NewStats: 3,263,645 , 8,180,888 topics. Date: Saturday, 07 June 2025 at 02:52 AM h724g

The Minister of Information and Culture, Alhaji Lai Mohammed, has said President Muhammadu Buhari would negotiate for fresh loans with the Chinese government.

Mohammed also said the government must resort to borrowing, in order to finance the 2016 Budget, noting that government revenue had diminished drastically, owing to the fall of crude oil in the international market.

The president who is on a working visit to China is expected to attract more investors from China to Nigeria.

The minister who spoke yesterday evening on a current affair programme of Channels Television, Politics Today, noted that the borrowed funds would be deployed into capital projects, such as road, power and agriculture.

“Borrowing will be used for capital expenditure, government must borrow, if you look at the situation we are in. Crude which used to sell for over $100 per barrel, now sells for less than $40, and our overheads are the same, infrastructures are increasing and we have to maintain them,” the minister said.

When pointedly asked, if the government is currently serving any loan with Chinese government, the minister said the loans are long term loans which are serviced within a period of 30 to 40 years.

“When we talk about Nigeria’s debt profile, it is the borrowing from 1960, these loans are not short term loans, they are loans serviceable for a period of about 40 years,” he said.
Speaking on the lingering fuel scarcity rocking the nation, the minister promised that the ugly situation would subside, as he said 1,300 trucks loaded with petrol would discharge fuel at filling stations from today.

“We have been able to bring the situation back to normal, 1300 trucks will supply fuel all over Nigeria,” he said.

The minister however, urged Nigerians to exercise patience with the government, as he assured that the change Nigerians voted for would manifest eventually.
“The change Nigerians voted for is real, the challenges we are facing is temporal, the change will come,” the minister said.

www.thisdaylive.com/index.php/2016/04/11/lai-mohammed-president-will-negotiate-for-fresh-loan-in-china/

Why borrow again to fund the budget?
I tot we're told dat govt has recovered abt 3 trillion naira thro d TSA? can't dat money be used to fund d budget? or was it another propaganda from d stable of d APC??

OKDnigeria:
Why borrow again to fund the budget?
I tot we're told dat govt has recovered abt 3 trillion naira thro d TSA? can't dat money be used to fund d budget? or was it another propaganda from d stable of d APC??

my dear you have not seen anything yet. Wait until the traveler comes back with nothing. that is when you will hear the main story.

Lie nwa omo mumuhamed again? make I Sidon here this one go make FP.

Who do APC think they are fooling
What of all the money Buhari led Government claimed they recovered from looters and from various sectors of the Economy, why can't the money be used to fund the 2016 budget.
APC is a Scam, Zombies can quote me anywhere.
Buhari and his "Saint Ministers" with their entourage are using the China Trip to go flex themselves and also bleep(wire) some Chinese punanny( Oloshos)...i repeat Zombies can Quote me anywhere

Nigeria is sinking into debts! why have such a large budget when our income has dropped?

By 2019 I'm sure nigerians must have gotten their senses back especially the zombies

HIT THE GROUND RUNNING. Baba DAURA . NIG ONI BAJE oooooo

I said it b4 & will always say same thing tht Dasukigate was just a mere revenge & propaganda,,,,
how can a govt be going to borrow when he has recovered loot,over 3trillion in TSA ,& budget is over 6trillion.
why not avoid mortgaging my future & tht of the generation in 30-50 yrs time when pmb would have being dead & i will still be alive.why not cut ur budget to the size tht will accomodate the 3 trillion in TSA & the recovered loot,then avoid borrowing.

I said it b4 & will always say same thing tht Dasukigate was just a mere revenge & propaganda,,,,
how can a govt be going to borrow when he has recovered loot,over 3trillion in TSA ,& budget is over 6trillion.
why not avoid mortgaging my future & tht of the generation in 30-50 yrs time when pmb would have being dead & i will still be alive.why not cut ur budget to the size tht will accomodate the 3 trillion in TSA & the recovered loot,then avoid borrowing.
am already thinking IPOB coz i need a 'factory resetted govt',,,coz naija has expired & unrepaireable.

The maths doesn't add up when it comes to APC..... They shut down all the forex gates...... They open a few later...... They make leg shooting policies and reverse them in the middle of challenges.

Now how can a true economist borrow to run an extravagantly padded budget.......just like a father whose salary has been slashed down, will borrow or take a loan just mend his fence or paint his house.

Nigerians can generate the required money if you give them the enabling conditions to operate...... Stop borrowing to look good....... It's a false alarm

Hmmm

China go dey feel like one big oga for their mind now.
I once supervised a water treatment project handled by Chinese company for Lagos state government.
These guys don't know JACK. They packed their apprentices inside plane send them to Nigeria as expatriates. Can u imagine I caught them welding reinforcements head-to-head instead of lapping? And many other professional atrocities

Yet when they give our governments loans, they give us on the condition that we must give their companies the projects to handle. And if the project costs 20B, they charge us 42B and that we pay so so percentage before they release the balance. And the percentage will be equal to 20B! Hence Nigeria has been raped left right and center.

NB: No Chinese or Government person should call my line for this post. I am free to make my views known

Chai LIEnus mba is bn a while oh
Has ur probition expired

lai mohammed show me photos or adonblivit

Too many armchair economists on NL.

Liar "the leak mouth" Mohammed has finally spoken after a long time of losing his voice.

Loans?! At what conditions?
What of the arms purchase loan, I hope it will be repaid with recoveryy from armsgate.

opalu:
China go dey feel like one big oga for their mind now.
I once supervised a water treatment project handled by Chinese company for Lagos state government.
These guys don't know JACK. They packed their apprentices inside plane send them to Nigeria as expatriates. Can u imagine I caught them welding reinforcements head-to-head instead of lapping? And many other professional atrocities

Yet when they give our governments loans, they give us on the condition that we must give their companies the projects to handle. And if the project costs 20B, they charge us 42B and that we pay so so percentage before they release the balance. And the percentage will be equal to 20B! Hence Nigeria has been raped left right and center.

NB: No Chinese or Government person should call my line for this post. I am free to make my views known

Put Nigerians in charge of their own affairs n they will turn it into inter-regional competition.

opalu:
China go dey feel like one big oga for their mind now.
I once supervised a water treatment project handled by Chinese company for Lagos state government.
These guys don't know JACK. They packed their apprentices inside plane send them to Nigeria as expatriates. Can u imagine I caught them welding reinforcements head-to-head instead of lapping? And many other professional atrocities

Yet when they give our governments loans, they give us on the condition that we must give their companies the projects to handle. And if the project costs 20B, they charge us 42B and that we pay so so percentage before they release the balance. And the percentage will be equal to 20B! Hence Nigeria has been raped left right and center.

NB: No Chinese or Government person should call my line for this post. I am free to make my views known

Any update about the Europeans and Americans or are they saints from God ? NA dem no all ba?

its ok. Lets see how it all unfolds

In God , I trust.



In BUHARI , I see hope!



Thank you God!

An oil producing country taking loans from a non oil producing country.

Do you know how rich Nigeria is ??
One day dog go begin eat grass for Nigeria.

I don't know what is really wrong with Buhari, his actions or the economy of Nigeria do not affect me in any way because i live in far away USA but sometimes i weep for my dear beloved Nigeria, i wish these old fools will die so that the young blood/youths will make Nigeria great again

sai baba

Q

it been a while lai....

Choi! *in Falz voice* Hapc av scammt Hus ho. I regret ever ing apcshit

Loan again?

Good