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  • Dokita

    My People,

    Nigerians need to disprove the long-held belief in history that the black man cannot and does not think.
    So far, Nigerian politicians; self-described as Leaders, are proving that racist belief right, rather than wrong.
    When Raji Fashola was physically handed 3.2 TRILLION Naira and he built no school, the belief is mor proved.
    Ditto, when Goodluck Jonathan got 100-dollar +per barrel of oil and built no export company or a petrol refinery.
    Nigerians are in a time-warp and dealing with exactly the same problems of thefts and bribes since independence.
    People who face the same problem for 56 years without reducing or resolving it are NOT fully evolved human beings.

    • simple!



      • abodes_124

        I wonder what the term discretionary means then?

        • Julius

          lolz. You know to them it meant..’As you please’ !

    • Joe

      Are sure you know where Lagos is?

      • eko o ni baje


        Everyone in Lagos agrees that RAJI FASHOLA was a scammer. He was unaccountable and roguish.

        He will have a case to answer in the fullness of time because, without any school built with ₦3.2 trillion

        there is no way this scam can be swept under the carpet, regardless of the impunity he’s now enjoying.

        President Buhari is the stumbling block to the harsh justice Raji Fashola is liable for in financial crimes.

        • Julius

          So, the Financial Times is now a court ?

    • Curious K

      Interesting submissions, I had expected more clarity at what stage of evolution we are currently in. Could Nnamdi Kanu be right in calling Nigeria a zoo?

      • Julius

        Could he be one of the animals in the ‘zoo’ ?

        • Curious K

          So Nigeria is a zoo after all?

          • yukkmouff

            Hahahahaha…………..good one, he didn’t see it coming!

          • Julius

            No, but, a cannibal and vultures like you must be locked up in a zoo .
            Kanu is already in a cage and many more like you and him to go. Hahahahahaha, you didnt see that coming !

          • Julius

            No but, a cannibal and vultures like you must be locked up in a zoo . Kanu is already in a cage and many more like you and him to go.

          • Curious K

            You have turned a discussion into personal insults, I won’t descend to your level. Bye

          • Julius

            So, calling the country a ‘zoo’ is a civil discussion and a decent conversation to you ? See how you folks reason. You start some bullshit and when you get spanked you are suddenly above it. Yea, rite !. You cant stand the heat, stay out of the kitchen. Bye

          • Julius

            So biafrians are animal after all ?

  • Spyman29

    This goes to show that our descend into this current economic quagmire didn’t start 8 months ago.

  • ’70

    I am feeling dizzy reading all these mind-boggling figures
    Could it be that I am dreaming?
    **Pinching self to wake up**
    I advice the current government to trace all those that took these loans and work out a proceedure for them to pay back
    A good example is all those who got car loans that are still alive or retired. Govt can start deductions from their salaries & pensions, while writing off the ones that are deceased as bad loans.

    • George

      You will never wake up Amen

      • ’70

        Well u know what happens to one who wishes another person evil…

  • Boobysmith

    Wasted opportunities by these people… that money will never be recovered

  • Olusegun Adekoya

    Throwing figures around is just going to let some that are too thick to put it into context make noise. The amount mentioned about if we are going to use last year rate is still below $1.5 Billion dollars.. now fast forward to the loan of =N= 414.7 billion given to states by the FG few months ago then you would know this is just lazy reporting..
    So in essence, FG between 1999 and 2015 loaned out =N= 247 billion whilst the present government gave out =N= 413.7 billion in just one month which at that bout was in very close to £2 billion.
    You guys need to put things in perspective.

    • You should have asked what the loans were used for. Is there any evidence the loans were taken and what were they spent on? It is immaterial whether this government gave out more money this year or not. Many people prefer leaving the substance of an issue and resort to red herring.

      • George

        What is substance about the loan giving out by a man who know nothing. Only states in Nigeria that couldn’t pay their wages are APC controlling states EDO, OSUN and the rest up North. Your confused man gave the present loan out without sound mind and you are here trying to justify it without minding this present ASO ROCK OCCUPIER NEED HELP to educate him before allowing him to administer what he has no knowledge of

  • Arabakpura

    Pee Dee Pee!

    • Julius


      • George

        APC SHAME

        • Julius

          Pee Dee Pee vultures !

  • Otile

    Who is the current Oil Minister? Why is Nigeria going zigzag, with no technological development in sight?

  • Höly Wähala

    President Buhari has said that between the Ota Gorilla and the Otuoke Chimp, the sum of $150bn needs to be accounted for so, this report is just the tip of the “fraud-berg” of corruption that is the sum total of both animals. Presidents who arbitrarily approved “loans” that roundtripped into their pockets via Sao Tome, Ghana and outright local cohorts in the Service Chiefs whose wives were not excluded in the raid on our common wealth. There’s no need protecting anyone in this kind of reports, it was Govs. Rotimi ati Fashola who ran to court threatening Dr. NOI to share funds from our ECA and SWF accounts, today, both thugs are ministers while Nigerians are left holding their crotches like touts at motorparks… Until and unless Olusegun Obasanjo and Dr. Jona Dumbo are hauled into gulag for their heinous crimes against the Nigerian nation in form of massive lootings, the war against corruption is a mere window-dressing an ugly ape. Those two hold enough stolen funds to resuscitate the Nigerian economy and obviate the need to borrow shishi to implement the 2016 Budget. Shikena!

    • Nkem

      Incidentally, Madam Blowfish, I mean Okonjo-Iweala, was the ever present one during both regimes. And, guess what, she was the one in charge of the money. Something tells me she would even know about what happened to our money than both men.

      • Höly Wähala

        Yoruba Fraudster… why don’t you use your useless Yoro name in posting gibberish about your mama’s dirty business of hooking along Ayilara Street? Street urchin like you. Diploma Kemi cannot even add 16 + 6 to arrive at a simple answer even my dogs knows… so much for educated Yoruba and Egba enlightenment. Noise makers. Look where Dr. NOI is at the moment and compare that with any other ewedu-lover’s place in history. Ode. Osu.

    • The truth will set you free

      $150billion, a few years ago, I would have said impossible. Now that I really know the extent Nigerians can go, I would think it is impossible just scary to imagine



    • yukkmouff

      I concur!!!

    • Julius

      You know whats so sad ?. Our younger generations are worst than the older ones that we love to blame for everything. Its so sad !

      • George

        Who are the younger generations; those that copied Tinubukuru approach, SHAME

        • Julius

          or the cannibalistickalu approach,SHAME

  • Julius

    Both the living presidents should be called and asked to explain the loans. By the way, did those countries ever pay back the loans ? Ghana is now an oil producing country. They have the money. Make them pay it back with interest. Period.Hold them accountable , prosecute them !. Nonsense.

    • aisha ani

      That is the question everyone should be asking, instead of some of the crazy comments being made.

      • Julius

        Well , you know some people are not interested in solutions. Crazy comments makes the headline and makes them believe that they are smart.

    • Rumournaire

      When did lending money to another country become a crime? How on earth can anyone equate lending money to a fellow West African country to looting of the nation’s treasury?

      • Julius

        When the money isnt paid back or when the payback went into a personal bank account. Hope that answer your question.

        • Rumournaire

          I read the article again. I did not see where it talks about the loans not being repaid or the payback going into private pockets.
          Even if the loans were not repaid, can we say that every loan granted by a bank but on which the borrower defaults in repayment was fraudulently granted?
          I am all for recovery of stolen wealth and bringing looters to book. But I also detest fabrication of negative news. Our news media seem on the prowl just to create sensation by presenting as criminal things that have nothing to do with crime. This seems to be the case here.

          • Julius

            Well, you may be right but, I merely answered your pointed question. I wont be surprised of any news from and about what our ex president did or did not do.My opinion .

          • Rumournaire

            It is true that we have had irresponsible and thieving leaders in the past. But we should be careful not to fabricate negative news about individuals because any of us could be at the receiving end in future.

            Let me give you a very recent example: Last week we all read the sensational news about Diezani’s husband Alison Madueke being “arrested” and interrogated over a $600,000 suspected money laundering. It turned out that all that happened was that EFCC saw in his bank statement that he – a businessman – had purchased things from overseas and paid for them, legally, with his own money, from his own bank account. EFCC then saw no basis for questioning him and everything has gone quiet. Meanwhile, the man’s name has been smeared. You get it?

  • Domingos

    Now that Tchief Obsanjo and Tchief Yar Adua granted loans that they most likely received personal commissions for, Premium Times has moderated the tone of the heading and has deliberately refused to include their names in the caption.

    If it was just only Jonathan who gave out money then I am quite sure the caption would have read “ How Jonathan granted loans…” but because PT wants to protect Obasanjo & Yar Adua, it substitutes the names of culprits with the title – ‘Presidents’.

    Maybe PT feels all Nigerians did not pass WAEC exams or have no high IQ. Rather than focus on the terrible state of the comatose Nigerian economy and the obvious cluelesness of Buhari and his team, PT comes up with propaganda stories of corruption here and there to distract people from the core issues. This is mumudity. Irreversible mumudity.

    By the way, Jonathan’s expenditure and loans even as reported above makes far more sense than the Father Christmas style of Obasanjo who gave a loan of $40m to Ghana just like that. Dr Jonathan’s loans were to Security forces and he need not disclose the reasons because they are ‘security’ issues. This is the norm everywhere. Recall the refusal of the Courts to allow even e-mails of Ms Clinton to be made public bcos of security implications. So Prof Jonathan was in order. The culprits here and the long necked man and the pot belly clown. But guided by hate and pathological bias, PT concludes that Prof Jonathan’s loans “had more impact in depleting the nations resources”. What an ABSURDITY in judgement! How could that be? How? When even your facts contradict your conclusion? c

    • NoSpinEd

      You have coined a brand new word that could make it into the English lexicon in due time because of the vivid picture it paints.:”Mumudity”? That is rich!

    • share Idea

      APC e-mob will not understand your aptly stated view as everything for them is corruption even when they do not understand how government agencies (governance) are run.

    • persona

      The last 16 years was more of a commissioning of rape against this great country. Persons, parties collectively deprived us of a great nation. Fixing Ghana and Sao Tome while our people suffered is the height of man’s inhumanity to man.
      All monies spent on security, yet the nation became a baby factory for kidnapping, BH, militancy, ritual killing and lots of unsolved murder. May God visit these people with His choice of judgement as I am disgusted.

      • George

        Do you read your lizard present president budget go back to read it if not then you will stop talking about 16years ago and concentrate your energy in correcting this present camel Tinubu brought to ASO ROCK in the name of wicked change that never existed.

  • emmanuel

    Where is $12.7b (billion) missing or stolen under IBB? Wont Buhari seize the assets of Babangida Ibrahim, Obasanjo and Abdulsalami? Wont their assets be auctioned as they are threatening to do in the case of my role model – Chief Tompolo? Why must other thieves be allowed to enjoy their loot?

    Even the property of Abacha has neither been seized nor auctioned. Why is Tompolo’s case different even when he has not been found guilty?

    • Prophet

      Your parents did not raise you well. NOW please, go away!

      • George

        And they raise you and your Tinubu well abi Yoorubers keep dreaming until this lion you people are supporting started dealing with you as Abacha did way back.

        When Abacha killed Sari-wiwa all Yorubers celebrated it but when God turned the devil against them they wanted us to see it as national fight time shall time let the Yorubers continue celebrating this evil at ASO ROCK

        • Wilfred Bankole Ademokun

          Have you forgotten the years you have been celebrating at the federal level? Stop blowing your TRUMPET too LOUD.

    • band olu

      He has not been found guilty but he knows he’s guilty & that’s why he has gone into hiding…He should report to EFCC to defend himself then we will all know if he is guilty or not…

      • Netanyahu

        He is not hiding. He traveled on a business trip. He will soon be back. A general does not run from the war front. By the way Amaechi has not told us where he got the war chest he lavished on Buhari’s campaign that earned him a juicy ministerial position. Just thinking. I didn’t say Amaechi should be investigated o! We are pighting kworruption.

        • band olu

          Yeah u are right, he’s travelled on a business trip to d creeks where he always goes to whenever he’s up to no good.How soon will he b back?Just let him know there’s not house or business for him to come back to since d govt has confiscated his ill-gotten wealth so it will better for him to remain in d creeks till we capture him. As for Amaechi ,he has no money to give anyone,we all know he doesn’t like money…


      Tompolo is from the SS.

  • 9ja deserves better dan Buhari

    Nigeria would have been in financial coma during the global financial crisis and the downturn of oil earnings that sent shock waves down the economy if not for excess crude account savings and the SW-over which the governors Forum led by Amaechi took Jonathan to court- Countries like Kuwait with diversified earnings from its sovereign wealth fund, did not experience the kind of shock the Nigerian economy had and is still battling to come out from. Nigeria, apart from oil from the South souht which she has been depending for over 60 yrs, has no other viable foreign exchange earner from the Fulani north and the South west–not to talk of the south east—that can support the economy in time of financial turbulence. The global economy is not showing signs that prices of crude will continue north for much longer. They are tending south, the earlier the nation stops this fake blame game against Jonathan–and tries honestly to save for yet another rainy day, the better for all Nigerians including the dissenting governors who before now, had dragged Jonathan to court with a view to stealing my oil revenue for Buhari ati the Apes in APC.

    • Nkem

      Bros, it’s like you are getting your history a bit twisted. The Global Financial Crisis happened in 2008. So the ECA savings were accumulated before Jonathan’s time. Besides, when Yar’dua /Jonathan took over in 2007, the ECA was about $22 billion and the foreign reserves was over $40 billion. When Jonathan left, the ECA barely had $2 billion in it. So who squandered the savings?

  • favourtalk

    That is how bad the leadership of PDP over the years nearly collapsed Nigeria system through various means of corruption and illegality. We will surely move forward and Nigeria will succeed. We are getting there as corruption will be wiped out In this regime

  • Omooba Adekunle Orafidiya

    I can’t see what the hullaballoo here is about. What’s wrong with helping sister Africa nations and/or Nigerian institutions like the Army and INEC out when they are cash-strapped? Premium Times should please put a stop to yellow journalism.

    • band olu

      How many sister African nations have come to our aid since we’ve been cash-strapped?……Charity should begin at home…

  • Nkem

    Premium Times should have told us how much ‘oil savings’ we had in our savings account before 1999….

  • Uzoma

    Nigeria cannot be eyeing permanent membership at the Security Council without being generous enough to grant less well-off African sister nations such small loans from time to time.


      At the moment Nigeria is cap in hand asking for embarrassing loans of $2 billion from every country or organisation willing to listen…….Those grandiose displays of wealth are back to hunt us all down.

    • Raheem Mustafa

      uzoma, you are one of those corrupt PDP. What do Nigeria gain in giving out these big loans to the so call African countries? Go and see how Nigerians in particular are maltreated in those countries. Those monies is enough to provide good roads, electricity and water.

    • duwdu

      Warped thinking, yours is, to say the least.


      • SBA

        I agree with Uzoma. You are the one that is ignorant honestly and your mind is also warped. How can you country likely claim to be the giant of Africa if she cant grant such loans. Why do you think US got his stature from in spite of her huge debt. You are so ignorant that you forgot the US paid for the rebuilding of Europe after world war 2 (The Marshal Plan). It appears you have forgotten the role of this nation and the fact that we have the highest population of the black race in the world

    • Motherland

      And what exactly will be the benefit of a permanent seat on the security council of the United nations ? Very vain aspirations! We spend so much time trying to be what we think we should be rather than spend energy working on becoming what we should be


    Until Nigeria is politically restructured to curb the excesses of Presidential powers,this country will keep going round in circles. The presidential system coupled with the federal structure keeps so much power in the centre that many DO NOT EVEN KNOW HOW THEIR FUNDS ARE EXPENDED UNTIL DECADES AFTER THE DAMAGE HAS BEEN DONE.

    The present system is so expensive to run and leaves a lot of loopholes for looters to operate.Political power must go back to the regions where it belongs.The only time Nigeria experienced rapid growth and honest good governance was at the time of regional governance .

  • agbobu


  • Artful ºDodger

    Besides the loans to Sao Tome and Ghana i do not see anyhow the Nigerian government can ever get the rest granted to its agencies back. It is the federal government´s duties to fund the military. INEC is not a profit making venture neither is the military so those expenditures can not really be classified as loans.

    Get Ghana and Sao Tome to pay up. Obasanjo did nothing wrong looking out for fellow Africans in their time of need when Nigeria could afford it.