Specifically, N15 billion FGN Bond August
2016; N50 billion FGN Bond March 2024; and N35
billion FGN Bond July 2034 were re-opened yesterday
at the rates of 13.5 per cent; 14.2 per cent; and 12.15
per cent respectively.

Obiagelli: yet nothing tangible to show for it. I also read oil prices are coming down too. Pity pity pity

CFCfan:
The FG and states are not raising alarms because the total debt stock is only 12% of GDP.

CFCfan:
The FG and states are not raising alarms because the total debt stock is only 12% of GDP.

Obiagelli:
first there isn't much to show for the debts,
Secondly i mentioned falling oil prices.
Of course they won't make noise about their loot.

CFCfan:

True. The falling oil prices would lead to a reduction of govt revenue, which in turn reduces the govt's spending as a portion of GDP.

Idrismusty97: But that is more than our external reserve and even our annual revenue. I thought we can't use our GDP to pay the debts, We will use our annual revenue. Private companies/business are the ones enjoying our GDP.

Obiagelli:
first there isn't much to show for the debts,
Secondly i mentioned falling oil prices.
Of course they won't make noise about their loot.

Sincere9gerian:
What does the APC controlled Lagos state have to show for its enormous debt burden?

The states' rising debt accumulation started from
the $1.7 billion outstanding as at December
2008, but by June 2012, records showed a total
debt stock of $2.2 billion, an increase of $500
million. However, from December 2012, the debt
reached $2.64 billion as at June 2013, but
assumed a proportional dimension as almost all
the states got involved in raising capital for
acclaimed development projects in their
respective areas.

The rising debts have as well increased
government's obligations as it is faced with the
hemorrhaging debt service to the tune of N712
billion this year, an attestation to fact that the
nation is back into the debt game.

Obiagelli:
a sensible government will reduce spending early while a silly one will increase borrowing.

CFCfan:
The FG and states are not raising alarms because the total debt stock is only 12% of GDP.

RockMaxi:




Now this calls for concern especially that 2015 elections is coming, Aspirants vying for Governorship must be able to come up with economically sound manifesto that is totally different from constructing flyovers and civic centres.
Well Mr. President, by 2015 you will no longer be inexperienced in navigating the affairs of this country. GDP rebasing should not be reason to plunge us into uncontrollable debt profile. Take the stand now for posterity sake.

manny4life:

That's how US Debt rose, when we continue to deceive ourselves it's only 12% of GDP, sooner or later, it will be 60% of GDP. Nigeria is indeed growing, but I've always said it, we are developing at a slow pace, not enough to match our growth strength or should I say not enough to sustain our borrowing capacity.

manny4life:

As much as I detest inexcusable spending and unnecessary borrowing, how do you suggest the govt reduce spending? I need serious suggestions perhaps we can treat your option step by step.

Obiagelli:
it gives joy always when you compare the federal government with Lagos State Government, it tells me Apc is obviously doing great.
FG 51% of total allocation
Lasg less than 4% of total allocation.

From your comparison, Fashola should be president.

CFCfan:
The only other viable policy would be to increase taxes and fees, to raise revenue and service their debts. But spending over N700bn on debt servicing is outrageous!

Obiagelli:
how come i usually get this kind of challenge at night, how about we start with the presidential airways and it's 11 fleet of planes and counting.
Or cutting down on the Ministers and thier minister of state and their adviser.
We can also scrap TAN. Not forgetting travel delegation. Too many to mention tonight

Obiagelli:
how come i usually get this kind of challenge at night, how about we start with the presidential airways and it's 11 fleet of planes and counting.
Or cutting down on the Ministers and thier minister of state and their adviser.
We can also scrap TAN. Not forgetting travel delegation. Too many to mention tonight

Obiagelli:
a sensible government will reduce spending early while a silly one will increase borrowing.

Sincere9gerian:
The comparison is only natural because Lagos is the headquarter of your paymasters, who you claim can do better than the incumbent president. Since you claim they can do better with 10 talents (at the federal level), then it only makes sense to know how they've managed the 2 talents currently under their control. Isn't that COMMON SENSE?

CFCfan:
I stated in a thread last year, that there needs to be a constitutional amendment limiting the max number of ministers to 24-30. That would save 100s of millions of Naira.
There is no need for 11 planes in the Presidential fleet! 4 or 5 will do.

RockMaxi:

Raising Taxes and fees is a no go area for this economy, believe you me the inflation that will result from that will definitely kill the common masses.