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Atiku Slams Tinubu, Says Loan Burden Crushing Nigeria’s Economy (4823 Views)
anonimi: 11:39am On Nov 22, 2024 |
TheRealestGuy: They say a fool at 40 is called Pandora Bitter Obi with his headless mob of fellow hypocrites. That is what they say. Enjoy. ![]() bennybuhari: 1 Like 1 Share |
ozo13(m): 11:42am On Nov 22, 2024 |
ufotunang:maigida he will definitely borrow.Nigeria is broke and that is the simple truth.how much are we realizing from oil sales,VAT .and u thing such a small can take care of 200million + citizens. Politics aside Atiku will borrow . If Obi win 2027 election, he to will borrow or he will heavily tax the citizens.Even If he cuts down cost of governance it will just reduce the borrowing.but for Atiku he will definitely borrow except he is ready to increase tax |
seguntijan(m): 12:06pm On Nov 22, 2024 |
Again, this is Atiku clearly punching above his intellectual weight. Perhaps, Mr Atiku should only avail his thoughts on matters he has the requisite knowledge on. Nigeria’s indebtedness is still within normal limit. At 42% external debt to total debt ratio, our foreign exposure is still within limit when compared to other African countries. Secondly, IDA debts are tied to development projects and released in stages after the objectives are met. These are usually not debt for consumption. The long term effect is improved productivity. Thirdly, the loans from IDA have favorable compared to other loans. They have concessionary interest rate and longer moratorium period. The statement -“Tinubu boasted that the @FIRSNigeria and @CustomsNG under his watch had collected all-time high revenues to finance the Budget. Why are they still borrowing?”, reflects poorly on a presidential candidate. Long term debts are recognized as a standardized way of financing infrastructural development regardless of revenue. That a former VP and presidential candidate must be told this only reminds Nigerians why he has been serially rejected and reinforces the need to reject him once more. Thank you. |
ablejesus26(m): 12:07pm On Nov 22, 2024 |
blacknp: Senselessness at its peak😁😁. Your next dumb post will be to say some are making it. We are not addressing the issue on a personal basis, We are addressing how this failure personified called T-pain don scatter everywhere with him cluelessness😁😁. Jobless urchins must se Yes to a full scale failure of a govt bcus they must zombie till they fall ;😁😁😁😁 1 Like |
Wesely01(m): 12:35pm On Nov 22, 2024 |
I'm not a fan of any NIgerian useless politician but I just want you to know that TPain President Ahmed BOla Tinubu spent 1 year of his istration borrowing money for himself,families and friends. Definitely not for the growth of Nigerians. AustineE1: |
frog12: 12:52pm On Nov 22, 2024 |
dis people no shout when buhari was there ![]() |
honesttalk21: 1:01pm On Nov 22, 2024 |
Kukutente23: It's understandable you want explicit detail on how this will be used but you shouldn't deny the $2.2 billion loan is a strategic move by Nigeria’s government to manage its budget deficit effectively while ensuring that essential projects continue to receive funding amidst challenging economic conditions. There definitely are questions at how the lower exchange rate is derived but isn't this good that we are using less naira to the dollar? It raises questions too unless there are definite expenditure that will be paid for in dollars. 1 Like 1 Share |
blackboy(m): 2:15pm On Nov 22, 2024 |
If he was president will he not have borrowed? I don't see any government not borrowing even Peter Obi if he was president but my own is how is the loan used? 50% or less or even more shall be embezzled. That is where my problem comes with collecting the loans
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Kukutente23: 2:53pm On Nov 22, 2024 |
honesttalk21:What is strategic about borrowing? What about cutting down on wasteful spending? The lower exchange rate ensures that less of the money is reflected in the economy. Probably will be kept aside to be used to offset foreign expenditures such as all these their travellings |
zumbigbo(m): 4:19pm On Nov 22, 2024 |
Omonile economic management ![]() |
Tzar(m): 4:28pm On Nov 22, 2024 |
Amongst all the extremly corrupt politicians, Atiku is the most stale and desperate. I don’t take him serious.
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babamoha(m): 5:31pm On Nov 22, 2024 |
But can't they present budget on what they make instead of borrowing money to balance the And the most painful part is that majority of the proposed budget funds will be embezzled by the government and their cronies. |
honesttalk21: 5:36pm On Nov 22, 2024 |
Kukutente23: Perhaps not strategic however there's a shortfall in expected revenue inflow based on the original budget perhaps lower barrels of crude oil produced etc.? Countries can secure loans at more favorable local currency values compared to dollar exchange rates through several methods, including central bank interventions, bilateral agreements, loans from international financial institutions, enhanced credit ratings, and the maintenance of stable currency regimes. The thing is to identify which expenses have been made beyond the approved budget and which of these were previously identified as wasteful in the budget at the onset. |
Kukutente23: 5:39pm On Nov 22, 2024 |
honesttalk21:You still don't understand do you? If the loan is approved at N800 to $1, that means less dollar will be required to reach the N1.7trillion based on the present exchange rate in the market. What now happens to the remaining dollars? Conversely, if the N800 to $1 is used to liquidate the loan fully, that implies that CBN used a fixed exchange rate to liquidate the dollar to naira. Who is paying for the shortfall? You see the confusion now? |
ufotunang: 5:49pm On Nov 22, 2024 |
ozo13:..I know that Atiku will borrow...but not the way Tinubu is borrowing everyday and every minute |
ozo13(m): 7:09pm On Nov 22, 2024 |
ufotunang:the borrowing is meant for 2024 budget deficits else where are they going to generate money from for the budget deficit.uts either to borrow or tax us the more |
Deepspirituals: 7:54pm On Nov 22, 2024 |
helinues:Just the Way Your Gbajue Jagaban have been deceiving Nigerians and making People. suffer more |
honesttalk21: 8:40pm On Nov 22, 2024 |
Kukutente23: Ok. That's a good way to look at it. Then we should also consider that about 3.74 trillion is generated as against 1.7 so you could write a petition to question this or go through FOIA |
Kukutente23: 9:25pm On Nov 22, 2024 |
honesttalk21:That will be after the loan is obtained 1 Like |
ufotunang: 9:51pm On Nov 22, 2024 |
ozo13:..is it not Tinubu that told nigerians that the money they will realize and get from fuel subsidy removal will be used to fund the budget... even the money he gets out from fuel subsidy removal..they have not told nigerians what they have done with the money and how much they have realsed and gotten so far |
Wiseman2y(m): 10:14pm On Nov 22, 2024 |
Atuero:you are not wise man dude. The fact that tinubu is bad as a president doesn't stipulate that all Yoruba people are bad. What can you say about the great general Obasanjo? |
ozo13(m): 6:43am On Nov 23, 2024 |
ufotunang:hahahah.u know they need to pay loan too running into billion dollars every year and somehow I think that is what they are using the said money to codedly do.Nigeria is obviously broke with the resources at our disposal. We can only cut down our spendings as much as possible and also reduce corruption (which an average person from top to bottom isn't ready to do because it's all about them and want to capitalize on the opportunity they have) Imagine Nigeria could boost of 2 to 2.5M barrel per day at a point in Jonathan govt but where are we today. May be 1.5M barrel per day and in most case it's 1.2 - 1.4M and that is our major source of income.imagine 1.5M barrel per day for a citizen of over 200M. We gats sit ourselves down and design a road map on how to solve our multiple problem ooo else na to Japa go make small money be the only way for ordinary citizens for now. The country isn't smiling now. |
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