Racoon:

https://punchng.com/debt-servicing-to-gulp-123-of-2023-revenue/?utm_term=Autofeed&utm_medium=Social&utm_source=Twitter#Echobox=1670808013

And someone still want to retain APC, God forbid BAT thing.

1.Reflects failure of govt to diversify the sources of revenue adequately enough.

2.Also reflects that there has been very low oil prices from 2014 to 2021, and the low oil prices means we get to take more loans, and the loans have to be paid.


And some people want us to vote APC again...

If the total budget in whole is 100%
Where dem get d remaining 23%

For us way no break chalk

A failed system of government indeed!

See eee, if Nigerians fail to elect Peter Obi next year ee, everyone will suffer the calamity that will befall the nation. Make Una continue to day play tribal and religion politics over competent.

One of many APC legacies



*Half plot of land for sale in ikorodu*

Location; eyita ojokoro ikorodu Lagos Nigeria, very close to major areas in ikorodu like ikorodu garage, sabo market, banks and malls

Documents; deed of conveyance and receipt

Price; 1.5m negotiable

Note; land is a bit wet but very close to the main road and in a built up environment.

Ochemicals:


It seems the whole Jonathan corruption thing was propaganda.
This is what they aimed at. I cannot imagine what APC would have done if this was the case in 2014.
Pdp is not good in opposition.

And u think it wasn't propaganda to remove Jonathan in government?

That's why one must leave above board to filter truth from fallacy during campaign.

Thunder fire you there. Ewu

handsomeyinka:
Tinubu is coming to fix it.

MrHighSea:
Even America is owing.

Debt is not bad as it was used to lift Nigerians out of poverty, procure weapons to subdue insurgents and improve agro production.

One day, China will zip-line into Asovilla in ninja style and arrest whoever is the president, compel us to speak mandarin and pay huge tax in yuan.

It might be what we need to vote without tribe, religion and party.

You are not very smart and I would tell you why.
You claim the debts pull Nigeria from poverty but in reality, we have become the poverty capital of the world.
Then you talk about procuring weapons. Before the debt, we had security problems mainly in the NE but after buying the weapons we now have security issues in the NW, NE, and SE.
Finally on Agriculture, food is getting many times more expensive.
We just wasted billions and now we can't pay back.

bjtinz:
Well, if it's terms of critical infrastructure, particularly roads, you really can't in good conscience fault this govt. One can clearly see the impact

Recently drove from Abuja to Makurdi, and what used to be nightmare is now sweet, smooth double lane all through, save for some few portions.

FYI not a fan of this govt, BTW

Oga sit down. How can you borrow to build or repair roads when these are depreciating assets. Before you have started repaying the principal the roads have gone bad again locking you permanently in a vicious cycle of debts.

What makes for roads. Bitumen which we have naturally and other earth materials, cement which we produce locally. Only steel products which we have refused to establish locally is a challenge, so why do we need to take foreign loans to build roads and bridges when almost all the cost is local.

Can you see that a lot of these loans are frivolous and just a means of propping up some individuals and companies in this contractors paradise.

Who runs a business like this? Takes a thriving business and run it aground. Take loans and loans to bury it.
Its just like that friend you have, you work in the same office, live in same area, earn the same salary but this guy is an expert with all the loan apps. He can never live within his means, he is so indebted, all his salary goes to servicing paylater, sokoloan, palmpay etc.
Imagine that same person is now given political office and has to handle billions.
Will you even consider such to run your personal business?

Racoon:

https://punchng.com/debt-servicing-to-gulp-123-of-2023-revenue/?utm_term=Autofeed&utm_medium=Social&utm_source=Twitter#Echobox=1670808013

While some useless people still clamoring for the government to continue it legacy, on a long run they forgot it will definitely affects all of us as a country, today fuel is 300 sold triple of what Nigerians protested for during Good luck Jonathan govt but nobody is talking about it….Some of us deserve something worse than Buhari

MrHighSea:
Even America is owing.

Debt is not bad as it was used to lift Nigerians out of poverty, procure weapons to subdue insurgents and improve agro production.

One day, China will zip-line into Asovilla in ninja style and arrest whoever is the president, compel us to speak mandarin and pay huge tax in yuan.

It might be what we need to vote without tribe, religion and party.

Which Nigerians dem use the debt to lift out of poverty o? Which insurgent was subdued, which weapons were procured and lastly which agro production was improved gangan?
Let’s call a spade a spade when we see one, this govt is the most corrup+ Govt we’ve ever had in this country!

owobokiri:
The more reason why Nigerians should be very careful in terms of who they will vote for as the president next time. Always always be careful of candidates that constantly prioritize their loyalties to the western world more than Nigeria

All these people going to meet westerners in Washington and London before every elections are the ones responsible for this. They have traded off the country for political support to be president

It's the main policy of the imperial Western world to dubiously budden developing states with excruciating loans in other to turn the people into slaves in their own land.

As it stands today, Nigerians are working for the Western world through the interest payments on the dubious loans obtained from different western financial institutions by Evil government imposed on us by Obama and Cameron!

Remember their support for Buhari? Buhari has payed back through the loans but we are all bleeped now!

Typical lazy man mentality. Always blaming others for their misfortunes.

Nawa

Ened:

Typical lazy man mentality. Always blaming others for their misfortunes.

You just advertised your ignorance and illiteracy
Clap for yourself

handsomeyinka:
Tinubu is coming to fix it.

Exactly how Dey think, see dem

The same people who were saying Buhari will turn $1 =1 Naira are the same people pushing another failure, Infact two failures.
One is threatening to sell and privatise every every
The other can't even make coherent sentences.

Debt servicing 123% of revenue.
Nigeria needs a deliverer.
Collect your PVC
Vote wisely.

Racoon:
Hope the govt and its hoardes of high graded mummified zombies are well pleased now? See how the failed clueless, senseless, inept and corrupt government of super-looters chronic borrowers have bequeathed to a once 3rd fastest growing economy in Africa and the world?

They were reminded that debt servicing is not the same as debt payment, fools claimed they are wise bit instead are stupidly mortgaging this already battered nation into chronic financial indebtedness. What a bunch of dimwits.

Please you people should stop misinforming the general public.

If you are servicing a debt, it means you are paying both the principal and interest according to agreed terms.

For instance, if Nigeria borrows $12 million from China and agrees to pay $1m every month for 12 months, it is the principal.

However, because China lent Nigeria money and needs an interest of $600k over 12 months, Nigeria may decide to be paying $50k every month.

So, debt service means that Nigeria pays principal ($1m) and ($50k) every month. This makes it $1.05m every month.

https://www.investopedia.com/terms/d/debtservice.asp

These incompetent Northerners have killed us!!! Kai!! Lugard why??!!!!

Racoon:
Hope the govt and its hoardes of high graded mummified zombies are well pleased now? See how the failed clueless, senseless, inept and corrupt government of super-looters chronic borrowers have bequeathed to a once 3rd fastest growing economy in Africa and the world?

They were reminded that debt servicing is not the same as debt payment, fools claimed they are wise bit instead are stupidly mortgaging this already battered nation into chronic financial indebtedness. What a bunch of dimwits.

fools like FFK and other money grabbing fools would come along to tell you every nation borrows...just take a look at how our revenues would be eroded..

bayelsaowei:
fools like FFK and other money grabbing fools would come along to tell you every nation borrows...just take a look at how our revenues would be eroded..

There will be massive taxation in 2023 to make up. Expect all manner of levies similar to what is happening in Lagos particularly if the APC wins, including a revisiting of the VAT rates. Things will be excruciatingly expensive next year. Strap in tightly.

Asiwaju will fix it

tctrills:

You are not very smart and I would tell you why.
You claim the debts pull Nigeria from poverty but in reality, we have become the poverty capital of the world.
Then you talk about procuring weapons. Before the debt, we had security problems mainly in the NE but after buying the weapons we now have security issues in the NW, NE, and SE.
Finally on Agriculture, food is getting many times more expensive.
We just wasted billions and now we can't pay back.

Smarty reading without comprehension, already ranting. Go study Figure of Speech and pay close attention to Irony.

I sincerely hope that Nigeria is not heading towards Germany in 1944, Venezuela (also an oil producing country by the way), Zimbabwe, Greece and recently Sri Lanka.

For a country that produces nothing they should never borrow for recurring evpenditure because the currency is not leveraged, but if the loans where used for capital expenditure then the projects needs to be tolled ASAP.

Everyone wants a better Nigeria are we willing to pay the price?

Nigeria evidently has a revenue generation problem. Of the 4 frontline candidates, which has successfully tackled Revenue problem in the past? That will inform who to vote for.

MrHighSea:

Smarty reading without comprehension, already ranting. Go study Figure of Speech and pay close attention to Irony.

You clearly don't understand how and when to use an irony.

tctrills:

You clearly don't understand how and when to use an irony.

It should be used when semi-literates are in the building.

Don't blame me for your deficiency.

English na borrowed language abeg.

Buhari and the 40 thieves
We need to recover the loans from politicians