....
I am happy buying gas at 1.68 dollaer per gallon here and i know it will get lower as things progress...
Let Nigerians continue their goodlock/greedlock

1 Like 1 Share

Re: Oil Slump: FG May Borrow From World Bank, Others by eagleonearth(m): 5:01pm On Jan 02, 2015
The fiscal document is also
targeting a projected
aggregate revenue of
N3.602tn made up of
N1.918tn oil revenue and
non-oil revenue of
N1.684tn.
This, according to analysis,
will imply a ratio of 53 per
cent oil revenue to 47 per
cent non-oil revenue.
The budget also projects a
Gross Domestic Product
growth rate of 5.5 per
cent, with non-oil revenue
(including non-Federation
Account funds) of N1.68tn;
fiscal deficit of N755bn (or
0.79 per cent of GDP); and
domestic borrowing of
N570bn, down from
N571.9bn in 2014.
The 2015 budget proposal
has a N4.358tn
expenditure figure made
up of N412bn for statutory
transfers, N943bn for Debt
Service, N2.61tn for
recurrent expenditure
(non-debt) and N634bn for
capital expenditure
(inclusive of the Subsidy
Reinvestment and
Empowerment
Programme).
POVERTY RESULTS WHEN YOU SPEND MORE THAN YOU EARN.
Re: Oil Slump: FG May Borrow From World Bank, Others by swezenberg(m): 5:57pm On Jan 02, 2015
14DUI:


my brother, there is little you can do to help people that are suffering from their own handwork....
I am happy buying gas at 1.68 dollaer per gallon here and i know it will get lower as things progress...
Let Nigerians continue their goodlock/greedlock

My brother please which State is that? 1.68 is a serious reduction.Please let me know where you are because I don't know why it is still expensive in Penn State. My former colleague in Illinois told me he buys for 2 dollar per gallon.

DUI - I hope you don't Drive Under the Influence of ********. You know what I mean grin
Re: Oil Slump: FG May Borrow From World Bank, Others by OmoUSH(m): 7:17pm On Jan 02, 2015
koredeolanrewaju:
Am just crying for our Govt borrowing from outsiders when we have our CBN functioning and that can print for as many monies as possible..y borrowing? Let them print for this project to be executed instead of debt financing. Too much nah..crazy pple. God will help us in this country.
A country filled with in depth cluelesness and daft stars, PATHETIC!
Re: Oil Slump: FG May Borrow From World Bank, Others by Hilaskee(m): 7:50pm On Jan 02, 2015
Obinoscopy:
What miracle did he achieve concerning the economy?
he paid up almost all the debts owed at that time and built more oil depots in our refineries...check your records
Re: Oil Slump: FG May Borrow From World Bank, Others by Remii(m): 9:37pm On Jan 02, 2015
calebo101:


You mean the miracle of cancellation of railways and housing projects?

You actually want buhari to come and stop all infrastructural projects, keep money in the bank and finally turn Nigeria to Zimbabwe, right?

Sometimes i sincerely wish you guys look beyond your shadows and see the brighter light.

even GEJ will not do anything this year, capital budget is less that N700B out of N4.6 trillion they plan to spend. N2.6Tr is for their salaries while N930B is to service debts, check facts and be sure of why you are support politicians, those guys don't care about us.m
Re: Oil Slump: FG May Borrow From World Bank, Others by simdam500(m): 9:41pm On Jan 02, 2015
yommyphresh: Obo n laagun
ehn!
Re: Oil Slump: FG May Borrow From World Bank, Others by simdam500(m): 9:47pm On Jan 02, 2015
our oil now worthless! we now need to borrow money from the world Bank... I think the minister of finance is appointed for this time.... what have she been doing, this is the time she need to make us feel we have a minister of finance...

fvck okonjo! fvck GEJ! fvck PEJ
Re: Oil Slump: FG May Borrow From World Bank, Others by philipobiz: 9:59pm On Jan 02, 2015
What a post by everyone. Conclusion of the matter haven been read and analysed, we are yet to see the worst of this country. Get prepared everyone and fasten your belts!
Re: Oil Slump: FG May Borrow From World Bank, Others by tonte(m): 10:16pm On Jan 02, 2015
I dunno...erm am I supposed to know?

MissMeiya:


¬_¬

Imaginary money. I didn't ask how much it is hypothetically, and I asked WHERE IS IT. Three times, actually.
Re: Oil Slump: FG May Borrow From World Bank, Others by 14(m): 11:39pm On Jan 02, 2015
Kessyy2k4:
buh....we are rated as the biggest Economy in Africa now are my missing sumfin? madam NOI use don package our money inside ur Gale abigrin

by the time GMB come Aso rock, u & ur boss GEJ go shelter in KIRI-KIRIgringringrin

Biggest economy in Africa with only $23 Billion budget for 160m population
South Africa with a budget of $120 Billion for 55m population, 6 times that of Nigeria. Do your maths. Your economy is fake my man. Its a paper economy.

1 Like 1 Share

Re: Oil Slump: FG May Borrow From World Bank, Others by zo3184: 11:59pm On Jan 02, 2015
We are fools.
Re: Oil Slump: FG May Borrow From World Bank, Others by mako007(m): 12:19am On Jan 03, 2015
If the country is broke, let the country play pool abi sports betting.
Re: Oil Slump: FG May Borrow From World Bank, Others by Larrydee(m): 2:26am On Jan 03, 2015
grin Oga cool down na. Just educate the lad already. I had a good laugh tho. grin cheesy

tonte:
I'm assuming that you are just joking with this your post...if you are not, then I'd like to assume that you are underage and so cannot understand anything that has to do with macroeconomics, and if you aren't underage and you think like this, then you need to get educated or else, in all honesty, you are finished

1 Like

Re: Oil Slump: FG May Borrow From World Bank, Others by Larrydee(m): 2:44am On Jan 03, 2015
collinsVP:


You are my person. I was scrolling down to remind them of the missing $20bllion when I saw your post. That money when found shall be more than enough to finance revenue short fall.

Like Fashola said... Burj Khalifa in Dubai cost $1.5 billion to build. Nigeria has lost $20 billion...

That money will definitely be enough to cushion the effect of revenue shortfall.

1 Like

Re: Oil Slump: FG May Borrow From World Bank, Others by 13july: 3:52am On Jan 03, 2015
yemionline:
We have so many other mineral and natural resources to tap into. why we choose to depend solely on crude oil still remains a mystery to me.
becos pole are afraid to go to the north to mine minerals cos of fear of boko
Re: Oil Slump: FG May Borrow From World Bank, Others by WinkWrld: 5:31am On Jan 03, 2015
Every time I take a deep look, I notice that okonji iweala is making grave errors. Either intentional or mistakenly.

It is obvious that there is so much flaws in her works and no one can say anything.

A woman may put this nation in trouble if not attended to.

A simple question will be!

If Nigeria like she said, does not generate it's most revenue from oil production, why now so much shortfall due to oil price drop inturn making Nigeria go borrowing.

Does she fully understand the impact of borrowing especially to a country with challenging problems?

Honestly, I see her opinions as a time bomb.

We all should know that when the chips are down, she will be over the sea
Re: Oil Slump: FG May Borrow From World Bank, Others by Yusphull(m): 6:37am On Jan 03, 2015
mako007:
If the country is broke, let the country play pool abi sports betting.

Choi grin grin

You are so on point... grin grin
Re: Oil Slump: FG May Borrow From World Bank, Others by mako007(m): 7:24am On Jan 03, 2015
Yusphull:


Choi grin grin

You are so on point... grin grin
year, so many ways of making kudi
Re: Oil Slump: FG May Borrow From World Bank, Others by Kessyy2k4(m): 7:52am On Jan 03, 2015
14:


Biggest economy in Africa with only $23 Billion budget for 160m population
South Africa with a budget of $120 Billion for 55m population, 6 times that of Nigeria. Do your maths. Your economy is fake my man. Its a paper economy.
u are korrect man! our Economy is a SCAM. its for political gains


BTW, u must be a non-nigeria, right?
Re: Oil Slump: FG May Borrow From World Bank, Others by clemhova: 5:31pm On Jan 03, 2015
Sibabasibaba1:


---

Why do you guys still peddle this lie that Nigeria had no debt during Buhari's regime? @ datolee had in a previous thread given a lie to this claim. Please check the thread ' the many lies of Buhari's supporters'. When Buhari illegally sacked Shagari, our foreign debt was $15 billion but by the time Buhari was sacked by his co-evil men, our total debt was $19 billion. This means that Buhari, in just 20 months plunged us into $4 billion debt.

A little research on Nigerian debts since 1980 will make you more knowledgeable.


Thks for your post but pls provide link to source of yur assertion. See link to mine http:///1xqjb7S

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