NewStats: 3,263,950 , 8,182,046 topics. Date: Monday, 09 June 2025 at 12:26 AM 70b62

forgiveness:
They are just borrowing money but I hope it's used judiciously for the purpose.

What happened to the $24 billion that Buhari borrowed?


Nigeria is finished. Tinubu has figured out that there is no foreign investment coming into the country. The oil export has been mortgaged to the hilt. So he has to borrow to fund consumption.

Celestialsword:
They are using these loans to the naira from dipping.while neglecting critical sectors of the economy.

If I may ask,where is money from the subsidy removal and proceeds from increased taxes on Nigerians

The padding of the naira is consuming majority of the fund

The Nigeria economy is on a life .

Nigeria's economy has always been on life . With oil exports returns barely $20 billion per annum, the government can barely function.

sulaak:


Nigeria's economy has always been on life . With oil exports returns barely $20 billion per annum, the government can barely function.

the govt can barely function and this guys are living a flashy lifestyle. Tinubu is giving millions to governors and politicians.

Let stop deceiving ourselves. Even if oil export us at $10 Nigeria can still function. It is to minimize the excess spending.

Who's giving us a 65 billion euro GRANT? Sani Abacha?

Dangote's largest single train Refinery in the world was built with $19 Billion dollars. And this government is borrowing $20Billion dollars that there will be nothing to show for it last last. It's well, they should continue.

forgiveness:
They are just borrowing money but I hope it's used judiciously for the purpose.

How can yoiu hope for that when the loans borrowed in Lagos for the past 26 years have failed to yield any improvement in basic government services like free education for all children, and common utilities like water supply to all households?

What change did we see in the eight years of Buhari's APC shege that was packaged as change with more loans to loot by the progreThief leaders looters of integriThief ?

Stop confusing judicious with corruption. They are not the same thing please!

socialmediaman:
The 2018 Rating by Transparency International placed Nigeria at 148th position out of 180 countries. Nigeria was improving over the years under the previous government, until Buhari got elected as president, things became worse.

There is a difference between fact and fiction. We need to face facts, Buhari is worse than GEJ when it comes to fighting corruption, at least that’s what the facts prove.

Most of us believed there was corruption under Goodluck Jonathan’s Government. I agree with those who did, there was corruption, but not as bad as it is today under Mohammadu Buhari.

In 2012, Nigeria was placed at 139th position, In 2014, Nigeria gained 3 steps and was placed at 136th position. Under Buhari, Nigeria has lost many positions down to 148th.

There’s no further proof needed that corruption has worsened under Buhari’s government compared to previous years.

http://saharareporters.com/2018/02/21/transparency-international-ranks-nigeria-148th-worlds-least-corrupt-country

ncdegreat:
Dangote's largest single train Refinery in the world was built with $19 Billion dollars. And this government is borrowing $20Billion dollars that there will be nothing to show for it last last. It's well, they should continue.

They should continue because your own SInator and representaThief will approve it for their own share and give a few crumbs to the politically illiterate folks who ensure they occupy public office in the legislative branch of the federal government for oversight functions

anonimi:
“The worst illiterate is the political illiterate, he doesn’t hear, doesn’t speak, nor participates in the political events.

He doesn’t know the cost of life, the price of the bean, of the fish, of the flour, of the rent, of the shoes and of the medicine, all depends on political decisions. The political illiterate is so stupid that he is proud and swells his chest saying that he hates politics.

The slowpoke doesn’t know that, from his political ignorance is born the prostitute, the abandoned child, and the worst thieves of all, the bad politician, corrupted and flunky of the national and multinational companies.”

― Bertolt Brecht

delkuf:
the govt can barely function and this guys are living a flashy lifestyle. Tinubu is giving millions to governors and politicians.

Let stop deceiving ourselves. Even if oil export us at $10 Nigeria can still function. It is to minimize the excess spending.

Ebilokan is also enabled by your own SInator and representaThief's approval of more taxes from us in addition to subsidy removal and loans to get themselves more luxury.

How will you address this part of the equation

chisomkachy:
Nigerian President Bola Tinubu’s first supplementary budget includes a fleet of SUVs for himself and his wife, a presidential yacht and the renovation of his villa amid a cost-of-living crisis for some of the poorest people in the world.

The proposal — which seeks additional funding beyond the annual budget approved by Tinubu’s predecessor — comes as the government asks Nigerians to persevere through pain caused in part by a raft of economic reforms ushered in by the new president. Africa’s most populous country faces rampant unemployment, soaring food prices and a plummeting currency.

Federal lawmakers approved the president’s request for extra spending on Thursday, but eliminated the provision of 5 billion naira ($6.01 million) to buy a presidential yacht. Instead, they doubled the allocation to a student loan fund to 10 billion naira, according Abubakar Bichi, chairman of an appropriations committee in the House of Representatives.

The lawmakers approved 1.5 billion-naira proposed to purchase SUVs for the office of First Lady Oluremi Tinubu — an amount larger than that allocated to many individual federal colleges. The supplementary budget also proposes almost 6 billion naira to purchase SUVs for the presidency — more than the amount initially allocated to fund a student loan program for poor families.


https://www.bloomberg.com/news/articles/2023-11-02/nigeria-budgets-for-suvs-and-yachts-amid-economic-hardship

delkuf:
the govt can barely function and this guys are living a flashy lifestyle. Tinubu is giving millions to governors and politicians.

Let stop deceiving ourselves. Even if oil export us at $10 Nigeria can still function. It is to minimize the excess spending.

How will Nigeria its existing debt of $10 for oil export? I don't need to highlight the hopelessness of Nigeria's political class, which is a well-known subject.

We need to remove emotion from politics and take on corrupt politicians directly

DiamondsAreFore:

https://www.bloomberg.com/news/articles/2025-05-27/nigeria-s-tinubu-seeks-nod-for--24-billion-external-loan-plan




https://saharareporters.com/2025/05/27/tinubu-seeks-national-assembly-approval-215billion-loan-n758billion-bond-amid#google_vignette

Tinubu will not borrow a dime----Wale Edun
Tinubu has paid all loans---- lFG.
Tinubu saves billions from subsidy. ----APC.


Tinubu ask NA approval to borrow billions.
Economy. Negative
Infrastructure-- negative
Foreign Ex,--- negative
Refinerys--- negative
Tinubu Re- election 2027, --- Positive. Hurray!!!!!!.

President Borrow-and-loot

Good.
He is paying the debts even the ones he met on ground.
Even Keir Starmer,Trump etc are borrowing money.
Serious nations and govts will always borrow and pay as much as possible but they should use the money for laudable projects not loot.
We all know that President Tinubu has 4 legacy projects and numerous projects all over the 6 geo political zones of Nigeria.
There had never been projects being executed simultaneously all over Nigeria the way they are in this dispensation.
He should have borrowed up to 50 billion dollars in order to quicken the growth of Nigeria and Nigerians.

Subsidy remover, Hmmmm. I want to Announced here that Nigeria is set to give LOAN to other Country like Burkina Faso, Ghana, Senegal, Zambia and others, Election is in 2027 not 2026 House of Senate and their cohort.

Borrow and loot.
Nigeria never seen anything yet from Tinubu.

Gotocourt:
Tinubu is after our life

^^^

forgiveness:
They are just borrowing money but I hope it's used judiciously for the purpose.

Have you ever seen any past president borrow money and use it for the said purpose? That money will disappear immediately its release.

Ritchiee:
Good.
He is paying the debts even the ones he met on ground.
Even Keir Starmer,Trump etc are borrowing money.
Serious nations and govts will always borrow and pay as much as possible but they should use the money for laudable projects not loot.
We all know that President Tinubu has 4 legacy projects and numerous projects all over the 6 geo political zones of Nigeria.
There had never been projects being executed simultaneously all over Nigeria the way they are in this dispensation.
He should have borrowed up to 50 billion dollars in order to quicken the growth of Nigeria and Nigerians.

You sound educated but where is all the saved billions from subsidy?

forgiveness:
They are just borrowing money but I hope it's used judiciously for the purpose.

For importing and consuming

The good people of Nigeria are still sleeping while the few thieves plunging their collective wealth.
Another debt of 20b dollars loading on top of already debt suffocated economy.
My people!! The time to wake up is now or never.

I'm truly disheartened by President Tinubu's request for another massive loan. $21.5 billion externally and ₦758 billion domestically, on top of our existing ₦144.6 trillion debt?

This isn't just a loan; it's a mortgage on our future. We keep hearing about funding critical sectors, but where is the ability for previous borrowings?

This strategy of perpetual borrowing is not a sustainable solution and will only push the nation deeper into financial crisis. We need fiscal discipline, not more debt.

forgiveness:
They are just borrowing money but I hope it's used judiciously for the purpose.

which hope are you hoping?

Ritchiee:
Good.
He is paying the debts even the ones he met on ground.
Even Keir Starmer,Trump etc are borrowing money.
Serious nations and govts will always borrow and pay as much as possible but they should use the money for laudable projects not loot.
We all know that President Tinubu has 4 legacy projects and numerous projects all over the 6 geo political zones of Nigeria.
There had never been projects being executed simultaneously all over Nigeria the way they are in this dispensation.
He should have borrowed up to 50 billion dollars in order to quicken the growth of Nigeria and Nigerians.

what has tinubu done with all the monies he has borrowed?

what is he borrowing for? I thought he was saving money from fuel subsidy?

what happened to all that money?

what is a "legacy project"?

what is the purpose of a "legacy project"?

what are the 4 "legacy projects"?

what are the "numerous projects all over the 6 geo political zones of Nigeria"?

if you say "He should have borrowed up to 50 billion dollars in order to quicken the growth of Nigeria and Nigerians", how much growth of nigeria and nigerians has been achieved?

sulaak:


What happened to the $24 billion that Buhari borrowed?


Nigeria is finished. Tinubu has figured out that there is no foreign investment coming into the country. The oil export has been mortgaged to the hilt. So he has to borrow to fund consumption.

I think a chunk of it being planned for his re-election spendings. These guys could be selfish and heartless.

Some of it could be allocated to the so called "Lagos / Calabar highway project". Which is also a milking scheme between him and the contractor.

Remaining funds will be for their usual revolving expenditures.

God have mercy, $144 trillion ? whaaaat!

Godfullsam:
This is better no true.

Why was subsidy removed and naira floated in the first place?

Thought it's for the government to be able to raise money and finance critical projects.

If so, why are they still borrowing money? This balablu government seems to have borrowed more money in less than 2 years more than the previous istration.

Some of you still ing this government, you people will not make heaven o.

Lol....you yourself don make heaven 😂😂

abiodunbright:



You sound educated but where is all the saved billions from subsidy?

In Nigeria, the federal government and the states share revenue through the Federation Allocation Committee (FAAC). The current revenue sharing formula allocates 52.68% to the FG, 26.68% to the states, and 20.60% to local governments. Additionally, oil-producing states receive a 13% derivation fund.

Now all FAAC allocations to governors etc have tripled.They are paying their debts and borrowing none or less.Most of them are executing projects right,left and centre without borrowing.

No ASUU strike and all other strikes that have become a culture in Nigeria.

Tinubu himself had borrowed 9.9 billion dollars since his coming and he has paid back more than 12 billion dollars of Nigeria's debt.

Borrowing is not bad if only they would use it for production or infrastructures and not looted.

Ritchiee:


In Nigeria, the federal government and the states share revenue through the Federation Allocation Committee (FAAC). The current revenue sharing formula allocates 52.68% to the FG, 26.68% to the states, and 20.60% to local governments. Additionally, oil-producing states receive a 13% derivation fund.

Now all FAAC allocations to governors etc have tripled.They are paying their debts and borrowing none or less.Most of them are executing projects right,left and centre without borrowing.

No ASUU strike and all other strikes that have become a culture in Nigeria.

Tinubu himself had borrowed 9.9 billion dollars since his coming and he has paid back more than 12 billion dollars of Nigeria's debt.

Borrowing is not bad if only they would use it for production or infrastructures and not looted.

Your last statement is what we all know is common, none of them is working for the interest of the masses. The rate at which all politicians are looting funds will amaze you later when the story comes up. it has always been business as usual.

sulaak:


How will Nigeria its existing debt of $10 for oil export? I don't need to highlight the hopelessness of Nigeria's political class, which is a well-known subject.

We need to remove emotion from politics and take on corrupt politicians directly

this is not emotion. Nigeria can can cater for itself no matter the situation, all we need do is to cut the expense of governance.

We miss manage money alot. Especially this tinubu regime.