₦airaland Forum

989900D:
Borrowing should be restricted strictly to income generating projects/infrastructure!

All other social, and whatever adjuncts should be removed (way to siphon money)!

At emboldened, how is that part of conventional borrowing, and at the 'at cheapest rates', how is 15% and above 'cheapest rates'? That should be some typo I guess. Any borrowing above 1-2% interest rate -- I strongly DO NOT approve.

SillyMods:
May posterity be kind to us.

Read before commenting.

GEJ borrowed more than enough even when there was no need to. The IB borrowed when oil was above $100 per barrel when we should have had budget surplus.

Consolidated public debt stock in the Central Bank of Nigeria (CBN) annual report 2014 showed that between 2010 and 2014 the highest external loan by government was N1.65 trillion in 2014.

External debt for preceding years were N689.8 billion in 2010; N896.8 billion in 2011; N1.03 trillion in 2012 and N1.39 trillion in 2013.

PapaBrowne:
It is finished!!
The country is officially killed. Buhari has done it.

9.6 trillion Naira loan.

[size=13pt]
Before we even start discussing, I have just 7 questions.[/size]

1)Where is all the Subsidy savings?? Jonathan was said to have been paying hundreds of billions on subsidy.In 2013. There is supposed to be no more subsidy since the new price of N145. So where are all the subsidy savings?

2) Where is all the corruption savings? Since the previous government is accused of being terribly corrupt, and it is said that this government is corruption free, where are all the savings that should accrue from the new corruption free system?

3) Where is all the recovered loot? Why are we borrowing $10billion for reccurents when the government has boasted of recovered funds of $9 billion?

4) Where is all that 3 Trillion said to be locked up in the TSA account. Abi is the account under lock and key?

5) This government has borrowed N2.2 Trillion in the last one year. Where is that money, what was it used for and who was it given to.

6) The N9.6 Trillion in question, who are you borrowing it from. What are you using as surety. You aren't even certain anybody will give that money so why are you making plans deceiving yourself about it?

7) Finally, what the heck is your payment plan. Already we are paying almost 1 trillion for debt servicing on the meagre debt we have. If you add a gargantuan 9.6 Trillion, who is going today for that?

Buhari doesn't care because when the country crumbles he'll be too old or gone to face the consequences.

My gut feeling tells me the greatest heist in the history of Nigeria is currently going on right now under our very nostrils and except we start asking the right questions, we would not have a country to call ours in a few years from now.

cococandy:
You're still comparing this devious government to gej abi? Evil.

SillyMods:
Any decently educated fellow will understand that if there was any govt that didn't have to borrow, it was the Ineffectual Buffoon's.

So, if the IB who didn't have to borrow, not only borrowed but borrowed to finance looting, will it not be hypocritical to criticize a govt which inherited a screwed up economy, an economy in recession, for wanting to borrow to finance capital development? Wicked and selfish!

mykl01:
Chaiii!
Who do you this thing?

Sibrah:
ask the guy who ruled when oil was $120pb

PapaBrowne:
It is finished!!
The country is officially killed. Buhari has done it.

9.6 trillion Naira loan.

[size=13pt]
Before we even start discussing, I have just 7 questions.[/size]

1)Where is all the Subsidy savings?? Jonathan was said to have been paying hundreds of billions on subsidy.In 2013. There is supposed to be no more subsidy since the new price of N145. So where are all the subsidy savings?

2) Where is all the corruption savings? Since the previous government is accused of being terribly corrupt, and it is said that this government is corruption free, where are all the savings that should accrue from the new corruption free system?

3) Where is all the recovered loot? Why are we borrowing $10billion for reccurents when the government has boasted of recovered funds of $9 billion?

4) Where is all that 3 Trillion said to be locked up in the TSA account. Abi is the account under lock and key?

5) This government has borrowed N2.2 Trillion in the last one year. Where is that money, what was it used for and who was it given to.

6) The N9.6 Trillion in question, who are you borrowing it from. What are you using as surety. You aren't even certain anybody will give that money so why are you making plans deceiving yourself about it?

7) Finally, what the heck is your payment plan. Already we are paying almost 1 trillion for debt servicing on the meagre debt we have. If you add a gargantuan 9.6 Trillion, who is going today for that?

Buhari doesn't care because when the country crumbles he'll be too old or gone to face the consequences.

My gut feeling tells me the greatest heist in the history of Nigeria is currently going on right now under our very nostrils and except we start asking the right questions, we would not have a country to call ours in a few years from now.

FLYFIRE:
Zombies like this have SOLD their souls...and it WILL NOT be well with them. Let all well to do Nigerians STOP giving whatsoever help rendered to any known person that voted these IDIOT.S into power so that they will suffer & have their brains reset before 2019.

LordAdam:
Income generating projects/infrastructure are another way to siphon money. Who would give out the contract, who would carry out the contract, who would supervise?

Before you invest so much in infrastructure, you first ensure there is accountability.

The cankerworms are still in government and even the government is headed by a man who can't see beyond his nose.

That is why we have nothing to show for the N11.3T already released. It is exactly why we will have nothing to show after borrowing the N9T.

I only sound an alarm when shi* is about to hit the fan.

I did it before the election. When Buhari started his selective anti-corruption campaign. When he delayed ministers for 6 months. And during the budget fiasco.

It is happening again. We would regret giving this man the opportunity to borrow this much.

-Lord

PapaBrowne:
It is finished!!
The country is officially killed. Buhari has done it.

9.6 trillion Naira loan.

[size=13pt]
Before we even start discussing, I have just 7 questions.[/size]

1)Where is all the Subsidy savings?? Jonathan was said to have been paying hundreds of billions on subsidy.In 2013. There is supposed to be no more subsidy since the new price of N145. So where are all the subsidy savings?

2) Where is all the corruption savings? Since the previous government is accused of being terribly corrupt, and it is said that this government is corruption free, where are all the savings that should accrue from the new corruption free system?

3) Where is all the recovered loot? Why are we borrowing $10billion for reccurents when the government has boasted of recovered funds of $9 billion?

4) Where is all that 3 Trillion said to be locked up in the TSA account. Abi is the account under lock and key?

5) This government has borrowed N2.2 Trillion in the last one year. Where is that money, what was it used for and who was it given to.

6) The N9.6 Trillion in question, who are you borrowing it from. What are you using as surety. You aren't even certain anybody will give that money so why are you making plans deceiving yourself about it?

7) Finally, what the heck is your payment plan. Already we are paying almost 1 trillion for debt servicing on the meagre debt we have. If you add a gargantuan 9.6 Trillion, who is going today for that?

Buhari doesn't care because when the country crumbles he'll be too old or gone to face the consequences.

My gut feeling tells me the greatest heist in the history of Nigeria is currently going on right now under our very nostrils and except we start asking the right questions, we would not have a country to call ours in a few years from now.

drss2:
osumbade claim GEJ left $63 billion debt for buari (affiliation of states n federal debt of d past 50 years), yet they ar planning to borrow half of nigeria's 50 years debts in one years. d dullard keeps breaking economic records back to back.

SillyMods:
Any decently educated fellow will understand that if there was any govt that didn't have to borrow, it was the Ineffectual Buffoon's.

So, if the IB who didn't have to borrow, not only borrowed but borrowed to finance looting, will it not be hypocritical to criticize a govt which inherited a screwed up economy, an economy in recession, for wanting to borrow to finance capital development? Wicked and selfish!

cococandy:
Pathetic.

He could literally physically kill you and you'd still be defending him with your dying breathe.

Zombieism

LordAdam:
[s]Income generating projects/infrastructure are another way to siphon money. Who would give out the contract, who would carry out the contract, who would supervise?

Before you invest so much in infrastructure, you first ensure there is accountability.

The cankerworms are still in government and even the government is headed by a man who can't see beyond his nose.

That is why we have nothing to show for the N11.3T already released. It is exactly why we will have nothing to show after borrowing the N9T.

I only sound an alarm when shi* is about to hit the fan.

I did it before the election. When Buhari started his selective anti-corruption campaign. When he delayed ministers for 6 months. And during the budget fiasco.

It is happening again. We would regret giving this man the opportunity to borrow this much.
[/s]
-Lord

PapaBrowne:
It is finished!!
The country is officially killed. Buhari has done it.

9.6 trillion Naira loan.

[size=13pt]
Before we even start discussing, I have just 7 questions.[/size]

1)Where is all the Subsidy savings?? Jonathan was said to have been paying hundreds of billions on subsidy.In 2013. There is supposed to be no more subsidy since the new price of N145. So where are all the subsidy savings?

2) Where is all the corruption savings? Since the previous government is accused of being terribly corrupt, and it is said that this government is corruption free, where are all the savings that should accrue from the new corruption free system?

3) Where is all the recovered loot? Why are we borrowing $10billion for reccurents when the government has boasted of recovered funds of $9 billion?

4) Where is all that 3 Trillion said to be locked up in the TSA account. Abi is the account under lock and key?

5) This government has borrowed N2.2 Trillion in the last one year. Where is that money, what was it used for and who was it given to.

6) The N9.6 Trillion in question, who are you borrowing it from. What are you using as surety. You aren't even certain anybody will give that money so why are you making plans deceiving yourself about it?

7) Finally, what the heck is your payment plan. Already we are paying almost 1 trillion for debt servicing on the meagre debt we have. If you add a gargantuan 9.6 Trillion, who is going today for that?

Buhari doesn't care because when the country crumbles he'll be too old or gone to face the consequences.

My gut feeling tells me the greatest heist in the history of Nigeria is currently going on right now under our very nostrils and except we start asking the right questions, we would not have a country to call ours in a few years from now.

drss2:
osumbade claim GEJ left $63 billion debt for buari (accumilation of states n federal debt of d past 50 years), yet they ar planning to borrow half of nigeria's 50 years debts in one years. d dullard keeps breaking economic records back to back.

PapaBrowne:
It is finished!!
The country is officially killed. Buhari has done it.

9.6 trillion Naira loan.

[size=13pt]
Before we even start discussing, I have just 7 questions.[/size]

1)Where is all the Subsidy savings?? Jonathan was said to have been paying hundreds of billions on subsidy.In 2013(N900 bILLION +). There is supposed to be no more subsidy since the new price of N145. So where are all the subsidy savings?

2) Where is all the corruption savings? Since the previous government is accused of being terribly corrupt, and it is said that this government is corruption free, where are all the savings that should accrue from the new corruption free system?

3) Where is all the recovered loot? Why are we borrowing $10billion for reccurents when the government has boasted of recovered funds of $9 billion?

4) Where is all that 3 Trillion said to be locked up in the TSA account. Abi is the account under lock and key?

5) This government has borrowed N2.2 Trillion in the last one year. Where is that money, what was it used for and who was it given to.

6) The N9.6 Trillion in question, who are you borrowing it from. What are you using as surety. You aren't even certain anybody will give that money so why are you making plans deceiving yourself about it?

7) Finally, what the heck is your payment plan. Already we are paying almost 1 trillion for debt servicing on the meagre debt we have. If you add a gargantuan 9.6 Trillion, who is going today for that?

Buhari doesn't care because when the country crumbles he'll be too old or gone to face the consequences.

My gut feeling tells me the greatest heist in the history of Nigeria is currently going on right now under our very nostrils and except we start asking the right questions, we would not have a country to call ours in a few years from now.