wow

GenBuhari: We are bankrupt

its obvious

oya Nairaland e rats over to u, Shebi na jonathan abi?. Oya start!

MadCow1: I thought Oby paid up all our debt?!


SO who the fhuck borrowed more money from Loan Sharks?!

Thing about a share the oil money economy....you use the cash to import,and import.....and the said imprts are too expensive....and you need more money to continue the importing. So....you pay a visit to the bank.(The World Bank....probably the only bank in the world that exists to lend money ONLY).

bushdoc9919:

Oh dear....paucity of thought.

hahahahahahahahaha!!! Dnt tel me u edited dat pix because of muah:...... Huhuhuhahahahehe..."paucity" i no undastand *confused*

Nigeria is sinking deeper in debt yet some old buffons are still agitating for additional state creation when some states are not even viable. A country where the annual budgets recurrent expenditure is in the excess of 70%. NIGERIA IS DOOMED

Make I book space sharp sharp, op abeg I wanna be the last to comment.

[b]Where crude oil (and gas) is the booming export sector, the non-oil export sector may be crowded out by the oil sector and the non-tradable goods sector of the economy. This can happen when the oil revenue windfall increases domestic demand for non-tradable goods and pushes up domestic prices leading to an appreciation of the real exchange rate which in turn reduces the competitiveness of the non-oil export sector. [/b]This will in turn lead to a reduction in non-oil exports in both quantum and value terms. The oil windfall may also lead to movement of the factors of production in the economy. For instance, capital and labor (and land) may shift from the non-oil export sector to the oil sector (in order to maintain or increase reserves and production) and the non-tradable goods sector (to take advantage of the growing domestic demand). [b]This explains why the increase in oil prices and the subsequent oil revenue windfall in many oil-exporting countries have tended to depress their non-oil export sector while at the same time generating a boom in both the oil and the non-tradable goods sectors. [/b]With capital and labor shifting from the non-oil export sector to the oil-sector and non-traded goods sector, firms in the non-oil export sector are forced to either close down or reduce their scale of operation. The boom in the oil and non-traded goods sector increases the demand for imported goods. This may not be a problem in the short-term so long as the country has enough foreign exchange to pay for the imports. The depression in the non-oil export sector and the boom in the other two sectors have medium to long term implications for the economy because the oil windfall will not be permanent given the volatility, unpredictability and exhaustibility of crude oil.[size=20pt] For instance, if there is a decline in oil prices and oil revenue, the lagging and collapsing non-oil export sector will not be able to compensate for the drop in oil revenue while domestic demand for the non-traded goods and imports remain sticky. Consequently, the country will be forced to borrow from the international financial market to compensate for the decline in oil revenue. Over time, external debts will increase and so will the debt service obligations. Even when oil prices go up later and there is another round of oil windfall, it is difficult to correct the earlier damage or distortions created by the initial or previous oil windfall. In some cases, the oil exporting country may be forced to adopt some form of structural adjustment program (SAP) to correct such distortions or imbalances. Some of these SAPs are painful and may increase the prevalence, depth and severity of poverty. [/size]


Above from the article: MANAGING THE DUTCH DISEASE IN NIGERIA by Dr. Emmanuel Ojameruaye. Published in 2004

They also hope that Ebola will bring more economic woes to Nigeria.

Nicely written script.

This report has confirmed my earlier position that Jonathan is operating a Government of Fraud. When President Obasanjo came to Power, Nigeria's External debt was $35bn. President Obasanjo successfully cleared the debt and left a Reserve of about $45bn. In contrast Jonathan has depleted the Reserve and has punged us into a huge debt.

Jonathan must be kicked out of power in 2015

FRESH AIR EVERYWHERE

Yet whenever the results of NOI Polls are published, a picture of a blooming paradise is painted to the satisfaction of the patrons of the Coven of Darkness and their online and offline minions!!!

Jonathan's admin is an all rounder when it comes to failure!! #Fact!

barcanista: This report has confirmed my earlier position that Jonathan is operating a Government of Fraud. When President Obasanjo came to Power, Nigeria's External debt was $35bn. President Obasanjo successfully cleared the debt and left a Reserve of about $45bn. In contrast Jonathan has depleted the Reserve and has punged us into a huge debt.

[s]Jonathan must be kicked out of power in 2015[/s]

Jonathan must remain in power until 2019

benswagtt: hahahahahahahahaha!!! Dnt tel me u edited dat pix because of muah:...... Huhuhuhahahahehe..."paucity" i no undastand *confused*

Ok...continue as before.

Although the debt to GDP ratio is only 12%, the govts (both federal and state) should curtail their borrowing tendencies. After all, the GDP cannot repay the debt, only government revenue can.

The FG's share of the debt is around $54bn, but it's revenue hovers around $30-odd billion. When the foreign reserve is added, the FG can barely pay off its entire share of the national debt.

barcanista: This report has confirmed my earlier position that Jonathan is operating a Government of Fraud. When President Obasanjo came to Power, Nigeria's External debt was $35bn. President Obasanjo successfully cleared the debt and left a Reserve of about $45bn. In contrast Jonathan has depleted the Reserve and has punged us into a huge debt.

Jonathan must be kicked out of power in 2015

That's not the sad thing. The sad thing is that people still want him there just to satisfy their sentiments.

space









booked.

CFCfan: Although the debt to GDP ratio is only 12%, the govts (both federal and state) should curtail their borrowing tendencies. After all, the GDP cannot repay the debt, only government revenue can.

The FG's share of the debt is around $54bn, but it's revenue hovers around $30-odd billion. When the foreign reserve is added, the FG can barely pay off its entire share of the national debt.

Yes. Both State and FG should stop their unnecessary borrowing.

Hhhmmm!!! See dis pple, i neva chop dem dey accummulate debt. Make una do una own, wen i get dere i go accummulate 4 my own successor.

This is what you get from "chop make I chop" mentality. This obscene depravity obtains regardless of the party that holds the centre. It is a shame when young people admit that they'd do likewise if given a shot at governance.

I think it is safe to declare Nigeria a failed state. We are in a "free-for-all" situation after all. Every man provides leadership and amenities for himself. Shame.

bushdoc9919:

Ok...continue as before.

i doesnt like wat u ah doin....

Sweetlemon:

That's not the sad thing. The sad thing is that people still want him there just to satisfy their sentiments.

not people but a section of the population. Their numbers can't return him to power. We know them

UrbanMystique: really? how old are you?

he might probably b ten buh if even at dat a ten year old sude b able 2 knw or tell wot d future will look like.

Tymax: This is what you get from "chop make I chop" mentality. This obscene depravity obtains regardless of the party that holds the centre. It is a shame when young people admit that they'd do likewise if given a shot at governance.

I think it is safe to declare Nigeria a failed state. We are in a "free-for-all" situation after all. Every man provides leadership and amenities for himself. Shame.

Nigeria is not a failed state. Nigeria Government led by PDP is a FAILED Govt.

Electing jonathan again will cripple nigerian economic,my people be wise,vote for competent leaders not looters.

Gold-plated iphones.........

Don't think I have time 2 continue reading that.

When will pay off d debt?
Does it concern d citizens?

I pray govt. won't increase our taxes so they can clear off that debt.

Just thinking aloud sha.

Nigeria - giant of debts.

I wish them the best. Ride on.

if u had kept quiet, no one would know u were a cretin!!!!!

benswagtt: *dancin skelewu* hw e take concern ma future? Dats dia 4kin cup of tea!!!

barcanista: Nigeria is not a failed state. Nigeria Government led by PDP is a FAILED Govt.

Are u saying APC is made up of better stock?

rutibaby: Don't think I have time 2 continue reading that.

When will pay off d debt?
Does it concern d citizens?

I pray govt. won't increase our taxes so they can clear off that debt.

Just thinking aloud sha.

Nigeria - giant of debts.

I wish them the best. Ride on.

The FG need a sincere Fiscal policy. But the Government of Fraud led by Jonathan don't care about the future of Nigeria. They are more interested in enriching their accounts and holding on to power.

Hope someone wont threaten to feed GEJ with poo and lacasera? #justsayingoh