The Senate today Saturday, December 30, approved President Bola Tinubu’s request to borrow $7.8billion and €100 million as part of the 2022- 2024 borrowing plan of the federal government.

The resolutions of the Senate followed its consideration and adoption the report of its committee on Local and Foreign Debt during its special plenary. President Tinubu had said that the Federal Executive Council under former President Muhammadu Buhari approved the loan facility on May 15, 2023 to finance infrastructure, health, education, agriculture, insecurity and other sectors.

He further explained that the foreign loan has become necessary to bridge the financial gap and return the economic activities of the country to normalcy.

The funds, he said, would be used to develop infrastructure, agriculture, health, education, water supply, security and employment as well as financial management reforms.

#Repost @lindaikejiblogofficial

Provided the borrowing will bring an end to "Ebi pa wa ooo"!

Borrow and squander , give small change to propagandist, Naira dips further, turn around and blame anything in sight and repeat the upper year.

We are the ones that are going to repay these loans and we should resist them.
These polithiefcians collect loan to buy bullet proof cars and loot for themselves alone
Just few months to tinubu's inauguration,he passed a 2trillion Naira supplementary budget to buy cars for lawmakers who already have fleets of cars they diverted after leaving office.
He also gave his wife 1.5billion Naira to purchase cars for her (conduit pipe)first lady office.He bought a 5billion Naira yatcht for himself.
The supplementary budget he passed was a loan taken at our expenses o.
Meanwhile,Nigerians got nothing from it.
Was it not this same Tinubu that told Nigerians that with the removal of subsidy,his government will not seek further loan?Where do all the money generated from VAT,import duties,and other charges introduced by Buhari go to?Where does the money for the removal of subsidy goes to?

The borrowing continues.

The country has been duly "collateralled".

If you find a genuine way to a reasonable country even within the continent, you had better make the move. If for nothing at all, consider how old you'll be in the next 8 years while also thinking about your children (born and unborn).

By the middle of 2024, Dollar should be hitting and surpassing the 2k mark.

There are no 2 ways about this so long as this bambiala-to-loot style of governance perseveres.

He built dubai ... he tame the ocean...




Oya come and build Nigeria





What we see is

Tears sorrows and blood

Blackfire:
He built dubai ... he tame the ocean...




Oya come and build Nigeria





What we see is

Tears sorrows and blood

Rome wasn't built in a day. Besides, there has been increase in FDI, increase in Federal allocations to states & LGs.

kunle4toyeyaho:
Rome wasn't built in a day. Besides, there has been increase in FDI, increase in Federal allocations to states & LGs.

. Keep on defending mediocrity and be happy in slavery. It is a loan not Grant.
Question:-
Who‘s going to pay the loan, how and when?
Have previously collected loans been fully paid?

Give Nigeria to an Indian to manage as a company for just three months Nigeria will start to give loans to IMF and other African countries.

kunle4toyeyaho:
Rome wasn't built in a day. Besides, there has been increase in FDI, increase in Federal allocations to states & LGs.

Do you know what is devaluation of naira?
The more naira loses its value, the more increase in federal allocations to states.

kunle4toyeyaho:
Rome wasn't built in a day. Besides, there has been increase in FDI, increase in Federal allocations to states & LGs.

Increase in Foreign Direct Investment? Please quote me your source,let me read what I have been missing.

Good

Anybody that does not like it should swallow rat poison

Kunkle tunde fire u one million times for that comment sometimes I feel people on nairaland are really mad and insane. See how people are suffering, see the economy n ur here spilling rubbish. Thunder fire ur smelling mouth bastard

Baba druggie is not slowing down in his quest to further ruin this country