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Nairaland Forum / Nairaland / General / Politics / Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 (8779 Views)
Zainab Ahmed: FG To Spend N6.72trn On Subsidy In 2023 / Zainab Ahmed: FG Exceeding Borrowing Threshold For 2021 / Abba Kyari: How FG Spent Millions Of Naira In Trying To Save Buhari's COS - SR (2) (3) (4)
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Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by adenigga(m): 5:07am On Jan 13, 2021 |
[b][/b] •N1.8tn released for capital projectshttps://m.punchng.com/Business/FG-spent-N6.46tn-on-debt-servicing-personnel-in-2020-Minister 1 Like
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Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by bibiking7(m): 5:54am On Jan 13, 2021 |
I am not an economist or accountant. However, I saw recurrent (non debt) expenditures taking 5 trn which is 44 percent. Does not sound too good. Also, debts servicing of this amount leaves little or no funds for capital projects and infrastructure. Then 3 trn for personnel cost. Which personnel? Then again, the budget deficit will be financed by further borrowing. Just tell us that we have double digit inflation, which one is "inflation is expected to remain above single digits". Sounds like scoping to me. Finally, first to comment is not beans. (I just had to add that) 31 Likes |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by dipotol: 5:57am On Jan 13, 2021 |
Hmmmm |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by nony43(m): 5:58am On Jan 13, 2021 |
What? This is over $10 billion and yet FG wants to borrow $5 billion to build railway with refurbished trains. How do we pay these debts? Did China borrow to build their country? For how long do we keep servicing these debts? Debt is a form of bondage...It is a financial termite. You cant be in continuous debt and significantly progress, that's why Nigeria is where we are. Our leaders lack sense, else they would have asked themselves why they are always borrowing, and never lending to any Nations 25 Likes 1 Share |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by AFONJACOW(m): 5:58am On Jan 13, 2021 |
Buhari na ole 5 Likes |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Rowlandjude(m): 5:58am On Jan 13, 2021 |
This country is really a shit hole. 3 Likes |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Racoon(m): 5:59am On Jan 13, 2021 |
This is too much a financial chunk to use for servicing personnel overhead cost.Dont borrow money recklessly because debt servicing is not debt payment. 8 Likes |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by jayworld15(m): 6:00am On Jan 13, 2021 |
Out of 10 trillion naira spent 3tr was used for Debt Servicing 3tr was used for Personal and Pension cost Over 110bn was used for Covid 19 1.8tr for capital project Over 5tr deficits enter 2021 We still dey borrow money from China, Brazil, Dormant Accounts; taxation upon taxation; hikes in goods and services; ridiculous begging of forfeiture of past loans etc My people, Wahala dey so oooooo 10 Likes |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by ednut1(m): 6:00am On Jan 13, 2021 |
Yet they plan to borrow more 6 Likes |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Luckydubby7(m): 6:00am On Jan 13, 2021 |
We are in trouble ooo The amount is just fucking too much nah. How did pdp managed Nigeria economy that we didn't experienced all these happening now. 16 Likes |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Hypemanshuga: 6:00am On Jan 13, 2021 |
Nigeria surviving on debt 1 Like |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by deeway200(m): 6:01am On Jan 13, 2021 |
These polithiefcians no dey fear at all. 2 Likes |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by dyera(m): 6:02am On Jan 13, 2021 |
The problem with Nigeria is that oyel money has killed their mind. Because of oyel money Nigerians have become so numb to creativity and enterprise that whenever they can't get enough money from oyel to finance their budget, the only plan that comes to their mind is to borrow money. And you wonder why Nigeria as a country is currently as poor as a church rat. A country of 200 million people managing a yearly budget of $25b in the 21st century is nothing but a joke. 7 Likes
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Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Peters95: 6:03am On Jan 13, 2021 |
How is that our business?? Egungun be careful |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Nairalandwizerd(m): 6:04am On Jan 13, 2021 |
As expected 1 Like |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by blackpanda: 6:04am On Jan 13, 2021 |
Empty heads here will come and complain because they have no clue what the topic is about. Smh I blame our educational system. Na so so copy and paste. |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by blackpanda: 6:06am On Jan 13, 2021 |
Luckydubby7: Pls name the project that was completed during pdp era I believe u are smarter than this |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by richeso: 6:06am On Jan 13, 2021 |
omg. i just lost words. |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by 4four(m): 6:06am On Jan 13, 2021 |
Almost or more than the halve of the whole year budget, darling daddy I hail ooo 1 Like |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Samfloxin(m): 6:07am On Jan 13, 2021 |
FG shared 6.46 trillion as palliative to themselves 1 Like |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Nobody: 6:07am On Jan 13, 2021 |
Racoon: Well, the Civil Service is bloated. But cutting down on personnel overhead means sacking lots of civil servants and clamping down on corruption...not politically popular. Cutting debt means cutting things like subsides in power, education, health, and oil, and paying higher taxes...again not politically popular. |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Kingoslo(m): 6:08am On Jan 13, 2021 |
How much go remain to finish Nigeria kpatakpata...? 1 Like |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Nobody: 6:08am On Jan 13, 2021 |
Luckydubby7: PDP too had debts as well...let's not lie. Debt servicing has been a common feature of our budget for decades. All because we rely on selling raw materials whose prices we don't control...and having imports which exceed the value of our exports, as well as spending millions on subsides in every aspect of our lives. 2 Likes |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by BigBizzy(m): 6:08am On Jan 13, 2021 |
yet idiots will still come out here to defend them. |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by N2B2: 6:12am On Jan 13, 2021 |
She also disclosed that the government released a total of N1.8tn for capital projects within the year. She noted that out of this, up to N118.37bn was released for COVID-19 capital expenditure. Swallowed funds, used to service their greedy belle. 600 years for all of them. |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Nobody: 6:13am On Jan 13, 2021 |
blackpanda: Well, we do...our economy is too heavily dependent on borrowing and borrowing. Which is why I tell you APC people....if you want actual economic change, then make sure your party changes the economy of Nigeria from a raw material dependent economy to a manufacturing economy, stop corruption, stop subsidies, and improve security. 1 Like |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Sunnycliff(m): 6:14am On Jan 13, 2021 |
Such a whooping amount of money on borrowed money. Debt servicing doesn't mean that the loan is being paid, rather the loan interest. That shows you how bad our future has been mortgaged by the APC government. 1 Like |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Nobody: 6:15am On Jan 13, 2021 |
“The honorable Member is living proof that a pig’s bladder on a
stick can be elected to Parliament.” |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Daguccizgreat(m): 6:15am On Jan 13, 2021 |
This shit hole is getting worse. 1 Like |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by sammyj: 6:15am On Jan 13, 2021 |
Buhari and his gang has finally sold us to the Chinese 1 Like |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by iokpebholo: 6:17am On Jan 13, 2021 |
Slackerpenguin2:PDp had debt but APC took it to a very unmanageable level |
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