Atiku Raises Alarm Over Nigeria’s N25.6trn Debt - Politics (4) - Nairaland
Nairaland Forum / Nairaland / General / Politics / Atiku Raises Alarm Over Nigeria’s N25.6trn Debt (19935 Views)
FG Dumps N16 Trillion Railway Projects For N2.6trn Lagos-calabar Coastal Road —I / Atiku Raises Team To Woo Wike, Rivers Governor’s Camp Remain Adamant / Nigeria Will Remain In Darkness Except FG Pays Our N1.6trn – GENCOS (2) (3) (4)
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| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by candygist: 7:47pm On Jul 10, 2019 |
chiefolododo: Are you a blessing ? I'm yet to feel your impact |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by executive12: 7:48pm On Jul 10, 2019 |
Buhari is burying Nigeria. |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by CptCharlesVane: 7:49pm On Jul 10, 2019 |
Questioned Obasanjo's system only after realising OBJ was unrelenting towards a third term which by the way, was going to affect his 2007 presidential ambition. Excessive borrowing, nepotism, selective 'justice', gross incompetence and clueless administration didn't begin when Atiku moved to PDP, he was with 'them' for over 3 years and he kept mum the whole time, not even close to Sanusi or El-Eufai who sometimes raise some of thes issues with curteous verbiage either out of respect for Buhari or loyalty to the APC. You only need to go back to Atiku's recent response to FFK about RUGA to know the kind of person he is. WTH does he mean by he takes the stance of the PDP? Are all members of the PDP united against RUGA? Atiku is a man with no conviction except that of his personal interest which for decades now has been to become president of Nigeria. He 'speaks for justice' when it serves his presidential ambition. So talk wetin we no know. Next level just started. Kylekent59: |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by executive12: 7:49pm On Jul 10, 2019 |
AbuuBilaal: Spoken like a fool. |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by executive12: 7:52pm On Jul 10, 2019 |
RealLordZeus: Zombie, keep deceiving yourself. |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by nelsonoba: 7:54pm On Jul 10, 2019 |
Fhemmmy: Oga, call it debt forgiveness or partial debt relief. The fact is that they paid off over $12billion (Dollars) out of the total money Nigeria was owing. I can't remember the total amount they paid, but I very well remember they paid over $12billion. If Obasanjo/Atiku could pay off over $12billion within a time when average oil price was less than the price of oil today under Buhari, then what excuse does Buhari have to perform so WOEFULLY?? In case you are not aware, during Obasanjo's First term between 1999 - 2003, Oil price was averaging below $32 per barrel. In fact, during 1999 - 2000, oil price even went as low as $17 per barrel. And despite that, Obasanjo managed to increase minimum wage several times and cough out over $12billion to pay off Nigeria's debts. You need to go hide your face in shame for having the courage to support such a daft and incompetent, corrupt man like Buhari. A man that is so corrupt that even when video evidence is tendered to the whole world to show Ganduje collecting dollars in bribe, he will still come out and defend him in public.....and he will be fooling people like you to believe he is fighting corruption! |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by femtex007(m): 7:55pm On Jul 10, 2019 |
teebaxy:I have the right to support the person I like. But cursing me is out of place |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by RealLordZeus(m): 7:58pm On Jul 10, 2019 |
executive12: I stated some fact and u called me zombie, well, it's well with your soul |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by nextstep(m): 8:03pm On Jul 10, 2019 |
Fhemmmy: And I'm saying that some leaders are better than others. Under OBJ and Atiku, Nigeria got remarkably better, which was sustained somewhat during GEJ. Under PMB on the other hand, Nigeria got remarkably worse. All our leaders have faults, but I'm yet to find anything redeeming about Buhari. |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Nobody: 8:05pm On Jul 10, 2019 |
Fhemmmy: This is the first time I'm seeing you comment on the political section. Your only know areas of interest are Auto & Property sections |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Legendguru: 8:07pm On Jul 10, 2019 |
but he is also among those qho put nigeria in debt years back |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by ogaontop(m): 8:13pm On Jul 10, 2019 |
AbuuBilaal: Seems you don't know finance even at barest minimum Not that i'm supporting Atiku, but the borrowing should be a big concern for all Nigerians When you borrow money from anywhere, be it bank, cooperative societies, trust funds, e.t.c, you must pay the agreed interest either monthly, quarterly or yearly as the case may be, there have never been a situation where both the principal and interest accumulate at the same time. Principal accumulates while interest is being paid out as agreed! Bulk of these Bihari borrowings(in trillions of Naira) comes from China at low rates, and what China does is when the agreed number of years have elapsed, they take up the management of the national assets like NNPC till whenever they recover their money! When Nigeria looses the management of NNPC to China, how do you think the country will succeed? No borrowings, No NNPC! And that will sure happen in few years to come if nothing is done now!! Then, Nigeria will shut down economically, even government officials will not see money to loot again, let alone normal citizens that govt doesn't care about! Lest I forget, part of the borrowings is also be used in servicing old debts of pre 2015, so both PDP & APC are guilty Buhari's administration has borrowed excessively for the past four years, irrespective of political affiliation, any right thinking Nigerian should cry out loud. If not, by the time they will be rounding their administration and pocket in the next four years, I bet you the debt should be approaching or even surpass 50 trillion Naira!!! |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Fhemmmy: 8:17pm On Jul 10, 2019 |
misterme: Lol . . .And you think auto and property isn't affected by political policies? I just most times chose not to talk about politics but once in a while, something of interest makes me unzip my cake hole |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Clem1011: 8:18pm On Jul 10, 2019 |
That post from Obj is not necessary, because there is no difference between him and Atiku, if those qualities he described Atitu of are true same can be said of him as they both served together then, if not he would have done some thing then, just that Atiku later abandoned him as at that time when he was writing that book, that's why he wrote that to tannish his political ambition because he knew Atiku will come back to contest. |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by zoogy2007: 8:19pm On Jul 10, 2019 |
Is it a crime to borrow? Every country owes. Let him also tell us how much is owed to Nigeria before we begin to shout Buhari. 2 Likes |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Fhemmmy: 8:20pm On Jul 10, 2019 |
nextstep: All those people you have mentioned allowed so much stealing and looting, while Jonathan told us that looting aint stealing, remember? Bros, the nation started getting horrible during the time of Jonathan, why do you think that the people rejected Jonathan, why will the people vote out a man that made their life better and allow a dullard to rule? i guess that means a smart man even lost to a dullard. Till Nigerians wake up and take back the nation from all these old people, we will always continue to do e-Yabbing. 1 Like |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Fhemmmy: 8:23pm On Jul 10, 2019 |
nelsonoba: Bros, when the price of oil then was 32PBL, remember that spending was based on that price, and when Jonathan was in power, spending and looting was based on over 100$Pb while spending became so high and now oil has gone to what, and has the cost of running the government gone down from what Bros OBJ and uncle Jona made it rise to? What was the debt left behind when Uncle Jona left office? 1 Like |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Daniel207(m): 8:47pm On Jul 10, 2019 |
If atiku really love Nigeria than Cameroon, he should hold a meeting with looter saraki and pay our debt out of our looted fund they had. �� 1 Like |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by obailala(m): 8:53pm On Jul 10, 2019 |
Gbengais:But at the time, NOI was a part of the economic council which was headed by the VP; NOI reported directly to Atiku then. So he genuinely also shares the bragging rights. |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by ofwest47(m): 9:01pm On Jul 10, 2019 |
This thief thief Atiku should go and sleep you are gone and gone forever. 1 Like |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by 11doubledee: 10:17pm On Jul 10, 2019 |
martineverest:I worry more about the way some youths who are supposed to be wiser and smarter even support these wicked souls. A debt (if foreign)of 12trillion naira in 2015 is the same as 21trillion naira 2019 as we discuss. So who is fooling who? People should understand things before they react. |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by nelsonoba: 10:18pm On Jul 10, 2019 |
Fhemmmy: Leave Jonathan out of the issue here and talk of OBJ because you people's excuse for voting in Buhari was that Jonathan did not perform to your standard. My question is this; If OBJ could put together a bunch of intelligent economic team to manage the economy in such a way that we sewed our coat according to our size and still paid up over $12billion debt with oil prices much lower than what we have now that Buhari is complaining and saying oil price is low, THEN WHAT EXCUSE DOES BUHARI HAVE TO NOT PERFORM AT LEAST UP TO OBJ'S ACHIEVEMENTS? A man who is a retired general like you was president of the same country, and despite all the corruption in Nigeria at that time and much lower oil price, he still managed to stop our borrowing and even paid off over $12billion, And then you that claim to be fighting corruption and enjoying higher oil prices than OBJ ever dreamed of during his tenure is here complaining about how you can't do much. Anybody who supports this incompetent Buhari with these nonsense excuses he gives must be a mediocre that has no taste for progress |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by gentlegenius(m): 10:36pm On Jul 10, 2019 |
AbuuBilaal:Foolishness is when you keep remembering what OBJ wrote about Atiku several years ago, but completely forget what the same OBJ wrote about Buhari in his recent letter to the empty head dullard. Your RUGA president has borrowed away your future and you are here talking trash. I think someone should declare a state of emergency on your Foolishness. |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by 11doubledee: 10:38pm On Jul 10, 2019 |
ussy09:Why?He may not be the best but far better than atiku. Mind you foreign debt of 12trillion naira in 2015 is the same as 21trillion naira in 2019.Technically so we have an idea of what buhari has borrowed so far to compensate for income shortfall in oil revenues. We may not have made a right choice in voting buhari but definitely a better choice given two evils. |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Nobody: 10:49pm On Jul 10, 2019 |
martineverest: Atiku was a VP, he never approved amy borrowing. And pls, focus on the issue, buhari has borrowed more than PDP borrowed in 16 years, just in 3 years |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Nobody: 10:53pm On Jul 10, 2019 |
RealLordZeus: Buhari has borrowed 13 trillion naira and hasn't executed n completed any single project. South Africa n Egypt have 100% constant electricity, they used their loans to make their country better, buhari borrows n sends the country into more poverty |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by martineverest(m): 10:54pm On Jul 10, 2019 |
11doubledee:I don't support anybody...did atiku say anything when debt increased from 3billion dollars to where it was in 2015 |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by asanwafo: 11:22pm On Jul 10, 2019 |
of the top ten countries with the most national debt: 1. Japan (National Debt: ¥1,028 trillion ($9.087 trillion USD)) 2. Greece (National Debt: €332.6 billion ($379 billion US)) 3. Portugal (National Debt: €232 billion ($264 billion US)) 4. Italy (National Debt: €2.17 trillion ($2.48 trillion US)) 5. Bhutan (National Debt: $2.33 billion (USD)) 6. Cyprus (National Debt: €18.95 billion ($21.64 billion USD)) 7. Belgium (National Debt: €399.5 billion ($456.18 billion USD)) 8. United States of America (National Debt: $19.23 trillion (USD)) 9. Spain (National Debt: €1.09 trillion ($1.24 USD)) 10. Singapore (National Debt: $350 billion ($254 billion US)) Japan, with its population of 127,185,332, has the highest national debt in the world at 235.96% of its GDP (although, notably, Japan is also one of the world's largest economies). This is followed by Greece, which is still recovering from the effects of its economic crisis and subsequent bailout, at 191.27%. Venezuela, which is currently undergoing serious economic difficulties, is also in the top five countries with the highest national debt, with a debt to GDP ratio of 161.99%. Several African countries also have high national debts, including Sudan (176.49%), Eritrea (129.43%) and Gambia (111.45%). Of the world's major economic powers, the United States has the highest national debt at 108.02% of its GDP. China, the world's second-largest economy and home to the world's largest population (1,415,045,928), has a national debt ratio of just 51.21% of its GDP. Germany , as Europe 's largest economy, also has a relatively low national debt ratio at 59.81%. Hong Kong, a major global financial center, has the lowest national debt in the world, at just 0.05% of its GDP. This is followed by the tiny Kingdom of Brunei with a population of just 434,076 and a national debt of 2.49% of its GDP IMF data from the April 2018 IMF World Economic Outlook database. Debt to GDP Ratio by Country 2019 Name National Debt to GDP Ratio Population Japan 234.18% 126,860,301 Greece 181.78% 10,473,455 Sudan 176.02% Venezuela 172.08% 28,515,829 Lebanon 160.57% 6,855,713 Italy 127.51% 60,550,075 Eritrea 127.34% 3,497,117 Barbados 127.31% 287,025 Cape Verde 126.66% 549,935 Portugal 117.54% 10,226,187 Mozambique 116.60% 30,366,036 United States 109.45% 329,064,917 Singapore 108.79% 5,804,337 Gambia 105.17% 2,347,706 Republic of the Congo 105.01% 5,380,508 Bahrain 102.01% 1,641,172 Belgium 99.08% 11,539,328 France 96.20% 65,129,728 Bhutan 96.05% 763,092 Yemen 95.83% 29,161,922 Belize 95.53% 390,353 Spain 95.12% 46,736,776 Jamaica 93.99% 2,948,279 Jordan 90.83% 10,101,694 Brazil 90.24% 211,049,527 Antigua and Barbuda 90.23% 97,118 Cyprus 89.52% 1,198,575 Dominica 87.25% 71,808 Egypt 87.08% 100,388,073 United Kingdom 85.92% 67,530,172 Canada 83.81% 37,411,047 Saint Vincent and the Grenadines 81.23% 110,589 Ukraine 76.86% 43,993,638 Sri Lanka 75.19% 21,323,733 Saint Lucia 74.91% 182,790 Tunisia 73.31% 11,694,719 Mauritania 73.17% 4,525,696 Maldives 72.82% 530,953 Zimbabwe 72.64% 14,645,468 Croatia 72.58% 4,130,304 Sao Tome and Principe 72.16% 215,056 Austria 71.97% 8,955,102 Angola 71.59% 31,825,295 Togo 70.57% 8,082,366 Slovenia 69.80% 2,078,654 Burundi 69.45% 11,530,580 Albania 68.50% 2,880,917 Zambia 68.04% 17,861,030 Suriname 67.73% 581,372 Pakistan 67.44% 216,565,318 India 67.29% 1,366,417,754 Laos 66.71% 7,169,455 Montenegro 66.50% 627,987 Puerto Rico 66.02% 2,933,408 Ghana 65.90% 30,417,856 Hungary 65.87% 9,684,679 Uruguay 65.17% 3,461,734 Ireland 64.86% 4,882,495 Sierra Leone 63.99% 7,813,215 Morocco 62.44% 36,471,769 Nauru 61.69% 10,756 Israel 61.38% 8,519,377 Finland 59.56% 5,532,156 Gabon 59.34% 2,172,579 Mauritius 59.11% 1,269,668 El Salvador 58.83% 6,453,553 Senegal 58.75% 16,296,364 Namibia 58.52% 2,494,530 Vietnam 58.13% 96,462,106 Malawi 57.59% 18,628,747 Saint Kitts and Nevis 57.55% 52,823 Bahamas 56.95% 389,482 Kenya 56.95% 52,573,973 Grenada 56.72% 112,003 Ethiopia 56.70% 112,078,730 Azerbaijan 56.37% 10,047,718 Guyana 56.12% 782,766 Costa Rica 55.92% 5,047,561 Germany 55.75% 83,517,045 South Africa 55.70% 58,558,270 Armenia 55.58% 2,957,731 Serbia 55.09% 8,772,235 Kyrgyzstan 55.08% 6,415,850 San Marino 54.61% 33,860 China 54.44% 1,433,783,686 Iraq 54.44% 39,309,783 Seychelles 53.68% 97,739 Mexico 53.43% 127,575,529 Argentina 52.75% 44,780,677 Benin 52.64% 11,801,151 Malaysia 52.62% 31,949,777 Bolivia 52.31% 11,513,100 Qatar 51.96% 2,832,067 Vanuatu 51.70% 299,882 Netherlands 50.91% 17,097,130 Ecuador 50.05% 17,373,662 Belarus 49.93% 9,452,411 Tajikistan 49.88% 9,321,018 Poland 49.80% 37,887,768 Iran 49.21% 82,913,906 South Sudan 48.58% 11,062,113 Equatorial Guinea 48.41% 1,355,986 Oman 48.34% 4,974,986 Colombia 48.17% 50,339,443 Niger 47.53% 23,310,715 Ivory Coast 46.87% 25,716,544 Fiji 46.86% 889,953 Slovakia 46.56% 5,457,013 Samoa 46.25% 197,097 Malta 45.94% 440,372 Chad 45.39% 15,946,876 Guinea 44.69% 12,771,246 Trinidad and Tobago 44.67% 1,394,973 Uganda 44.51% 44,269,594 Central African Republic 44.37% 4,745,185 Georgia 44.09% 3,996,765 Honduras 44.08% 9,746,117 Rwanda 43.12% 12,626,950 Macedonia 42.22% 2,083,459 Moldova 41.99% 4,043,263 Lesotho 41.74% 2,125,268 Thailand 41.58% 69,625,582 Burkina Faso 41.34% 20,321,378 Switzerland 41.10% 8,591,365 Australia 41.05% 25,203,198 Swaziland 40.97% 1,148,130 Tanzania 40.72% 58,005,463 Liberia 39.12% 4,937,374 Romania 38.96% 19,364,557 Algeria 38.42% 43,053,054 Bosnia and Herzegovina 38.38% 3,301,000 South Korea 38.27% 51,225,308 Madagascar 38.02% 26,969,307 Dominican Republic 37.87% 10,738,958 Guinea-Bissau 37.59% 1,920,922 Panama 36.97% 4,246,439 Norway 36.66% 5,378,857 Mali 36.58% 19,658,031 Philippines 36.28% 108,116,615 Cambodia 36.19% 16,486,542 Denmark 35.06% 5,771,876 Iceland 34.88% 339,031 Myanmar 34.87% 54,045,420 Nicaragua 34.58% 6,545,502 Sweden 34.45% 10,036,379 Haiti 34.27% 11,263,077 Cameroon 34.06% 25,876,380 Turkmenistan 33.62% 5,942,089 Bangladesh 33.36% 163,046,161 Kiribati 32.88% 117,606 Kuwait 32.42% 4,207,083 Latvia 31.92% 1,906,743 Taiwan 31.83% 23,773,876 Tuvalu 31.49% 11,646 Lithuania 31.41% 2,759,627 Czech Republic 31.29% 10,689,209 Papua New Guinea 30.67% 8,776,109 Indonesia 30.25% 270,625,568 Djibouti 29.33% 973,560 Nepal 28.83% 28,608,710 Comoros 28.48% 850,886 Peru 28.01% 32,510,453 Turkey 27.86% 83,429,615 Nigeria 27.37% 200,963,599 Paraguay 26.06% 7,044,636 Guatemala 24.64% 17,581,472 Chile 24.62% 18,952,038 Saudi Arabia 23.83% 34,268,528 Marshall Islands 23.25% 58,791 Kazakhstan 23.14% 18,551,427 Bulgaria 22.86% 7,000,119 Luxembourg 22.80% 615,729 New Zealand 22.69% 4,783,063 Uzbekistan 20.65% 32,981,716 Micronesia 20.55% 113,815 Russia 19.48% 145,872,256 United Arab Emirates 19.35% 9,770,529 Solomon Islands 16.41% 669,823 DR Congo 13.31% 86,790,567 Botswana 12.84% 2,303,697 Estonia 8.12% 1,325,648 Afghanistan 6.32% 38,041,754 Brunei 2.46% 1 Like |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Lenny9000(m): 12:17am On Jul 11, 2019 |
Newshubs: Can you also make eye Catching Professional Flyer for same 1K? If Yes please get in touch ASAP. Thanks |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Fhemmmy: 2:12pm On Jul 11, 2019 |
nelsonoba: [b]How do you leave uncle Jona out, when we are talking of how we get to incur so much debt after it was forgiven during the time of OBJ/Atiku? Bros, let's try to reason logically and not with anger. OBJ/Atiku were able to get forgiveness of debt for Nigeria, and there were another 6 years of PDP after that, now with the rate at which looting was carried out then, what do you think will happen to the debt all over again? Your argument scares the heck out of me, when the oil price was so high in the time of Jona, government spending has gone madly up and so was the cost of running the government, so what your bros Buhari inherited is what he is still following. By the way, what do you really expect from Buhari? Cut down the Senators and their salary? Rezone so that the House of rep will be drastically reduced? Bros, Nigeria needs to get real and till we stop making politics looks lucrative, we can't get a headway Once again, i am not a supporter of Buhari and never will i be, i am just saying it as it is, Nigeria is a failed nation and not because of Buhari, but because the people are yet to wake up and fight back or take back their country from the so called polithieves.[/b] |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by nelsonoba: 3:01pm On Jul 11, 2019 |
Fhemmmy: We both know that the same number of Senators and Reps members we had in 1999 is still the same as we have today, so that is not the issue. The problem is massive corruption under the Buhari government coupled with gross incompetence. Jonathan and OBJ may have allowed some people to get away with corruption under their regimes, but THEY WERE NOT GROSSLY INCOMPETENT LIKE BUHARI. What do i expect Buhari to do? Do the same thing OBJ did that enabled him cough out over $12billion to pay off debt with even lower oil prices than today. It is not rocket science. Everything comes down to allowing competent technocrats to handle the economy instead of gross nepotism going on under Buhari. Buhari doesn't need to know everything about economics to transform Nigerian economy, all he needs to do is to appoint very competent hands and give them a free hand like how OBJ gave Ngozi-Okonjo/Nenadi Usman/Charles Soludo. But corruption and nepotism will not allow him appoint such people......and yet we have some people still making excuses for him. Such travesty! |
| Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Newshubs: 3:27pm On Jul 11, 2019 |
Lenny9000:yes kindly see my Signature for my WhatsApp link |
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