slivertongue:
God save naija from blind leaders&followers.where is abah from? is sanusi position on chinese loans 4railway also tribal

between Imf And China Loan, Which Will You Prefer?

chronique:


So a loan with a 12 years maturity that cumulatively adds up to 43.2% is better than that of a 38 years maturity window and cumulatively adds up to 47.5%? Some of you have no business being in business or discussing anything finance.

That line of argument in Somoye's Twitter post was the giveaway that he is an ignoramus.

Sharpshooota:


Shut Up there...
Buhari is a dunce
He shared money... Only to go begging for loans in China

Who does that except a dullard

Am an advocate of Buhari administration but to be sincere I personally kicked against sharing Abacha's loot!

papalsbuIl:
even abokii that cannot read is applauding the twitter bastard

Don’t be a coward, go and call him a bastard on twitter. He is a bastard to you simply because he intellectually engaged your almighty Oby and made her looked ordinary.
I don’t know what is is wrong with some of you Ibos! You tribalized even the mode mundane things

FreddyKruger:
Zombies be hyperventilating? cursing and screaming all over the thread when 9 outta 10 they have no simple clue as to what Oby or Olakunle were even arguing about.

Do the daft IPIGs & the dumb PDP sycophants understand what they're talking about?

mycar:
The guy is wrong. When you are repaying a loan, the interest you pay is that of the balance and not that of the original principal.
The guy is into elementary mathematics.
Anyways, i've got a better thing to do with my time. I don't support collecting of loans, like oby said, we need to copy what China did to transform their economy.
Anything contrary shall be ignored too.

Hell NOO! You are wrong instead.

4Play:


That line of argument in Somoye's Twitter post was the giveaway that he is an ignoramus.

I swear. Such people would ruin your business at the speed of lightning if you hire them.

blackpanda:
Don't blame ezekwesili. She is Igbo after all. She can't help her self from stupid ignorant comments

Clearly, you are related to Stephen Hawking

Sirjamo:
I know that Dr Oby knew that Chinese loans are far better than that of the IMF and World Bank, she was just looking for a way to discredit the Buhari government. Typical Igbo

When you try to educate a fool and he remains adamant, silence becomes an option. You can't compare someone who trained in a community university with someone whose research work has been certified OK by world academics. Your tribe makes noise too much over little things but Igbos calmly use brain, and that's why you envy them. Anyone who hangs on social media to keep replying tantrums, obviously does not have a job. If that person has a job, it's not a well-paying job. Dr. Oby Ezekwesili has got something more important that a social media monitor.

SIRTee15:

I phone is not made in China, rather it's assemble in china....
The brain work behind the concept n design is in silicon valley.....
Chinese economy is based on mass production n cheap labour.....
That's why everybody love to manufacture in china because it's cheap ...
Let's wait for the days of automation n 3-D printing, let's see if China will be able to sustain it's economic growth despite the above....
Destroying/distorting market price of products by selling way below production cost to undercut your competitors is negative economy....
Look at what they did with steel n solar panel....
This is the main reason most African countries can't even embark on any manufacturing capacity...

You have deep knowledge on issues concerning cutting-edge technology

stankezzy:
You can't compare chinese loans to western loan , Chinese loan is a welly packaged poison, forget about interest and enforcement , think about when u default or unable to pay , the west do nothing, they even have what they call debt relief or debt forgiveness which nigeria have benefited in during obasanjos time but chinese if u are unable to pay they take over your country, no mercy, go and ask Argentina, Philippines, costarica , Zimbabwe just to mention few , do u know that change of government in Zimbabwe was ordered by the Chinese , please don't drink a beautifully packaged poison, everything in this country must not be politics even when one is right

wow Nice one n a round of applause

your stupidity knows no bound....thought you were hving sense before ni

meccuno:
so because a person wrote series of numbers means he schooled her?

Tell them

The cognitive dissonance is hilarious. Witness Buhari supporters arguing in effect that the Buhari government - particularly the responsible ministers in Fashola and Amaechi - don't possess the competence and integrity to be entrusted with loans hence the Chinese model of lending (where no money is actually given to the borrower) is optimal. On the other hand, you have GEJ supporters who praised this type of borrowing from China during the GEJ era claiming that such borrowing is a mark of ineptitude.

My view is that Nigeria's debt sustainability profile is precarious and does not support taking up such loans. This is pertinent given the absence of structural reforms that will keep the economy growing now and in the future. Our saving grace is the mini revival in oil prices we have had in the last year or two which has given us a bit more fiscal wriggle room. Another drop in oil prices, and we will be tipped into a more severe crisis than what we recently experienced.

All Loans, whether Chines, Western or Indian are wrong and enslaving!!! What have we used them (borrowed billions and trillions) to achieve since the borrowing started? Rather, we are wasting destinies of unborn generations by wasteful borrowing that doesnt translate to the life transforming projects they are meant for. Keep selling this con3 and dumb youths keep supporting outrageous borrowing which is selling their resources and lands to foreign buyers who will one day take over Africa when these loans keep accumulating to a point of no return.

Sharpshooota:


Shut Up there...
Buhari is a dunce
He shared money... Only to go begging for loans in China

Who does that except a dullard

When we call the PDP sycophants & IPIGs extremely daft, e go be like say person no sabi wetin him dey talk! These guys are just too arrogantly ignorant!

Do you know the conditions behind the repatriation of the Abacha loot you're talking about?

The Igbophobes above saw something that made their mouth salivate and quickly started venting their ignorant, shallow mentality. Please, don't let hate chew up the remaining brain cell that has not turned to pap already.

Otherwise follow your chinko leader to China.

taguafuo:
Olakunle does not know how interest rates are calculated and therefore cannot be taken seriously

I just dey look

I pity this country really

When the rope is tight on your neck, don't expect the Chinese ti forgive you o

Chinese are not westerners

But what is my business; let them kerp borrowing

OyinO:
All Loans, whether Chines, Western or Indian are wrong and enslaving!!! What have we used them (borrowed billions and trillions) to achieve since the borrowing started? Rather, we are wasting destinies of unborn generations by wasteful borrowing that doesnt translate to the life transforming projects they are meant for. Keep selling this con3 and dumb youths keep supporting outrageous borrowing which is selling their resources and lands to foreign buyers who will one day take over Africa when these loans keep accumulating to a point of no return.

no mind them

mycar:
The guy is wrong. When you are repaying a loan, the interest you pay is that of the balance and not that of the original principal.
The guy is into elementary mathematics.
Anyways, i've got a better thing to do with my time. I don't support collecting of loans, like oby said, we need to copy what China did to transform their economy.
Anything contrary shall be ignored too.

Don't mind them the Somoye guy just spewed a load of meaningless jargon to shut Ezekwesili up fast, I guess she didn't have time for him. The idiot guy wanted to shine on twitter, kept on confusing tenor with spread

jomoh:


No one is a fool here and they recognize the fact that one has to be weary of the Chinese loan but here are the real point the guy made to counter your Aunty you’re so much willing to lick her behind.

1. The only pitfall with Chinese loans is when you’re unable to pay back they takeover the project as their own(has happened in some other African countries) however, the infrastructure has been put in place and they won’t remove it.

2. The West don’t care if you use the loan for the purpose it is meant for. They don’t care if the money is embezzled or not. That is why they keep giving loans to corrupt regime of GEJ because they more you embezzle the more you’re unable to pay and the more enslaved you become.

3. The Chinese don’t deal with thieves, they put their money where their mouth is and make sure the loans are used for the purpose they’re meant for.

4. This is the most dangerous part of the western loan. The Chinese don’t require the government to retrench its civil Servants when they default or are unable to pay up. The West on the other hand as part of its loan conditions will require the government to retrench Ita civil servants.

The bottom line is that, everyone recognize that China is not Santa Claus but their intention is far more genuine and open than the west’s. Even the west recognize this and they fear China taking over but with lesser or no intention to enslave that is why they’ve being in a panick mode since the China-Africa summit.

They know their milking cows are about to be set free. If not when was the last time a British PM or a German chancellor or French President visited Africa let alone in the same year.

Unfortunately for them and fortunately for Africa, their leader(the US) is under the leadership of a mad man.

Good morning Sir, you are the smartest Nigerian I've met on this forum.
Most people on this forum don't even know that the West is the POWER behind the heavy stealing going in Nigeria.
The money they borrow us, is it not the same money stolen from Nigeria?, to rub it in, they will also attach inhuman conditionalities, all kinds of austerity measures like SAP and so on.
People don't KNOW that the West will prefer a financially reckless government in any third world country, to a prudent and highly focused one.
They will not help Nigeria and if we are not careful, they will sabotage our efforts at getting help elsewhere.
These are the people that Nigerians praise to high heavens, due to high moral, intellectual and spiritual bankruptcy.

obailala:
Why exactly should a person take a loan with the intention of not being able to payback?.... Why should a country take a loan with a preset mindset focused on debt relief in future?...Nothing ever goes for nothing! Not even the western loans are free; dont be swayed by the so called debt relief. Those western loans are still recouped through the backdoor indirectly through free access to resources and through kleptomaniac African leaders who still roundtrip the funds back.

Going by the experiences of African countries in the last decades with western loans, I think these Chinese loans are better as long as African leaders sit up, remain focused and learn to payback. If not for anything else, the Chinese arent giving physical cash to leaders, we can all see the physical infrastructure being financed by the loans.

Forget it, African political leaders lack fiscal discipline n are financially reckless.....
Those loans will never be paid back.....
Check the budgetary implementation of most African countries n u will realise majority depends on western freebies called aids to balance the book....
Presently, China is willing to loan simply because they want the excess dollar within their economy to go out....
This is to prevent their own economy heating up and causing inflation or yuan revaluation....
This will not be forever.....
One day, they will come calling for their loan...
China owes africa nothing, bears no moral burden and has no troubling guilty conscience towards Africans.. ...
They will make sure they get their money back in both cash n kind....
Their target will be our natural resources- most African countries will be forced to lease their resources to the Chinese for donkey years....
Another possibility is taking over prized assets within debtors' economy.....
Overall, Africans inability to be self dependent n be disciplined will be it's bane, not any loan from either west or the east....

SarcasticGenius:


I'm sorry but both the young man and his supporters are missing the point entirely. IMF loans at interest rates of 0.75 with conditionalities of cutting down overbloated bureaucracy is much better than the Chinese loan of 3% interest rate with absolutely no strings attached.

Mr Somoye and his boot lickers also overlooked the fact that one of the key conditionalities of IMF loans is that you must account for how you spend it otherwise they won't give you anymore loans.

The Chinese are giving loans WITHOUT ANY CONDITIONS to our leaders and instead of being worried about this flagrant disregard for public accountability we are busy rubbishing the only person in the country who is speaking the truth.

You guys will suffer in the long run, mark my words.

The Chinese are giving your government loans WITH ABSOLUTELY NO CONDITIONS. A government that has no track record of accounting for how it spends money. That means that even if the money is embezzled, the Chinese don't give a hoot as long as they have laid a trap for you and enslaved you as a perpetual debtor. You should be weeping, but instead you are shining your teeth like village illiterates. A reality check is coming.

This is the only post that made sense here. Awoof they run belle.
Cos a young man is brandishing figures up and down means he schooled Ezekwesili.

SoNature:
I bet that most of you up there commenting had no idea what the guy is talking about.

You were impressed that he was flying figures around and that other commentators praised him

I know there are many senseless youths in this country, but please stop displaying your foolishness if you have no reasonable contribution to make

If u quote me, I won't reply you

the guy is wrong and i am not surprised that the typical nigerian failed to see it. He was busy comparing a maturity period of 38years given by IMF with interest as low as 0.8% to chinese maturity period of 12years and interest of 2-3%. It makes no sense! China is enslaving us. Grace period for Chinese loans is just 4years that of Imf is 6years and yet he said chinese loans are better? Nairalanders are daft! Dumb people taking sides because they are bigots.

4Play:


The IMF does not provide loans for infrastructure spending. IMF lending is to deal with emergency situations where a country is facing a balance of payments crisis and needs an infusion of foreign currency. These Chinese loans are not a substitute or alternative to IMF loans. The proper comparison would be with World Bank loans.

exactly

deomelo:
Oby is basically a twitter troll and just like the other trolls and anti Nigerian elements, they always come up with ignorant rubbish and misinformation to justify their trolling ways with and to satisfy her troll followers.


God Bless that young man for lecturing that twitter troll.

99.8% of PDP supporters worldwide wouldn't understand jack shiit about the conversation that just took place.

They'd be reading the exchange like some space exploration scientific data.

I ve problem commenting on nairaland,you could imagine supposedly schooled youths arguing ignorantly,the question is cant we go for reforms that can transform the economy,putting round pegs in round holes as witnessed with the 'Asian Tigers',why do we always have to go begging when we misuse recovered loots,when we have not succesfully blocked loose funds,when we avoid proper audit of NNPC,where oil revenue remain unremitted at the mercy of our thieving leaders,cut cost,avoid capital flight, we must find a way to free ourselves from excessive loans whether from China ,world bank or IMF.
We must also be wary of neo-colonialism by china,they come with loan packages that are lined up with traps,example, they give you 1billion dollars,which is meant for building rail way,there company comes in for the construction,they bring in technical and skilled labour from china,use chinese investment banks as co parterners,for the 1billion dollars project,800 million dollars goes back into equipments from china and over head cost of labour from china,what you get as a country is roughly about 200 million dollars out of the 1billion dollars loan.
That is only about 20% of the initial loan which must be payed back in full with accruing interest.
We must force our leaders to carryout reforms,create enabling environment that will attract foreign investors,rather than always having to jump from one avoidable loan to the other...are we not victims of darkness?

SarcasticGenius:


I'm sorry but both the young man and his supporters are missing the point entirely. IMF loans at interest rates of 0.75 with conditionalities of cutting down overbloated bureaucracy is much better than the Chinese loan of 3% interest rate with absolutely no strings attached.

Mr Somoye and his boot lickers also overlooked the fact that one of the key conditionalities of IMF loans is that you must account for how you spend it otherwise they won't give you anymore loans.

The Chinese are giving loans WITHOUT ANY CONDITIONS to our leaders and instead of being worried about this flagrant disregard for public accountability we are busy rubbishing the only person in the country who is speaking the truth.

You guys will suffer in the long run, mark my words.

The Chinese are giving your government loans WITH ABSOLUTELY NO CONDITIONS. A government that has no track record of accounting for how it spends money. That means that even if the money is embezzled, the Chinese don't give a hoot as long as they have laid a trap for you and enslaved you as a perpetual debtor. You should be weeping, but instead you are shining your teeth like village illiterates. A reality check is coming.

Our people are so ignorant. Chinese loans also come with horrible and hidden conditionalities like backdoor access to our natural resources (mind you Chinese don't bother about ecosystem renewal, they exploit to the bone) and open access for their businessmen to all sectors of our economy.

Lucid1:



I’ll just use one simple ananlogy to discredit this your beer parlor answer.

If your lecturer asks you a question and you keep quiet because you obviously don’t know the answer, does that make him a fool?


You must be in primary school to even think that rubbish statement you used is valid. It shows you’re not growing up and can’t think properly.

I didn't want mention you sha but I guess I will.
if my lecturer asked me a question bk in school and I didn't answer that means I don't know the answer and it doesn't make him a fool.
but understand this, that guy is not her lecturer.
go and read her bio then you will understand that she is a chattered accountant and was once a World Bank vice president, so she knows how all these works more than that guy. she tried to correct the guy with points and saw that the guy is dumb fool, you don't expect her to banter words with a kid who doesn't know the way things are done in inter government loans. she only respected herself and moved over to other tweets meanwhile that's what I do when I encounter fools on social media.
meanwhile you can do alot for your generation by not showing your ill mannered character out here since you are the only grown up here.

SIRTee15:


Forget it, African political leaders lack fiscal discipline n are financially reckless.....
Those loans will never be paid back.....
Check the budgetary implementation of most African countries n u will realise majority depends on western freebies called aids to balance the book....
Presently, China is willing to loan simply because they want the excess dollar within their economy to go out....
This is to prevent their own economy heating up and causing inflation or yuan revaluation....
This will not be forever.....
One day, they will come calling for their loan...
China owes africa nothing, bears no moral burden and has no troubling guilty conscience towards Africans.. ...
They will make sure they get their money back in both cash n kind....
Their target will be our natural resources- most African countries will be forced to lease their resources to the Chinese for donkey years....
Another possibility is taking over prized assets within debtors' economy.....
Overall, Africans inability to be self dependent n be disciplined will be it's bane, not any loan from either west or the east....

Even Western Countries have no moral guilt whatsoever for what was done to Africa
that "white guilt" thing na pure scam and deceit.
Don't you still see how blacks are treated in Europe/the Americas in the 21stcentury
If white guilt was real, all these things won't be happening

For many of them, Africa was weak, and got what they deserved.

it's just that they are now into human rights today.

But China will be much more ruthless because human rights and clemency is not in their dictionary

When Africa borrows into a ditch, then they will see themselves

gurnam:


You are not bright, her silence actually meant consent.
At no point in the debate was there any insult or altercation. It was a civil engagement

bright master well done. so a former World Bank vice president should banter words with a young chap who doesn't know anything about international loans

d guy is right, IMF is bad news.
When d thieving politicians of d then National Party of Nigeria (NPN) ran d nation aground, d IMF knowing that Nigeria was in a very weak position attached slavish conditionalities to their loan which d Buhari/Idiagbon govt rejected. d then economic team led by Dr Onaolapo Soleye devised d ingenuous system of batter 4 oil with Brazil & some other countries which was highly successful & had significant impact in d recovery of d economy.
When Gen Babangida overthrew d Buhari govt he tried to take d IMF loan which met wit stiff resistance frm civil society, Labour, students etc & he had to drop d idea. IBB however took d country down d path of what he described as d Structural Adjustment Program (SAP) which was championed by Chief Olu Falae & which was like taking d IMF loan thru d backdoor & included majorly d devaluation of our currency. d Naira went into a free fall & has never recovered. d IMF is bad news & a tool of neo-colonialism. IBB's error of judgment caused d nation dearly.

Lucid1:


Shouldn’t a loan be repaid?

They will prefer to take the loan, loot it and begin to reschedule the payment until it becomes a bad debt, after which they will plead for debt cancellation.
Oyinbo already knows this game, they will as well play along with them, as long as they can maintain their EXPLOITATIVE GRIP ON NIGERIA, it's a vicious cycle.