₦airaland Forum

barcanista:
You have spoken well. Though no government should borrow to make up recurrent expenditure. The problem is simply a structural one. Nigeria system is anti-progress.

thanks

since1914:
@ MzansiBeat...at least the report did not say Nigeria is borrowing from South Africa to pay salary. Most certainly, the borrowing is local, and will likely be funded by local Nigerian banks. The inferiority complex displayed by some Africans towards Nigerians is almost getting irritating. As Nigerians, we know we have lots of problems and we have never denied them, rather we keep shouting ourselves hoarse at every given opportunity we get, to discuss the way forward...Yet other Africans abandon all of their own domestic problems to focus on that of Nigeria. I personally fear for South Africa because, there is a huge social crisis brewing there, all the Xenophobic attacks and the incessant violent labour strikes are only symptoms of a deeper problem - the staggering disparity of the social, economic and educational conditions between South African blacks and the whites. Which if not tackled soonest, will lead to an inevitable civil war. So OP, that is what you should be worried about, and not about how we foot our bills.

Back to the issue at hand, I hope NOI is begining to see all that we had warned her about several months ago. We have no business borrowing to pay salaries if we had been more prudent with our earnings. Most Nigerians might not have Economics degrees from Harvard, but at least they still have commonsense.

do you want to compare Nigerian problems with south Africa problems and prefer Nigerian problems

Rossikk:
I was about to ask him the same thing. I'm sure he worships America.

don't solve a problem with a problem don't be fool like your friend you just quoted

EZEIGBO1OFIMO:
America's Debt to GDP ratio is 101.3% , totalling 24 trillion dollars in debt, Germany has 87% in debt GDP ratio, Japan has 224% Debt GDP ratio totalling $10 trillion in debt. The truth is, with capitalism, no country can ever be debt free, so long the bretton woods and keynesian economics stand.
cc- barcanista truckpusher buddahmonk

we need proof not that sh**t you wrote!!!

EZEIGBO1OFIMO:
America's Debt to GDP ratio is 101.3% , totalling 24 trillion dollars in debt, Germany has 87% in debt GDP ratio, Japan has 224% Debt GDP ratio totalling $10 trillion in debt. The truth is, with capitalism, no country can ever be debt free, so long the bretton woods and keynesian economics stand.
cc- barcanista truckpusher buddahmonk

any link to back up your story?!

ucheokpara100:
the south africa we are going to or talking about is just the places whites developed not africa's south africa if u doubt me come to south africa, all thy do is buy cloths on credit dress with big eye glass and go about with empty pocket.
i swear these people go to shops as big as shoprite with their R5 without shame let's say their 5 naira but because of exchange rate it is our 80 naira.

lolest jealous is killing You.......you can stop black south Africans from shopping its in their blood.....the south African black middle class spend more than $50 billion dollars annually.....and that storyline of R5 even you country men can see that your father is an idio*t!

Volksfuhrer:
Op, from the tone of your post I may have to concede you are South African, no?

Nop from MZANSI FO SHO

MugabeRobert:
Do you know how much America is owing? Fool.

NO!!!...we don't know how much?...financial deputy minister of USA!

MzansiBeat:
"Lagos - Africa's richest economy is borrowing money to pay salaries as it struggles through a "difficult cash crunch" brought on by halved oil prices, Nigeria's finance minister revealed on Tuesday.

The news comes as Nigeria prepares to welcome a new government at the end of month and its naira currency remains in a slump, hovering between 180 and 220 to the US dollar. It was trading at 160 a few months ago.

Minister Ngozi Okonjo-Iweala tried to be upbeat in a speech after the legislature on Tuesday approved the 2015 budget thrice revised because of slashed oil prices that provide 80% of revenue for the government of Africa's biggest petroleum producer.

She said "revenue challenges" have prohibited the release of any funds for capital expenditure this year but that food prices and single-digit inflation remain quite stable. And she said the economy still is on course to grow 4.8% this year.

"We have front-loaded the borrowing program to manage the cash crunch," Okonjo-Iweala told legislators. "Out of the ?882bn budgetary provision for borrowing, the government has borrowed ?473bn to meet up with recurrent expenditure, including salaries and overheads."

That's bad news for the incoming government of President-elect Muhammadu Buhari, who takes over May 29 from incumbent Goodluck Jonathan.

Buhari acknowledges that constricted revenue and endemic corruption threaten his will to deliver on development and reconstruction of areas devastated by a nearly 6-year-old Islamic uprising in the northeast.

He says his fight against corruption should produce the money needed to bring change to a country where petroleum riches benefit a small clique while the majority of the 170 million people in Africa's most populous nation live hand to mouth.

Critics blame the financial crisis in part on the most expensive election ever held in Nigeria, though no one knows how much politicians from both sides spent trying to buy influence and bribe voters".

The giant of (WEST) Africa -

impressed loving the news!!

At last xenophobia became a wake up call for south African home affairs #SayNoToXenophobia!!!

14:
Wow, that wouldmake SA a R100trillion economy, if that was the case. Its clear you live in SA but have little knowledge about the country you live in economy. White people dont control 99% or 80% of SA economy, otherwise all blacks would be poor. SA economy is so sofisticated that no one owns it. Pension funds own SA economy. You need to learn more, R3trillion of our economy is owned by Pension funds, R1.4trillion of it is controlled by government pension fund which is called PIC, check website if you dispute this, http://www.pic.gov.za/ .

PIC is a government pension fund, so who works at the government, last time i checked, blacks make 90% of government workers, they own that R1.4trillion, its their pension money. Check their website you will see how many companies they have invested in. I m just educating you my friend.

including the share they own on Dagote cement

Cutest9gerian:
This is what happens when a father leaves his house to go and feed his neighbors children

what if the father didn't go to feed the children of his neighbours, he took the money and visited a night club to live a good life and spending the money to the neighbours became an excuse to his wife if she asked about the money

vacanci:
At least i remember Majek Fashek singing "FREE MANDELLA" back then, and the music made waves across Africa.

world wide musicians did the same, what are you trying to say?

NCOIM:
Its really not needed
South Africans are bunch of Pained Overgrow Idiots They just woke up one morning and started killing people
Psychotic Miscreants
Nigeria Shouldn't be looking After this ungrateful Devilish country Whether they like it or not Nigeria will andmust remain the largest Economy
Bunch of pathetic ingrates

same applies to you country

omonnakoda:
How old are you?

old enough to understand the situation..... The same question of age should be returned to you, how old are you

TheSonOfMark:

Just perfect. South Africa, please can you folks return the billions we sent to you (with interest ofcourse)? We need the money to help fund our economic ventures. Thank you in advance, idiots!

what if there were no billions spent to south Africa......what if it was the only explanation your leaders could tell rather than telling you the truth that there was no money going to south Africa, they spent the money on their personal needs private jets are proof of that

vacanci:
At least i remember Majek Fashek singing "FREE MANDELLA" back then, and the music made waves across Africa.

after that what happened?

all4naija:
. Smelling Zulu from the squalor of Township!

lolest 0likes.....and how many times should I tell you that I'm not Zulu but Ndebele and not from the township but a village boy!!!!

mzilakazi:
I just wish Nigeria to take this bold step and see the implications. Let them kick out MTN and see SA as the biggest importer of Nigeria's oil in Africa also cutting down or cancelling their import of oil from Nigeria. America had already reduced their import of Nigeria's oil and another blow from SA will further deal them an immense loss.

And return 1million Nigerians living in south Africa to Nigeria......and that will 1 500 600 Nigerians unemployed and each of them supporting an average of 5 family members and that means an average population of 7 503 000 will go hungry in Nigeria adding on 70% of the population that is already dying of hunger....*nd we will see who will be more affected by this boycott thing

all4naija:
That is half the truth of anything importance in your post. The nations in the Middle East where MTN is operating are likely Iran and Syria (is at war), in Europe is Cyprus and their combined growth is not even as high as that of Nigeria. Please, get your facts straight before coming here to support your overrated telecommunication company. The people know your country have properties in those African nations yet kill the citizens who are living in their land. That is a senseless and primitive thing to do. You are turning a blind eye to the issue at stake while taking your bag of rip-off MNT as unavoidable whereas it is not. We are ready to sacrifice for the better of humanity. You can't just go about killing people in your country and expect to be patted on the shoulder because your country has companies that employ and pay workers outside its borders. You are all i d i o t s to say the least!

You are joking! It will take another better telecommunication company Nigerian government refuses to favor because of MNT being an African business to absorb the consequences of MTN pulling out of the Nigerian economy. Let me sound this clear, Nigerian economy is big enough at the moment to attract good telecommunication from the West if the government court it.

I say boycott MTN and let them go to other countries in the Middle East and Europe which they hold their citizens important in South Africa while Africans must be killed in any manner. Dude, you better f**k of this forum. It is not South Africa's.

looool stop crying south Africa is not a giant of Africa because of the population but its a powerhouse of Africa in everything!!! Yes in everything.

all4naija:
More than 30 countries and the bulk of that should possibly be in Africa. We expect other nations to follow suit. You have forgotten that other African nations are already taking drastic measures against South Africa and their companies. You unreasonable human being.

lolest you stereotype's to much nairaland, those fo*ls make stories and you believe them....it shows how f00lish you are!!!

14:
Sorry, you say Nigerians are being killed. Tell me how many Nigerians have been killed.

As usual, too much noise no actions.

Xenophobia is over, nigerians are still making noise while people in SA are going by their daily lives.

You have bigger issues at home to tackle than to waste yo energy to a non issue.

10 000likes

all4naija:
I say boycott the loudmouth MNT of South Africa!

lolest 0likes!!!

Bollinger:
You know the easiest way to identify an unemployed Nairalander with no future prospects? He/she is the one who often clamours for death and destruction of life and especially property the most. If they can't have it then nobody should.

3000likes

PDPwayoo:
Imagine, MTN have only 6,000 Nigerian employees; with all the money they make from us. Gooooooooo, other network will expand and employ more than 10,000 new workers.

i.d.I.o.t.........!!!! 6000 that's the direct employment of MTN and 500 000 is been outsourced its not direct employment of MTN but their part of MTN.......its like hiring other companies to perform certain service as part of empowerment of other businesses.

Sweetguy25:
MTN and other south african companies have condemned the events occurring in their country, I see no reason why we should cry more than the bereaved. Nigerian and Indian companies pay worse than MTN. Also, MTN makes a lot of money from Nigeria because of their highly effective business model. There's no point in showing them who's boss or whatever, that unreasonable and it should only happen on events that were caused by MTN.

3000likes

Firefire:
MTN, can you please keep your job loss warning.

Nigerians are not barbaric, we have no plans of attacking MTN facilities anywhere on our soil.


But we are sending our strong warnings to South African government to take a decisive action against the senseless action of your vampires, no country has monopoly of violence.

Let MTN Nigeria pass the message across in strong terms.

I came across a topic called GIVE SOUTH AFRICANS A BREAK NIGERIANS ARE WORSE.........some Nigerians told nothing but the truth about the Nigerians....so cut the act of judging!!!

braine:
[color=teal] Very true. They say, when going for revenge, dig two graves. Nigerians wouldn't even do anything sha. The best is for FG to nationalize the company.. [/color]

you should be an i.d.i.o.t....... the're something called the good and bad image of an organisation......nationalising a foreign company, where would that put the image of Nigerian government......what other foreign companies would thing about Nigeria...?

shachris03:
na just mouth dem dey make sha. If we lose the jobs, you lose your company. you can't threaten us on our own soil.

don't be a fo*l MTN operates in more than 30 countries, so you must know MTN closing in Nigeria won't harm their business....it will only put 500 600 Nigerian employees on hunger.

chuna1985:
Nigeria is 10 times better than most African countries, only a few are better than us.

yah by population

datone:
We are busy tweeting with Mtn and watching xenophobia on our brother on dstv. Na wa oo. I just hope those Boko Haram boys drop bombs on Mtn and DSTV and Shoprite headquarters in naija i think by then they will understand what it feels like . Do me I do you . Then they will know who have the best monopoly of violence in Africa whether na South Africa strong pass us or na we strong pass for Africa..

so that those bombs can kill Nigerian works in those entities.....you should learn to think.....did you think about the jobs of the Nigerians that are working on those business or after the bombings will you support the families of the workers.......please don't be an I.d.I.o.t!

all4naija:
I have always wanted the Nigerian army to invade Townships for good.

ninganya amasimba......that's were you will see how shameless south Africa is....ukhuluma imdidi nje!!