Isaacmacdon:
I saw a list of countries with very high foreign debts, and surprisingly, the US is number one. But, come to think of it. The united states spend more on acquiring weapons than improving infrastructure. You may begin to ask why did they choose to do stuffs like that. Firstly, the united states is a country with a masterplan. Dating back to a couple of years ago -- let's say 50 to 60years ago-- they focused more on infrastructure and economic development. They kept building and investing in the country. They did a whole lot. Now, they've been able to sustain that massive economic growth, and they know the consequences of war and insurgency. They spend on military hardware and other sophisticated weapons, in other to protect what they've suffered to build.

Nigeria, is a country without a plan. We let insurgency and other militant attacks cripple what we've suffered to build. We also have greedy set of individuals, who go as far as looting the national treasury, and that's the reason there has been massive shortage of funds. Failure to diversify is also a critical issue. Only if Agriculture and other sectors were given proper attention, we wouldn't have requested such huge amount of money from the IMF.

God help us though.

Nbote:


I know him and all of dem too well..



How many of these countries u listed can we confidently claim to b beta than economically, socially and otherwise and yet u want to compare our debt profile with theirs. Pls do well to compare our GDP also and per capita income

eleojo23:
A round of applause for Buhari please

coolestchris:
ok

top debtors in the world
*List of countries by external debt in us dollars*
1 United States 18,624,000,000,00
2 United Kingdom 7,852,460,000,000
3 France 5,369,125,000,000
4 Germany 5,141,400,000,000
5 Netherlands 4,306,190,000,000
6 Luxembourg 3,900,665,000,000
7 Japan 3,516,200,000,000
8 Italy 2,324,420,000,000
9 Ireland 2,236,430,000,000
10 Spain 2,036,560,000,000
11 Canada 1,775,920,000,000
12 Switzerland 1,738,370,000,000
13 China 1,562,800,000,000
— Hong Kong 1,498,880,000,000
14 Australia 1,487,720,000,000
15 Singapore 1,320,567,000,000
16 Belgium 1,278,465,000,000
17 Sweden 938,692,000,000
18 Austria 638,340,000,000
19 Norway 623,223,000,000
20 Brazil 538,693,000,000
21 Russia 532,846,000,000
22 Denmark 491,617,000,000
23 Finland 483,369,000,000
24 India 471,852,000,000
25 Greece 471,763,000,000
26 Portugal 447,022,000,000
27 Turkey 432,352,000,000
28 Mexico 431,344,000,000
29 South Korea 407,341,000,000
30 Poland 363,658,000,000
31 Indonesia 335,289,000,000
32 United Arab Emirates 220,400,000,000
33 Malaysia 202,572,000,000
34 Saudi Arabia 200,900,000,000
35 Argentina 192,462,000,000
36 Mauritius 189,220,000,000
37 New Zealand 186,216,000,000
38 Chile 170,293,000,000
— Taiwan 170,138,000,000
— Puerto Rico 167,400,000,000
39 Kazakhstan 165,501,000,000
40 Qatar 159,200,000,000
41 Hungary 148,024,000,000
42 South Africa 142,833,000,000
43 Thailand 140,510,000,000
44 Czech Republic 137,606,000,000
45 Colombia 121,097,200,000
46 Cyprus 119,672,000,000
47 Ukraine 114,836,000,000
48 Venezuela 110,878,000,000
49 Romania 108,880,000,000
50 Malta 96,251,300,000
51 Israel 89,438,400,000
52 Slovakia 86,630,000,000
53 Pakistan 82,980,700,000
https://en.m.wikipedia.org/wiki/List_of_countries_by_external_debt

Nbote:
If d guy above me is not d definition of a zombie I don't know what is... Our debt profile is rising like d BP of Nigerians and yet d only thing a supposed reasonable person can say of what his Messiah's have done is "OK"..

madridguy:
I blame the satanic umbrella party.

Nbote:


I know him and all of dem too well..



How many of these countries u listed can we confidently claim to b beta than economically, socially and otherwise and yet u want to compare our debt profile with theirs. Pls do well to compare our GDP also and per capita income

Nbote:


I know him and all of dem too well..



How many of these countries u listed can we confidently claim to b beta than economically, socially and otherwise and yet u want to compare our debt profile with theirs. Pls do well to compare our GDP also and per capita income

emmie14:

You made sense in your analysis and comparison . You continuously used "we". You and who? Where you consulted during borrowing and expenditures.

coolestchris:
ok

top debtors in the world
*List of countries by external debt in us dollars*
1 United States 18,624,000,000,00
2 United Kingdom 7,852,460,000,000
3 France 5,369,125,000,000
4 Germany 5,141,400,000,000
5 Netherlands 4,306,190,000,000
6 Luxembourg 3,900,665,000,000
7 Japan 3,516,200,000,000
8 Italy 2,324,420,000,000
9 Ireland 2,236,430,000,000
10 Spain 2,036,560,000,000
11 Canada 1,775,920,000,000
12 Switzerland 1,738,370,000,000
13 China 1,562,800,000,000
— Hong Kong 1,498,880,000,000
14 Australia 1,487,720,000,000
15 Singapore 1,320,567,000,000
16 Belgium 1,278,465,000,000
17 Sweden 938,692,000,000
18 Austria 638,340,000,000
19 Norway 623,223,000,000
20 Brazil 538,693,000,000
21 Russia 532,846,000,000
22 Denmark 491,617,000,000
23 Finland 483,369,000,000
24 India 471,852,000,000
25 Greece 471,763,000,000
26 Portugal 447,022,000,000
27 Turkey 432,352,000,000
28 Mexico 431,344,000,000
29 South Korea 407,341,000,000
30 Poland 363,658,000,000
31 Indonesia 335,289,000,000
32 United Arab Emirates 220,400,000,000
33 Malaysia 202,572,000,000
34 Saudi Arabia 200,900,000,000
35 Argentina 192,462,000,000
36 Mauritius 189,220,000,000
37 New Zealand 186,216,000,000
38 Chile 170,293,000,000
— Taiwan 170,138,000,000
— Puerto Rico 167,400,000,000
39 Kazakhstan 165,501,000,000
40 Qatar 159,200,000,000
41 Hungary 148,024,000,000
42 South Africa 142,833,000,000
43 Thailand 140,510,000,000
44 Czech Republic 137,606,000,000
45 Colombia 121,097,200,000
46 Cyprus 119,672,000,000
47 Ukraine 114,836,000,000
48 Venezuela 110,878,000,000
49 Romania 108,880,000,000
50 Malta 96,251,300,000
51 Israel 89,438,400,000
52 Slovakia 86,630,000,000
53 Pakistan 82,980,700,000
https://en.m.wikipedia.org/wiki/List_of_countries_by_external_debt

Swisscoinng:
Mr. Economy did you not see South Africa on the list? Our GDP better theirs! Did you not notice that the top economies of the world (US, UK, France, Japan etc) are at the top of the list? If they have so much money like you reason, why borrow so much?

IMF now reason what is good for the goose is no longer good for the gander, guess what they only tell that to Africans!

coolestchris:
ok

top debtors in the world
*List of countries by external debt in us dollars*
1 United States 18,624,000,000,00
2 United Kingdom 7,852,460,000,000
3 France 5,369,125,000,000
4 Germany 5,141,400,000,000
5 Netherlands 4,306,190,000,000
6 Luxembourg 3,900,665,000,000
7 Japan 3,516,200,000,000
8 Italy 2,324,420,000,000
9 Ireland 2,236,430,000,000
10 Spain 2,036,560,000,000
11 Canada 1,775,920,000,000
12 Switzerland 1,738,370,000,000
13 China 1,562,800,000,000
— Hong Kong 1,498,880,000,000
14 Australia 1,487,720,000,000
15 Singapore 1,320,567,000,000
16 Belgium 1,278,465,000,000
17 Sweden 938,692,000,000
18 Austria 638,340,000,000
19 Norway 623,223,000,000
20 Brazil 538,693,000,000
21 Russia 532,846,000,000
22 Denmark 491,617,000,000
23 Finland 483,369,000,000
24 India 471,852,000,000
25 Greece 471,763,000,000
26 Portugal 447,022,000,000
27 Turkey 432,352,000,000
28 Mexico 431,344,000,000
29 South Korea 407,341,000,000
30 Poland 363,658,000,000
31 Indonesia 335,289,000,000
32 United Arab Emirates 220,400,000,000
33 Malaysia 202,572,000,000
34 Saudi Arabia 200,900,000,000
35 Argentina 192,462,000,000
36 Mauritius 189,220,000,000
37 New Zealand 186,216,000,000
38 Chile 170,293,000,000
— Taiwan 170,138,000,000
— Puerto Rico 167,400,000,000
39 Kazakhstan 165,501,000,000
40 Qatar 159,200,000,000
41 Hungary 148,024,000,000
42 South Africa 142,833,000,000
43 Thailand 140,510,000,000
44 Czech Republic 137,606,000,000
45 Colombia 121,097,200,000
46 Cyprus 119,672,000,000
47 Ukraine 114,836,000,000
48 Venezuela 110,878,000,000
49 Romania 108,880,000,000
50 Malta 96,251,300,000
51 Israel 89,438,400,000
52 Slovakia 86,630,000,000
53 Pakistan 82,980,700,000
https://en.m.wikipedia.org/wiki/List_of_countries_by_external_debt

TrueSenator:
Election shouldn't be like premier league.......... We can tolerate the lack of certificate to occupy a sensitive office...but we shouldn't accept terrible results from most sectors What indeed was the manifesto of his campaign....abi na GEJ also increase the debt?


2019 is going to be very interesting.......... I just can't imagine the psych for a re-election? I can't imagine it

Hunger everywhere with increased debt and disappearance of NNPC billions....Na wahhhhh

jpphilips:



The stupidity in your destiny is hereditary, even devil himself will think twice pulling out such ignorant rejoinder. Those countries are in debt no doubt but have you paused for a sec to ask yourself why they are not overwhelmed? the reason is the nature of their debt, the US for example borrow in USD coincidently that is her local currency, the debt has little or no effect on their economy, unlike a country like Nigeria once we borrow in USD, we need robust investment mechanisms, trade surpluses to recover, (ie if there is any chance of recovery), there is a huge difference. also note that the more we borrow, the larger our debt servicing component of the budget, since recurrent expenditure is sacrosanct, we are actually trading capital projects for more debt servicing with no impact in our economy.
Over time, you are left with huge debt, high debt servicing and recurrent expenditure with zero infrastructure, unlike the countries you are drawing comparisons from with robust infrastructure. America in debt still spend billions of usd in foreign aid, have you bothered to figure out how that is possible?
Another point you must note is that those countries are actually owing themselves, take your time to dig out the financiers of World bank, IMF and ADF, with the exception of china's Exim bank you will be amazed how many countries on your list own those institutions, where does that leave us? If you truly love this country, you should advocate for streamlining recurrent expenditure and putting a cap on borrowing.

madridguy:
I blame the satanic umbrella party.

abimbolayekeen:
Despite all the money realised from the loot fund , buhari still want to borrow money to finance 2017 budget , buhari is a thief . It is better for him to heed to IMF advice . The government that is full of hypocrisy and propaganda , though , 2019 is nearer for Nigerians to decide who to take the mantle of leadership .

jpphilips:
Adeosun should learn what fiscal management and responsibility is, debt servicing is nearly eroding our federal budget, it is just a matter of time, capital expenditure will disappear while we service loans and feed the unproductive recurrent expenditure. A fiscal manager would ensure we trim our civil and political service, that way, we maintain a low recurrent expenditure while we service and spend on capital projects, I just wonder why Buhari has refused to take tough decisions on the economy like he did in other sectors especially, security.

oyb:


you know what happens once you try to trim our bloated civil service. was it not the proposed jvs with private partners that initiated kachikwu's being kicked upstairs?