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If A Country Split, Who Pays Their Debt - Politics - Nairaland

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If A Country Split, Who Pays Their Debt by AlexBells(m): 10:17am On Oct 02, 2020
I need an answer please, let's assume Nigeria split today or tomorrow, who would China or foreign governments hold responsible for the money they borrowed to Nigeria. I'm curious please

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Re: If A Country Split, Who Pays Their Debt by MajesticKris: 10:18am On Oct 02, 2020
The depth has been paid for on the Cross...

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Re: If A Country Split, Who Pays Their Debt by AlexBells(m): 10:19am On Oct 02, 2020
MajesticKris:
The depth has been paid for on the Cross...
Alaye, know when to be serious Jarry,

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Re: If A Country Split, Who Pays Their Debt by hisgrace090: 10:20am On Oct 02, 2020
Anyone that consumes the credit will pay.

One region will pay 95% while another will pay 5%.

As simple as that.

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Re: If A Country Split, Who Pays Their Debt by AlexBells(m): 10:21am On Oct 02, 2020
hisgrace090:
Anyone that consumes the credit.
Is there anyone that did not consume the credit so are you saying, when Nigeria split china can still go to Arewa republic, or Biafra or Oduduwa or Middle Belt Republic to claim their loan, what's the verifiable fact that these money were not even looted or used for the project they were borrowed for, or did the government drop any collateral

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Re: If A Country Split, Who Pays Their Debt by Nobody: 10:29am On Oct 02, 2020
AlexBells:

Is there anyone that did not consume the credit so are you saying, when Nigeria split china can still go to Arewa republic, or Biafra or Oduduwa or Middle Belt Republic to claim their loan, what's the verifiable fact that these money were not even looted or used for the project they were borrowed for, or did the government drop any collateral
The loan are used to carry out projects right ? ...the region that inherited the projects would pay for the loan
The other general loan would be shared by 36 , or by local government as they benefited from it

Infact everyone would pay for what they consumed

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Re: If A Country Split, Who Pays Their Debt by baralatie(m): 10:31am On Oct 02, 2020
Igbochief001:

The loan are used to carry out projects right ? ...the region that inherited the projects would pay for the loan
The other general loan would be shared by 36 , or by local government as they benefited from it

Infact everyone would pay for what they consumed
everybody will pay for what it consumed
meaning that mambilla debt of $5 billion grin

Lagos rail of $10 billion grin

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Re: If A Country Split, Who Pays Their Debt by Nobody: 10:32am On Oct 02, 2020
baralatie:

everybody will pay for what it consumed
simple ...so south east would pay the least

6 Likes

Re: If A Country Split, Who Pays Their Debt by baralatie(m): 10:35am On Oct 02, 2020
Igbochief001:
simple ...so south east would pay the least
who told you?
okorocha $2 billion

that anambra gov international $1 billion

what make I go calculate Al the gbese collected by governors

1 Like

Re: If A Country Split, Who Pays Their Debt by criuze(m): 10:36am On Oct 02, 2020
ask the born to rule
Re: If A Country Split, Who Pays Their Debt by flyingpig: 10:36am On Oct 02, 2020
MajesticKris:
The depth has been paid for on the Cross...
grin savage

4 Likes

Re: If A Country Split, Who Pays Their Debt by AlexBells(m): 10:36am On Oct 02, 2020
Igbochief001:
simple ...so south east would pay the least

Okay what about loans borrowed to do something like fight covid 19, like loans not on traceable capital expenditure, what if the government of the new countries refuse to pay, who shares what country gets what ration
Re: If A Country Split, Who Pays Their Debt by flyingpig: 10:36am On Oct 02, 2020
criuze:
ask the born to rule
grin born to pay

3 Likes

Re: If A Country Split, Who Pays Their Debt by baralatie(m): 10:38am On Oct 02, 2020
AlexBells:


Okay what about loans borrowed to do something like fight covid 19, like loans not on traceable capital expenditure, what if the government of the new countries refuse to pay, who shares what country gets what ration
simple Nigeria goes on every where lockdown
nobody go go anywhere until money is paid in full
Re: If A Country Split, Who Pays Their Debt by HAccord: 10:40am On Oct 02, 2020
If 3 people enter mama put, no be who chop pass dey pay pass? grin

Abeg check signature for cheap honda for sale.

4 Likes

Re: If A Country Split, Who Pays Their Debt by AlexBells(m): 10:43am On Oct 02, 2020
HAccord:
If 3 people enter mama put, no be who chop pass dey pay pass? grin

Abeg check signature for cheap honda for salr.

If three people enter Mama put and say borrow pay for one plate of rice, they come reach house, one two people come later finish most of the food, no bi three of them Mama put go hold, because na the matter we dey settle since

1 Like

Re: If A Country Split, Who Pays Their Debt by prince2pac(m): 10:44am On Oct 02, 2020
let me pitch my tenth here, I have wanting to ask this same question
Re: If A Country Split, Who Pays Their Debt by Commonsense99: 10:45am On Oct 02, 2020
cheesy
In the event of a break up, assets and liabilities are equally shared, debts are also equally shared.
Reason why concentrating government projects in the North with borrowed money is seen as a smart move by PMB, that is why the south is constantly kicking, no one knows tomorrow.

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Re: If A Country Split, Who Pays Their Debt by baralatie(m): 10:48am On Oct 02, 2020
Commonsense99:
cheesy
In the event of a break up, assets and liabilities are equally shared, debts are also equally shared.
Reason why concentrating government projects in the North with borrowed money is seen as a smart move by PMB, that is why the south is constantly kicking, no one knows tomorrow.
you are missing the point!
if katsina earns $2 billion in debt consumption.katsina cannot call abia to share in it.
the rule is still the same wether they are together or they split

5 Likes

Re: If A Country Split, Who Pays Their Debt by Nobody: 10:49am On Oct 02, 2020
AlexBells:


Okay what about loans borrowed to do something like fight covid 19, like loans not on traceable capital expenditure, what if the government of the new countries refuse to pay, who shares what country gets what ration
We go divide am by number of states na. ..each state pay there own ...states in turn divide by LGA
Re: If A Country Split, Who Pays Their Debt by Nobody: 10:50am On Oct 02, 2020
baralatie:

who told you?
okorocha $2 billion

that anambra gov international $1 billion

what make I go calculate Al the gbese collected by governors
Bros all south east debt combined is not up to $2 billion dollars stop lying

2 Likes

Re: If A Country Split, Who Pays Their Debt by AlexBells(m): 10:50am On Oct 02, 2020
baralatie:

you are missing the point!
if katsina earns $2 billion in debt consumption.katsina cannot call abia to share in it.
the rule is still the same wether they are together or they split
We are talking about Nigeria where there is no visible project to show for these borrowing even in the North, unless it is the paper thing, in which way it won't be funny
Re: If A Country Split, Who Pays Their Debt by AlexBells(m): 10:53am On Oct 02, 2020
baralatie:

who told you?
okorocha $2 billion

that anambra gov international $1 billion

what make I go calculate Al the gbese collected by governors
We are not talking about state loan that one is simple, we are talking about federal loans used to construct something for everyone's use.
Re: If A Country Split, Who Pays Their Debt by Admiral49(m): 10:53am On Oct 02, 2020
Then we go play that Ajegunle song that goes like this " wetin don loss don loss"

5 Likes

Re: If A Country Split, Who Pays Their Debt by AlexBells(m): 10:55am On Oct 02, 2020
Igbochief001:

We go divide am by number of states na. ..each state pay there own ...states in turn divide by LGA
Maybe local government go divide by constituency, constituency go decide give individuals, now you, you go gree pay this loan ??

1 Like

Re: If A Country Split, Who Pays Their Debt by gidgiddy: 11:00am On Oct 02, 2020
AlexBells:
I need an answer please, let's assume Nigeria split today or tomorrow, who would China or foreign governments hold responsible for the money they borrowed to Nigeria. I'm curious please

Lets assume Nigeria splits into three new countries, Oduduwa Republic, Arewa Republic and Republic of Biafra. What usually happens is that before the actual split, or immediately after it, representatives of all three countries will meet to discuss the sharing of assets and liabilities. Debts will make up part of the liabilities. If money was borrowed from China to execute a particular project, you pay for the part of the project that affects you. Assuming 10 million Dollars was borrowed from China to build a rail project that starts in the North and terminates in the South, any territory that benefits from the rail project will pay its share of the 10 million Dollars used in building the rail in that territory.

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Re: If A Country Split, Who Pays Their Debt by chrisxxx(m): 11:01am On Oct 02, 2020
The whole idea of grossly burying Nigeria into debt is to ensure Nigeria does not split. This is an advice from the UK. When you borrow money from China they will ensure you don't split especially if there is a side that wants to stay. They will help arm the them to ensure the country does not split.

10 Likes

Re: If A Country Split, Who Pays Their Debt by Nobody: 11:01am On Oct 02, 2020
AlexBells:

Maybe local government go divide by constituency, constituency go decide give individuals, now you, you go gree pay this loan ??
We igbos don't mind paying Nigeria debts if it would secure us freedom

Nigeria debts is nothing a serious nation can pay it in 5 years n still grow

7 Likes

Re: If A Country Split, Who Pays Their Debt by baralatie(m): 11:03am On Oct 02, 2020
AlexBells:

We are talking about Nigeria where there is no visible project to show for these borrowing even in the North, unless it is the paper thing, in which way it won't be funny
not funny me?
the loan creditors have documents that shows where these money are pumped into.For example,China exim bank paid Nigeria $5 billion to build mambilla hydro plant and these hydro plant is domicilled in a new fragmented country.obviously you shouldn't expect Lagos State of rivers State to now share in that debt it is impossible.
likewise the debt of second Niger bridge ($1 billion) in anambra will not e shared with ogun state
the $2.2 billion 4th mainland bridge will not be shared with Kano.

Now wether be or wether not.it is found that these debt monies were stolen or the projects were unsustainable.it does not change the legal status of the debtor.

and if it so happens that the fragments are screaming they cannot pay.the whole geographical Land mass of Nigeria will be put on total lockdown

5 Likes

Re: If A Country Split, Who Pays Their Debt by AlexBells(m): 11:09am On Oct 02, 2020
baralatie:

not funny me?
the loan creditors have documents that shows where these money are pumped into.For example,China exim bank paid Nigeria $5 billion to build mambilla hydro plant and these hydro plant is domicilled in a new fragmented country.obviously you shouldn't expect Lagos State of rivers State to now share in that debt it is impossible.
likewise the debt of second Niger bridge ($1 billion) in anambra will not e shared with ogun state
the $2.2 billion 4th mainland bridge will not be shared with Kano.

Now wether be or wether not.it is found that these debt monies were stolen or the projects were unsustainable.it does not change the legal status of the debtor.

and if it so happens that the fragments are screaming they cannot pay.the whole geographical Land mass of Nigeria will be put on total lockdown
What about monies borrowed for school feeding programs
Re: If A Country Split, Who Pays Their Debt by baralatie(m): 11:10am On Oct 02, 2020
AlexBells:

We are not talking about state loan that one is simple, we are talking about federal loans used to construct something for everyone's use.
it is the same principle!
Federal loans comes in different states
there is the loans collected to build roads,
there is the loans collected to build rail
there are special projects
there are loans giving to states to fund their shortfalls
there are promissory of federal govt to states

every part will collect what he or she owes wether it was executed or not

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