O boy come see o

BlackAfrican:
The IMF I know is a gang of greedy loan sharks looking for who to devour...

Nigeria doesn't need IMF loan....

IBB, OBJ and GEJ gladly took from them but Buhari won't. He didn't in 1983... He won't now cos he knows IMF is always up to no good with their useless loans

36STATES:
So Buhari doubled national debt in just 3 years? The level of corruption in this government makes Abacha look like a saint.

you're are fool buhari did not borrow from IMF but sukuk!!! The doubling was due to devaluation.. Make good use of your brain

36STATES:
So Buhari doubled national debt in just 3 years? The level of corruption in this government makes Abacha look like a saint.

Oga you get comprehension problem?

The thread said as of June 2015, it was N21.12trn but now N21.75trn.

Is it that you refused to understand or just an enemy?

Buhari is fetching water from the ocean and pouring into a basked.

No matter how you grow your foreign reserves you debt remains a weak point in a country like this.

But the foot soldiers will quote us that America lives on debt.

BlackAfrican:
The IMF I know is a gang of greedy loan sharks looking for who to devour...

Nigeria doesn't need IMF loan....

IBB, OBJ and GEJ gladly took from them but Buhari won't. He didn't in 1983... He won't now cos he knows IMF is always up to no good with their useless loans

But he has icured more debt. Check again.

BlackAfrican:
The IMF I know is a gang of greedy loan sharks looking for who to devour...

Nigeria doesn't need IMF loan....

IBB, OBJ and GEJ gladly took from them but Buhari won't. He didn't in 1983... He won't now cos he knows IMF is always up to no good with their useless loans

Must u always display ur zombie trait at any given opportunity?
If buhari will not borrow then who borrowed the one that made the debt rose to N21.73tn as of December 31, 2017, compared to N12.12tn as of June 30, 2015?
Maybe GEJ is still borrowing . yeye dey smell

Nosaghae:

Must u always display ur zombie trait at any given opportunity?
If buhari will not borrow then who borrowed the one that made the debt rose to N21.73tn as of December 31, 2017, compared to N12.12tn as of June 30, 2015?
Maybe GEJ is still borrowing . yeye dey smell

Exchange rate.

BlackAfrican:
The IMF I know is a gang of greedy loan sharks looking for who to devour...

Nigeria doesn't need IMF loan....

IBB, OBJ and GEJ gladly took from them but Buhari won't. He didn't in 1983... He won't now cos he knows IMF is always up to no good with their useless loans

You need AMATEM for malaria

Studentcosmos:
The International Monetary Fund on Monday expressed concern over Nigeria’s capacity to repay its debts and stressed the need for the Federal Government to mobilise more revenues domestically.

The Washington-based fund, at the public presentation of the Spring 2018 Issue of the Regional Economic Outlook for Sub-Saharan Africa, said the public debt in the region was on the rise.



IMF Senior Resident Representative and Mission Chief for Nigeria, Amine Mati, said, “The number of countries in debt distress has increased. From six countries in 2014 to eight in 2015, to 10 in 2016, and today 15 countries. These are low-income economies.

“Now, I know the question that is going to come from here is: Where is Nigeria? Nigeria is not considered a low-income economy. Nigeria’s debt stock figure, which is 20 to 23 per cent of Gross Domestic Product, is still quite low by any standard. The issue is capacity to repay the debts. So, interest payment to revenue is an issue.”

On the need to ramp up domestic revenue mobilisation, Mati put Nigeria’s total revenue at six per cent of GDP.

“There is a lot that can be done to increase revenue very quickly,” he said.

Noting that Value Added Tax rate had been quite low in Nigeria, he said doubling the compliance on VAT from 25 to 50 per cent would increase the VAT ratio from 0.9 per cent of GDP to close to two per cent.

Nigeria’s debt stood at N21.73tn as of December 31, 2017, compared to N12.12tn as of June 30, 2015, according to the Debt Management Office.

The DMO had said the composition of the debt stock as of the end of 2017 showed that external debt was 26.64 per cent of the portfolio, up from 20.04 per cent in 2016, while the domestic debt was 73.36 per cent, down from 79.96 per cent in 2016.

The Director-General, DMO, Patience Oniha, in her remarks at the event, said the government had been working aggressively to shore up revenues as well as reduce borrowing costs.



“The debt service is a function of the interest that you pay on those borrowings as well as your revenue. The critical part is that revenue has been low relative to the size of the GDP. So that has to go up,” she said in an interview on the sidelines of the event.

According to her, there is an aggressive drive to raise revenues through the Voluntary Assets and Income Declaration scheme.

Oniha said, “What are we doing on debt service? The new debt management strategy, which we started implementing last year, seeks to moderate the growth of interest expense by shifting some of the borrowing externally.

“If we were borrowing on the domestic market, last year we would be borrowing at about 16 to 17 per cent and early on the year, 18 per cent. But we went to the international market. So rather than borrow that $4.8bn that we borrowed in the international market in the domestic market, we borrowed at below eight per cent. If we raised the money in the domestic market, we would have had to pay those high rates.”

The DMO DG said the government saved over N70bn from, estimated on a per annum basis, from that exercise.

“We are still borrowing because there are provisions for borrowing in the budget. But in terms of how much it cost us to borrow, we are working actively on reducing that and reducing the refinancing risk that we had with Treasury bills every 90 days, every six months.”

source: http://punchng.com/imf-doubts-nigerias-capacity-to-repay-debts/

If they cant pay , just simply bring empty petrol tanks to Bayelsa and millk the debt from oiĺ there.. no need to worry as the collactral is there..

The major problem is that common men are not feeling the impact of this outrageous debt.This does not have any positive effect on the economy. Roads are still bad across the country, no electricity and no good water.

Don't worry buhari(and his predecessors), the 36state governors(and their predecessors) the senators and their house of Rep counterparts will surely be used to settle the Dept. We will sell them as slaves to IMF. We can't come and pay igbese of another man.

ukejejohnson:



Oga you get comprehension problem?

The thread said as of June 2015, it was N21.12trn but now N21.75trn.

Is it that you refused to understand or just an enemy?

You are legally blind!

BlackAfrican:
The IMF I know is a gang of greedy loan sharks looking for who to devour...

Nigeria doesn't need IMF loan....

IBB, OBJ and GEJ gladly took from them but Buhari won't. He didn't in 1983... He won't now cos he knows IMF is always up to no good with their useless loans

Nigerian Debt Stood At #21.73t As Of December 31, 2017, Compared To #12.73t As Of June 30, 2015 According To Debt Management Office. #12t Within The Space Of 3 Years. Lets Assume Pdp Govt Borrowed #12.73t Withn 16 Years And Apc Borrowed #12t Within 3 Years. This IS Real Change.

Studentcosmos:
The International Monetary Fund on Monday expressed concern over Nigeria’s capacity to repay its debts and stressed the need for the Federal Government to mobilise more revenues domestically.

The Washington-based fund, at the public presentation of the Spring 2018 Issue of the Regional Economic Outlook for Sub-Saharan Africa, said the public debt in the region was on the rise.



IMF Senior Resident Representative and Mission Chief for Nigeria, Amine Mati, said, “The number of countries in debt distress has increased. From six countries in 2014 to eight in 2015, to 10 in 2016, and today 15 countries. These are low-income economies.

“Now, I know the question that is going to come from here is: Where is Nigeria? Nigeria is not considered a low-income economy. Nigeria’s debt stock figure, which is 20 to 23 per cent of Gross Domestic Product, is still quite low by any standard. The issue is capacity to repay the debts. So, interest payment to revenue is an issue.”

On the need to ramp up domestic revenue mobilisation, Mati put Nigeria’s total revenue at six per cent of GDP.

“There is a lot that can be done to increase revenue very quickly,” he said.

Noting that Value Added Tax rate had been quite low in Nigeria, he said doubling the compliance on VAT from 25 to 50 per cent would increase the VAT ratio from 0.9 per cent of GDP to close to two per cent.

Nigeria’s debt stood at N21.73tn as of December 31, 2017, compared to N12.12tn as of June 30, 2015, according to the Debt Management Office.

The DMO had said the composition of the debt stock as of the end of 2017 showed that external debt was 26.64 per cent of the portfolio, up from 20.04 per cent in 2016, while the domestic debt was 73.36 per cent, down from 79.96 per cent in 2016.

The Director-General, DMO, Patience Oniha, in her remarks at the event, said the government had been working aggressively to shore up revenues as well as reduce borrowing costs.



“The debt service is a function of the interest that you pay on those borrowings as well as your revenue. The critical part is that revenue has been low relative to the size of the GDP. So that has to go up,” she said in an interview on the sidelines of the event.

According to her, there is an aggressive drive to raise revenues through the Voluntary Assets and Income Declaration scheme.

Oniha said, “What are we doing on debt service? The new debt management strategy, which we started implementing last year, seeks to moderate the growth of interest expense by shifting some of the borrowing externally.

“If we were borrowing on the domestic market, last year we would be borrowing at about 16 to 17 per cent and early on the year, 18 per cent. But we went to the international market. So rather than borrow that $4.8bn that we borrowed in the international market in the domestic market, we borrowed at below eight per cent. If we raised the money in the domestic market, we would have had to pay those high rates.”

The DMO DG said the government saved over N70bn from, estimated on a per annum basis, from that exercise.

“We are still borrowing because there are provisions for borrowing in the budget. But in terms of how much it cost us to borrow, we are working actively on reducing that and reducing the refinancing risk that we had with Treasury bills every 90 days, every six months.”

source: http://punchng.com/imf-doubts-nigerias-capacity-to-repay-debts/

unless God intervene quickly on Nigeria case else it may be like prodigal son in Bible that spend future today ,Nigerians leaders do borrow future and spend it flamboyant today ,it's a shame upon how God bless Nigeria

BlackAfrican:
The IMF I know is a gang of greedy loan sharks looking for who to devour...

Nigeria doesn't need IMF loan....

IBB, OBJ and GEJ gladly took from them but Buhari won't. He didn't in 1983... He won't now cos he knows IMF is always up to no good with their useless loans

are u mentaly retarded? Buhari more than doubled nigeria's debt profile in just three years after obj finished wiping it out, do U read at all?

Nosaghae:

Must u always display ur zombie trait at any given opportunity?
If buhari will not borrow then who borrowed the one that made the debt rose to N21.73tn as of December 31, 2017, compared to N12.12tn as of June 30, 2015?
Maybe GEJ is still borrowing . yeye dey smell

Mugu.... Reread my post... Has Buhari borrowed from IMF

https://www.vanguardngr.com/2017/02/fg-rules-out-borrowing-from-imf/

BlackAfrican:
The IMF I know is a gang of greedy loan sharks looking for who to devour...

Nigeria doesn't need IMF loan....

IBB, OBJ and GEJ gladly took from them but Buhari won't. He didn't in 1983... He won't now cos he knows IMF is always up to no good with their useless loans

Please, just keep mute as you obviously don't have a faint idea of the subject being discussed judging from your response. What does even your Buhari know about monetary economics? Who is begging Nigeria to take IMF..loans The country is heavily indebted already and we seem not to have the capacity and strategy to pay back these loans and you are here talking about Buhari not taking IMF loan........Stop watching NTA and LTV....

IamaNigerianGuy:


IBB took a loan from the IMF ? I think you need to brush up on your history.

Mugu... You're the one who knows nothing about Nigeria's economic history... Read and stop fooling yourself.

https://www.vanguardngr.com/2010/04/ibb-we-cannot-forget-the-past/

To the ignorant ones that don't read to understand anything, the IMF director never doubted Nigeria's ability to repay her debt, that kind of statement is meant for the likes of Greece and Venezeula. Nigeria's debt to GDP ratio is still very low, which means we can even safely take on more debt. The concern the IMF raided is with our revenue mobilization especially from tax. Revenue to GDP is still single digit.
Like we all know, the FG is ramping up tax revenue generation with VAIDS and a more aggressive FIRS and this is yielding incredible results. So in essence Nigeria is on course with respect to allaying IMFs concerns. Please the illiterates and ignorants on this forum should go get an education and stop spewing rubbish about what they knw nothing of.

BlackAfrican:
The IMF I know is a gang of greedy loan sharks looking for who to devour...

Nigeria doesn't need IMF loan....

IBB, OBJ and GEJ gladly took from them but Buhari won't. He didn't in 1983... He won't now cos he knows IMF is always up to no good with their useless loans

bia anu go and read the post again. Nigerian debt increase from 12tr in Dec 2015 to 21tr as of December 2017. So tell me who borrowed the 9tr. Your grand father and.

bankylan:



Please, just keep mute as you obviously don't have a faint idea of the subject being discussed judging from your response. What does even your Buhari know about monetary economics? Who is begging Nigeria to take IMF..loans The country is heavily indebted already and we seem not to have the capacity and strategy to pay back these loans and you are here talking about Buhari not taking IMF loan........Stop watching NTA and LTV....

Ignoramus spotted!
Did the IMF mention anything about Nigeria being heavily indebted? They even said our debt stock is quiet low, at less than 25% of GDP. We can actually take on more debt if we want. Please endeavour to read and comprehend before commenting. It's not by force to post a comment.

IMF never make any positive projections of any country that refuse their eeconomic terms. They will always see crises coming your way. Last two years they said our recession will take longer time to go, infact that we are doomed. But they can see that in a short while we are rather getting better.

Na waoooo 12trilion to 21trilion in just three years..... Bubu dey try cha

SBG04:
To the ignorant ones that don't read to understand anything, the IMF director never doubted Nigeria's ability to repay her debt, that kind of statement is meant for the likes of Greece and Venezeula. Nigeria's debt to GDP ratio is still very low, which means we can even safely take on more debt. The concern the IMF raided is with our revenue mobilization especially from tax. Revenue to GDP is still single digit.
Like we all know, the FG is ramping up tax revenue generation with VAIDS and a more aggressive FIRS and this is yielding incredible results. So in essence Nigeria is on course with respect to allaying IMFs concerns. Please the illiterates and ignorants on this forum should go get an education and stop spewing rubbish about what they knw nothing of.

So what this idiot is saying is that buhari can continue the borrowing, even after he borrowed 9tr in 3years, with nothing to show for it. Because we can pay

I didn't see anything related to the caption.

clergyboy:
Na waoooo
12trilion to 21trilion in just three years.....
Bubu dey try cha

Yes and we should have even borrowed more! Government securities represent a chunk of the domestic portion of the debt which on its own is more than 70% of the entire debt chunk. Our domestic revenue mobilization through tax is ramping up. So we can safely offset the domestic portion of the debt stock which is more than 70% of the entire debt profile.
We should even be borrowing more based on these numbers.

clergyboy:
Na waoooo
12trilion to 21trilion in just three years.....
Bubu dey try cha

That's being clever by half on the part of reporter. Foreign debts are in Dollars and devaluation of Naira is the major reason for the increase. The difference between 200 Naira to a Dollar and 360 Naira to a Dollar is approximately same difference between 12 and 21.

jerseyboy:
Nigeria to IMF: I beg sir, forgive us our debts.

As we forgive our debtors. Lolz

BlackAfrican:
The IMF I know is a gang of greedy loan sharks looking for who to devour...

Nigeria doesn't need IMF loan....

IBB, OBJ and GEJ gladly took from them but Buhari won't. He didn't in 1983... He won't now cos he knows IMF is always up to no good with their useless loans

Did you read the part that says our loan was $12Tr as at 2015, now $21Tr. If Buhari didn't borrow, I wonder how we accumulated an increase of $9Tr.

Buhari increased Nigeria's debt by almost a 100% within 3 years. (12 to 21 trillion ). Na wa o and he says he's working