₦airaland Forum

Doctus:
I ask u
is jamb supposed to be a money making venture?

sarrki:
Am not oweing a dime

God knows

damiloladuke:
For the N3 trillion Nigeria has received from China in the last four years, every Nigerian owes China N15,000 in debt. That’s just N3,000 short of minimum wage, Daily Trust reports.

The debt comes from two huge tranches of aid from China: $3.1 billion in 2014 and $6 billion for infrastructure in the last three years, according to political analyst Theophilus Abbah.

Simple mathematics. Divide the combined total, just over N3 trillion, by the 198 million population Nigeria always talks about: that’s a nice N15,000 in debt to China for every Nigerian.

And that doesn’t even include the loan agreement signed this week in Beijing where China pledged $60 billion in credit facilities, a quarter of it interest free.

Analysts say getting governments indebted to China is the republic’s way of outsmarting the US and the UK in Africa trade

“They are active in Liberia, Ghana, Angola,” minister of state for petroleum, Ibe Kachikwu, told Bloomberg.

“They are throwing money where their mouth is and in very many respect is one area where they have beaten both the US, European and British in things like this.

“Africa requires a lot of development funds; China is able to provide it. Not just provide in terms of money but provide with adequate technology.”

The implication is Africa may be unable to resist Chinese trade and international politics.

Recently, at the World Health Assembly, the US proposed watering down recommendations against breastmilk substitutes and threatened all countries who opposed its stand with sanctions.

Only Russia stood up to the US and saved the recommendation.

A United States lawmaker, Rep Chris Smith, chairman of the Foreign Affairs Subcommittee on Africa, said in a recent opinion article that China also uses foreign aid as a “bargaining chip” in corrupt African countries with plenty of natural resources for them to exploit.

“AidData, a research laboratory at the College of William and Mary, argued in written testimony submitted to my committee that China effectively buys the votes of African governments at the United Nations; they concluded that if African countries voted with China at the UN an extra 10 per cent of the time, they would receive an 86 per cent bump in assistance,” the lawmaker said.

Nigeria has accepted the Chinese Yuan as a reserve currency, which will begin to compete with the US dollar.

The US lawmaker lamented that the Chinese in-road into Africa could be dangerous.

“All of these trends—rising levels of debt, shoddy infrastructure projects, and investment that permits human rights abusers to consolidate their influence and power—point to serious risks for the future of the African continent.”

https://lailasnews.com/every-nigerian-owes-china-n15000-political-analysts/

Felixv:
Nigeria's foreign reserves stand at about $46bn ..up from what mr jonathan left it at about $29bn --in spite of low oil prices we have managed to continuously increase our foreign reserve

now how much do we owe china --less than $9bn.

there is no other country willing to help nigeria build her infrastructure except china ,and they are also providing the money for that. the IMF along with the opposition politicians are just playing politics.

during the pdp years , Nigeria was selling oil at over 100 dollars a barrel yet there is absolutely nothing to show for it..even the foreign reserves were depleted.

this administration is very prudent at managing the nations resources that even JAMB is returning money to the nations coffers.

EvilMetahuman:
Another ipob political analyst

eodavids:
Wait Sarrki, don't rush. You are most indebted because you are a staunch supporter of pmb policies, even when not fair.

Hey op, are children also part of this indebtedness
Because you said all the "198" millio

damiloladuke:
For the N3 trillion Nigeria has received from China in the last four years, every Nigerian owes China N15,000 in debt. That’s just N3,000 short of minimum wage, Daily Trust reports.

The debt comes from two huge tranches of aid from China: $3.1 billion in 2014 and $6 billion for infrastructure in the last three years, according to political analyst Theophilus Abbah.

Simple mathematics. Divide the combined total, just over N3 trillion, by the 198 million population Nigeria always talks about: that’s a nice N15,000 in debt to China for every Nigerian.

And that doesn’t even include the loan agreement signed this week in Beijing where China pledged $60 billion in credit facilities, a quarter of it interest free.

Analysts say getting governments indebted to China is the republic’s way of outsmarting the US and the UK in Africa trade

“They are active in Liberia, Ghana, Angola,” minister of state for petroleum, Ibe Kachikwu, told Bloomberg.

“They are throwing money where their mouth is and in very many respect is one area where they have beaten both the US, European and British in things like this.

“Africa requires a lot of development funds; China is able to provide it. Not just provide in terms of money but provide with adequate technology.”

The implication is Africa may be unable to resist Chinese trade and international politics.

Recently, at the World Health Assembly, the US proposed watering down recommendations against breastmilk substitutes and threatened all countries who opposed its stand with sanctions.

Only Russia stood up to the US and saved the recommendation.

A United States lawmaker, Rep Chris Smith, chairman of the Foreign Affairs Subcommittee on Africa, said in a recent opinion article that China also uses foreign aid as a “bargaining chip” in corrupt African countries with plenty of natural resources for them to exploit.

“AidData, a research laboratory at the College of William and Mary, argued in written testimony submitted to my committee that China effectively buys the votes of African governments at the United Nations; they concluded that if African countries voted with China at the UN an extra 10 per cent of the time, they would receive an 86 per cent bump in assistance,” the lawmaker said.

Nigeria has accepted the Chinese Yuan as a reserve currency, which will begin to compete with the US dollar.

The US lawmaker lamented that the Chinese in-road into Africa could be dangerous.

“All of these trends—rising levels of debt, shoddy infrastructure projects, and investment that permits human rights abusers to consolidate their influence and power—point to serious risks for the future of the African continent.”

https://lailasnews.com/every-nigerian-owes-china-n15000-political-analysts/

Hizzy:
Waiting Buhari don achieve since he come office what did he use the money for
and u are talking like say he use the money to.upgrade NEPA

frowland:
Okon, Per capita to GDP is a measure of the total output of a country that takes the gross domestic product (GDP) and divides it by the number of people in that country. The per capita GDP is especially useful when comparing one country to another, because it shows the relative performance of the countries.
So go back to school you m0ron.
I normally take older members here to be reasonable and mature but I see your stuupidity and arrogance is way out the top.

What do you even mean why I mentioned GEJ? So I should delete the past 60 years and assume Nigeria started from 2015? Wise man my foot.

I initially stated US owes about 30Trillion just for comment sake...even 9ja I mentioned is not owing 10billion.
I simply ruffled the amount but you took it upon yourself to make corrections which is fine, but making wrong accusations as if ALL the debt is from Buhari is wrong and a fallacy. You and your wise kids should remain in those racist enclave.
We all know how 90% of blacks live there. Most are criminals and squatters.
I did my masters both in Germany and the UK, I have a better idea. You fo0l no one m0r0n.

Ugosample:
you are still talking rubbish

It's either you talk about Per Capita Income, or You talk of Gross Domestic Product

Talking about "Per Capita to GDP" does nor make sense.

And you are still basking in ignorance and arguing

Per Capita Income of Nigeria is low, but not abysmally low, it can qualify as a middle income country

Americans own on the other hand is on the high side

sheguy:
If citizen of Nigeria where serious, this news alone is enough for them to come out and protest against this government and send Buhari and Osinbajo parking.

SouthernEmpres:
lies all this lies you are spreading e no good ohh. we dont owe a dime to China and person that believes this is just as small minded as the person that posted it

frowland:
I thought you said there is nothing like Per Capita to GDP? Retracting now eh?
If I am comparing countries the best yardstick is per capita to GDP... full stop. go back to school okon.

lakesider:
How much does every US citizen owe China...?

Ugosample:
there is NO such rvubg as Per Capita to GDP

It's Per Capita Income

Or Gross Domestic Product
or in some cases you see it as GDP per capita.

I am NOT retracting anything


I regret even having a conversation with you, because its clear you are a recalcitrant empty head.
The suffering in that $hithole is really getting to you


Go your way abeg

children of these days

frowland:
Oga you are a real m0r0n. You are nothing and a total excuse for a failure.
All this gibberish you are typing doesn't save you from your total blunder you tool.
I don't blame you, I should be the one who would have ignored you because arguing with a f00l on something so glaring does not worth it.
I belive you will twist it again right? Look for another lame excuse. Nonsense.

It's Per Capita Income - This is Total National Income divide by the countries population (National Income is totally different from National Gross Domestic Product).

Or Gross Domestic Product - GDP (Gross Domestic Product) is the value of all goods and services that are produced within a country domestically, regardless of whether it is produced by a resident or a foreign resident. So it does not include the income earned from abroad.
When you include incomes from abroad, like investments and cash inflows then its no longer GDP.

or in some cases you see it as GDP per capita - This is same as Per capita GDP as it is a measure of the total output of a country that takes the gross domestic product (GDP) and divides it by the number of people in that country. The per capita GDP is especially useful when comparing one country to another, because it shows the relative performance of the countries.

You really need to go back to school if you don't know that per capita on its own is not calculated with GDP. Infact, you can remain where ever useless place you are. I don't need to sit here and boast and brag where I have been, what I do, or who am better than because people who know their self worth don't make such noise and besides who says there is nobody better than me here? So why boast? I don't need such nonsense.