The Director-General, Debt Management Office, Dr. Abraham Nwankwo has disclosed that Nigeria’s external debt profile has risen to $11 billion as at last week as against the $ 9.4 billion recorded in March. Similarly, domestic debt profile was said to have risen to N11 trillion.

Nwankwo disclosed this in an interview with journalists in Kaduna on Friday shortly after declaring open a one-day enlightenment workshop with leaders of students’ unions from tertiary institutions.

Nwankwo, however, said the quantum of the debt did not really matter. He said the most important thing was how the resources were deployed to encourage economic growth, development, generate employment and reduce poverty.

“Presently Nigeria owes, domestically, about N11 trillion and externally, about $11 billion.The figures are the total of all debts in the federation. It includes external debts of the federal and all the state governments as well as the domestic debts of the federal government and all the state governments.

“Let me emphasise that what matters is not just the quantum, what is important is how these resources are deployed to encourage growth, development, generate employment and reduce poverty.

“It matters whether you are in a position to pay back what you borrowed as at when due and in the case of Nigeria, I want to assure you that Nigeria’s debt remains sustainable.

“Based on current global economic problems, particularly the collapse of oil prices, this is having significant impact on economies all over the world. Because the Nigerian economy is very resilient and because the government is in control, Nigeria’s debts continue to remained sustainable.”


Read more http://newswirengr.com/2015/10/18/with-no-federal-cabinet-nigerias-external-debts-has-risen-to-11billion-against-9-4billion-jonathans-govt-left-in-march/?utm_source=&utm_medium=twitter

in as much its not embezzle. Fine by me

ademega:
in as much its not embezzle. Fine by me

lie nsi ebea

shameless bastard hypocrite

shameless double standard vagabond

some people are just naturally stuppid

zombie

OK!!

This debt probably rose because Governor Oshiomhole borrowed recently.

I hope he has something for this.

mrjangaweed:

lie nsi ebea
shameless bastard hypocrite
shameless double standard vagabond
some people are just naturally stuppid
zombie

omo see cry cry oh. see corrupt political abobaku o ti ya were
so u expected me to say in as much they squander it like the former mofos hun?
o ti so danu

ademega:
in as much its not embezzle. Fine by me

with any cabinet our debt is already increasing and the corp of cabinet members we are seeing especially fashola and Fayemi that are natural onigbese, hmmm I pray for this country sha

mrjangaweed:


lie nsi ebea

shameless bastard hypocrite

shameless double standard vagabond

some people are just naturally stuppid

zombie

D guy is f**king right.If the money is used wisely,Debt is justified.

disloman:
D guy is f**king right.If the money is used wisely,Debt is justified.

please state anything u have seen since the arrival of this government, that justifies increase in our debt.

Answer
There have been no capital projects being financed by the government, since the inception of this government. Even recurrent expenditure has been low, not till a month ago, salaries were been owned.

luche90:
Answer
There have been no capital projects being financed by the government, since the inception of this government. Even recurrent expenditure has been low, not till a month ago, salaries were been owned.

abeg help me tell them o.

mrjangaweed:

lie nsi ebea
shameless bastard hypocrite
shameless double standard vagabond
some people are just naturally stuppid
zombie

U deserve to be banned...

erunz:
please state anything u have seen since the arrival of this government, that justifies increase in our debt.

You are so dumb for asking such a question.Didn't you read to comprehend or you expect what they used the money for to manifest in a second?I know what your reply to this like but this is annoying.

ademega:


omo see cry cry oh.
see corrupt political abobaku
o ti ya were

so u expected me to say in as much they squander it like the former mofos hun?

o ti so danu

Nkita lacha nne i anya ebea

erunz:
with any cabinet our debt is already increasing and the corp of cabinet members we are seeing especially fashola and Fayemi that are natural onigbese, hmmm I pray for this country sha

Go back to school 1diot!!! The post even said the debt include that of the total Federal and states governments debt and you are here crying over Buhari.

That means Body Language is actually expensive. Because all what buhari has done is usingbody language.

Alphaoscar:





Go back to school 1diot!!! The post even said the debt include that of the total Federal and states governments debt and you are here crying over Buhari.

Hypocrite.
But the blame for the $9.4 billion incured previously was heaped on the shoulders of Jonathan even when you know states have a share in that debts and blame. When NOI tried to clarify matters, when she tried to justify the debts you called her names and said it doesn't matter her explanation. You said all that matters is Nigerian has been plunged into debts by Jonathan.

Now the table has turned, you don't want Buhari to be blamed. SMH for you.
Come to think of it can you justify why the quantum of debts has increased by more than $2 billion in just four months of Buhari's administration? Which project has he embarked on? Oh let me guess, he has been around the world including West Germany.

Does the OP understand how budgets work? You can't blame anything on Buhari until this time Next year. You just exposed another of GEJ's ineptitude.

erunz:
The Director-General, Debt Management Office, Dr. Abraham Nwankwo has disclosed that Nigeria’s external debt profile has risen to $11 billion as at last week as against the $ 9.4 billion recorded in March. Similarly, domestic debt profile was said to have risen to N11 trillion.

Nwankwo disclosed this in an interview with journalists in Kaduna on Friday shortly after declaring open a one-day enlightenment workshop with leaders of students’ unions from tertiary institutions.

Nwankwo, however, said the quantum of the debt did not really matter. He said the most important thing was how the resources were deployed to encourage economic growth, development, generate employment and reduce poverty.

“Presently Nigeria owes, domestically, about N11 trillion and externally, about $11 billion.The figures are the total of all debts in the federation. It includes external debts of the federal and all the state governments as well as the domestic debts of the federal government and all the state governments.

“Let me emphasise that what matters is not just the quantum, what is important is how these resources are deployed to encourage growth, development, generate employment and reduce poverty.

“It matters whether you are in a position to pay back what you borrowed as at when due and in the case of Nigeria, I want to assure you that Nigeria’s debt remains sustainable.

“Based on current global economic problems, particularly the collapse of oil prices, this is having significant impact on economies all over the world. Because the Nigerian economy is very resilient and because the government is in control, Nigeria’s debts continue to remained sustainable.”


Read more http://newswirengr.com/2015/10/18/with-no-federal-cabinet-nigerias-external-debts-has-risen-to-11billion-against-9-4billion-jonathans-govt-left-in-march/?utm_source=&utm_medium=twitter

[size=14pt]In 4 years, it will be $40 Billion dollars and Nigeria will still not have oil money to pay it back.
We will comfortably be back into the debt trap.

Take about Changii! [/size]

APC reversing progress since Buhari's 1st coming in 1983. At this rate the achievement of debt forgiveness will be rubbished in less than 2yrs of a rudderless govt. Apc shame.

ISpiksDaTroof:
Does the OP understand how budgets work? You can't blame anything on Buhari until this time Next year. You just exposed another of GEJ's ineptitude.

[size=13pt]Professor of budget well done.

Meanwhile, we read this on July 21, 2015

Insurgency: Nigeria borrows $2.1bn to rebuild North East - Vanguard

http://www.vanguardngr.com/2015/07/insurgency-nigeria-borrows-2-1bn-to-rebuild-north-east/[/size]

erunz:
please state anything u have seen since the arrival of this government, that justifies increase in our debt.

Abraham Nwankwo has disclosed that Nigeria’s external debt profile has risen to $11 billion as at last week as against the $ 9.4 billion recorded in March. Similarly, domestic debt profile was said to have rise

If you are comparing the debt profile of the previous govt and the new one, I think a better comparison would have been between May and now. However, the article compares between March and now.

On the Foreign debt, I can recall the president's request for Edo and Lagos states based on loans approved during the previous govt. On the local debt, I can remember bailout loans to state governments for salary payment.

themaskedman:

Hypocrite.
But the blame for the $9.4 billion incured previously was heaped on the shoulders of Jonathan even when you know states have a share in that debts and blame. When NOI tried to clarify matters, when she tried to justify the debts you called her names and said it doesn't matter her explanation. You said all that matters is Nigerian has been plunged into debts by Jonathan.

Now the table has turned, you don't want Buhari to be blamed. SMH for you.
Come to think of it can you justify why the quantum of debts has increased by more than $2 billion in just four months of Buhari's administration? Which project has he embarked on? Oh let me guess, he has been around the world including West Germany.

The two billion was loan given by the UN for boko haram affected area and the terms of the loan is ok too.

Republlican:


The two billion was loan given by the UN for boko haram affected area and the terms of the loan is ok too.

[size=13pt]Which UN?[/size]

porka:


[size=13pt]Which UN?[/size]

Google is your friend, you can do that please

Why won't our external debt rised? When PDP led government used our money for electioneering campaign.

Republlican:


Google is your friend, you can do that please

[size=13pt]Don't you think you need that 'UN loan' for personal upgrade?[/size]

We need to fight corruption more now

Let me oblige this mumu thread and its title with a few questions since we are comparing stuffs here.

1. What was the exchange rate of the dollar to the Naira when Jo was leaving and what is it now?

2. What was the state of electricity supply when Jo was leaving and what is it now??

3. What was the state of availability of petroleum products when Jo was leaving and what is it now?

4. How much was fuel selling at the pump when Jo was leaving and how much is it now?



#Mumu fault finding Op.