THE RISKS OF NIGERIA'S RECENT LOAN.

[Bitco55]

So, Nigeria recently made negotiations with China's Exim Bank and requested a loan of $2 Billiion. This loan is apparently for the establishment of a super grid of which it's purpose is to link infrastructure transmission along the western and eastern industrial corridors. Many factories have left the national grid due to frequent outages. This loan would apparently enable us to have reliable electricity, reduced dependence on diesel generators, and improved load management.

The plan and motive may be great but if these funds from China or any other country/ foreign organizations are not managed properly, it'll lead to alot of disadvantages and downsides. Amongst them include, public distrust, wasted repayment, economic losses, unfinished/ uncompleted projects, more debts to pay, slower economic growth, compression of fiscal spaces and so on.

In conclusion, the success of the project for which the $2 Billion loan was acquired depends heavily on strong and realistic planning, transparency, proper engineering & maintenance of project factors, and community involvement. Anything outside these factors may put the whole country in debt

[rachael9385]

So, Nigeria recently made negotiations with China's Exim Bank and requested a loan of $2 Billiion. This loan is apparently for the establishment of a super grid of which it's purpose is to link infrastructure transmission along the western and eastern industrial corridors. Many factories have left the national grid due to frequent outages. This loan would apparently enable us to have reliable electricity, reduced dependence on diesel generators, and improved load management.

The plan and motive may be great but if these funds from China or any other country/ foreign organizations are not managed properly, it'll lead to alot of disadvantages and downsides. Amongst them include, public distrust, wasted repayment, economic losses, unfinished/ uncompleted projects, more debts to pay, slower economic growth, compression of fiscal spaces and so on.

In conclusion, the success of the project for which the $2 Billion loan was acquired depends heavily on strong and realistic planning, transparency, proper engineering & maintenance of project factors, and community involvement. Anything outside these factors may put the whole country in debt

You don't need to worry about that country being in debt because that's old news, Nigeria is already in a lot of debts, this just adds more to what we owe. The problem with all these projects they are embarking on is for them to actually utilize the funds meant for that specific purpose. I won't be surprised that this is just going to be for the news only and nothing will be done. After taking these funds from china the money will be syphoned again just like how they have been stealing previously. If they have been managing the loans they borrow from these countries Nigeria would have been In a better place but they are just thieves

[WhoYouCantKill]

This is entirely correct. The loan may help in the solving of power problems in Nigeria, yet its success relies on it's management. When the funds are transparently used and projects properly executed, it may boost the growth of industry and reduce reliance on the use of generators. Yet if corruption or lack of management enters, it becomes another obvious debt burden having small to show for it. Having proper oversight and accountability happens to be the best option here

[Agbe]

This is Nigeria for you were taking of loans is part of running the government, from what am seeing right now one of these days China will just come and take over part of our country as part of repayment because it's been from one loan to the other.from the other loans that,has been taken what has the the country been able to do with them. these are critical questions that we need to ask our self these loans shows that Nigeria has no future plans because no nation develops borrowing money with we should look inward as a country to our developmental challenges.

[Marvelockg]

In conclusion, the success of the project for which the $2 Billion loan was acquired depends heavily on strong and realistic planning, transparency, proper engineering & maintenance of project factors, and community involvement. Anything outside these factors may put the whole country in debt

In a country that has a lot of economist, we are still borrowing just to either consume or use It for project that will not generate greater revenue in the long run, does it appear like we are heading to somewhere good? People have lost hope in the ability of our leaders to use the loan they are taking to sort out good things and so, it does not matter if the plan is to use a borrowed some of money for one good thing or the other. At the end of the day, if chances is not taken, we might end up still wasting everything or politicians might end up embezzling everything and end up compounding more debt for generations yet unborn to come pay.

80% of the loans we've ever taken are completely unnecessary if you ask me but because china and most of these countries are gaining from these loans, they will continue to allow us borrow so we continue to remain under Thier control.

[BIT-BENDER]

The government are well aware of the risk of all the loan they are collecting, they aren't just blindly collecting the loan they know the risk and also know that they won't pay up when the time comes.
Nigeria has taking so many loans from China and we haven't yet seen what the loan did for us. But one question I haven't gotten an answer to is why does China keep approving the loan to Nigeria, this may be a case of China wanting Nigeria to be so much indebted to them that it becomes near impossible to pay back.

[DaNNy001]

Nigerian government and the constant loans they borrow from other countries..most of the loans they borrow are not being used for the development of the country..The leaders are the problem of the country, they are not after the progress of the country but they are after their own selfish benefits..with all these debts that country are always getting into what does the future hold for Nigeria if the government can't pay back

[Jubilee58]

So, Nigeria recently made negotiations with China's Exim Bank and requested a loan of $2 Billiion. This loan is apparently for the establishment of a super grid of which it's purpose is to link infrastructure transmission along the western and eastern industrial corridors. Many factories have left the national grid due to frequent outages. This loan would apparently enable us to have reliable electricity, reduced dependence on diesel generators, and improved load management.

The plan and motive may be great but if these funds from China or any other country/ foreign organizations are not managed properly, it'll lead to alot of disadvantages and downsides. Amongst them include, public distrust, wasted repayment, economic losses, unfinished/ uncompleted projects, more debts to pay, slower economic growth, compression of fiscal spaces and so on.

In conclusion, the success of the project for which the $2 Billion loan was acquired depends heavily on strong and realistic planning, transparency, proper engineering & maintenance of project factors, and community involvement. Anything outside these factors may put the whole country in debt

It is something very surprising to see that Nigeria government can not carry out any major project without borrowing of money, this is very bad of Nigeria.
Nigeria is a country that is blessed with so many mineral resources including crude oil, and our land is very much fertile for agriculture that we don't need to import food products before we can see food to eat, but is very unfortunate that because of bad governance, we are now living life like those nations that don't have much resources to really Carter for their nation.

Nigeria is a country that is very rich in crude oil production, and we are among the richest oil producing nations in the OPEC community , and we can not afford to fund major project without borrowing of money.
There are three refineries in Nigeria, and among these refineries no one is in full production, and when they borrow these money they can not achieve anything meaningful with the money they have borrowed.

Nigeria leaders are luxurious in nature, they earn fat salary , buy fleet of cars for themselves.
Today, their is a program call Abacha loot, this money is worth billions of dollars that General Sani Abacha loothed while he was the president of Nigeria, and up till now they are still discovering this money. This is what a single person has loothed from the country.
What Nigeria leaders do is to share the nations money among themselves, and make sure the countries treasury is empty, and they borrow more money to share among themselves for a country that has all it takes to become a developed nations. May God help us.

[coinlary]

Yeah the plans and motive seem great until nothing is done and the whole money vanishes in to thin hair. We will be expecting  a change what's  been proposed but don't  e,pect transparency  , there's  nothing like transparency in this Nigeria  government unless it will just begin.
I'm  very sure half of the money won't  go into what being made known to the public but let's wait and see how it turns out .
FYI, I hope you do know Nigeria is in a debt of N145T+ debt and still little to no progress were made.

[DYOR+BTC]

Nigerian government and the constant loans they borrow from other countries..most of the loans they borrow are not being used for the development of the country..The leaders are the problem of the country, they are not after the progress of the country but they are after their own selfish benefits..with all these debts that country are always getting into what does the future hold for Nigeria if the government can't pay back

Talking about the above mentioned statement consigning the use of the loan by Nigeria government, know doubt the purpose for those loans where genuine reasons as stated in his application letters but after receiving they in turn use it for different things making those loans not useful to the nation. So its clear must of those loans where taken for tangible reasons but not used for them but to enrich themselves leading to much accumulated loans and putting the country into much debt  with know developed structure for loan repayment already established. So the above stated reasons for loan I think it was different from why it was managed

[Stable090]

So, Nigeria recently made negotiations with China's Exim Bank and requested a loan of $2 Billiion. This loan is apparently for the establishment of a super grid of which it's purpose is to link infrastructure transmission along the western and eastern industrial corridors. Many factories have left the national grid due to frequent outages. This loan would apparently enable us to have reliable electricity, reduced dependence on diesel generators, and improved load management.

So naija wan go carry loan again, Omo dis one weak my body ooo. Our president just Dey carry loan anyhow, and at the end we no go even see Wetin him use d loan do. Tinubu Dey collect tax for our head, Abeg Wetin dem Dey use d tax so? Why him wan still go carry loan again.

@Op u Dey reason say d loan wey tinubu wan go carry na better thing, at least dem go use am fix the national grid wey Dey collapse anyhow, and we go start to Dey get stable electricity. How I wish say if dem carry the loan finish, dem go use am do Wetin dem suppose use am for, loan wey dem go carry finish now, u no go even sabi Wetin dem use d money do if dem carry d loan finish, and Wetin be d main reason wey make dem carry am, Dey no go still complete.

[DYOR+BTC]

Nigerian government and the constant loans they borrow from other countries..most of the loans they borrow are not being used for the development of the country..The leaders are the problem of the country, they are not after the progress of the country but they are after their own selfish benefits..with all these debts that country are always getting into what does the future hold for Nigeria if the government can't pay back

As for those loans they take claiming its for infrastructure, health care services, education and other related department all are just fallacy, those words are used for justifying there actions making embezzlement easy for them.  over 60 percent of the loans collected for the western organization claiming its for developmental purpose are not invested according to their request but to enrich themselves and there families.
The rate of loans taken by Nigerian government is so alarming that very soon they will face default challenge as Argentina is facing which is not a good record for a country blessed with such mineral resources as Nigeria

[POPOLUV]

This risks of Nigeria recent loan has been lead me to conclude on the previous speach that the president issues out on the independence day were he said that every Nigerian will be paying a serious task from 2026, he sounds as if we were not paying our task, and were the loans going will don't know because after all this loans things are just like the way they are and the country is not progressing at all, so many people are at the venture of leaving the country once they have the opportunity of leaving the country, people are really suffering that the government are thinking of collecting task on poor masses to see how to pay back the loan.