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Atiku Raises Alarm Over Nigeria’s N25.6trn Debt - Politics (3) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Atiku Raises Alarm Over Nigeria’s N25.6trn Debt (19939 Views)

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Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Bizibi(m): 6:53pm On Jul 10, 2019
RealLordZeus:
External Debt in Egypt increased to 96612.10 USD Million in the fourth quarter of 2018 from 93130.70 USD Million in the third quarter of 2018.


External Debt in South Africa increased to 176004 USD Million in the first quarter of 2019 from 172384 USD


External Debt in Nigeria decreased to 21591.68 USD Million in the fourth quarter of 2018 from 29591.68 USD Million in the third quarter of 2018.

Source tradingeconomics.com


NOTE: I'm not in anyway justifying useless debt but every developing countries have a lot of this debt on their neck

Still should research further on whether the funds are not been executed for the purpose for which they are collected, not raising Nigerian heart rate with figures
look at Nigeria's level at this moment and look at the debt profile then ask yourself if we are really progressing.....
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Kenneth10110(m): 6:54pm On Jul 10, 2019
martineverest:
I hate when ex presidents, vice president, governors,senators etc that fleeced nigerian treasury dry wil come out and start giving advice/sympathy/criticism as if they care about the nation...what did they do when they had all the time in the world to change Nigeria

I hate hypocrites


But you are on of those who clamp on G boys you also are you not a hypocrite.
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Fhemmmy: 6:54pm On Jul 10, 2019
owila4luv:
stop talking sh*t in the name of political sentiments when people are talking sense in nation building. baba is a failure!

Baba is a failure, and Atiku isn't? For your information, aint supporting none of these old people that ought to have retired . . . .But i say it again, Atiku is a failure as much as Buhari is, NONE of them has anything to offer the nation

2 Likes

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Fhemmmy: 6:55pm On Jul 10, 2019
KidsNEXTdoor:


Only fools live in the past

Only fools support this evil administration

Smart man that wanna fix future without looking at the PAST, so if we should forget the past, why do you still want a man from the past to manage your future?

1 Like 1 Share

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Fhemmmy: 6:57pm On Jul 10, 2019
nextstep:


The freedoms of press; civil liberties; marked improvement in human rights and democratic practice; the mobile phone revolution; banking modernization/strengthening; rapid economic expansion; debt relief; man infrastructural improvements were initiated during this time.

Buhari has not improved any of these measures, and in fact, has retrogressed in most.

Sure, people complained during OBJ, YRD, and GEJ, but there's is a definite bite of suffering and hunger in the land under PMB. Even upon that Atiku allegedly stole money (which is yet to be proven by the APC in a court of law), life was way way better.

Please i am not saying that Buhari is any matter, all i am saying is that Atiku isn't any better and can never be . . . They are all same

1 Like

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Fhemmmy: 6:58pm On Jul 10, 2019
chiefolododo:
buhari has single-handedly borrowed at least 12Trillion dollars with nothing to show for it. Obj/Atiku's regime is far better that this one that has no clue on how to run government

How much was left in the coffer when bros Jonathan left the office? Again, Buhari and Atiku has NOTHING to offer, let's get real

1 Like

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Kaceman(m): 7:02pm On Jul 10, 2019
RealLordZeus:
External Debt in Egypt increased to 96612.10 USD Million in the fourth quarter of 2018 from 93130.70 USD Million in the third quarter of 2018.


External Debt in South Africa increased to 176004 USD Million in the first quarter of 2019 from 172384 USD


External Debt in Nigeria decreased to 21591.68 USD Million in the fourth quarter of 2018 from 29591.68 USD Million in the third quarter of 2018.

Source tradingeconomics.com


NOTE: I'm not in anyway justifying useless debt but every developing countries have a lot of this debt on their neck

Still should research further on whether the funds are not been executed for the purpose for which they are collected, not raising Nigerian heart rate with figures


So our country is not developing then
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Kuntos: 7:03pm On Jul 10, 2019
They should use dieziani and pat Jonathan to pay the debt now

1 Like

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by KidsNEXTdoor: 7:06pm On Jul 10, 2019
Fhemmmy:


Smart man that wanna fix future without looking at the PAST, so if we should forget the past, why do you still want a man from the past to manage your future?

Buhari destroyed Nigerian democracy in 1982.. Installed corruption as we know it today... Was in charge of petroleum ministry during Abacha regime...

Buhari is evil personified
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by RealLordZeus(m): 7:12pm On Jul 10, 2019
Bizibi:
look at Nigeria's level at this moment and look at the debt profile then ask yourself if we are really progressing.....
In comparison with other nations, I repeat the figure is healthy.
If Atiku is doing this as a patriot, what I expect is researching and exposing unaccounted debts, not flaunting figures for political sake. Every country in the world owe, courtesy capitalism being imposed on every nations by world powers and the larger the economy of a country the higher, usually the more the debt(USA as a case study) but in our case, our debt figure is far lower than those of Egypt and southafrica
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Nobody: 7:16pm On Jul 10, 2019
On the debt issue, there is an explanation, which is simple and succinct.

In 2014, oil crashed from $120 per barrel to $75 by May 29, 2015.

Meanwhile, Nigeria's breakeven oil price...the price we need oil at to earn enough revenue to run a budget without borrowing , has been at $140 for the past 2 years.

And since 2015, average oil prices have never gone above 75 dollars per barrel.

In other words, Nigeria has had to borrow at least $70 dollars for every barrel of oil we produce, plus we are also servicing debts from the past.

That's why we have a debt of N25 trillion.

And that's why people like HRH the Emir of Kano are telling us to remove subsidies....because that means some more savings. That is why we have to urgently diversify.

Atiku is right to worry about the debt. But if his party was still in power...they would have done exactly what the APC has been doing...borrow money to keep our heads above water. Because, right now, we haven't been earning enough from oil at all. (and this was true even during the years of high oil prices under GEJ).

If Buhari had not borrowed money, by now, salaries won't have been paid for years .Everyone would be in debt, and not just the federal and state civil servant. And the economy would have been worse than Venezuela's.
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by teebaxy(m): 7:17pm On Jul 10, 2019
femtex007:
you are mentally derailed you this useless asshole. Must I think the way u think? U, ur family, ur generation are cursed. Foolish monkey.
To hell with you and you foolish thought .... Oloriburuku ni gbogbo iran eeee

1 Like

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by SavageMajor(m): 7:24pm On Jul 10, 2019
Politicians never tell the truth
Not just Nigerian politicians alone, politicians worldwide are liars, it all depends on how savage your lying skills have gone up to.
That's why I don't f**k with politicians
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by CodeTemplar: 7:24pm On Jul 10, 2019
Debt wasn't any better under PDP. Though Buhari has messer up too.
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Bukden16(m): 7:25pm On Jul 10, 2019
AbuuBilaal:
Firstly, this corrupt old man should bury his face in dirt. We all know you have no good for this nation.

Secondly, perhaps this man forgot that there's interest on the money that past president's borrowed. I'm almost certain that a large part of the figure is due to the interest on the previous debts.

Lastly, my advise for this man is for him to assist in progress not inciting gullible masses with erroneously interpreted and presented figures.

But come to think of it. If this man became president, do you think Nigeria's debt won't triple by 2023?

Ponder!


Regarding your last question.
Oga let's face the present which will lead us to 2023.
What do think is going to be debt profile of Nigeria, by then?

Since the interest rate of the existing debt will continue to raise and the President Buhari led administration is likely and will definitely borrow more .

Don't you the figure is going to triple times x 3?
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by chinedumoooo: 7:26pm On Jul 10, 2019
You speak as if you are concern about this country and forgot in a hurry how you looted and embezzle Nigeria resources through your fake privatization.
Atiku, you better mute because you have all the opportunities under obj to fixed the power section,the bad roads, encourage agriculture mostly locally made products as the chairman of national economy council but what happened nothing.
You can't be the president of this country because you are not destined for that.
To make the story short you are corrupt and should be jail by now
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by nelsonoba: 7:26pm On Jul 10, 2019
Fhemmmy:


And during the time of OBJ/Atiku, what was their achievement or isn't he enjoying the money stolen at that time now?

One of their achievements was that they PAID OFF ALL OF NIGERIA'S DEBTS including the ones accumulated from years of past military governments.

Think with your brain before supporting Buhari blindly!
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by ClearFlair: 7:28pm On Jul 10, 2019
bellachibaby:
The presidential candidate of the Peoples Democratic Party (PDP) in the February 23 presidential election, Atiku Abubakar, has raised the alarm on over the nation’s N25.6trn debt, saying it’s unsustainable.

Atiku said the increasing debt profile of the country is becoming more than a source of concern, adding that the situation has got to a stage where all genuine lovers of Nigeria ought to raise an alarm. Thickmatch reports'

Atiku, in a statement Wednesday by his media adviser, Paul Ibe, recalled that the nation’s debt profile as of May 29, 2015 when President Muhammadu Buhari took over, was ₦12 trillion.

“However, after four years of profligate spending, and even more irresponsible borrowing, our national debt doubled to ₦24.3 trillion by December, 2018.

“As alarming as this is, what is more troubling is that between December 2018 and March 2019, the administration of General Buhari added an additional and unprecedented ₦560 billion debt to our national debt profile.

“What could this junta have needed that amount for? If you take those dates into account, they fall on the period of electioneering, when monies were freely distributed by officials of this government in the name of Tradermoni and other election gimmicks that were discontinued after the election”, Atiku added.

The one time Vice President said it’s inconceivable that Nigeria could have had such unprecedented borrowings in the midst of almost unimaginable sorrowing.

This, he observed, has resulted in the country becoming the world headquarters for extreme poverty and the global capital of out of school children, noting further that Nigeria has slipped in the Corruption Perception Index of Transparency International.

Continuing, Atiku said, “As someone who headed the National Economic Council that paid off Nigeria’s entire debt under the visionary leadership of President Olusegun Obasanjo, Atiku Abubakar has the moral authority to call those who are turning Nigeria into a beggar nation to halt the drift into unsustainable borrowing.

“We cannot continue to borrow to pay salaries and support luxuries. Already, over 50% of our revenue is going towards debt servicing, not even debt repayments.

“We raise this alarm as responsible citizens and call on other lovers of Nigeria to speak up as we have no other nation to call our home, but Nigeria”

https://www.google.com/amp/s/thenationonlineng.net/atiku-raises-alarm-over-nigerias-n25-6trn-debt/amp/
After robbing the Nation blind they are raising false alarm. Very funny people. grin

2 Likes 1 Share

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by ClearFlair: 7:29pm On Jul 10, 2019
chiefolododo:
Buhari is a curse to this nation

Buhari is the curse of criminals. You go suffer

2 Likes 3 Shares

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by plaetton: 7:30pm On Jul 10, 2019
AbuuBilaal:
Firstly, this corrupt old man should bury his face in dirt. We all know you have no good for this nation.

Secondly, perhaps this man forgot that there's interest on the money that past president's borrowed. I'm almost certain that a large part of the figure is due to the interest on the previous debts.

Lastly, my advise for this man is for him to assist in progress not inciting gullible masses with erroneously interpreted and presented figures.

But come to think of it. If this man became president, do you think Nigeria's debt won't triple by 2023?

Ponder!
Sharap dia.
Atiku knows exactly what he is talking about.
You , on the other hand , do not know what you're talking about.

At the inception of the Buhari government, Auntie Kemi, the former minister of finance, went on record to state that Nigeria's debt to GDP ratio ,and hence, Nigeria's debt profile was very very low.
The interpretation for dummies like you was that the previous government had kept debt low while still managing to grow the economy in the previous years.

Since then, and without any genuine economic blueprint, the Buhari government has gone on a borrowing binge, obviously to finance elections and nonproductive programs .

With only $3b foreign reserves and $38b foreign debt, the PDP under the leadership of OBJ and Atiku, then under Yaradua and later GEJ, eliminated our foreign debts, raised the reserves hovering in the $40b to $50b range, grew the economy year after year, expanded middle class, nurtured a strong democracy and ran a pan- Nigerian government.

Under Buhari and the APC, Nigeria has returned to the Abacha days of governance without vision, Tyranny , unbridled Nepotism . Aso Rock has once again been turned into a feudal medieval court , and all Nigerians , except the court jesters, are now living as serfs.

1 Like 1 Share

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by femtex007(m): 7:31pm On Jul 10, 2019
teebaxy:
To hell with you and you foolish thought .... Oloriburuku ni gbogbo iran eeee
u see lazy Nigerian youth. The atiku you are supporting didn't even know you. And u are here dying for him. Omo Ale. Dead pig

1 Like

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by 11doubledee: 7:33pm On Jul 10, 2019
AbuuBilaal:
Firstly, this corrupt old man should bury his face in dirt. We all know you have no good for this nation.

Secondly, perhaps this man forgot that there's interest on the money that past president's borrowed. I'm almost certain that a large part of the figure is due to the interest on the previous debts.

Lastly, my advise for this man is for him to assist in progress not inciting gullible masses with erroneously interpreted and presented figures.

But come to think of it. If this man became president, do you think Nigeria's debt won't triple by 2023?

Ponder!
Dont mind that enemy of the nation.The main reason is the plunging of the value of the naira and accrued interest on those loans usually given in foreign currencies.
Although buhari borrowed also to compensate for income shortfall from oil revenues.We are yet to feel his impact too.

1 Like

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by teebaxy(m): 7:34pm On Jul 10, 2019
femtex007:
u see lazy Nigerian youth. The atiku you are supporting didn't even know you. And u are here dying for him. Omo Ale. Dead pig
but the buhari you are supporting is your uncle abi
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by martineverest(m): 7:35pm On Jul 10, 2019
Kenneth10110:


But you are on of those who clamp on G boys you also are you not a hypocrite.
what is this one saying?
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Fhemmmy: 7:35pm On Jul 10, 2019
nelsonoba:


One of their achievements was that they PAID OFF ALL OF NIGERIA'S DEBTS including the ones accumulated from years of past military governments.

Think with your brain before supporting Buhari blindly!

Go and do your research well, you mean they were able to secure forgiveness? They never paid in FULL, they were forgiven . . . There is a difference between both, read well . . . I support no ONE

1 Like

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Fhemmmy: 7:36pm On Jul 10, 2019
KidsNEXTdoor:


Buhari destroyed Nigerian democracy in 1982.. Installed corruption as we know it today... Was in charge of petroleum ministry during Abacha regime...

Buhari is evil personified


You still don't get it, is Buhari, Atiku and all these old people with nothing to offer the best Nigeria can provide to rule them?

1 Like

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Nchenches: 7:37pm On Jul 10, 2019
As if Buhari supporters care a hoot, so long as revenues from oil and others trickle in to Abuja to sustain federal government

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Princedapace(m): 7:40pm On Jul 10, 2019
AbuuBilaal:
Firstly, this corrupt old man should bury his face in dirt. We all know you have no good for this nation.

Secondly, perhaps this man forgot that there's interest on the money that past president's borrowed. I'm almost certain that a large part of the figure is due to the interest on the previous debts.

Lastly, my advise for this man is for him to assist in progress not inciting gullible masses with erroneously interpreted and presented figures.

But come to think of it. If this man became president, do you think Nigeria's debt won't triple by 2023?

Ponder!

All what u have said, did it change the fact that Buhari borrowed N560 billion within the period under study? Did it also change the fact that the so called trader moni is no longer effective the way it was few months before lection.

My happiness is that na all of us, including u and our kids to be born will pay for the debt.

Supporting a politician does not mean u shouldn't be rationale. Worse part is na mostly broke and unemployed and underemployed citizens Dey die on top these old criminals head.
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Edge1(m): 7:41pm On Jul 10, 2019
AbuuBilaal:
Firstly, this corrupt old man should bury his face in dirt. We all know you have no good for this nation.

Secondly, perhaps this man forgot that there's interest on the money that past president's borrowed. I'm almost certain that a large part of the figure is due to the interest on the previous debts.

Lastly, my advise for this man is for him to assist in progress not inciting gullible masses with erroneously interpreted and presented figures.

But come to think of it. If this man became president, do you think Nigeria's debt won't triple by 2023?

Ponder!


I guess you haven't eaten today, please do so then come back here to delete this trash.

So OBJ is a saint and Atiku yet to be convicted of any crime is a criminal?

I repeat, go and eat.

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Bizibi(m): 7:45pm On Jul 10, 2019
RealLordZeus:

In comparison with other nations, I repeat the figure is healthy.
If Atiku is doing this as a patriot, what I expect is researching and exposing unaccounted debts, not flaunting figures for political sake. Every country in the world owe, courtesy capitalism being imposed on every nations by world powers and the larger the economy of a country the higher, usually the more the debt(USA as a case study) but in our case, our debt figure is far lower than those of Egypt and southafrica
it seems you don't understand, you borrow to show for nothing in the past 4 years,not one single thing that will make Nigeria pay back to reduce the debts and we are obviously going to borrow more.infact when all this show is over by 2035,we will have to start begging our debtors to either take our resources or kneel down to reduce the debt.then we will be the ones to do the begging when our generation takes over.
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by AngelicBeing: 7:45pm On Jul 10, 2019
sad
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Onigbindemmd: 7:46pm On Jul 10, 2019
When will OBJ, Danjuma, Adebanjo, Oyedepo testify at the Presidential Tribunal � or are they not part of Atikulate witnesses?

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