allcomage:
The way the country is structured and being run,there is no hope.

mknigeriagreat:
He should calm down. They are always full of negativity. Give solutions not alarms every-time. You want us to vote for you to come and chnage things isn't it? That's what all of you always say. This is USA debt for 2018.

PUSH1:


Where would the money come from if the government does not borrow.

How would the so called infrastructure be put in place If they don’t borrow. It’s like waiting till Nigeria have enough money to build all the infrastructures at once. I wonder if your guys have brain at all or just follow whatever some useless politicians says.

gurunlocker:


I believe you have problem comprehending... Did I say they shouldn't borrow?

The question is are they using it for the right purpose or just sharing some and using the rest to work?

Ugosample:


The question you should ask yourself is with all these heavy borrowings, what do we have on ground to show for it

We have an outdated yet overpriced scrap we call rail way projects
building substandard roads

And fuelling recurrent buexpenditure with a huge chunk of that money

I no wan vex this morning

post=70649548:
With Baba, we are FINISHED......on the WRONG path.
We CAN NOT believe in our PRESIDENT MUHAMMADU BUHARI , he is DESTROYING all he met on ground assiduously.
.

PVision2020:

Yes they are using it for the right purpose. Most of the debt incured by this govt are counterparts funding for developmental projects with China (like the rails, Dams etc) and sukok bonds for infrastructural development. Unlike previous govt that borrows to pay salaries.
Mind you, the 22.7T debt is Nigeria cumulative debt and not debts incured by this govt alone.
Even at that our debt to GDP is still at a healthy 35% compared to SA of over 100%.
Only an Economic neophyte like Peter Obi criminalises debt that's the reason why Charles Soludo criticized him when he was the governor of anambra. Peter obi's achievements was that he didn't borrow any money and that he saved, forgetting that govt is not a bank. A country with our huge infrastructural deficit has got no option than to borrow to meet up with the rest of the world.
Our yearly esusu budget of 40-50billion dollars will get us no where.

djon78:



I want to ask you one simple question? Do you know how much debt this present administration has incured in comparison to previous regimes?

You can say what you like but Peter Obi is not an economic neophyte. Peter Obi has ran an excellent private business successfully. How many governors in this present Nigeria left seat with surplus funds. Do you know what Peter did for education, health care etc. When he was talking millinial devepmental goals he was spot on. He is spot on what he was saying. Most of you are completely ignorant.

mknigeriagreat:
He should calm down. They are always full of negativity. Give solutions not alarms every-time. You want us to vote for you to come and chnage things isn't it? That's what all of you always say. This is USA debt for 2018.

kennypoju04:
Ever since the last administration the economy has been on life support

Get your Chinese yuan at #50/¥

djon78:



I want to ask you one simple question? Do you know how much debt this present administration has incured in comparison to previous regimes?

You can say what you like but Peter Obi is not an economic neophyte. Peter Obi has ran an excellent private business successfully. How many governors in this present Nigeria left seat with surplus funds. Do you know what Peter did for education, health care etc. When he was talking millinial devepmental goals he was spot on. He is spot on what he was saying. Most of you are completely ignorant.

PVision2020:

As at March 2015 Nigeria's debt burden was around 12.5T.
https://www.vanguardngr.com/2015/07/n12trn-debt-profile-worsens-nigerias-woes/
Now consider the fact that OBJ cleared our debt, Gej incured this debt when crude was selling for as high as 120$ and production was at it peak of 2.2m barrel/day with a readily available market due to the Arab spring at the time. Also the exchange rate was at an average of 180#/1$ for the whole of GEJ's regime compared to 400#/1$ average of the Buhari regime. GEJ govt depleted the reserve left behind by OBJ despite availability of surpluses with little infrastructure to show for it.
Considering all this factors, a good Economist will tell you that Nigeria under Gej borrowed far more(if not double) than this regime. Buhari borrowed, first clear the backlog of salary arrears through bail out funds to states. The drop in crude oil price to 28$ which led to recession also left the govt with no choice than to borrow and a larger chunk of the remaining debts were counterparts funding for infrastructural development.

As regard Peter Obi, you can't access him better than a renown Economist (Charles Soludo) who tagged him a failure.

djon78:



Totally falsehood.
This regime incured more debt than Gejs regime.
You are now quoting soludo abi?
Peter Obi has better economic record than even soludo. Soludo is more of a theorist while Peter has practicalised it and got results. Even till today Anambra is still on solid economic seating. Privately Peter has achieved greatly.

What business has Buhari ran before?

PVision2020:

I provided you with facts and figures, why not counter any of my claims with your own facts and figures? Or is vanguard newspaper which I quoted also peddling falsehood?
My problem with you guys is that you choose to believe what you want to believe even when facts are staring you at the face, your fuel is sheer HATE.

Regarding Peter Obi, you can believe he his a better Economist than Soludo, but the rest of the world believe otherwise.

post=70649548:
With Baba, we are on course......on the right path.
We believe in our PRESIDENT MUHAMMADU BUHARI , he is clearing the mess he met on ground assiduously.
Bless you sir.

PVision2020:

Yes they are using it for the right purpose. Most of the debt incured by this govt are counterparts funding for developmental projects with China (like the rails, Dams etc) and sukok bonds for infrastructural development. Unlike previous govt that borrows to pay salaries.
Mind you, the 22.7T debt is Nigeria cumulative debt and not debts incured by this govt alone.
Even at that our debt to GDP is still at a healthy 35% compared to SA of over 100%.
Only an Economic neophyte like Peter Obi criminalises debt that's the reason why Charles Soludo criticized him when he was the governor of anambra. Peter obi's achievements was that he didn't borrow any money and that he saved, forgetting that govt is not a bank. A country with our huge infrastructural deficit has got no option than to borrow to meet up with the rest of the world.
Our yearly esusu budget of 40-50billion dollars will get us no where.

djon78:



In Nigeria, Africa’s largest economy, the current state of affairs, of a growing public debt profile is scary, particularly since 2015 when the Muhammadu Buhari administration came into power. According to the Debt Management Office (DMO), Nigeria’s total debt has increased by about 90% in almost three years from about N12.6 trillion in December 2015 to about N22.71 trillion as at March 2018. The DMO figure indicates that total public debt prior to the 2018 budget stood at about N21.17 trillion. With the N1.95 trillion budget deficit of the 2018 budget and the $475 million loan agreement recently signed with the French government, following the recent visit of the French President, Emmanuel Macron, total debt will stand at about N23.645 trillion with debt service likely to increase beyond the N2 trillion provision in the budget.

Called from Guardian Newspaper
https://www.google.com.ng/amp/s/guardian.ng/opinion/halt-nigerias-rising-debt-profile/amp

From after Obasanjo paid off our debt 2006 till 2015. Nigeria's debt was 12.6trillion but this present regime has increased the debt over 90percent.

Well as for Peter Obi we judge based on records not a clime where incompetent and very clueless people are in control of things. No wonder Nigeria keeps on running around in circles. And this is the man they want to bring back in 2019.

trillville:


The highlighted statement you made above is highly deceptive. It is true that our debt to GDP ratio is low relatively to other countries but our governments revenues (ability to pay debts) to GDP is also one of the lowest on earth. Our tax to GDP ratio is 6 percent.(Bill Gates spoke about increasing this by raising taxes to fund education and healthcare).

Back to the matter.

Nigeria has a very low tax rate so government lacks the ability to raise revenues to pay it's debts.

Nigeria also has the highest number of extremely poor people and the 5th highest percentage of people living in extreme poverty on earth.
Interestingly, only 14 countries have populations that are increasingly getting poorer, 3 of which are OPEC members( Nigeria, Angola and Venezuela). One would wonder how countries without crude oil are getting their people out of extreme poverty.

Facts gotten from www.worldpovertyclock.org