Out of $2.788 trillion disbursed in the first half of 2017, it said the Federal Government received N1.09 trillion, 36 state governments received N923 billion, while N549.8 billion went to 774 local governments in the country.

Fifthcolumnist:
Something needs to be done about this country soon before we ride into a catastrophic collapse. How a country like ours with a huge infrastructural deficit spend 40% of FAAC on debt servicing no wonder the biafrans want to run away dey want the "one Nigerians" to face the debts alone

and the one Nigerians after looking at the debt be like "naigeriya iza wan kantri and za unity is nan nagociabul"

SalamRushdie:
Is Buhari's 30 million pounds hospital bill part of this critical level foriegn debt?

docadams:


Hmmm

Shagari's budget in the early 80's hovered between N9 - 11b. How did it rise to N4.5t in Jona's time?

Seguntimmy:

.
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How I wish I can grant any of your request, you've entirely spoken my mind, that was what also came to my mind, 7trln, no development, citizens languishing in poverty, aso rock hospital gets nothing compared to private hospitals, where is the essence of massive budget?

docadams:


Hmmm

Shagari's budget in the early 80's hovered between N9 - 11b. How did it rise to N4.5t in Jona's time?

Akinz0126:



funny Man like serious if we no commot protest en mass wthout fear or favour we go just wake up 1 day we go hear say dem don sell 9ja cause na only few dey loot the money.dem go borrow money in the name of the masses them so siddon murder ram while we keep singing same song there is God Ooooo.if we no restructure now am sowi to say I pray this year won't be heaven on earth to we the masses compare to the hungar that'll strike us coming years let stand up for somthing it's now or never brethrens

SaiNigeria:
Its not all about killing a diseased Camel to celebrate the return of a leader who went AWOL for over 105 days.

We need to ask questions.......When the oil price was high, GEJ's highest budget was about 4.5 trillion Naira, but now that the oil prices is low, Buhari's 2016 and 2017 budgets have each been about 7 trillion Naira; both with nothing to show.

What is Mr integrity doing with the borrowed and recovered funds

Lakeland4321:
simple; Inglation as well as devaluation of the naira. These amongst other things made out trillion naira budget look worthless

Integrityfarms:
It baffles me as how this administration is fast mortgaging this nation into perpetual debt slavery

Subsidy was removed, stamp duty charges enforced, taxation raised, stolen funds recovered, yet we are borrowing more than ever before.....


Na God go judge apc matter...

SaiNigeria:


What is Mr integrity doing with the borrowed and recovered funds

trillville:
The debt is 90 percent local. This is a huge problem but solutions are available.

All the government has to do is further devalue the naira. Government's earns most of its revenue in USD. Devaluing the naira will increase the amount of naira the government gets from each USD earned from the sales of natural resources.

Issues to consider

1. Further devaluation would lead to increased hardship to the masses.
2. Government has not increased minimum wage since the last devaluation and people haven't recovered from its effects yet.
3. Government spends a bulk of its earnings on recurrent expenditure. This ensures the country remains in a state of under development.

Solution.
There is no easy way out. Government should take the advice IMF's gave as far back as 2015. Government should implement the structural adjustments fully.

This implies that government must reduce the size of its work force. Government should implement the oronsaye report.

Government must maintain one and only one exchange rate to prevent rent seeking.

Government must remove all forms of subsidies

Government must tax the richer in society to cater for the poor. Taxes should be progressive based on the value of property. E.g. estate tax and vehicle tax.

Government must focus on infrastructure that would benefit the masses, not civil servants, not the so called elite but the common man. Infrastructure such as
silo's for food storage, dams for irrigation and electricity production, building and renovation of schools and primary health care centres across the nation, etc.


Easier sad than done right?

almarthins:



See capital lies! How take know say na 30million pounds be the hospital bill. Omo eniyañ! Kai

trillville:
The debt is 90 percent local. This is a huge problem but solutions are available.

All the government has to do is further devalue the naira. Government earns most of its revenue in USD. Devaluing the naira will increase the amount of naira the government gets from each USD earned from the sales of natural resources.

Issues to consider

1. Further devaluation would lead to increased hardship to the masses.
2. Government has not increased minimum wage since the last devaluation and people haven't recovered from its effects yet.
3. Government spends a bulk of its earnings on recurrent expenditure. This ensures the country remains in a state of under development.

Solution.
There is no easy way out. Government should take the advice IMF gave as far back as 2015. Government should implement the structural adjustments fully.

This implies that government must reduce the size of its work force. Government should implement the oronsaye report.

Government must maintain one and only one exchange rate to prevent rent seeking.

Government must remove all forms of subsidies

Government must tax the richer in society to cater for the poor. Taxes should be progressive based on the value of property. E.g. estate tax and vehicle tax.

Government must focus on infrastructure that would benefit the masses, not civil servants, not the so called elite but the common man. Infrastructure such as
silo's for food storage, dams for irrigation and electricity production, building and renovation of schools and primary health care centres across the nation, etc.


Easier sad than done right?

docadams:


Hmmm

Shagari's budget in the early 80's hovered between N9 - 11b. How did it rise to N4.5t in Jona's time?

ofem707:
Its a Pitt that most of you commenting on the NEITI's write up on Nigeria's debts are illiterates. Go back and read the article again and stop blaming Buhari. Most of your said 7trllion budget is going for debt servicing. The article indicated that above 60 % of the FAAC released funds goes to debt servicing mostly local debts which means spending internally to fight recession and increasing more money in circulation. The debts way all your papa wet don rule owed before Buhari be that o.
Who even told you that Chaina has given Nigeria money? Read well do your findings before making unreasonable comments just because you hear the word debt and Buhari. Stop the hate comments as it amount to terrorism now. Then get a job to do please.