Topic: Borrowing without investment to regenerate the fund (Read 76 times)

Me.. I dey ur side, I agree wetin you talk, na only God wey dey see everything both in secret na e just know wetin them dey use the money wey them borrow for, because even before this our current president enter sit, plenty money wey our previous president dem borrow wey they no fit pay, tinibu say na e go pay am back because e get money, na e make why almost everybody vote for am, so that e fit help us pay our debt but now reverse is the case, who even know whether e dey plan to still borrow, to still dey increase the debt and make we no surprise say e go still keep am for the another president, if e comot for sit now and yet, things go just dey as e dey, no improvement of anything like Job opportunities, good security management etc

As you said the money collected by our leaders were to carry out some specific projects and at the initial time they really mean am but when the money enter the leaders hand then, National House Assembly would definitely collect there share and the president go collect him part. And when the money reach the contractor hand e don matiate and him no go fit use am do di work well so him go just do small work and leave. Then di debt go dey compile in the country.

Op you have to know some secrets in politics. There are times Nigerian government e no want to borrow but IMF and World Bank imposed on them and we have seen most of the projects for that. Example: Universal Basic Education was a World Bank Loan imposed to Nigerian government and di project collapsed. And the project was to divide Nigerian education into two sections but it was not stand fit to with stand with di educational curriculum activities so it failed. And other projects like that.

Nigeria is fail country because the necessary needs of the citizens are not available for them to use. The borrowing is to enrich themselves and not to do any investment for the people. Upon all the borrowing in di country South East Road is still incompleted for about 30 years.. or even more than. Look at the Ajekuta Steel Project. Just small billions to complete it but they can't buy our debt profile is reading trillions of naira.

Permit me to say that the Nigerian government has no reason whatsoever to run into trillions of naira borrowings they have incurred today because most of those loans cannot be justified and the repayment of those loans have always been affecting the stability of our economy till date

First and foremost, as a country endowed with much deposit of mineral resources in Gold, Lithium, Iron Ore and so many more, together with a blessed fertile land for faming activities, I wonder why Nigeria cannot yet feed itself but still go ahead to loan money for recurrent expenses. This can only happen in a country with a poor political leadership.

Many corrupt people and practices have stagnated our economy allowing us to run into shortfalls and debts amidst the ambitious projects and forecasting made towards the expectations of the government. Most of this ambitious forecasts do not come into reality simply because the leaders have left open gaps for corrupt practices such as Oil theft, fuel scarcity, banditary and other forms of terrorism.

We've talked about many of these things and suggested solutions towards them, but the reality still remains the same that the government should focus on their path towards sustainable development and anti-corruption

You have said well... And it's a disgrace for them to use our sake to borrow money when we are not even benefitting from it, which is very bad but I keep wondering what they really said that will make them to keep borrowing them money when they haven't paid back, and we keep having a bad government who doesn't care about the interest of his people but they are busy building mansions for themselves, giving their children the best education but they are not doing anything for the country to develop like creating job opportunities, building new roads and others, and the funny part is that, they do things that will keep increasing corruption in the country meanwhile their families are not in the same country with us to suffer, but we don't have that idea to notice they are just using us. So instead of falling into their trap, let's come together to build our nation and disagree against any illegal way of voting the wrong leaders in power.

I wonder why the government keeps on borrowing money all in the name of funding projects and paying workers but yet have not proffered any means of paying back those funds they borrowed. Since I was little till now that I am grown up I have always been hearing about the government borrowing money from world Bank and China but I have never heard any day that they have made steps to repay back those funds and that is how different government have been engaging in this borrowing of money to fund projects and other things to keep the country running i begin to imagine what they are doing with the internally generated revenues across the country, it is a shame our government have failed.

No be say I support the wey our government dey borrow o. But I think I go clear you say the reason why those countries dey approve the loan for the Nigerian government be say even those countries dey also benefit from Nigeria in one way or the other. Most oil companies and other big big companies wey dey this country nah only God nai know how much of money wey them done pack comot even before now.
However, even if say government borrow money dey invest e no still dey proper because no investment dey guarantee for this life, both Bitcoin, real estate, gold or any other things wey you know of. And again, I no sure say both me and you know watin these governments and em pipo dey use this money wey them dey borrow do.

Governments, organizations, companies and individuals de borrow money for projects wey go yield dem more money and to better dem lives, so dat from revenue or income wey dem de get from di borrowed money, dem go pay am back. But di problem for a country like our own be say dem go collect loan to pay salary or put am for where no go fit to generate income to repay the loans. Sometimes dem go collect loan for one project, but di money go end up for anoda place, dem go embezzle everything.

Corruption na our biggest problem for dis country, dem go borrow money, share am finish, afterall no be dem personal loan, na government borrow di money, dat na why we de always hear every new administration wey enter power, go de lament say na huge dept dem inherit from di outgoing administration. Dem too go embezzle dem own and leave di responsibilities of repayment to di next administration, if no foreign banks gree give dem again, na to begin to look inward to borrow from local financial institutions. I no support dis borrowing from pension funds, because na ordinary Nigerians last hope for retirement, any mismanagement of dem funds na wickedness of di highest order be dat.

My country people this discussion I felt it's necessary as it purely in concerned with us to be discussed here instead of politics forum, though stand to be corrected if need be one can't still post it in politics. It's no longer news on the borrowing nature of our leaders or government where the citizens are been deceive on the purpose to which they borrow which they tide down to infrastructure, as foreign debt has risen beyond control where many western and foreign investors are afraid of borrowing or investing in our nation do to unstable economy and inflation rising and our currency have no value. This has not serve as lesson for our government or leaders to correct the error of borrowing without investment on what the borrowing is made for, now that the foreign debt has gone beyond to borrow, and investors are also afraid they have turned to borrowing of pension fund kept for workers , for the same purpose of infrastructure this Link https://www.thecable.ng/fg-to-deploy-n20trn-pension-fund-for-infrastructure-development/amp/
My question looking at this news and the state of the nation where nothing is working such as refinery and others infrastructural development that generate fund for the nation, is not working will there be government again as foreign debt, pensioners labour without means of paying back.