Buhari deserves to be in jail


And his zombies that chanted him in 2019 deserve to be lined up and shot in the head

😂

orion7:
Buhari deserves to be in jail


And his zombies that chanted him in 2019 deserve to be lined up and shot in the head

Immediately after your father is hung publicly

Why do some Nigerians feel credit is a bad thing

You are one of the problems we are having in Nigeria.


France former President Jacques Chirac went to prison and Nicolas Sarcozi is following suit soon.


I pity Nigeria. So unfortunate !

jahsharon:


Immediately after your father is hung publicly

solmusdesigns:
Why do some Nigerians feel credit is a bad thing

I am glad you put this out...
Please allow me to explain as simply as possible why to Nigeria, debt is "a bad thing" especially now.

If Nigeria had fully functional industries(a diversified economy)that brought in tangible export profit regularly, then debt becomes "a good thing" why? Because "the borrowers"(which could be investors) will see less risk associated with borrowing you, and they will always be willing to borrow you. That ease in which one can access external funds now determines the fluidity of the economy.

But in the case where there is no industry with viable export profit other than oil(which is not a stable commodity), debt becomes a very bad thing, because borrowers will now see the risk involved with borrowing money to you. Therefore that difficulty in accessing external funds now contributes to the stiffening of the Economy, which results to inflation amongst others.


So for now in the absence of a diversified Economy, debt is a very bad thing. Because no matter how common wealth is created internally, external market forces will create inflation.

optimusprime2:


I am glad you put this out...
Please allow me to explain as simply as possible why to Nigeria, debt is "a bad thing" especially now.

If Nigeria had fully functional industries(a diversified economy)that brought in tangible export profit regularly, then debt becomes "a good thing" why? Because "the borrowers"(which could be investors) will see less risk associated with borrowing you, and they will always be willing to borrow you. That ease in which one can access external funds now determines the fluidity of the economy.

But in the case where there is no industry with viable export profit other than oil(which is not a stable commodity), debt becomes a very bad thing, because borrowers will now see the risk involved with borrowing money to you. Therefore that difficulty in accessing external funds now contributes to the stiffening of the Economy, which results to inflation amongst others.


So for now in the absence of a diversified Economy, debt is a very bad thing. Because no matter how common wealth is created internally, external market forces will create inflation.

I do understand your point... But for industry to spring up we need significant Investment on infrastructure especially Power , Rail and Road and If China can give us a long term loan through EXIM bank or our own AFDB or IMF at single digit over 2 decades I don't see it as a bad choice

solmusdesigns:



I do understand your point... But for industry to spring up we need significant Investment on infrastructure especially Power , Rail and Road and If China can give us a long term loan through EXIM bank or our own AFDB or IMF at single digit over 2 decades I don't see it as a bad choice

Thank you for that very good point sir.

Now with the risk that has risen up to incredible levels due to debt, a stiff forex market and the insecure Naira, who will invest without slicing a pound of flesh?

Because at the moment almost all industries in Nigeria are crippled.

also understand that dealing with China, is like dealing with Shylock. If one is still trying to rejuvenate his industrial sectors, the last thing he would want, is to strike investment deals with China.

It would make sense if bilateral trade treaties are formed with countries of similar Economic brawn, then from there it could kickstart larger trade agreements with other global powers.

For example there is BRICS, they are all similar Economically, why can't Nigeria Foster trade partnerships with countries of similar Economic potential like Mexico, Indonesia & Turkey.

In that way massive debts can be eased by trade relations without damaging the economy.

For now debt is just a one way street.