barcanista: And I am telling you that average Nigerian DON'T earn N495,000 per year. That will tell you that the so called GDP is "BOGUS". The Gross National Income of Nigeria is laughable. The Gross National Product is abysmal. My Friend both our GNI and GNP that forms integral part of a country's development is nothing to write home about. It is not about "paper" GDP figures my friend.

If Bill Gates posts on this thread, the average poster here becomes a multi-millionaire or even a billionaire. This is not because each poster suddenly becomes wealthy but because average is worked out by dividing the gross figure - whether wealth or income - by the number of individuals.

In my example, if there are 50 posters including Bill Gates who has wealth of circa $50bn, each poster has an average or per capita wealth of $1bn. So when people say Nigeria's per capita income is N495k, it doesn't actually mean that each Nigerian's income is around that level.

barcanista: And I am telling you that average Nigerian DON'T earn N495,000 per year. That will tell you that the so called GDP is "BOGUS". The Gross National Income of Nigeria is laughable. The Gross National Product is abysmal. My Friend both our GNI and GNP that forms integral part of a country's development is nothing to write home about. It is not about "paper" GDP figures my friend.

Of course am not saying the average Nigerian earns that amount. What the statistics show is gross income inequality. So much money is still being controlled by few people. That's why the government needs to do all it can to develop the informal sector. The N200b small and medium enterprise lunched yesterday is a good start.

Billyonaire: The ignorant poor sees debt as a death sentence, but the educated affluent sees debt as growing credit rating and opportunity to borrow more and expand.

opkonu

Almost everyone here is blaming the FG like the debt was only accrued by the FG alone...what about states like Lagos, Oyo, kaduna Bauchi etc that contributed heavily to the accruement??


Let's stop apportioning blames unjustly. ..


My only problem with this debt is that the money wasn't even put to a good use

1stola:
True.
But you know Nigerians are very greedy and tribalistic.
GEJ is the worst president to ever rule Nigeria.
A clue less confused stúpid thief. Yes! I said it - make dem come arrest me.
Those thieves in the Niger Delta: Asari, Tompolo and many hopeless and jobless youths that gej is currently giving chicken changes won't want gej to be kicked out so that they can continue milking this country.
I know gej could win next election but, I pray he does not finish the term.
GEJ has nothing good to offer this country.

Sometimes you choose your words properly so as not to unknowingly offend people. The Bold is an insult to the Niger Delta people of which I am. You should modify it and rephrase to something that is not offensive to the ND people.

4Play:

If Bill Gates posts on this thread, the average poster here becomes a multi-millionaire or even a billionaire. This is not because each poster suddenly becomes wealthy but because average is worked out by dividing the gross figure - whether wealth or income - by the number of individuals.

In my example, if there are 50 posters including Bill Gates who has wealth of circa $50bn, each poster has an average or per capita wealth of $1bn. So when people say Nigeria's per capita income is N495k, it doesn't actually mean that each Nigerian's income is around that level.

So what is your point?

deeobserver209:
Of course am not saying the average Nigerian earns that amount. What the statistics show is gross income inequality. So much money is still being controlled by few people. That's why the government needs to do all it can to develop the informal sector. The N200b small and medium enterprise lunched yesterday is a good start.

The emboldened just nailed my point of deceit of this Govt.

The N200b small and medium enterprise lunched yesterday is a good start

hahahahaaha another "I will" ... Cheers mate

barcanista: So what is your point?

That you are a paid charlatan.

4Play:

That you are a paid charlatan.

k

barcanista: Sometimes you choose your words properly so as not to unknowingly offend people. The Bold is an insult to the Niger Delta people of which I am. You should modify it and rephrase to something that is not offensive to the ND people.

You didn't comprehend my post. In the context, I didn't refer to all Niger Delta people...
just like people say ..."Not all muslims are terrorist...

benswagtt: *dancin skelewu* hw e take concern ma future? Dats dia 4kin cup of tea!!!

why do you think with your third leg? if you don't suffer from the economic consequence, your children would. so show
some concern for our commonwealth pls

1stola:
You didn't comprehend my post. In the context, I didn't refer to all Niger Delta people...
just like people say ..."Not all muslims are terrorist...

I get your message but some others may feel offended. Its not about me per se bro

Abeg make dem come borrow me 10k I wan carry my future wife Ujsizzle out to honeymoon..

@Post

There is too much corruption in our country so why won't our debt continue to rise? Why won't our debt keep rising when $20 billion is missing? Abeg!

Mynd44: Did anyone say rising debt?

Okay who knows the amount left in "our" external reserves?

I siddon dey look una

sincere9igerian shld answer ur qstion.

Sweetlemon:

That's not the sad thing. The sad thing is that people still want him there just to satisfy their sentiments.

He is not there to satisfy any sentiments, but rather the people that WANT him there KEEP him there to enrich their already filled pockets at the expense of the populace(empty pockets, who CAN'T and WON'T fight for what's right) while the populace praise and worship them and suffer the nonsense results.

These debts are what SOME use as their wealth (looted wealth) and the poor pays the consequences.

So all those calabar festivals were run on debts

MadCow1: I thought Oby paid up all our debt?!


SO who the fhuck borrowed more money from Loan Sharks?!

Lagos state and Tinubu owe most of the dept...now you can imagine, supporter of APC APC ruining everything.

caseless: sincere9igerian shld answer ur qstion.

To me Nigerians are - only those people that ate the NIGERIAN national cake when it was shared and we all know those that ate and will continue eating the national cake(s)

rutibaby: Don't think I have time 2 continue reading that.

When will pay off d debt?
Does it concern d citizens?

I pray govt. won't increase our taxes so they can clear off that debt.

Just thinking aloud sha.

Nigeria - giant of debts.

I wish them the best. Ride on.

sorry but your taxes don't pay off debts brother, the only thing your tax does is enrich the pocket of already rich men at your own peril...


The worst part is : YOU CAN NOT ACT OR DO ANYTHING ABOUT IT

Off course they have to borrow after allowing/using BOKO HARAM to run down the economy.

They recalculated the GDP in order to justify borrowings,so that Nigerians don't panic" it's high ooo, but it's very sustainable, just 12.5% of GDP says the FG policy makers.

barcanista: This report has confirmed my earlier position that Jonathan is operating a Government of Fraud. When President Obasanjo came to Power, Nigeria's External debt was $35bn. President Obasanjo successfully cleared the debt and left a Reserve of about $45bn. In contrast Jonathan has depleted the Reserve and has punged us into a huge debt.

Jonathan must be kicked out of power in 2015

I do nt think you know much about Economics, The world lives on Debt, its the reality we face.Check the western world today, The start projects with no physical cash, the raise the monies via borrowing then offset it with tax.In the western world you dont own ur house or brand new car in full as they are on Loan or mortgage. as at 2012 Nigeria ranked NO 89 in the Debt, the Highest Debtor in the whole world is the USA check this link
http://en.wikipedia.org/wiki/List_of_countries_by_external_debt

DAVE5:

He is not there to satisfy any sentiments, but rather the people that WANT him there KEEP him there to enrich their already filled pockets at the expense of the populace(empty pockets, who CAN'T and WON'T fight for what's right) while the populace praise and worship them and suffer the nonsense results.

These debts are what SOME use as their wealth (looted wealth) and the poor pays the consequences.

So all those calabar festivals were run on debts

Have you bothered to check what eh USA owes? you will realise we owe nothing

jdilight: 10.4 trillion Naira na debt? Funny people I thought it was in $.

My thought lol these people have no clue

Propaganda , why this report now?

America owe in excess of 4thrillion Dollars, so I don't know why the few billion naira that Nigeria now owe is an issue.

Bazinga:

i dont respond to people like u. go look for someone else that has ur time. i ve made ma point. PDP Out come 2015

Na real wah for you oh
See as you dey pick race
You made a BASELESS post and I pointed it out to you but rather than take the OPPORTUNITY offered to correct yourself you still dey make shakara dey carry swagger like person wey sabi
If you choose to remain inside the jail that your CLUELESSNESS has thrown you in, then na your own palava be that. I can't help you further








BTW, are there no PDP governors among the 36 referred to in my first post on this thread

erico2k2:
Have you bothered to check what eh USA owes? you will realise we owe nothing

Can you compare the 2 nations??

erico2k2:
I do nt think you know much about Economics, The world lives on Debt, its the reality we face.Check the western world today, The start projects with no physical cash, the raise the monies via borrowing then offset it with tax.In the western world you dont own ur house or brand new car in full as they are on Loan or mortgage. as at 2012 Nigeria ranked NO 89 in the Debt, the Highest Debtor in the whole world is the USA check this link
http://en.wikipedia.org/wiki/List_of_countries_by_external_debt

It's not about "Borrowing money" its about borrowing money to engage in meaningful and feasible projects and can be paid at agreed time without putting the citizens to untold hard condition. As at today virtually non of our institution is working despite government's propaganda. How do we service the loans? How do we pay back? It means it will be the Nigeria people that will bear the brunt.



BTW: If you are here to argue partisanly, PLEASE I am not interested.

anonimi:

Na real wah for you oh
See as you dey pick race
You made a BASELESS post and I pointed it out to you but rather than take the OPPORTUNITY offered to correct yourself you still dey make shakara dey carry swagger like person wey sabi
If you choose to remain inside the jail that your CLUELESSNESS has thrown you in, then na your own palava be that. I can't help you further









BTW, are there no PDP governors among the 36 referred to in my first post on this thread

Has PDP being able to provide any of their states with Portable water??

Will u vote for me if I provide u with Portable water?

Mr Portable water.

But wetin carry Nigeria reach water wia e go dey sink deeper and deeper dey go?

ba7man: Can you compare the 2 nations??

Yes