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Nigeria’s Debt Profile Among Lowest In The World — Osinbajo - Politics (2) - Nairaland

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Govt Borrowings Unproductive — Peter Obi Rakes Over Nigeria’s Debt Profile / Debt Profile Of The 36 States As At December 2018 (Pictured) / FACT-CHECK: How Accurate Is Osinbajo’s Claim On Nigeria’s Debt Profile (2) (3) (4)

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Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by princfred(m): 10:13am On Apr 02, 2019
AngelicBeing:
Gbam, headquarters of poverty in the world + 6th most miserable country in the world = Nigeria grin
Mainly based on the cursed side and especially when one of theirs rule.

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Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by obailala(m): 10:26am On Apr 02, 2019
dollarsplenty:
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.
Lol grin grin grin

Wrong thread alert!

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Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by nabiz(m): 10:33am On Apr 02, 2019
porka:
GDP does not repay government loan, government revenue does.

What is the percentage of debt to revenue?
me self we no too go school de look your result with one kin eye
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by jaxxy(m): 10:34am On Apr 02, 2019
People seems to forget Osinbajo is not only a pastor bt a lawyer and lawyers are trained to lie where necessary and they are good at it. Trust me
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by martineverest(m): 10:36am On Apr 02, 2019
akinbode1:
Yeye pastor full of lies!!!
have u seen the debt of other countries?.
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by IMAliyu(m): 10:52am On Apr 02, 2019
Esseite:


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.
You know such policy will be met with a massive push back.
My take is to increase access to education to the masses (especially girl education) and if employment can be generated (and women encouraged to work). The birth rate of the country would naturally fall.

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Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by tete7000(m): 10:57am On Apr 02, 2019
dantajay:
I miss lia Muhammad...

When you have Osinbajo, you don't need lie anymore...He does the job better than Lie...
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by Emeksman: 10:58am On Apr 02, 2019
ojun50:
Another information vp minister and commisional for lies
I cant believe this oooh.. so this man still lies like this. Chaii devil is smiling for he gota a candidate in ASO ROCK
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by Nobody: 11:18am On Apr 02, 2019
IMAliyu:

You know such policy will be met with a massive push back.
My take is to increase access to education to the masses (especially girl education) and if employment can be generated (and women encouraged to work). The birth rate of the country would naturally fall.

True.. girl child education would obviously terminate early and unwanted pregnancies but what about the human right angle, the religious angle, the tribal angle ?...

The human angle: i can give birth to as many as i can, its my body.

The religious angle: my affiliation is insupport of going in to the world to multiply.

The tribal angle: they want to reduce the voting strength of my people, but telling us and not doing it to their own people.

You see the reason why a policy backed by the NASS should be enacted, china has good girl child education, but they had to peg birthrate.

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Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by mekussa(m): 11:33am On Apr 02, 2019
buhariguy:
NO.

because US debt is 110％ of their GDP.

Us government revenue is 31% of their GDP.
Nigeria government revenue is 6.25% of their GDP.
Now ask yourself who is in a better position to repay her debts?
I am in support of borrowing BUT only according to the limits of your income.

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Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by Bizibi(m): 11:45am On Apr 02, 2019
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.
where you dey since?

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Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by anonimi: 12:10pm On Apr 02, 2019
Bizibi:
where you dey since?

Mods' freezer to not disturb their election rigging on social media. wink
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by IMAliyu(m): 12:26pm On Apr 02, 2019
Esseite:


True.. girl child education would obviously terminate early and unwanted pregnancies but what about the human right angle, the religious angle, the tribal angle ?...

The human angle: i can give birth to as many as i can, its my body.

The religious angle: my affiliation is insupport of going in to the world to multiply.

The tribal angle: they want to reduce the voting strength of my people, but telling us and not doing it to their own people.

You see the reason why a policy backed by the NASS should be enacted, china has good girl child education, but they had to peg birthrate.
I understand that, but NASS is filled by people that are inclined to only put forth policies that promotes their tribal, regional or religious interests and reject what openly goes against those interests even if it were to be beneficial.
Another problem would be implementation should such a bill pass.
Now my proposal would be a child spacing law of let's say 5-6 years which can be reduced when things get better. This would bypass any religious beliefs or cultural inclination. It would cause a massive decline in birthrates just as much as a 1-3 child policy, and incentives to be given for those that abide by it (such as free education and health care for your children) and those that violate it get fined or taxed.
This is just my thoughts on the matter.

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Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by binary123(m): 12:28pm On Apr 02, 2019
Anigreat:
shocked






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

do you have any prove to show that he lied.or you just want to talk too
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by TRAVEL101(m): 12:38pm On Apr 02, 2019
This guy has taken the role of lie Muhammad.
Wish you all the best in your new job.

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Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by Martartins(m): 12:39pm On Apr 02, 2019
The same Prof Peter Obi schooled in Econometrics. What does he know that he is talking about.

I was hoping he would thank PDP for keeping our debt profile very low for 16 years like they usually blame them for their problems.

Professor my foot!

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Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by Tayo114: 12:53pm On Apr 02, 2019
You want to increases it abi?

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Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by eodavids(m): 12:57pm On Apr 02, 2019
This sounds hopeless and miserable. Is Prof. Saying Nigeria's situation under this administration is such bad that all we need do is check if there is no worse indebted country?

Is like the prof is celebrating the fact "we are not the worst" but that is not good enough.

SHOULDN'T WE AIM TO BE THE LESS INDEBTED OR EVEN DEBT FREE?

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Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by careidon: 1:15pm On Apr 02, 2019
Textbooks & economic rates talks and solutions again!
Pls how did rebasing & claiming Nigeria is the biggest economy help the common man?

The issue is that THE LEADERS can't drive the public towards productivity

All claims towards infrastructures are useless as long as we do projects at the rates government does it without local content -
eg why should a minister ever try to resurface Abuja airport for N6b!!?
Why would Agric minister say cashew processing machines is $2m when you can get it for less than $5k (check alibaba)
Why do we build roads @N1b/km (take Lagos - Ibadan) & how many can we build at such rates?
Why could private universities come up with better structures with same fund but FG' would only have the Admin & VC' lodge as master pieces (the rest would be the inherited sec Sch buildings)

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Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by grandstar(m): 1:43pm On Apr 02, 2019
porka:
GDP does not repay government loan, government revenue does.

What is the percentage of debt to revenue?

Beautifully said? Also, What of the cost of borrowing because Nigeria ain't no Japan!
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by Yankee101: 2:31pm On Apr 02, 2019
Buhari's borrowing is one of the highest ever in Nigerian history

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Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by BigIyanga: 2:41pm On Apr 02, 2019
GavelSlam:


GDP means taxable income which can drive government revenue.
What taxable income when 80% of borrowed funds are used in financing recurrent expenditure.. it’s like borrowing from ur neighbors to pay household expenses when you’re unemployed

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Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by GavelSlam: 3:40pm On Apr 02, 2019
BigIyanga:

What taxable income when 80% of borrowed funds are used in financing recurrent expenditure.. it’s like borrowing from ur neighbors to pay household expenses when you’re unemployed

Recurrent expenditure like railway lines ?

My last response to you.

I don't banter with people who peddle falsehood.
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by BigIyanga: 4:17pm On Apr 02, 2019
GavelSlam:


Recurrent expenditure like railway lines ?

My last response to you.

I don't banter with people who peddle falsehood.
I dont banter with folks like u who are arrogantly ignorant of facts. Go to free Google University to read up on recurrent expenditure
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by Blue3k(m): 5:48pm On Apr 02, 2019
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.

Nigeria also has a very low tax to GDP as well. Tell us states plans to generate funds to meet up with the increase debt obligations and increasing responsibilities.

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Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by anonimi: 4:01am On Apr 03, 2019
dollarsplenty:
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.

I love your signature:

We are all poor, until everyone is rich.

1 Like

Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by GiantParrot(m): 5:16am On Apr 03, 2019
porka:
GDP does not repay government loan, government revenue does.

What is the percentage of debt to revenue?

Well said!

Apparently Osinbajo believes that debt to GDP ratio is the only index for assessing the debt profile.

Our debt to revenue ratio as at Q4 2018 was greater than 50%. This is very alarming. Should that figure continue to increase, we will soon have real challenges with debt servicing. Any default will compound the interest, and the interest rates on our bonds are very high compared to other countries. Interest rates on our local bonds and treasury bills are typically greater than 10%, and our eurobonds interest rates are usually greater than 6.5%, compared to US bonds with interest rates less than 3%. Comparatively, our cost of debt servicing in percentage terms is much higher than those of the US and other countries. We are much more likely to default on interest payments and suffer the bitter consequences of coumpounded interest.

Unfortunately, our national debt in Q3 2018 was nearly double the figure it was in Q2 2015 when Buhari took over. There is hardly anything to be happy about with the GDP and revenue generated over the same period. The scorecard is very poor. Yet the government clearly wants to borrow more. If we haven't seen appreciable growth in revenue and GDP with all the borrowing done in the last four years, why should we expect that the story will be different henceforth? Has any significant change in economic policy been announced?

Another thing to consider is the role oil and gas plays in revenue generation. The signs are not good. Since the shale revolution, production cuts by OPEC members have become the new normal for shoring up oil prices. There is serious doubt regarding our capacity to generate the projected revenue for 2019 because it is premised on oil prices of $60 per barrel and daily production of 2.3m barrels per day. Our OPEC quota is 1.7m barrels per day and oil price is $68. If this situation were to persist, our oil revenue will be at least 16% less than what was projected. Imagine the impact on the debt to revenue ratio.

Edit:
On revenue generation, the government has indicated interest in increasing tax revenue and selling some stakes in the oil JVs. Fingers crossed.

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