Nigeria Is About To Join A Different Kind Of 30 Billion Gang.

December 2, 2019

And it’s not the gyrating, shouting nursery rhymes and snap chatting kind. 

… to understand that it is seeking approval from the senate to borrow $30 billion dollars to develop infrastructure in the country. This loan, if approved will:


Almost rival the country’s proposed 2020 budget, which stands at $34 billion.

Increase the country’s debt portfolio which stood at $24.947 billion in March.

Likely take up almost 80% of government’s revenue on debt servicing 

(Debt servicing being the amount of money spent on repaying the principal and interest on a loan for a period of time)


Piss members of the 8th Senate off.

The previous members of the Senate rejected the proposed loan way back in 2016, allegedly because it would have increased our external debt to over $52 billion.

Will this loan actually help or is someone about to get even richer?


And we can’t say for sure on which. 

I mean, this is the same country where 60% of a $1 billion loan from the Chinese government for rail projects was allegedly diverted. Then again, look at all the good roads, working public transportation system and representative healthcare available all around you! We really can’t tell.


You'll like this

February 3, 2020

Gather round, there’s enough room in today’s free okada-ban therapy session for everybody. As we all know, the Lagos State government has decided the motto for 2020 is ‘pepper-dem’, but not in the good way. The state has instituted a ban on okadas and keke-napeps from the plying major roads. The ban came into effect […]

Boyin Plumptre

Join The Conversation

Bring a friend.

Watch

Now on Zikoko

May 27, 2020

DJ Spinall — “Pressure” ft. Dice Ailes Many Nigerian DJs try, but few are able to orchestrate a banger quite like DJ Spinall. For his latest effort, the Dice Ailes-assisted “Pressure”, he proves that he still remains undefeated. That being said, “Pressure” is Dice Ailes’ show through and through. The criminally underrated star shines on […]

Recommended Quizzes

November 4, 2019

After successfully predicting when y’all are getting married (please, email any complaints to noneofourbusiness@nayousabi.com), we are back to tell you how much is currently in your account. How, you might ask? By using your taste in Nollywood, of course. Shhh. No questions. Just take it already:

October 30, 2019

Kemi Adetiba’s King of Boys movie got a lot of things right, especially casting, so yes, it was a monster hit. Now, we know you may not have put much thought to this, but the personalities of some of the characters closely match yours, and we would like to help you find the perfect match. […]

November 7, 2019

These days, everyone is always talking about how much sex they’re getting, or how little sex they’re getting, or how disgusting sex is etc. There’s just so much talk about sex, it’s almost impossible to know who’s lying and who’s telling the truth. In anticipation of our new series about the sex lives of young […]

October 10, 2019

2019 is certainly Burna Boy’s year, but, if we are being honest, so was 2018. Since his transcendent mixtape, Outside, the afro-fusion star has refused to get his foot of our necks — dropping a string of fantastic singles and then capping it all off with his career-best album, African Giant.  So, in a bid […]

More from Citizen

May 22, 2020

In January 2020, Kay — awesome writer over at TechCabal, (Zikoko’s sister publication) spent a month in South Asia, touring the borders between Bangladesh and India. In preparing for this interview, I spent an inordinate amount of time getting lost in Bangladeshi cuisine, using maybe all of 3 minutes to learn about everything else (JK. […]

May 16, 2020

Have you ever been so scared for someone’s conscience, intercessory prayer starts hungrying you? Since May 7th, my recurring prayer point and the universal leader Governor of Rivers State – Nyesom Wike has seized and auctioned off over 20 civilian cars, convicted over 170 people and demolished 2 hotel buildings in his state. These were […]

May 15, 2020

For reasons best known to me (I’m bored, wistful and stir crazy, stuck at home with two sexagenarians), I have been dutifully spending a large percentage (I can’t say how large, this is a work post) of my day, researching the first few abroads I plan on living in when this whole ordeal is over. […]

May 9, 2020

To convict Orji Uzor Kalu — former Abia State Governor, Senator and chief whip of the senate — of a ₦7.7 billion fraud allegation, the trial courts engaged in proceedings so elongated, a child born at its inception would have been gearing up for senior secondary school upon its end.  With the Supreme Court decision […]

May 8, 2020

If all my many years of watching overly dramatic spy-thrillers has taught me anything, it’s that Russia, its spies and its president are 100% not to be messed with.  I thought everyone that journeyed to Moscow in 2018 had serious mind,and I still can’t watch Vladimir Putin on the news without avoiding eye contact. I’m […]

Watch

Trending Videos

Zikoko Originals

May 14, 2020
Isolation Diary is a Zikoko series that showcases what isolation is like for one young Nigerian working from home due to the Coronavirus pandemic.
March 12, 2020
Life is already hard. Deciding where to eat and get the best lifestyle experiences, isn't something you should stress about. Let VRSUS do that for you.
February 6, 2020
Who doesn't want to find love? In our bid to help, we paired up a bunch of single Nigerians, sending them on an all-expense paid date, and interviewing them before and after they met.
January 27, 2020
Nigerians Talk is what happened when a motley crew of young Nigerians were put in front of a camera and asked a bunch of apparently random questions about life, love, money and more.
September 24, 2019
A group of Zikoko staff go on a road trip to every mainland country in ECOWAS West Africa
May 5, 2020
For the second season, we put an even more diverse motley crew of young Nigerians in front of a camera and asked them random questions about love, school experiences and more.

Z! Stacks

Here's a rabbit hole of stories to lose yourself in:

Zikoko amplifies African youth culture by curating and creating smart and joyful content for young Africans and the world.