SBG04:

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.

You're high, we should borrow more? Are you the one that will pay back the money?

udemzy101:


You're high, we should borrow more? Are you the one that will pay back the money?

Only God can help cure the level of illiteracy in this Forum because God knows I've tied. With idiots like this one, it just gets harder!

but wait o! can't we print these monies? let them print many and pay of the debts na.

Raylight2:
but wait o! can't we print these monies? let them print many and pay of the debts na.

That would be crazy.
One of the side effects of issuing government securities such as tbills and bonds, apart from revenue generation, is to mop up excess liquidity (like we were all taught In secondary school) If the government issues tbills to raise money and mop up excess money, wouldn't it be wise to use tax (another means of mopping up excess liaiidity) to offset the debt incurred from tbills? If you take money out of the system with tbills and then pour money back into th system by printing more money, you're just promoting inflation, which is crazy monetary policy. Only the likes of Venezeula an Zimbabwe practise that kind of economics.

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

Shut up! Even the USA do borrow from IMF

plaetton:

Comprehension Comprehension!

The report indicates that Nigeria's debt has already increased from N12t in 2015 to N21t under Buhari.
Yet not a single project can be seen to be started and finished in the last 3 years.

But he is completing abandoned projects. A country in recession can't do without taking loan...

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

Could you go back and read how so much was borrowed between June 13,2015 and Dec.31,2017?N9.61trn was borrowed in less than years!

SBG04:

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.

Do you even know the implication of being in debt?
Before you reply with how we're capable to pay back, please what's the amount budgeted for debt financing this year alone?
Just imagine if every government have been borrowing an average of #10 trillion every three years, just because they thought we can pay.

Admin401:


It's run by Jews. That's enough to tell you everything you need to know.

So what? Isn't the Nigeria satellite run by the Jews? You mofo just come out to spill trash.

My disdain for IMF is Historical in nature..,IMF has been exploiting third world countries by concentrating them in a stagnant economic situations,;hence, luring them to seek for loans.
The interest rates incurred on loans by IMF from third world countries,is extremely high and exorbitant.
IMF loans should be a concessional loan and not profit oriented....this is pitiful because you will have to pay even higher at the Maturity date after the devaluation of your country's currency.
In Reference to the Federal Republic Of Nigeria.

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.

U think they are ready to learn? All they want to do is to insult. U can't educate them...

Most debt Nigeria owes is in dollar yet we are running to China to sign currency deal while we are till grappling with debt payment unmindful of the currency war between America and China.

Learn to write with your brain. If Buhari didn't borrow from them, how then did the debt almost doubled within just 2 years of his tenure?
Check the news from 2015 till date and see the rate APC borrows from external lenders.

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

jimrog:


But he is completing abandoned projects. A country in recession can't do without taking loan...

Kindly name a few abandoned projects that he has completed.

No country that I know takes loans to supposedly pay N5k monthly stipends to select citizens.
Loans are usually taken to invest in infrastructure, create jobs and spur economic growth.

DeOTR:

Do you even know the implication of being in debt?
Before you reply with how we're capable to pay back, please what's the amount budgeted for debt financing this year alone?
Just imagine if every government have been borrowing an average of #10 trillion every three years, just because they thought we can pay.

Bros that is why tax revenue is growing in double digits! So we can easily offset this debt. There is no concern here. It's just the uninformed and illtereate ones amongst us that will read headlines and post comments, that are making all the noise.

Imi say it again buhari will go down in history as the worst president Nigeria ever had

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

How did the loan double under him?

israelmao:
Most debt Nigeria owes is in dollar yet we are running to China to sign currency deal while we are till grappling with debt payment unmindful of the currency war between America and China.

wft is this?
Everything you have written here is a lie. Of our 21 trillion naira debt, 73% of it is in naira, in the form of tbills and bonds like the Sukuk bond. The external borrowing is Euro bond issues and world bank and IMF loans.
The currency deal with China is a massive plus for Nigeria because it will reduce the pressure on our dollar reserves. Instead of imoorters converting from naira to dollars and then to yuan, before making imports, they simply convert from naira to yuan. This reduces dollar demand. The naira will definitely appreciate against the dollar very soon as a significant chunk of dollar demand is from importers of Chinese goods. Once this demand shift to yuan, the positive effect on the naira will be remarkable.

jimrog:


But he is completing abandoned projects. A country in recession can't do without taking loan...

Which one?

Temple1288:



So what? Isn't the Nigeria satellite run by the Jews? You mofo just come out to spill trash.

Haha! Look at this Naive pubescent. I just hope you're trolling and if so, good job. I fell for it.

Nigeria must not borrow more to fund its budget and should instead raise money it needs by other means

eeee oga gan ni aduru gbese yi leti koje emopadawa mo rara ni 2019 ni agba radarada

SBG04:

You're a bloody fool judging from this response! You don't know anything, and I'm trying to cure your illiteracy here. Instead of analysing more and using your brain, you're still hell bent on your foolishness.
Our entire debt is 21trillion.
70% of this is domestic which means it can be offset with naira. How do you offset your naira debt? By increasing your naira revenue! How do you increase your Naira revenue? By ramping up naira revenue generation through tax. That's why the FG is aggressively pursuing VAIDS and that's why the FIRS has become more aggressive with tax remmittance. FIRS revenues for q1 increased from double digits yoy. The IMF spokesperson alluded to that in the report. Nigeria is actually ramping up naira revenue generation so we can safely offset our domestic debt. Mind you the domestic portion of the debt is not money that the government actually borrowed from lenders. It's debt from government securities such as tbills and bonds.
Please endeavour to read and understand issues before dropping comments and spreading your ignorance and illiteracy. Makes you sound like an idiot which I'm sure you are.

Just look at the rubbish spewing out of your mind. Its your type of stubbornness that IMF is still trying to address. Nigeria's Govt are focused on their Revenue to GDP ratio, boasting and shouting of how low it is forgetting that their Interest payment to Revenue is frigging high.

Nigeria spends 2/3 of her revenue repaying debts, does that make sense to you? And the only reasonable thing you could think of is that, they have tax at their mercy.

Despite all the increased hardship, the increased prices and skyrocketed inflation , or a full year of negative GDP (recession)_ you still support the fact that increased TAXes is the only way to increase her revenues, YOU are a disgrace!

So Nigeria can't improve in her capital expenditure? we have borrowed 12trillion in 3yrs yet the capital expenditure is hardly seen. All your lots know is tax tax tax, is it until Nigerians die of hardship that you know you have taxed them enough?

You are screaming that others commenting are illiterates whereas you are the illiterate. Nigeria Govt boasting of her GDP as if she is doing enough to engage the citizens actively to further bolster the GDP size.

For me, the GOVT should capture those high and Mighty wealthy men in their Tax Nets rather that increasing VAT and all that. spending 66% of your revenue on debt payment is pure foolishness!

Debt is the foundation of modern economy,but what you do with your debts to create buoyancy in the economy is what matters. In our case,our socalled leaders will use the loan to buy high end properties in London, new York, dubai,Switzerland and all the fairytale places created by whiteman,instead of investing it in job creations-streets cleaning paving, drainage constructions, roads,pipe borne water in all homes,electricity,gas piping,health care,productive education,agriculture,factories for production of basic household goods to space rockets if we are too bored to man the earth, name it.

Everything is economically viable in a developing world and for another two hundred years there will still be plenty to hold round for new pioneers.

plaetton:


Kindly name a few abandoned projects that he has completed.

No country that I know takes loans to supposedly pay N5k monthly stipends to select citizens.
Loans are usually taken to invest in infrastructure, create jobs and spur economic growth.

So u ve not been seein roads bin built with the sukuk loan? What abt rail projects? Or is it u that borrowed them the money used in the on going construction of the 2nd Niger bridge? None of those loans went into recurrent expenditure. We knew abt a govt that was at a time borrowing to pay salaries...

Aadeyinka:


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

Unless we put our hands and heads together and say no to wastage....God has done a perfect job in redeeming our souls, isnt that enough? Faith without WORK is dead.

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

Can you read the report well? N12trillion as at June 2015 and N21trillion as at December 2017. Difference of N9trillion. What a government by APC. N12T in 16yrs and N9T in 3yrs. Can u imagine? Get your PVC.

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

Is like u don't know that he has borrowed d most since the inception of Nigeria. Go and check the records.

Gavrelino123:
My disdain for IMF is Historical in nature..,IMF has been exploiting third world countries by concentrating them in a stagnant economic situations,;hence, luring them to seek for loans.
The interest rates incurred on loans by IMF from third world countries,is extremely high and exorbitant.
IMF loans should be a concessional loan and not profit oriented....this is pitiful because you will have to pay even higher at the Maturity date after the devaluation of your country's currency.
In Reference to the Federal Republic Of Nigeria.

This isn't true. IMF are one of the cheapest place to borrow loans from, moreso Nigeria has been refocusing its loans from domestic to foreign because its more expensive to borrow in our local currency.

Just say you hate them because Investors like you in treasury bills thread will have rates further reduced, because of the GOVTs change in interest lol

okosodo:
How will they be able to pay, when they are servicing the northern oligarchs that has been able holding the country since 1960. They will start using islam to deceive their people

just admit it islam is ur only problem. those that brought Christianty to u are now atheist u will join too.

plaetton:

Comprehension Comprehension!

The report indicates that Nigeria's debt has already increased from N12t in 2015 to N21t under Buhari.
Yet not a single project can be seen to be started and finished in the last 3 years.

Zombies want to brush that humongous figure under the carpet so they can blame GEJ as usual.

They yap about increased foreign reserve. Which serious person saves money at little or no interest rate and at same time borrow money at a high cost of debt servicing? Only economic illiterates.

SBG04:

Only God can help cure the level of illiteracy in this Forum because God knows I've tied. With idiots like this one, it just gets harder!

Lol

How can you suggest that we need to borrow more, borrow more for what? Is that the best solution you've got?

You're the illiterate here that fails to think out the box, you should be sack from your place of work, wonder if you contribute anything meaningful there.