Topic: 2.2 billion dollar loan from world bank? Isn't this bad debt? (Read 78 times)

We are use to them giving us lofty reasons as to why they need loans, same thing happened during Buhari tenure. I tell you if 15% of that money will even be used to do what was listed there, we will see changes. But just like somebody said, the average Nigerian politician doesn't have anything to gain in a working Nigeria, so situation like these will always occur, where they will take loans to fix the same thing the previous administration said they have fixed.

I think these are the reasons for the loan:

if na to use the money take care of the agricultural sector be the reason why them borrow the money, then e de easy to fit refund am back as at when due but the problem be say all this stories about investing into the agric sector don too plenty and nothing really de come out of am.

Apart from the government doing agriculture in the large scale, if na like to still do all this agricultural schemes when be say them go train people then give them seeds to go plant, that kind thing for we people now na dead on arrival.  I no still see loan as the best option when we get now oh, e still de like a way of tying ourselves down for the next ten years. As a person, as long as you are owing people, you know you're bent to comform to most of the things that relates to them and if we they hope say a day go ever come when be say we go stabilize the economy, then we need learn how to work with wetin we get at hand and leave anything when get to do with loans..

When this administration finishes before the ten year period elapsed, the next one will come and might even deny ever knowing anything about this loan and will spend most of her resources settling loans only to take up another loan for the next administration to attempt sorting out. This is a bad circle that should be discouraged in it entirety.

If there's one thing this counties good at, it would be taking out loans and passing it on the next administration. The next administration resumes office and firstly tries as much to repay the debt and then runs the country into financial pitstops like mounting debts and then have to borrow again to clear out the backlog.
 
It's just like an endless cycle that is unavoidable by any new government in power, when it could have easily been another way, such as, the government stabilizing the countries economy by making home made products the preferred, putting a stop to Naira manipulation and development of infrastructure and schemes to aid the unemployed, among other reasonable initiatives that will alleviate the plight of the citizens.

They have just repaired some loans and borrowed loan again.

I think these are the reasons for the loan:


If they want to lessen food prices, they should open land borders and stop naira manipulation.

The federal government is set to take another loan from the world bank that's worth 2.2 billion dollars that's going to run for a period of 10 to 20 years with a 1% interest. Remember recently there was an increase in the local iMPR by 2% which is basically to discourage local borrowing from banks and then seeing consistent taking of loans from foreign organizations with little or nothing to show for as regards what it's used for, it begs the question, when will we ever come out of these debt?

I know taking loan from world bank with a 1% interest that's payable after ten years isn't a big deal if the money is actually invested into a meaningful project that will certainly give greater returns than the interest that's to be payed back, but if this loan is to be used in stabilizing the economy or used to sort out our local issues that's already on ground and not for meaningful project that will give us greater returns in the long run, then this borrowing is damn unnecessary.