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Nairaland Forum / Nairaland / General / Politics / ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits (15896 Views)
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₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by MANDIPUTIN: 6:05am On Feb 02, 2022 |
The Federal Government admitted on Tuesday that the country’s economy is in crisis, with a debt service bill of ₦4.2 trillion in 2021. https://www.sunnewsonline.com/4-2-trillion-debt-service-economy-is-in-real-crisis-fg-admits/ 2 Likes 3 Shares
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Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by BigDawsNet: 6:11am On Feb 02, 2022 |
wow FG Admits!! The country haff finish patapatta bii that God send down a helper 89 Likes 2 Shares |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by Racoon(m): 6:11am On Feb 02, 2022 |
Nope! Nigeria is good to go as the debt to debt servicing ratio is still tolerable. After all; - "Nigeria must continue to borrow as we have not borrow enough" - Finance Minister/ Ahmed Lawan. - "China is not more giving us loans.We are now turning to Europe." - Rotimi Amaechi Bunch of looters in government. 77 Likes 7 Shares |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by opalu: 6:11am On Feb 02, 2022 |
Okay. When the Senate President has hundreds of PAs including Professors who are supposed to be in their Universities teaching undergraduates. You pay them millions in salaries and allowances. Not to mention the lootings. Such excesses are the reason why Nigeria keep servicing debts with trillions of dollars. This Democracy is too Expensive. We need a lean Government that is not frivolous 116 Likes 7 Shares |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by dimexy247(m): 6:11am On Feb 02, 2022 |
One chance, mumu government, does admittance settle the bills? I have never seen a clueless government as this one. Bunch of shameless fools. As if they don't know already, is it today the economy just entered crisis? 35 Likes 2 Shares |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by buygala(m): 6:12am On Feb 02, 2022 |
Buhari will handle insecurity Osibanjo will handle economy Insecurity and Economy : 147 Likes 11 Shares
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Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by John389(m): 6:12am On Feb 02, 2022 |
Na now day break for una eyes!!! 20 Likes |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by Akwamkpuruamu: 6:12am On Feb 02, 2022 |
Yet the Dullard keeps borrowing. Sheybi finance minister said we still have the capacity to borrow. Make una continue. Thank God I go soon Japa comot here. My kids can't be paying for a debt they know nothing about. On how APC Zombies keeps supporting this mannequin daddy to continue borrowing remains a mystery beyond the seven wonders of the world. I pity who go be the next president of the zoo, him go hear am! Anyway na A looter continua shaa! 28 Likes 2 Shares |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by CryptoTeacher(m): 6:13am On Feb 02, 2022 |
It must have been very bad really 1 Like 1 Share |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by MEGA4BILLION(m): 6:13am On Feb 02, 2022 |
So Ahmed Lawan is trying to tell us he didn't know the economy will be messed up when he was busy approving loans. Op why the picture of Osibanjo instead of the rubber stamp senate president that specialises in approving loans, 25 Likes 3 Shares |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by Oduduwa707: 6:13am On Feb 02, 2022 |
Trillion Dollars? You actually mean Naira. Poor Journalism... Shows writer doesn't understand the value of currencies. OP, can you please make a correction to the currency? It can NEVER be in Dollars na... Even U.S, the world biggest economy doesn't owe that much in Dollars. 55 Likes 5 Shares |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by AntiMen: 6:13am On Feb 02, 2022 |
Stay away from Fiat guys, It's better to put your money in a stable crypto coin. 3 Likes |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by WhatCanIsay(m): 6:13am On Feb 02, 2022 |
Where are those that lauded the incessant borrowings of this clueless government The worst aspect is that you and I cannot point to anything sustainable that those trillions were used for! A government that looted the treasury and wasn't satisfied to the extent that it had to borrow to loot more. Abacha is a boy compared to this Buhari's government in terms of looting. Next year election, some people are already clamouring to vote in another person that wears the same cloak as Buhari when it comes to borrowing. The worst is that Buhari and co are old men that might not live far enough to see the deplorable state they have sunk this country into. 10 Likes 2 Shares |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by buezeemeka(m): 6:13am On Feb 02, 2022 |
Our country goes no where with this debt. NOI should be consulted again for the way forward 1 Like 1 Share |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by Nobody: 6:14am On Feb 02, 2022 |
As long as we remain dependent on one source of income, we will always be in debt. It follows that oil prices have never been as high as we want them for ages, and as a result we have to take loans to survive, which is why we are in debt. Keep in mind that being an oil dependent nation does not mean we are rich, unless our population is low enough. Nigeria must diversify away from oil if we must survive and reduce our debt. Modified Nigeria’s tax to GDP ratio is one of the lowest in the world. It is at about 8 per cent while our comparators are in the neighborhood of about 15 per cent to 25 per cent. Even in Africa we can surely do better. This is symptomatic of undue reliance on oil revenue as a result of fiscal imbalances in our nation’s financial landscape. 1 Like 1 Share |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by LollySeaSide: 6:14am On Feb 02, 2022 |
In his remarks, Vice President Yemi Osinbajo had lamented that the Nigeria’s tax to GDP ratio is the lowest in the world while its comparators are in the neighborhood of about 15 per cent to 25 per cent. Osinbajo spoke through the minister of finance and the minister of finance spoke through the permanent secretary. So who spoke at the event? A. Osinbajo the Vice President B. Zainab the finance minister C. Aliyu the perm sec. Next time, the permanent secretary should also try to speak through Magaji his personal assistant who will in turn speak through Rukayattu his personal secretary to be able represented by Hameedat the front desk officer. 31 Likes 4 Shares |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by sammyj: 6:14am On Feb 02, 2022 |
: Lot more of this corruption called loan will be revealed after the exit of this government o 2 Likes 1 Share |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by Nobody: 6:14am On Feb 02, 2022 |
Growing without a plan or a capable leader. Owing so much money the future will have problems paying back. Only time will tell! 3 Likes 1 Share |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by Muyiwaipere(m): 6:15am On Feb 02, 2022 |
Them don Surrender 2 Likes 1 Share |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by Thorondor: 6:15am On Feb 02, 2022 |
Is it trillion naira or dollArs? 5 Likes |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by samijet: 6:15am On Feb 02, 2022 |
This is serious. 1 Like |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by iokpebholo: 6:15am On Feb 02, 2022 |
Las las zombies must have sense..una never see something... Nobody should tell me about one useless infrastructure oh cos d road from Abuja to my state is very bad 2 Likes 1 Share |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by Smithkafors(m): 6:15am On Feb 02, 2022 |
Bring Peter Obi on-board now!. Stop tribalism before e go worse. 8 Likes 2 Shares |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by OGBEREIJEBU: 6:16am On Feb 02, 2022 |
Hope all these trillion dollars dey correcting cos I am confused 1 Like |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by spy24(m): 6:16am On Feb 02, 2022 |
I hate to say this but most of this hausa Fulani politicians are not smart enough to run a country 9 Likes 1 Share |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by chisamoo(m): 6:16am On Feb 02, 2022 |
MANDIPUTIN: They are on their way to beg Europe for more loans ��� 2 Likes 1 Share |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by samsard(m): 6:17am On Feb 02, 2022 |
Definitely can't be trillion US dollars. 7 Likes |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by Subsea101: 6:17am On Feb 02, 2022 |
Good morning FG, na now una wan wake up? 2 Likes 1 Share |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by Sweetpink: 6:18am On Feb 02, 2022 |
OMG!!! Buhari and his bunch of incompetent fools have finally destroyed this country and I really pity our next president because he will inherit a whole lot of MESS!!!! 7 Likes 1 Share
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Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by Ola17: 6:18am On Feb 02, 2022 |
4.2 trillion dollar Abi 4.2 trillion Naira? Is the entire Nigerian economy worth up to $4.2 trillion? 10 Likes |
Re: ₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits by samijet: 6:18am On Feb 02, 2022 |
Op! 4.2 trillion naira please. 8 Likes 1 Share |
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