obonujoker:


Really Vedaxcool went to look for what to lie with.... that is his duty...

And na Debt management office release this.

vedaxcool:


Not everybody is unemployed and jobless like your self who meal ticket is hinged on the number of anti government post you can make on nairaland... the bigger shame is the N12TRN /your food master Jogogoro dump on future Nigerians to repay despite having high oil prices yes due to his gross ineptitude and corruption. PMB on the other hand met an empty coffer and a country in the verge of systemic breakdown, he bailed out states paid debt left by your lord of corruption and many other debris.

By God's grace I can add to what BMC pays and give you monthly. Never sow evil; you will reap trouble abundantly based on what you sow you reap in more folds

clarocuzioo:
Borrowing increased, subsidy was removed, TSA was fully implemented, EFCC recovering billions of dollars, taxes skyrocketed, highest budget so far in the history of this country, yet we are not seeing things that are comesurate with these heavy funds. God help this Nation.

Nice writeup but God ain't gonna help a country with wicked leaders

Omooba77:


http://punchng.com/fg-states-borrow-n7-51tn-under-buhari/

Kai what an abomination? Just under two years for which nothing can be accounted for ? Nigeria is finished !

Get your Bitcoin ATM/Debit card used worldwide for $15

Get it here https://cryptopay.me/join/0d06c949

And this government said Nigeria is "out of recession"? Not even minding that our mono oil economy is at an abysmal low level.Nigeria will not survive this.APC weldone.

for me...with a very large depletion of the govt revenue through a large short fall in the pre of oil : the govt main revenue accumulator..i think borrowing us the best option...the govt has not done anything wrong in borrowing...if they dont..then dey have to self finance which will certainly send many nigerians to thier early grave...trust me..that a ryt move in the ryt direction from the FG

wetin apc use d money do?

amjoseph19:
They amount of stealing going on in this present administration is worst than that of Obj, yaradua and Gej combined.

When this administration is done and a new set take, then we all know the full meaning of corruption.

I didn't notice any stealing in yaradua administration, maybe cos I love him so much

Does Nigeria look like a Country that borrowed even N2trn

Well, I am not surprised.

This is what happens in an oil dependent economy.

You borrow when price of oil falls to meet the needs you met when oil prcies was high.

Consider this

January 2014: Oil was at $100 and above per barrel

January 2016 : Oil was at $29 and below.

In other words....Nigeria was not making enough cash from the oil kudi....so we had to take loans to keep the economy on track.

And the thing is...there is a solution....ie spending more on supporting infrastructure with the aim of making Nigeria a self sufficient exporter of manufacturer goods.

But that solution means some more years of hardship...which is why this govt wants to wait for oil prices to rise again so that we can go back to our bad habit of resource dependency (and wasting millions importing biscuit, toothpaste, cars, etc).

Ah well....as someone said yesterday...Dutch disease.

Nawao wey de money wey EFCC recovered abi na fake publicity stunt Nigeria and Nigerians don enter one chance...... We see Nigeria dey enter bus ooo na one chance bus ooo

richidinho:


No, the 12trn debt is since 1960 bro!

God bless you

We need Abubakar Atiku he would really make the difference come 2019

When you have a beautiful daughter who is loved by a prince and you go a borrowing in her name because she might end up in the palace. When she dies before her marriage,how do you pay back your debt?

Somebody should explain to me where and how we intend to repay when Oil becomes almost useless!

vedaxcool:
Meaning Jonathan left Over N12 trn debt on Nigeria

another blame for Good luck? funny people....

Paperwhite:
And this government said Nigeria is "out of recession"? Not even minding that our mono oil economy is at an abysmal low level.Nigeria will not survive this.APC weldone.

We are out of recession....that is the truth.

The issue is that when we were in recession , we had to take loans to keep our economy afolat due to oil losing its value...from $100 in Jan 2014 to $29 in 2016.

That is what happens when you rely too much on selling one or more resources , once the price goes down, you have to take loans to maintain the same level of lifestyle. Or else...run really severe austerity govt (while spending more on power, rail, etc...so that we become a manufacturer).

Now...PDP should have saved money under GEJ . But even if GEJ saved...it would not have mattered much so long as oil stayed below $60.

[s]

bangging:
another blame for Good luck? funny people....

[/s]

Another pain for Goodluck.

divinehand2003:
And you want Buhari to return in 2019 abi? You will have a ghost as president by then who can't drive the physical economy forward.

I doubt this government , or any other govt has the right idea to get us out of this....because it would mean we have to

1.,Massively raise taxes
2.Cut subsidies on everything...education fees may have to go up.
3.Spend on power, transport and technical education while leaving everything to fend for themselves
4.Fight corruption so thoroughly that no one will steal.

The aim of the above would be to become a manufacturing nation, and exporter of manufactured goods, instead of relying on selling oil, and using the proceeds to import and import everything...including stuff we can make at home.

sarrki:


Uncle if it is judiciously used its in line

Tell me the country that didn't borrow ?

You don't have to lose your brain because of hate, You may need it after 2023!

Cc vedaxcool, omenka, madridguy, omenka lives, jesuslovesyou, victornezzar

Why Borrowing when your EFCC have recovered alot of money? Meanwhile less i forget at Sarrki, Where is Lamode, the run-away EFCC boss?

9jakohai:


We are out of recession....that is the truth.

The issue is that when we were in recession , we had to take loans to keep our economy afolat due to oil losing its value...from $100 in Jan 2014 to $29 in 2016.

That is what happens when you rely too much on selling one or more resources , once the price goes down, you have to take loans to maintain the same level of lifestyle. Or else...run really severe austerity govt (while spending more on power, rail, etc...so that we become a manufacturer).

Now...PDP should have saved money under GEJ . But even if GEJ saved...it would not have mattered much so long as oil stayed below $60.

he he he he he,I wish you guys know what they re doing with the money,well it is not my biz anymore.

vedaxcool:
Meaning Jonathan left Over N12 trn debt on Nigeria

yes in 5 yrs of GEJ admin 12trn was left. Meaning 2.5tn per annum (thats assuming he himself didnt inherit debt from obj/yaradua). But this one is at 3.5trn per annum borrowing yet no massive projects.
I voted APC too b4 u call me wailer.
Buhari failed us all.
And fighting a needless war in SE too. With scarce resources

SalamRushdie:
Buhari has mortgaged the future of Nigerians whose parents to be have not even reached puberty yet and the most painful part is that no single infrastructure was built with this humongous debt , no single Mega Watt was added to the grid with this debt , no new hospital was even built , no single virgin road was built and none of the existent was properly rehabilitated , no new car assembly plant has come up, no new irrigation system has been commissioned, in essence Buhari and Co borrowed an unbelievable 7.5 trillion naira to purchase inflation, heightened insecurity, darkness, hopelessness , endemic poverty , cholera out break , uncontrollled Lassa fever out break in 19 states , kidnapping jamboree , heart wrenching crimes against 1000 unarmed shias , zero prosecution in the fight against corruption ..People if anybody body advises you to vote Buhari in 2019 know that that person is a witch or wizard after your destiny ..This must be Buhari's last tenure

Big question for you.

With oil prices falling from $100 in Jan 2014 TO $75 in April 2015 to $29 IN Jan 2016....what did you expect?

Also consider that Nigeria needs oil at $123 per barrel to meet all our needs.

Mind...I am not here to defend or attack any government....but to show you the problem,....which is our chronic dependence on selling raw materials....and sharing the cash...which causes problems when cash falls.

The only way out....we have to make the hard decision to switch from selling raw materials to selling manufactured goods. That is where the issue is. And that is how we should vote in 2019...for the party willing to make such decisions....even if it is not APC or PDP.

989900:
Borrowed to do what?

A more detailed breakdown will be better.

stayed in London 4 100days

vedaxcool:
Meaning Jonathan left Over N12 trn debt on Nigeria

guy u're so clueless! was Jonathan d only President dat has ruled Nigeria before d coming of buhari? the report didn't say d 12trn was borrowed by Jonathan's government alone but all d previous administrations. stop being judgemental of d Jonathan's administration and address d matter at hand.

d report stated dat APC is likely to triple Nigeria's dept burden before 2019 and there's no reasonable project on ground dat they can boast of. what do u av to say abt dat?

sarrki:


Uncle if it is judiciously used its in line

Tell me the country that didn't borrow ?

You don't have to lose your brain because of hate, You may need it after 2023!

Cc vedaxcool, omenka, madridguy, omenka lives, jesuslovesyou, victornezzar

You said that Gej stole our money, can you as well tell us the president that doesn't waste or steal money?.

Mehn datz d equivalent of d budget dey passed

Zombies your legend of the sicker has surpassed our expectations even yours.

They will blame Gej just watch and listen to them.

vedaxcool:
Meaning Jonathan left Over N12 trn debt on Nigeria

now that you have wrongfully dragged Gej into it,you can now sleep peacefully