Vice President Yemi Osinbajo who spoke at the 50th convocation of the University of Lagos in Akoka, disclosed that Nigeria’s debt profile is among the lowest in the world. Osibanjo who delivered UNILAG’s convocation lecture with the theme, “Nigeria Rising: The Path to Prosperity", said Nigeria's debt profile is among the lowest in the world when compared to the size of the economy. He further disclosed that  Nigeria had stabilised at 11 per cent over the past six months.

“We restored medium-term planning with the Economic Recovery and Growth Plan which served as a useful loadstone in improving macroeconomic performance, boosting the real sector of the economy and building infrastructure.  The decline in growth, which started at the end of 2014, has been reversed, inflation has stabilised at about 11 per cent over the past six months and our current account was in surplus around 1.3 per cent of the Gross Domestic Product last year.

“Our foreign reserves can cover at least six months of import of goods and services and despite understandable concerns, our debt burden is only about 22 per cent of the size of our economy,  which is one of the lowest ratios in the world.“We have very clear objectives. As you know, the problem of our country is not the planning or designing of great projects, it is in the actual implementation. We are fortunate that Muhammadu Buhari is not an orator, he is a doer" he said.


https://unclesuru.com/2019/04/02/nigerias-debt-profile-among-lowest-in-the-world-osinbajo/

In other words , una never see anything yet

Does low debt translate into a working and good economy?

GDP does not repay government loan, government revenue does.

What is the percentage of debt to revenue?

really?

Osibanjo, can you just shut up for once and stop embarrassing RCCG for once. You lie too much .

porka:
GDP does not repay government loan, government revenue does.

What is the percentage of debt to revenue?

Good question.
Just like assets do not pay off liabilities on their own but the income/profit generated from whatever the assets produce.
Education is what creates a skilled population that can work the infrastructure to create government revenue. This administration has done nothing for education making poverty prospects worse into the future.

Another information vp minister and commisional for lies

I am not sure our VP has access to figures from the ministry of Finance.

GavelSlam:


GDP means taxable income which can drive government revenue.

So where is your taxable income from GDP when you have 23% of working population unemployment and 89m destitute poor, along side a growing population without a guaranteed average future...

GavelSlam:


You get from the same GDP you speak of.

Have you got a solution or is it all about criticism?

You should not uphold wrong statements knowing very well deep down we are in a serious case.

The solution is enacting a policy to guide birthrate, if we cant afford to build infrastructures enough for all, then a better solution is having the ones available enough for all.

This man seems to have taken over the job of Lai.

Where the fvck is Lai?

Harrymig1:
Does low debt translate into a working and good economy?

NO.

because US debt is 110％ of their GDP.

GavelSlam:


Let me guess, once such a policy is enacted you would criticise it as you do all government policies.
None is ever reasonable for you.

Who in his right senses seeing where we are would criticize such policies, only those with a bias religious view would go against it.

buhariguy:
NO.

because US debt is 110％ of their GDP.

Thanks Jare

This man has made me laugh this year more than any comedian in the world

This man again.

Hmm, I thought pdp

This man and twisting of data interpretation.
When PDP was there and APC was trying to come in, they said we are heavily indebted and now after four years of just regular loan repayment which by the way PDP was doing, they say the debt level is one of the lowest.
These people have no plans to improve this country but just a vote buying.

How did he arrive at that? Where I live, the jobs of the cooks are being done by politicians and their families. They give these pupil only rice and beans everyday. These are parts of cows, eggs and other statistics being ditched out by VP. The home grown school feeding program is good program but poorly and corruptly managed.

anonimi:


Good question.
Just like assets do not pay off liabilities on their own but the income/profit generated from whatever the assets produce.
Education is what creates a skilled population that can work the infrastructure to create government revenue. This administration has done nothing for education making poverty prospects worse into the future.

Gbam, headquarters of poverty in the world + 6th most miserable country in the world = Nigeria

It's not as simple as he talks

First, as at 2014, the debt was 12% of GDP and it's now 22%. That means it's rising fast. By 2023, it may hit 30% of GDP.

Also, borrowing cost is over 10%. In the EU, it is barely 2%. Borrowing cost is therefore high.

Also, a lot of those investing in bonds are foreign institutional investors. These portfolio investor can and will convert their holdings back to dollars and exit the country if they are spooked. This destabilizing outflow will lead to the Naira crashing unless the CBN is ready to defend the Naira but it will be very costly and drain the foreign reserves.

Also, servicing the debts already consume over 60% of the budget. This is unsustainable.

Osibanjo the record breaker

https://en.m.wikipedia.org/wiki/List_of_countries_by_external_debt

Yeye pastor full of lies!!!

I miss lia Muhammad...