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Nairaland Forum / Nairaland / General / Business / Nigeria Sinks Deeper Into External Debt (22532 Views)
Five South West Sates Owes 45% Of The Country's External Debt Stock by States. / States With The Lowest External Debt In Nigeria / Nigeria External Debt Stands At $6.67 Billion - Okonjo-iweala (2) (3) (4)
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Re: Nigeria Sinks Deeper Into External Debt by ba7man(m): 2:24pm On Aug 20, 2014 |
CAMNEWTON4PRES:For your mind, abi? |
Re: Nigeria Sinks Deeper Into External Debt by CAMNEWTON4PRES: 2:29pm On Aug 20, 2014 |
ba7man: For your mind, abi?give the fields |
Re: Nigeria Sinks Deeper Into External Debt by Nobody: 2:29pm On Aug 20, 2014 |
The funniest thing is that with all these unnecessary debts, Nigeria is arguably the most capitalist country on the planet - with almost close to zero welfare for its citizens. Yet some clowns are still proposing more cuts. Don't the poor deserve something at all in that country, despite all the resources at its disposal? Cut the big and utterly useless and corrupt government - and find ways to reduce corruption. And where's all the money going since the country is still as messed up as ever? 4 Likes |
Re: Nigeria Sinks Deeper Into External Debt by Rose111: 2:31pm On Aug 20, 2014 |
MOFUCKERS NEVER LOVED US YOU AINT KNOW NOW YOU KNOW NOW. |
Re: Nigeria Sinks Deeper Into External Debt by Nobody: 2:32pm On Aug 20, 2014 |
Idrismusty97: I know of a country that has a $16 trillion debts . That country debt/GDP ratio is around 100%! Ours is just over 12%. Although our government need to do something so even when we become a 1st world country it wouldn't be base on borrowed wealth.what are you saying? |
Re: Nigeria Sinks Deeper Into External Debt by CAMNEWTON4PRES: 2:34pm On Aug 20, 2014 |
Nobleval: what are you saying? That Americans should care about their own debts and sinking economy |
Re: Nigeria Sinks Deeper Into External Debt by Nobody: 2:37pm On Aug 20, 2014 |
CAMNEWTON4PRES:what's this got to do with America? |
Re: Nigeria Sinks Deeper Into External Debt by hercules07: 2:37pm On Aug 20, 2014 |
SirShymex: The funniest thing is that with all these unnecessary debts, Nigeria is arguably the most capitalist country on the planet - with almost close to zero welfare for its citizens. Yet some clowns are still proposing more cuts. Don't the poor deserve something at all in that country, despite all the resources at its disposal? My brother God will bless you, all these vulture capitalists who want to unload the problems on the poor, fuel subsidy was about $2bn under Obasanjo and Yar Adua, all of a sudden it is $7bn under Jonathan, what is the landing cost of oil, build refinery they can not, rather they pay themselves huge sums and steal the rest, the debt might be 12.5% of GDP, but, if oil prices fall and our debt falls into the hands of vultures like the guy holding Argentina to ransom, we will hear wen. 1 Like |
Re: Nigeria Sinks Deeper Into External Debt by Bazinga(m): 2:38pm On Aug 20, 2014 |
barcanista: lolsss I am supporting your position. you are quoting the wrong person, Check your mentions again... my bad |
Re: Nigeria Sinks Deeper Into External Debt by CAMNEWTON4PRES: 2:41pm On Aug 20, 2014 |
Nobleval: what's this got to do with America?you asked what he was saying, I just replied sha |
Re: Nigeria Sinks Deeper Into External Debt by Nobody: 2:42pm On Aug 20, 2014 |
SirShymex: The funniest thing is that with all these unnecessary debts, Nigeria is arguably the most capitalist country on the planet - with almost close to zero welfare for its citizens. Yet some clowns are still proposing more cuts. Don't the poor deserve something at all in that country, despite all the resources at its disposal? Good advice.....but that means lots of jobs lost.(and that loses you votes) |
Re: Nigeria Sinks Deeper Into External Debt by 2leftlegs(m): 2:43pm On Aug 20, 2014 |
And they put up a STUPID advert on TV saying we should back that waste of a president....How do I back up someone who dosent even know how to back up himself 1 Like |
Re: Nigeria Sinks Deeper Into External Debt by Nobody: 2:44pm On Aug 20, 2014 |
hercules07: These vultures messed the Argies up and I think the country has defaulted again - that's like the second time in like 10 years or so. And Argentina used to be the pride of South America(the quintessential South American capitalism). That's how extreme capitalism and creating a bubble everywhere works - give the people false hope, then return to wipe out the middle class and put the economy on a choke-hold. The same with Bill Clinton, and the housing bubble America is yet to recover from, for more than two decades now. The oil subsidy nonsense is a big fraud and epitomises everything wrong with that country. These folks are all rogues and cowboys, led by an economic hit-woman from Bretton Woods. By the time they're done, they will end up selling the whole country to the highest bidders - to create a bubble. |
Re: Nigeria Sinks Deeper Into External Debt by Nobody: 2:50pm On Aug 20, 2014 |
CAMNEWTON4PRES: I think America's debts have more to do with unnecessary military spending and adventures, coupled with the banksters and plutocrats - than anything else. Its debt profile started getting out of hand from the Ronald Reagan era...Bill Clinton accelerated it, Dubya doubled it - and Obama destroyed everything. However, the country still offer its citizens far more than Nigerians can only dream about. The poster-child for capitalism but still with a lot of welfare programmes for the poor and disadvantaged - something Nigeria can't even boast about. |
Re: Nigeria Sinks Deeper Into External Debt by DAVE5(m): 2:52pm On Aug 20, 2014 |
erico2k2: ehm... so if someone else's situation is worse than your's, you give yourself a pat on the back right, btw the USA you are quoting is in a lot better standing than we would EVER be, good roads, clean, employment, standard of living, electricity, correct strong stable and cheaper network (to browse till mama calls), the list goes on... so pls don't compare... |
Re: Nigeria Sinks Deeper Into External Debt by hercules07: 2:54pm On Aug 20, 2014 |
SirShymex: Argentina negotiated with over 90% of its bond holders to pay them, the money to pay them is sitting in a bank, these vulture capitalists that bought the bonds at very very cheap rates from the original owners want to make over 300% on those bonds. Nigeria keeps borrowing and people are saying it is 12.5% of GDP, they should ask Argentina the percent of their GDP that was initially borrowed that has ballooned to $200bn. GEJ has been there for over 4 years, PDP almost 16 years not a single refinery, Saudi in the last 4 years built the second largest refinery in the world, in the desert. 1 Like |
Re: Nigeria Sinks Deeper Into External Debt by popson1st: 2:57pm On Aug 20, 2014 |
Enjoyin myself with a bottle of Orijin while going through the comments. Teacher: GEJ will win the next election. What tense? Nairalanders: Future Impossible Tense. In Sound Sultan's voice: **Even thief go dey follow shout Ole.. **Who be the thief, Who be the catcher.. |
Re: Nigeria Sinks Deeper Into External Debt by TonySpike: 3:14pm On Aug 20, 2014 |
SirShymex: Hey Bro, where have you been? I didn't know you still visit this messed up politics section on Nairaland. Hope you're good, man? |
Re: Nigeria Sinks Deeper Into External Debt by Nobody: 3:15pm On Aug 20, 2014 |
GenBuhari: Abacha reduced external debt by $8bnand obasanjo paid all the debt. |
Re: Nigeria Sinks Deeper Into External Debt by anonimi: 3:24pm On Aug 20, 2014 |
ba7man: Has PDP being able to provide any of their states with Portable water?? I dey answer present sir, my Oga @ the top Yes oh nor be sey I go only vote for you even sef I go mobilise plenty plenty votes for you if you do am for potable water only. Make water dey flow yanfu yanfu for our TAPs dem. Na so we want am oh! Make we come get am for ogbonge correct health plus hygiene and wholesale sanitation for our area dem E come be like sey EkoIle aka Aresa don go yarn im oga for Alausa House sey this water matter don dey reach palava phase so tey the wayo, TALKative man dey REPEAT im promise of 2020- Year of Water for All Lagosians That is to say five whole years after the Smooth Operator im tenancy agreement go don expire I guess that means for the past over 15 years he and his godfather were literally looking at the gadas (bridges) in Lagos and counting the number of floors on skyscrapers. Na so dem take us do MUMU finish As I talk am before na all the 36 governors (to the best of my knowledge) who have been sleeping on duty while the Jonathan&Sambo federal administration has been very busy turning around our moribund fortunes of decades of decay & rot in infrastructure and electricity. |
Re: Nigeria Sinks Deeper Into External Debt by Nobody: 3:24pm On Aug 20, 2014 |
UrbanMystique: really? how old are you? May be he is 99yrs old and about to RIP so he might just be right. |
Re: Nigeria Sinks Deeper Into External Debt by Nobody: 3:29pm On Aug 20, 2014 |
hercules07: Sad. I believe a judge in New York just ordered the Argies to pay other bond holders that weren't part of the initial deal. These vultures just destroyed that country. Nigeria is reminiscent of drunkard Yeltsin's Russia, with oligarchs running the show - with IMF and World Bank auctioning everything to the highest bidders. Substitute "Drunk Yeltsin" with "Fedora GEJ" and "Oligarchs" with "corrupt politicians" - and that's the perfect picture right there. Russia had to default, for the country to get back on track - and it looks like Nigeria is on the same path. I honestly don't know what's stopping them from building just one functioning refinery. Then you've got the massive gap between the rich and the poor, without any efforts being made to move the poor up into middle class, via efficient programmes. The middle class is the backbone of every economy - they're the ones with the spending power and intellectuals - to develop and keep every country afloat. Yet the middle class in Nigeria, by normal standard, based on population ratio is almost non-existent - and the country is still heavily indebted with useless paper GDP. |
Re: Nigeria Sinks Deeper Into External Debt by Hempe(m): 3:31pm On Aug 20, 2014 |
Make the oyinbos kukuma kom collect their independence back, we are not worthy of it. Let's go back to slavery...... |
Re: Nigeria Sinks Deeper Into External Debt by Nobody: 3:31pm On Aug 20, 2014 |
TonySpike: Lmao...I'm everywhere. I just lurk most times in the politics section, laughing my ar.se off at the madness going on there. These guys go hard! I'm good, bruddah...just working hard and smart like the original black man should. How are you, anyway? |
Re: Nigeria Sinks Deeper Into External Debt by Nobody: 3:40pm On Aug 20, 2014 |
He never paid the debt. It was a scam check the records whether we were debt free in June 2007 when thief Obasanjo left office? saxywale: |
Re: Nigeria Sinks Deeper Into External Debt by Ayostically: 3:49pm On Aug 20, 2014 |
Sweetlemon: Dats wat's killin us. Hw can ppl continue 2 folo folo a failin "dealer" cos GEJ is nt a "leader" |
Re: Nigeria Sinks Deeper Into External Debt by JEITO: 3:51pm On Aug 20, 2014 |
This OP na Nigerian with Ghanian sense |
Re: Nigeria Sinks Deeper Into External Debt by TonySpike: 3:55pm On Aug 20, 2014 |
SirShymex: Sure, I'm doing fine here. Got any new research as per our old areas of interest? |
Re: Nigeria Sinks Deeper Into External Debt by Toscoas2(m): 3:58pm On Aug 20, 2014 |
yorke1: Atleast we are seeing the evidence of the money/fund in the transformation development agenda programmes of Mr. President. Is not as if the debt is rising without a corresponding increase in infrastructural development and positive transformation in the lives of Nigerians. GEJ is working, Nigeria is developing while haters keep on hating. GEJ till 2019.one of set backs faced by Nigeria , wit ur mindset ds country will not develop, you better face reality. |
Re: Nigeria Sinks Deeper Into External Debt by Nobody: 3:59pm On Aug 20, 2014 |
oboi mtn do well o i just came accroos dis www.casygist.tk i no say una like freebies oya check am |
Re: Nigeria Sinks Deeper Into External Debt by erico2k2(m): 4:21pm On Aug 20, 2014 |
barcanista: 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.Im not politicaly afiliated so dont worry my arguments are based on facts.The only income we have to pay for everything which is not even enoigh is income from crude Oil.So where do U want the infastructuralal development moni3s to come frm.I major point as stated is I wish for Niveria to uave acces to more loans so we can enduldge in more project.Its all about money management.We need more loans.Have a look at Germany the bivest Expnomy in Europe did you see howmuch they owe? |
Re: Nigeria Sinks Deeper Into External Debt by yorke1: 4:23pm On Aug 20, 2014 |
Toscoas2: Which reality do you want me to face apart from the reality on ground. Credit should be given to whom it is due. GEJ has done wonderfully well. That's the true story. You are part of those people spoiling this country. You don't see anything good in this country. Typical example of what APC represent. |
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