XANDERBOY85:
See why Senator Abaribe wanted a breakdown of how the entire loan would be spent! Can anyone in all honesty say this rubbish is fair to the south-east? Besides a $50 million vocational training centre that touches all regions of the country, and one or two general/national spendings, the south-east gets nothing else! But look at other regions, and see how they compare: in some instances, specific/stand-alone projects worth multi-millions of dollars are targeted for specific states! States like Kaduna, Taraba, Kogi as well as regions like south-west/north-west and south-south (east-west road and railway) were specifically mentioned!

Can neutrals now see why Igbos are fed up with this divisive, vindictive and bigoted Buhari gov't? Let no efulefu Igbo bastard in APC come and tell me Igbos are faring better under this evil regime and we should roll out the drums in celebration!

To make it worse, the taxes from the south east and igbo businesses in general will be used to pay back the loans in the next 3 generations.

Meaning that our grandchildren will be responsible for paying back a national loan that never benefited their region. In a tangible way. Igbos need to start financing their own infrastructures by themselves. Nigeria will never treat you fairly as long as it exists.

Former governor of Akwa Ibom state once asked Gowon why The civil war was fought in the east but post civil war reconstruction was done in Lagos. He had no response to the question

LordPsalm:
Over $22b and none will be used in South East, Well no be today, The North will NEVER be matched to the East even if they spend $500b there.
Useless people always marginalizing the east.
May God purnish u ppl

God pass them

tiredoflife:


Any time msme is called
People mention graduates

Are graduates the only people dat deserves loans
Graduates are a minority of the entire population
Yet u all think loans should always go to people who are designed to look for jobs

its hard for a non graduate to prepare a bankable business plan for banks and government, however it is open to everybody because nobody asks for any qualification in accessing business loan

South east I hail una ooo, buhari just no get joy for una at all at all

THIS IS A LOAN FOR THE NORTH. 90% OF THE ITEMS ARE FOR THE NORTH. NONE FOR THE SOUTH EAST. NONE!

A nigga once said: So they still approved the $500m for NTA. hehe na only laugh i laugh...

By the time this Gov't is finished with this country, and leave. Na then una go know the real meaning of corruption...

DModeCntStopMe:


$500m for NTA?

When Jesus Christ on the cross said "it is finished"

I'm now convinced he was talking about Nigeria.

NTA needs upgrading.

And with oil prices falling below what we need it to be, it is a loan, or Lai starts charging tv licence fees

And no, it does not mean Buhari is a good leader.

K

I don't care. I have never cared about Nigeria

70percent of this budget is going to the north.

Cc cstr2

500m dollars for NTA digitisation ? Are you kidding me?

How many years will they keep digitizing the NTA? Mind your after waisting the money I can tell you it will still be same old 1962 pictures...

Some much leakages I see here. . It's a shame.

Racoon:
So what becomes of all the audio money generations, Abacha stolen monies, unremitted monies by MDAs as disclosed by office of the accountant general, ICPC, EFCC? Chronic debt pillage hence mortgaging Nigeria into more financial indebtedness.This is because debt servicing is not debt payment.

All the monies have been re-looted by the biggest most pretentious barawo of all times..
Lobatan.


www.nairaland.com/attachments/3420913_head1_jpeg228715075b5beb1ff535a37cebe931c5



www.nairaland.com/attachments/3441929_img20160227001458_jpeg3fecf627d6b5447631b348f011e59b5a

I have gone through the breakdown, and it is a crying shame.

Apart from three projects there, the rest is not going to change the fortunes of Nigeria in any significant way.

So this is how this old man is going to waste 22 billion dollars and Nigeria will still remain the poverty capital of the world labouring under the yoke of debt servicing.

Too bad. Too freaking bad.

A leader like Kagame will weep at the waste.

lloyds:
He is a mad man. I have been a Buhari advocate for years but this borrowing thing has shown that he has no plans for NigeriaS future at all.

With all the prevailing loans + this one, how do we service and pay back?

When global energy consumption is shifting to alternative solutions to oil. Which other viable industry do we have. .?

Such sick set of leaders we always keep having. . Embarking on snow flake projects just to pass off their tenure. . It's a shame.

Good points.

But for now, the reality is that oil prices have been below what we need it to avoid borrowing since 2014, and won't be going up anytime soon.

So we borrow, or we would be in an even worse state.

Sadly as you said, the current government isn't thinking about how to get us off oil.

StaffofOrayan:



Bros these crap are not done in the name of Yoruba's. Besides the funds would be looted

This is a foolish way of thinking, so since the funds would be looted there's no need to benefit from it?

jimyjames:
And nothing for south east?

Israel is the most hated country in the middle east yet most prosperous. Igbos are the most hated , most envied in Nigeria yet most advanced individually, has the lowest poverty level because of determination to succeed.


No region will achieve what the Igbo nation has achieved in Nigeria within a short period of time given what they went through after the war. It is not gainsaying. They are living on borrowed money we are living on works of our hands money.

In Adams Oshi-Omo-Ole voice; haters go and die

jimyjames:
And nothing for south east?

That's the thing about this country.
How in the world do you think a nation will move forward when injustice like this is done?

But God always have a way to fight for the marginalized.
Look at Nigeria going to almost 60 years as a nation, but still revolving round the same spot.

Irrespective of whatever, the igbo man is still blessed.

I believe it's time our leaders in the East begin to ask themselves honest question. Come together and source for funds as a regional block to develop our region.
We can pull funds to develop our place, in fact we shouldn't be depending on central government for development.

Lai Mohammed quietly gets his $500m. Na wa oooh.

Most these thing goes to.North..

horsepower102:
To make it worse, the taxes from the south east and igbo businesses in general will be used to pay back the loans in the next 3 generations.
Meaning that our grandchildren will be responsible for paying back a national loan that never benefited their region. In a tangible way. Igbos need to start financing their own infrastructures by themselves. Nigeria will never treat you fairly as long as it exists.
Former governor of Akwa Ibom state once asked Gowon why The civil war was fought in the east but post civil war reconstruction was done in Lagos. He had no response to the question

If southerners can't get together and avoid long throat greediness killing us, we will continue to have our anus drilled silly by the burantashi of lootocracy northerners, who will use every trick to hold us back under their yoke.


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Collapse of Soviet Union

1. Collapse of Communism in the Soviet Union and Eastern Europe (1989)
2. Détente: Cooperation between Superpowers - During the Cold War President Nixon and Brezhnez conducted SALT (Strategic Arms Limitation Talks) conferences and signed a treaty limiting the number of missiles each country can have.

3. USSR and Afghanistan Cooperation/Détente Ends • 1979-1988 • USSR backed the Afghan government; the US backed the Mujahedeen rebels • US boycotted the 1980 Olympics in Moscow • 14,000 Soviet dead; 1+million Afghans –Over 5 million Afghans fled (more than 1/3 of the population) –10-15 million land mines still in Afghanistan –Soviets withdrawal defeated
4. - Soviet economic collapse - Nationalism in Warsaw Pact countries - Tearing down of Berlin Wall - Breakup of the Soviet Union Collapse of Communism in the Soviet Union and Eastern Europe

5. Nationalism in Warsaw Pact Countries 1. Gorbachev’s pullout from Afghanistan and his policy of Non-Intervention gave rise and momentum to Warsaw Pact nationalism movements. 2. Soviet/Warsaw Pact countries resented Soviet control and wanted to direct their own governments.
6. Tearing Down the Berlin Wall 1. East Germany elected a more moderate Communist government, but many not satisfied; allowed people to leave East Germany 2. November 9, 1989 – the Brandenburg Gate opened and people began tearing down the wall 3. Tearing down Berlin Wall symbolized and helped lead to fall of Communism in Eastern Europe; East Germany & Czechoslovakia 4. Gorbachev and President Reagan given credit for being most responsible for the end of the Cold War

7. Ronald Reagan: U.S. President 1980-88 “Tear down this wall”
8. Brandenburg Gate Fall of the wall news broadcast
9. Soviet Economic Collapse 1. Over-spending on arms race weakened government & economy 2.Soviet leader, Mikhail Gorbachev tried to reform the USSR economy in two plans a. perestroika – restructuring of the Soviet political and economic system - Weakened Russian economy in short-term b.glasnost – “Openness” freed public access to information after decades of heavy government censorship 3. Gorbachev encouraged reform in other 15 Soviet Socialist Republics: new countries 4. Hard-line communists attempted a coup against Gorbachev – failed 5. U.S.S.R. crumbles; Gorbachev = the last leader of the USSR 6.Boris Yeltsin, with support of many who wanted continued reforms, becomes President of Russia Mikhail Gorbachev U.S.S.R. Boris Yeltsin Russia

10. Break Up of Soviet Union 1. Soviet Republics, one-by-one, broke away from Moscow and declared independence. 2. 1989-90: The Union of Soviet Socialist Republics (U.S.S.R) was dead.

https://www.slideshare.net/bbednars/collapse-of-soviet-union-61548605

Most of those projects Buhari is borrowing for is totally unnecessary.

How much would be poured into the north east they already have NEDC and other projects.

Now they want to allocate full blown 300million dollars to them

stop telling lies, Isreal isn't the top in military might of middle east, they don't have the largest gdp or per capital so stop telling lies

9jaDoomCountry:




Israel is the most hated country in the middle east yet most prosperous. Igbos are the most hated , most envied in Nigeria yet most advanced individually, has the lowest poverty level because of determination to succeed.


No region will achieve what the Igbo nation has achieved in Nigeria within a short period of time given what they went through after the war. It is not gainsaying. They are living on borrowed money we are living on works of our hands money.

Now I understand y Senator Abaribe wanted to know how the money will be use.

Buhari is diving Nigeria with all these his tribalistic tendencies the hatred will continue to grow.

So many of us igbos who are supporting Nigeria or Buhari self don't know what we are supporting him for, he keeps paying us back with hatred and marginalization.

Back2Daura:
THIS IS A LOAN FOR THE NORTH. 90% OF THE ITEMS ARE FOR THE NORTH. NONE FOR THE SOUTH EAST. NONE!

And the irony is that you need to activate the Nnewi -aba- Onitsha industrial clusters to even have a chance at sustainable industrialisation of this country.
I would expect significant investment in roads, power and standardisation of those places.

Invest in the middle belt. Activate their agricultural sector.

The old man is building rails and roads in the north.

To do what? To make Northern -southern Migration easier?

It's a waste. Nobody can convince me otherwise.

meforyou1:
east-west road doesnt pass through south east. it's in south south.
marginalise all u want, we dont care

Even with all there marginalization the igbo man is faring well. His God has blessed him.

The only pity are the kind of leadership we have in the East. Very terrible.
Unlike the times of Micheal Okpara, Akanu Ibiam. These were true visionary leaders of the East

fergie001:


https://www.thecable.ng/in-full-1-25bn-for-abuja-rail-500m-for-nta-buharis-22-7bn-loan-spending-plan/amp

We are in serious trouble. Chaiiiiii...

solmus:


its hard for a non graduate to prepare a bankable business plan for banks and government, however it is open to everybody because nobody asks for any qualification in accessing business loan

Who told u it's hard
Who gave u that notion
Business plan has to do with finding a need and meeting it
I have been opportuned to meet that man Evans kidnapped twice who paid $2m to be free
We had dinner at golden tulip hotel in festac town
He is not a graduate
So are many CEOs of good profit making companies in Nigeria

Graduates should cut this entitlement mentality
The govt plans are not solely tailored for u lots

Anyone with a good idea doesnt have to be a graduate
It's cheap to think solutions
And also cheaper to get a business plan written

I am in a start up company
We are in our talking phase
Deals we are pulling will blow ur mind
From oil and gas to agriculture

Guess what we are not all graduates
We only have a solution driven team

Even our business plan is not written by us
All u need is a good network
The right phone numbers
And ur ideas will come to life

That trash called Bsc will only get u a job in the company of the man u think is an illiterate cos he hasn't gotten certification u all got from school.

Henry Ford who didnt go to school was once accused as an illiterate in a newspaper in America
He took them to court and won the case
Not because he is not an illiterate
But he has the ability to get the job done

So I repeat loans are not designed to suit graduates but people who can bring workable solutions

[s]

Witcher:
Most read
Speech as Nigeria Military Head Of State (1983)
Muhammadu Buhari

In pursuance of the primary objective of saving our great nation from total collapse, I, Major-General Muhammadu Buhari of the Nigerian army have, after due consultation amongst the services of the armed forces, been formally invested with the authority of the Head of the Federal Military Government and the Commander-in-Chief of the armed forces of the Federal Republic of Nigeria. It is with humility and a deep sense of responsibility that I accept this challenge and call to national duty.

As you must have heard in the previous announcement, the constitution of the Federal Republic of Nigeria (1979) has been suspended, except those sections of it which are exempted in the constitution. The change became necessary in order to put an end to the serious economic predicament and the crisis of confidence now afflicting our nation.

Consequently, the Nigerian armed forces have constituted themselves into a Federal Military Government comprising of a Supreme Military Council, a National Council of States, a Federal Executive Council at the centre and State Executive Councils to be presided over by military governors in each of the states of the federation. Members of these councils will be announced soon.
The last Federal Military Government drew up a programme with the aim of handing over political power to the civilians in 1979. This programme as you all know, was implemented to the letter. The 1979 constitution was promulgated.
However, little did the military realise that the political leadership of the second republic will circumvent most of the checks and balances in the constitution and bring the present state of general insecurity.

The premium on political power became so exceedingly high that political contestants regarded victory at elections as a matter of life and death struggle and were determined to capture or retain power by all means. It is true that there is a worldwide economic recession.
However, in the case of Nigeria, its impact was aggravated by mismanagement. We believe the appropriate government agencies have good advice but the leadership disregarded their advice. The situation could have been avoided if the legislators were alive to their constitutional responsibilities. Instead, the legislators were preoccupied with determining their salary scales, fringe benefit and unnecessary foreign travels, et al, which took no account of the state of the economy and the welfare of the people they represented.

As a result of our inability to cultivate financial discipline and prudent management of the economy, we have come to depend largely on internal and external borrowing to execute government projects with attendant domestic pressure and soaring external debts, thus aggravating the propensity of the outgoing civilian administration to mismanage our financial resources. Nigeria was already condemned perpetually with the twin problem of heavy budget deficits and weak balance of payments position, with the prospect of building a virile and viable economy.

The last general election was anything but free and fair. The only political parties that could complain of election rigging are those parties that lacked the resources to rig. There is ample evidence that rigging and thuggery were relative to the resources available to the parties. This conclusively proved to us that the parties have not developed confidence in the presidential system of government on which the nation invested so much material and human resources. While corruption and indiscipline have been associated with our state of under-development, these two evils in our body politics have attained unprecedented height in the past few years. The corrupt, inept and insensitive leadership in the last four years has been the source of immorality and impropriety in our society.

Since what happens in any society is largely a reflection of the leadership of that society, we deplore corruption in all its facets. This government will not tolerate kick-backs, inflation of contracts and over-invoicing of imports etc. Nor will it condone forgery, fraud, embezzlement, misuse and abuse of office and illegal dealings in foreign exchange and smuggling.
Arson has been used to cover up fraudulent acts in public institutions. I am referring to the fire incidents that gutted the P&T buildings in Lagos, the Anambra State Broadcasting Corporation, the Republic Building at Marina, the Federal Ministry of Education, the Federal Capital Development Authority Accounts at Abuja and the NET Building. Most of these fire incidents occurred at a time when Nigerians were being apprehensive of the frequency of fraud scandals and the government incapacity to deal with them.

Corruption has become so pervasive and intractable that a whole ministry has been created to stem it.
Fellow Nigerians, this indeed is the moment of truth. My colleagues and I – the Supreme Military Council, must be frank enough to acknowledge the fact that at the moment, an accurate picture of the financial position is yet to be determined. We have no doubt that the situation is bad enough. In spite of all this, every effort will be made to ensure that the difficult and degrading conditions under which we are living are eliminated.
Let no one however be deceived that workers who have not received their salaries in the past eight or so months will receive such salaries within today or tomorrow or that hospitals which have been without drugs for months will be provided with enough immediately. We are determined that with the help of God we shall do our best to settle genuine payments to which government is committed, including backlog of workers’ salaries after scrutiny.

We are confident and we assure you that even in the face of the global recession, and the seemingly gloomy financial future, given prudent management of Nigeria’s existing financial resources and our determination to substantially reduce and eventually nail down rises in budgetary deficits and weak balance of payments position. The Federal Military Government will reappraise policies with a view to paying greater attention to the following areas: The economy will be given a new impetus and better sense of direction. Corrupt officials and their agents will be brought to book.

In view of the drought that affected most parts of the country, the federal government will, with the available resources, import food stuffs to supplement the shortfalls suffered in the last harvest.
Our foreign policy will both be dynamic and realistic. Africa will of course continue to be the centre piece of our foreign policy. The morale and combat readiness of the armed forces will be given high priority. Officers and men with high personal and professional integrity will have nothing to fear.

The Chief Justice of Nigeria and all other holders of judiciary appointments within the federation can continue in their appointments and the judiciary shall continue to function under existing laws subject to such exceptions as may be decreed from time to time by the Federal Military Government. All holders of appointments in the civil service, the police and the National Security Organisation shall continue to exercise their functions in the normal way subject to changes that may be introduced by the Federal Military Government.

All those chairmen and members of statutory corporations, parastatals and other executive departments are hereby relieved of their appointments with immediate effect.
The Federal Military Government will maintain and strengthen existing diplomatic relations with other states and with international organisations and institutions such as the Organisation of African Unity, the United Nations and its organs, Organisation of Petroleum Exporting Countries, ECOWAS and the Commonwealth etc. The Federal Military Government will honour and respect all treaties and obligations entered into by the previous government and we hope that such nations and bodies will reciprocate this gesture by respecting our country’s territorial integrity and sovereignty.
Fellow Nigerians, finally, we have dutifully intervened to save this nation from imminent collapse. We therefore expect all Nigerians, including those who participated directly or indirectly in bringing the nation to this present predicament, to cooperate with us. This generation of Nigerians, and indeed future generations, have no country other than Nigeria. We shall remain here and salvage it together.

May God bless us all. Good morning.

[/s]
Stop this trash

Now I see why we are backward and will still remain backward with this kind of projects. Obviously, over 50% of the funds will go to waste or looted.

That's huge funds for Lagos and Ogun power is a cool one. I see these two states enjoying stable electricity.

fergie001:


https://www.thecable.ng/in-full-1-25bn-for-abuja-rail-500m-for-nta-buharis-22-7bn-loan-spending-plan/amp

So, this is the breakdown for the looting? Nigeria is gone. The Abidjan Lagos corridor study group project which the International community is handling for ECOWAS through the EU and other donor agencies now requires loan for counterpart funding? Wayo. Fraud. How much loan would be required to construct the road? The IT infrastructure backbone project should be handled by telecom companies. Is it Prof Dambatta and NITDA DG that submitted this cost? What about security? You edited it out?
What is the rate of return? How are we going to pay back? Must you collect $22.7 billion loan for this PAPER WORK. Nigeria is gone