[quote author=KidsNEXTdoor post=77276111]
is Nigeria not dead already [na u kill am?]

If this country eventually breaks this will be part of the assets and liabilities to share.

That's a sh**t load of debt. We can sell one of these mushroom SE states to offset this debt if...

nasyrral:
Am i the only one breathing like i owe nobody?

no b only u bro

i prefer domestic debt to external debt.

it simply means more money for Nigerians. however high FDI may mean source is external.
there has to be a balance.

It will get to 100trillion before 2023....I trust the Johnny Walker Buhari

24T in just 4yrs with nothing to show

and nothing to show for it

we can pay off this dept collectively!!!
every member of NL will contribute 10k each
gather the money and play 2odd
maybe we can help !!!!

Nigeria is our country ooo
and that dept is our dept !!!!

MxreR:
24T in just 4yrs with nothing to show

More than half of that was borriwed b4 2015. The world did not start rotating in 2015.

All this debt and no infrastructure to show for it.

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lawaljuliuss:
it's healthy

Are you sure? How can the debt stock be declared as healthy when over 50% of government revenue is spent on debt servicing? Although simplistic, try to imagine spending over 50% of your annual income on debt payments and then assess your financial health.

APC seem to have picked up where PDP left but are insisting they have a new direction for us.

obailala:
More than half of that was borriwed b4 2015. The world did not start rotating in 2015.

And what has Buhari and APC done differently from PDP they like to demonize every 10 days? What exactly?

They are borrowing and claiming infrastructure will spur the economy but is our increase in borrowing commensurate with the infrastructural increase we are seeing.
At the base of these mismanagement and lies is our booty mentality towards oil earning. We keep seeing oil money as something to be shared and used to develop strange places and it has brought us far more problems than any mushroom development we have been able to record in the past 50 years. Most project these monies were partly spent on were also conceived and commended before 2015 and I see no reason for the before 2015 part.

Debt at December 2018 is #24.387 trillion.

Debt at December 2017 is #21.7 trillion.

Thus government borrowed #2.687 trillion in 2018.



Sai Baba and family enriching friends and family. That's why Atiku made a correlated statement.



Thieves in government

Domestic component ko, Wild component ni. Bottom line is, the government has got Nigeria hustling backwards.

Borrowing to consume.

They should focus on treasury bills not going for 30 years loan which another government will pay , do they think APC will rule forever?

They have taken our debt to next level

bhella10:
That's a sh**t load of debt. We can sell one of these mushroom SE states to offset this debt if...

So that unproductive North can accrue furthermore?

obailala:
More than half of that was borriwed b4 2015. The world did not start rotating in 2015.

This government promised to offset these debts with their $1 = N1. Then they go and escalate the free fall themselves. There is no excuse.

I thought it was the lowest according to a certain pastor.

It is gloomy if we have debts in trillions and have nothing in terms of development to show for it. This government needs to sit up and get their acts right.

nkem12345:
As long as the debt is domestic, it is not completely gloomy. However, it is important for the government to adequately work on improving its debt figures by seeking to expand its fiscal policy.

Od1n:


This government promised to offset these debts with their $1 = N1. Then they go and escalate the free fall themselves. There is no excuse.

Firsty, what has $1 = N1 got to do with national debt?... It seems some people just come online to speak off-point because they see others talking. And by the way, nobody ever made any $1 = N1 promise, the statement was never made anywhere by anybody, it was just another one of the typical election lies which went too far. But if you choose to dwell on that, feel free.

CodeTemplar:
And what has Buhari and APC done differently from PDP they like to demonize every 10 days? What exactly?

They are borrowing and claiming infrastructure will spur the economy but is our increase in borrowing commensurate with the infrastructural increase we are seeing.
At the base of these mismanagement and lies is our booty mentality towards oil earning. We keep seeing oil money as something to be shared and used to develop strange places and it has brought us far more problems than any mushroom development we have been able to record in the past 50 years. Most project these monies were partly spent on were also conceived and commended before 2015 and I see no reason for the before 2015 part.

The borrowing is much and the debt is piling, but please don't try to compare the current borrowing to the borrowing of the past; there is no basis for comparison here. It is very logical and expected for a person to borrow in times of dwindling income/recession. Our greatest concerns should be whether the funds being borrowed are deployed to verifiable projects.

Nobody seems to question the anomaly that almost half of the current debt figure was borrowed between 2010 and 2015, at a time when the nation's income was at its peak (most people are actually ignorant of this fact and are being made to believe the entire debt appeared today). You really can't compare pre-2015 borrowing when income was high to post-2015 when national income dropped by more than 60%.

The 2 most important things we should be worried about and questions we should be asking are:
(1) Why was so much borrowed between 2010 and 2015 when income was high?
(2) The funds borrowed today, are they being channeled to sensible projects?

obailala:
The borrowing is much and the debt is piling, but please don't try to compare the current borrowing to the borrowing of the past; there is no basis for comparison here. It is very logical and expected for a person to borrow in times of dwindling income/recession. Our greatest concerns should be whether the funds being borrowed are deployed to verifiable projects.

Nobody seems to question the anomaly that almost half of the current debt figure was borrowed between 2010 and 2015, at a time when the nation's income was at its peak (most people are actually ignorant of this fact and are being made to believe the entire debt appeared today). You really can't compare pre-2015 borrowing when income was high to post-2015 when national income dropped by more than 60%.

The 2 most important things we should be worried about and questions we should be asking are:
(1) Why was so much borrowed between 2010 and 2015 when income was high?
(2) The funds borrowed today, are they being channeled to sensible projects?

Now that the pre-2015 loans are in existence what does Buhari and APC intend to do about it? Are we going to suffer for the whole 8 years because PDP and GEJ messed up?
That's why I don't like rating govt performance based on another govt or admib but by what is available. It gives political biased folks something to hold on to. The fact that GEJ had more to work with doesn't mean what PMB has is too little. Let them work wholeheartedly and stop using events ( mostly corruption ) they have no moral rights to reverse as excuse. If with the hige leakages GEJ allowed in subsidy are blocked and alternative energy sources like gas turbines have been touched even averagely by the current admin, by now our subsidy figure and wasted forex on petrol and diesel imports will be modest.

Look at herdsmen issue and all the stupid proposition we keep seeing, Is PDP also to blame for that also? As long as the govt keep taking side on pressing and critical issues like farmers herdsmen clashes no one will take them seriously. At the end of the day all these issues influences our debt profile but it seems the govt of APC/Buhari is only interested in going the same direction we have maintained since 1970.

CodeTemplar:
Now that the pre-2015 loans are in existence what does Buhari and APC intend to do about it? Are we going to suffer for the whole 8 years because PDP and GEJ messed up?
That's why I don't like rating govt performance based on another govt or admib but by what is available. It gives political biased folks something to hold on to. The fact that GEJ had more to work with doesn't mean what PMB has is too little. Let them work wholeheartedly and stop using events ( mostly corruption ) they have no moral rights to reverse as excuse. If with the hige leakages GEJ allowed in subsidy are blocked and alternative energy sources like gas turbines have been touched even averagely by the current admin, by now our subsidy figure and wasted forex on petrol and diesel imports will be modest.

Look at herdsmen issue and all the stupid proposition we keep seeing, Is PDP also to blame for that also? As long as the govt keep taking side on pressing and critical issues like farmers herdsmen clashes no one will take them seriously. At the end of the day all these issues influences our debt profile but it seems the govt of APC/Buhari is only interested in going the same direction we have maintained since 1970.

You're talking about herdsmen and all, and I'm here wondering what that has to really do with the discussion on loans and the nation's debt level. Hopefully this discussion hasn't drifted into general govt bashing.

Back to the topic, the point I tried to make earlier was that the loans are a necessary evil which Nigeria cannot do without for now. For a country like Nigeria where the govt has very little income compared to the current infrastructure deficit, taking loans to finance capital expenditure is inevitable. If not for those loans, Nigeria would still be neck deep in recession which would have been far worse by now. The loans or the debt isn't the problem, stop viewing it as if it were a problem; a government borrowing or not borrowing is not a yardstick to measure performance... The real problem we should be concerned with is, are the loans being used for sustainable capital projects? That is what we should be focused on and talking about, not anything else.