Buhari's government has finally ruined Nigeria in less than 8 years in office, our monthly debt servicing is now more than our revenue... Very soon, Nigeria will declare bankruptcy.... soon, we will not be able to pay salaries again and our creditors will begin to take over our country. How can a country so blessed be this poor?
When Buhari's government was borrowing money for white elephant projects (projects that are not bringing return nor advancing our economy in a way to bolster the nation's revenue) and the likes of Fashola and Amaechi (who have allegedly become billionaires in dollars) were justifying the need to borrow to stupor, we told them they are selfish.
The corruption that ruined Nigeria is not just from the politicians alone, most of it comes from ordinary Nigerians - civil servants. Civil servants entrusted with the duties of administration have created artificial bottlenecks in order to fleece everyone they are supposed to serve including other parastatals - research institutes, universities, etc., pay to get their monthly subvention. They inflate and pad budgets, and you will never hear leftover budget being sent back to the ministry of finance in Nigeria, the money grow wings and fly away by the end of the year. You cannot do anything at the highest level in Nigeria without paying bribes. I have first-hand recent experiences.
Those in the presidency, executive arm, and legislature waste taxpayers' money on frivolous activities - unwarranted trips, flying the president's daughter to pictures in Bauchi from Abuja, the president's wife living in Dubai for months - most likely on taxpayer's back, travel abroad for training that can be facilitated at home, they and their family go abroad for medical treatments on taxpayers' back while they neglect our hospitals, their kids go to school abroad on corruption proceeds, their allowances are bogus. ASUU better call off their strike, Nigeria is broke.
... all this wasteful spendings create a government that cannot pay its bill. We said Jonathan's government was corrupt, but Buhari's government will go down in history as the most corrupt government ever since independence.
The nation is going down the drain - if our monthly debt servicing is more than our revenue, it implies that the nation's debt will continue to balloon, and we will default on our loan payments. If we default on Chinese loans, we will see a take-over of our infrastructures. It is coming except something drastic happens quickly....
That drastic thing is to choose wisely in 2023. If we vote in the same set of wickedly corrupt people in the next election.... they will ruin what is left and take a flight when it all falls apart...
Communism died, and capitalism survived. Capitalism is a supposed system that allows freeness in an economy - market forces in the hands of private owners control what happens to the economy with minimal influence by the state. Capitalism has produced enormous wealth in the West. There are so many millionaires and billionaires. The question is, what is the ratio of the stupendously rich and those who are just scraping by - living from pay check-to-pay check? The gap is huge between the rich and the poor in most capitalist states. When President Trump was going to deliver his tax reform, it favored the rich with about 80% of the tax benefits going to the top 1% richest people in America. The argument was that they create jobs, they should benefit more - money is being given to those who really do not need the extra cash but those who need it the most, aids is been taken away from people who are at the bottom of the ladder because of a few who lie on their social welfare claims. I h...
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