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Nairaland Forum / Nairaland / General / Politics / Senate Approves Buhari’s $5.5 Billion Foreign Loan Request (9188 Views)
Lawan: We Passed Buhari’s $5.5 Billion Loan Request To Save 20 Million Jobs / Senate Approves Buhari’s Request To Raise Fresh N850bn Loan / Nigeria’s New $6.9 Billion Foreign Loan Application – A Case Of Necessary Evil? (2) (3) (4)
Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by nwakibie3(m): 12:14pm On Nov 14, 2017 |
The Senate on Tuesday approved a $5.5 billion external loan request by President Muhammadu Buhari. The president had in a letter on October 10 requested the Senate to approve $3 billion external loan and $2.5 billion Eurobond or Diaspora bond in the international market. Mr. Buhari explained that the bonds would be channelled towards funding the 2017 budget while the loan would be used in refinancing maturing domestic debts. Based on the Senate’s resolution, the Committee on Local and Foreign Debts on October 19 invited the Minister of Transportation, Rotimi Amaechi, and some other members of the executive to explain the benefits of the loan. Presenting report of the committee, Shehu Sani, Kaduna-APC, said the projects listed for the loan would stimulate economic development and create direct and indirect jobs for Nigerians. He added that the $2.5 billion will create more borrowing space for the private sector. https://www.premiumtimesng.com/news/top-news/249328-breaking-senate-approves-buharis-5-5-billion-foreign-loan-request.html 2 Likes 1 Share
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Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Nobody: 12:16pm On Nov 14, 2017 |
FTC |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Spylord48: 12:25pm On Nov 14, 2017 |
Is one thing to borrow and is another thing to utilized the borrowed money. I hope it won't end up in the pockets of few individuals as usual.USA is among the world indebted states yet the citizens arent complaining much because they are seeing the money been put into use.But in a state somewhere in the western part of Africa,billions have been borrowed yet there is nothing to show for it. 25 Likes 3 Shares
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Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Bonapart(m): 12:29pm On Nov 14, 2017 |
This country sha 3 Likes |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Factfinder1(m): 12:29pm On Nov 14, 2017 |
And the looting continues...3years no physical development naira has been hanging on 360 no food no light no water no road no hospitals no jobs....what a change 29 Likes |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Badonasty(m): 12:30pm On Nov 14, 2017 |
nwakibie3: obj wiped our debts....pmb wan kill us with debt 17 Likes 1 Share |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by NwaAmaikpe: 12:30pm On Nov 14, 2017 |
The future of this country has been irredeemably mortgaged. Who will pay back these loans? Where will these loans be paid back from? 18 Likes 2 Shares |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by benedictnsi(m): 12:30pm On Nov 14, 2017 |
Kleptocratic government...... Thieves.... 8 Likes |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by NgeneUkwenu(f): 12:31pm On Nov 14, 2017 |
The Senate Has disappointed us, the ipob yoots! we must recall them. 1 Like 3 Shares |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by GavelSlam: 12:31pm On Nov 14, 2017 |
Good. Greater things ahead for Nigeria. 4 Likes 1 Share |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by three: 12:31pm On Nov 14, 2017 |
That's all folks! Buhari is too old to experience the pains of paying back this loan. Most of those who voted him are/were too young to realise that all the fake promises made will have a cost. Today's youth will be in their twilight years explaining to their children and grand children how they voted for Buhari because they were so emotionally saddled with kicking a corrupt goverment out that they couldn't find a COMPETENT alternative and thus why they (children and grand children) have to pay back loans. PS if you really think moneys from foreign loans will be used to create authentic jobs and build infrastructure in the penultimate year to an election good luck. 13 Likes |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by IgboticGirl(f): 12:32pm On Nov 14, 2017 |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by victop11(m): 12:32pm On Nov 14, 2017 |
I hope Nigeria won't be bought o... God bless Nigeria 1 Like |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Kondomatic(m): 12:32pm On Nov 14, 2017 |
Mr. Buhari explained that the bonds would be channelled towards funding the 2017 3 Likes
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Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Nobody: 12:32pm On Nov 14, 2017 |
Election money don complete 3 Likes |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by opera1(m): 12:32pm On Nov 14, 2017 |
I hope we All feel d impact positively. 1 Like 1 Share |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by aolawale025: 12:32pm On Nov 14, 2017 |
The real challenge is to find the lender and meet its conditions. That's where it's not possible to scale thru via politics but economic polices |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Dizu(m): 12:33pm On Nov 14, 2017 |
Operation share the money 3 Likes |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by GavelSlam: 12:33pm On Nov 14, 2017 |
NwaAmaikpe: The USA, UK, France owes in the trillions please tell us who would repay those debts. |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by SOFTENGR: 12:33pm On Nov 14, 2017 |
Who said PMB has not achieved? This is definitely one of his achievements...wating for Garba Shehu n Adeshina to speak 1 Like |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Oxster(m): 12:34pm On Nov 14, 2017 |
Just negodu
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Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Cajal(m): 12:35pm On Nov 14, 2017 |
Looting begins..... 1 Like |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by bishopkay: 12:36pm On Nov 14, 2017 |
Another money that would be looted, stacked in apartment houses, used to cut grass and shared by the nnpc board and presidential cabinet.. . Kwantinu. For the idiots applauding this move, kindly note it took over 15 years to get out of the debts IBB put Nigeria into. Means your children and probably children's children would pay these loans been borrowed indiscriminately 3 Likes |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by AkupeMBANO(f): 12:36pm On Nov 14, 2017 |
Lmao looting continues 1 Like |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by AFONJAPIG(m): 12:36pm On Nov 14, 2017 |
borrow borrow Government, the kind dept this duara dullard will plunge us only time will tell ..... 3 Likes |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by princetom1(m): 12:39pm On Nov 14, 2017 |
GavelSlam: So it's a good thing to owe? In reality, this is very different to compare, over there, they do it with clear vision and plan and the impact is seen and felt bt over here... We knows how it all end... 4 Likes |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by bishopkay: 12:41pm On Nov 14, 2017 |
GavelSlam: Would you compare Nigeria to the countries you mentioned in terms of accountability, development and governance? Why sane minds would always complain about such loans is because we know the country and it's disjointed and thieving cabal all united under the looting umbrella! This government has collected other loans and governments before it; where's the results of those loans on Ground or how has it affected the life of the average Nigerian? 6 Likes 1 Share |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Qyubee(m): 12:42pm On Nov 14, 2017 |
Good one from the senate! looking forward to the opportunities that this brings. |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by Nobody: 12:43pm On Nov 14, 2017 |
three: So what is the alternative then? Oil, our major earner is at $60 per barrel. We need it to be at $120 per barrel to meet daily obligations without borrowing. And even at high oil prices, GEJ borrowed. The alternative is that we raise taxes to as high as 50% of your earned income, remove subsidies, restrict spending to power, technical education and transport, increase school fees , power bills, deregulate the oil downstream sector to as much as selling fuel for n200 PER LITER, and so on. And even then , we still have to take loans. I agree that this govt is lacking ideas....coherent ideas....but just don't critique for the fun of it. |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by condralbedez: 12:43pm On Nov 14, 2017 |
hmmm |
Re: Senate Approves Buhari’s $5.5 Billion Foreign Loan Request by three: 12:46pm On Nov 14, 2017 |
9jakohai: Sadly, no real alternative on this specific issue. The Nigerian "establishment" has been manipulating the masses from day one. We need to at the very least break that cycle of manipulation TODAY in anticipation of stellar leadership in 2019. |
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