www.ventures-africa.com/2014/11/will-nigeria-witness-another-borrowing-spree-in-2015/

Nigeria’s Debt Management Office says the country is expected to borrow $25 billion by 2015. The projected increase in borrowing by the government, according to DMO, represents the country’s foreign and domestic borrowings flowing from 2013-2015 under review.

DMO’s Director General, Abraham Nwankwo, in his presentation on Nigeria’s overall debt profile and expected borrowing for 2015, told the joint panel that with declining oil prices and upcoming elections expected to further dip into the country’s treasury, Nigeria, and Nigerians should brace themselves for the possibility of a second borrowing spree.

Nigerians need to keep asking WHY DO THEY NEED TO BORROW AGAIN?

In this 2015, despite dwindling crude oil prices in the international market, Nigeria government is targeting a daily earnings of about $148 million from exports of 2.2782 million barrels per day and at a benchmark oil price of $65 per barrel.

The analysis goes thus:

1.Crude oil prod/day - 2.2782M barrels
2. Current price = $65/barrel
3. Daily sales = 2.2782M x 65= $148million
4. Monthly sales = 148 M x 30days= $4.442billion
5. Yearly sales = $4.442 billion x 12= $53.309billion
6. Naira equivalent =53.309billion x # 200= 10,661,976trillion naira per year.
7. Nigeria's budget for 2015= N4.357trillion.

Now the question is: Where is d surplus going?

Even though Nigeria population is 200Millions, according to the analysis of daily earning from Crude Oil, $148M, every Nigerian is entitled to atleast N1,000,000 per day free (to be deposited into individual account).

148M x 200 = N29.6B daily
N29.6B/Nigerian population = means every Nigerian is entitled to almost 15millions Naira every day. In what way do you get yours?

The troubling questions now are:

Why are Nigerians POOR?
Why do our leaders still borrow money?
Why do they owe civil servants salaries?
Why do they refuse to increase Minimum wages?
Why is our electricity still epileptic?

.................

HERE ARE IMPLICATIONS
(1) NIGERIA HAS NO REFINERY
(2)NO BETTER SCHOOL
(3)NO BETTER HOSPITAL
(4)WORKERS WERE NOT PAID TOWARDS THE END OF
LAST YEAR
(5)NIGERIA EXTERNA DEBT HAS RISEN TO 10.4 TRILLION
(6)NO PIPE BORN WATER
(7)UNEMPLOYEMENT IS ON INCREASE NOW 30%
( NO GOOD ROAD
(9)NO TRANSPORTATION SERVICE
(10) ETC
LET THOSE WHO HAVE EAR TO HEAR!

Please can we find a truthful person to explain this to us!

God Bless Nigeria
God Bless Nairaland

N10,000,000x170,000,000

I don't believe this experts.

customized13:
N10,000,000x170,000,000

I don't believe this experts.

Give us your own explanations, pls. We need to know the unknown.

In your own knowledge, explain why minimum wages should not be N50,000

Moderators, pls this is an important thread for public opinions. Do the needful!
God bless

the remaining money goes to Jonathan and his clueless cabinet's pocket.....

money embezzlement is not corruption.......daft president

The analysis is completely wrong!


$148 million divided by 200,000,000 = 0.74 dollars per day.

So, if we earn $53 billion yearly, you get 265$ per person when divided by 200,000,000 (our estimated population).


However, if we had used our earnings from crude sale judiciously, we'd have become the envy of many western countries.

Looters everywhere in Nigeria.

I dont believe this figure...too too outrageous.

PassingShot:
If we had used our earnings from crude sale judiciously, we'd have become the envy of many western countries.

Looters everywhere in Nigeria.

Well said

wilsondave:
the remaining money goes to Jonathan and his clueless cabinet's pocket.....

money embezzlement is not corruption.......daft president

This is not a thread to criticise the personality of Mr President. This thing has being in system before Jonathan.

Sirniyeh:


Give us your own explanations, pls. We need to know the unknown.

In your own knowledge, explain why minimum wages should not be N50,000

170million Nigerians cannot get N10million daily. So you mean government should be giving 1.7trillion to Nigerians daily? This is even outrageous on a monthly basis.


Nawa oooo

It's like the person who did this sham calculation doesn't know the meaning of "exchange rate".

That Nigeria earns that amount per day doesn't mean that everything goes into the government coffers because the government are not the ones drilling transporting etc..There are private investors and oil companies involved .
All the government get is a cut .... In Libya which has the highest rate it is about 90% and that's why they don't have foreign investors in their oil sector apart from EMI... Here in 9ja it should be prob around 15% not sure sha oo

Wrong Analysis

kabayomi:
That Nigeria earns that amount per day doesn't mean that everything goes into the government coffers because the government are not the ones drilling transporting etc..There are private investors and oil companies involved .
All the government get is a cut .... In Libya which has the highest rate it is about 90% and that's why they don't have foreign investors in their oil sector apart from EMI... Here in 9ja it should be prob around 15% not sure sha oo

Brilliant explanation

Should i believe this analysis or not?

Even if this is true, i know our selfish polical leaders dont give a damn about us.

The OP is not inturn. Please click this article the question has been answered.

www.nairaland.com/2173833/total-revenue-generate-key-agencies

Very informating.

Firmjudge:
The OP is not inturn. Please click this article the question has been answered.

www.nairaland.com/2173833/total-revenue-generate-key-agencies

Very informating.

Weldone

Sirniyeh:


Weldone

Whoever wrote this article is an idiot