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Obasanjo Gets Nigeria’s Debt Figures Wrong - Politics (5) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Obasanjo Gets Nigeria’s Debt Figures Wrong (23752 Views)

Re: Obasanjo Gets External Debt Figures Wrong - APC Is Misquoting Obasanjo / Buhari Rejects National Assembly’s Debt Figures For States / Despite Being An Ex- President, Obasanjo Gets New Office (2) (3) (4)

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Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by tck2000(m): 9:29am On Dec 30, 2019
.
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by orisa37: 9:31am On Dec 30, 2019
The Cabal's deaf to hearing and they're many in the Senate.
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by RexTramadol1: 9:47am On Dec 30, 2019
rusher14:



Let's come to 2019
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by rusher14: 10:08am On Dec 30, 2019
RexTramadol1:




Let's come to 2019

Ok.

What is the problem?
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by ibechris(m): 10:16am On Dec 30, 2019
Any sane person here arguing with these Buhari followers will soon look like a fool.


Buhari followers don't like reading facts,they are as dumb as the same Buhari.

In one of Amaechi's leaked videos,he said Buhari just signed anything on his table,does he even read.

So,leave these element of backwardness to their fate.
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by RexTramadol1: 10:36am On Dec 30, 2019
rusher14:


Ok.

What is the problem?



Alright.




Tell us the debt profile
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by rusher14: 10:38am On Dec 30, 2019
RexTramadol1:




Alright.




Tell us the debt profile

You are making a claim so please the floor is yours.

You go first.
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by Opotoyi5: 10:39am On Dec 30, 2019
MANNABBQGRILLS:
wink

To the enemies of Nigeria........
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by Kawabonga: 12:21pm On Dec 30, 2019
Louisananda7:
baba buhari better pass this man.
In what ways is Buhari better??
Keeping deluding yourself.
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by Nobody: 12:28pm On Dec 30, 2019
MANNABBQGRILLS:
wink

To the enemies of Nigeria........
You are Nigeria's number one enemy, you sold your soul to Buhari 4 30 thousand naira.
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by ajl: 4:13pm On Dec 30, 2019
Back to square one. Obasanjo help pay back Nigeria debt in 2004 by getting 60% discount to pay $12 Billion instead if $30 billion which was actual amount. Fifteen years later debt now stand at $28 billion. Asked yourself what did they use the money for. The debt also include amount Jonathan govt collected even though he had massive oil price windfall. I am familiar with this numbers because I use to track the data and also remember I posted a chart on this on Nairaland during Jonathan years. Obviously Buhari govt collected much more.
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by amc: 5:12pm On Dec 30, 2019
ohameakpu:
External debt at $27b and domestic debt at $56b is crazy. With intention to still borrow $30b.

The problem is not collecting debt cos every country needs it to grow but our Challenge is Revenue. Most of these loans would still end up in peoples pockets.

My concern is not that Obj miss quoted the figure, but how do we intend to pay them.

Your concern is valid and understandable.

And OBJ might be concerned as well but he is also playing to the gallery. He knows what he is doing. He is trying to tell his gullible followers that Buhari has taken our external debt from $10.32bn to $81.2bn knowing fully well the outcry that will follow such revelation.

1 Like

Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by amc: 5:34pm On Dec 30, 2019
GEJDHERO:
My friend Zombie Google is your friend ooo.Nigerias external debt is $81.2bn about N24.5 trillion

Olodo. You obviously don't know the difference between external and domestic loans. What a waste.
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by GEJDHERO: 5:38pm On Dec 30, 2019
amc:


Olodo. You obviously don't know the difference between external and domestic loans. What a waste.
You are the Olodo here. Google it b4 u start sphewing rubbish.
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by amc: 5:41pm On Dec 30, 2019
ibechris:
Any sane person here arguing with these Buhari followers will soon look like a fool.

Buhari followers don't like reading facts,they are as dumb as the same Buhari.

In one of Amaechi's leaked videos,he said Buhari just signed anything on his table,does he even read.

So,leave these element of backwardness to their fate.

A fool is known by his speech. The facts are there before you and you are still talking rubbish. Nigeria's external debt is not $81.2bn that OBJ quoted. If you can't get that after 5 pages of discussion, then I am afraid it might be too late for you to get some sense.
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by amc: 5:42pm On Dec 30, 2019
GEJDHERO:
You are the Olodo here. Google it b4 u start sphewing rubbish.

Even if you swallow it, you still wont get it. I even doubt you know how to use google. Olodo.

But let me help your lazy ass since you refuse to get knowledge.

Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by Basher8583: 5:55pm On Dec 30, 2019
Wiseandtrue:

Old age Someone who went through alot to cancel the previous debts

The message is not about the accuracy of the figure, it's about the debt profile which could lead YOU and your future unborn generation into perpetual bankruptcy.

Get that into your skull and

So did he handover to Buhari or APC? Or was he sleeping when his comrades aka Yaradua and GEJ were busy inflating our debt.

Berra go and find something to do man
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by amc: 5:57pm On Dec 30, 2019
weyreypey:


Was OBJ talking about June? Don't be useless.

The DMO is the authority on our debt profile. And the last published debt profile was in October, which would be for the period up to June 30.

You need to go back and educate yourself all over again. You wasted money the first time even though iot is obvious you bought your certificate.
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by BigTosine: 6:49pm On Dec 30, 2019
Ebora owu got it right are states not part of the Nigeria federation? If you sum up figures together our debt is around $83B. PMB and APC have borrowed the future of our future generations.
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by ofwest47(m): 7:08pm On Dec 30, 2019
When money was money, for eleven year rule what did Obasan_ro (lie lie ) did to boost the Nation, rather, he said he made the richest woman in Africa and 25 others as billionaires
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by weyreypey: 7:23pm On Dec 30, 2019
amc:


The DMO is the authority on our debt profile. And the last published debt profile was in October, which would be for the period up to June 30.

You need to go back and educate yourself all over again. You wasted money the first time even though iot is obvious you bought your certificate .
From your uncle shey?

Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by amc: 7:31pm On Dec 30, 2019
BigTosine:
Ebora owu got it right are states not part of the Nigeria federation? If you sum up figures together our debt is around $83B. PMB and APC have borrowed the future of our future generations.

If that is what he mean to say, then he should have said our debt in 2015 was $63.81bn, not $10.32bn. So he got the figures wrong, however you people want to spin it.

In summary, our debt profile at the end of June 2015 was $63.81bn and our debt at the end of June 2019 was $81.2bn

Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by bindukwe(m): 7:45pm On Dec 30, 2019
The figure quoted might be wrong but the warning he gave is fair.

Its common sense not to use debts to service other debts.
You will be accruing unreasonable interests.

Isolating his mistake seems like an agenda on your part to make the warning look out of place.

I could be wrong, but its hard not to come to that conclusion.
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by ajl: 8:15pm On Dec 30, 2019
amc:


If that is what he mean to say, then he should have said our debt in 2015 was $63.81bn, not $10.32bn. So he got the figures wrong, however you people want to spin it.

In summary, our debt profile at the end of June 2015 was $63.81bn and our debt at the end of June 2019 was $81.2bn

When you throw numbers around without presenting the details people get confused. Often when one talk of Nigeria debt stock they often think of only total external debt, not both external and domestic. It's good you showed the table that states each debt category.

The question is what was Nigeria debt profile before Jonathan became president (April 2011). One can the compare to the debt stock at June 2015 and the current number. I actually have thr numbers but will have look for the Excel file. I use to download the data from website of the debt mgt office. I will look for it and the chart, and will post here.
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by amc: 9:05pm On Dec 30, 2019
bindukwe:
The figure quoted might be wrong but the warning he gave is fair.

Its common sense not to use debts to service other debts.
You will be accruing unreasonable interests.

Isolating his mistake seems like an agenda on your part to make the warning look out of place.

I could be wrong, but its hard not to come to that conclusion.

A look at the World's 20 Biggest Debtor Nations should tell you debt is not a bad thing. It is what you use the loan for that matters. The aim should be to increase revenue and GDP, with serious infrastructural development. Something we never did with all the money we borrowed in the past.

OBJ's "warning" smacks of sensationalism and that is his agenda. He knows what he is doing and the original article was only pointing out his error. I am sure he is sitting somewhere smiling and fully satisfied with the result of his "error".

Now, you cant expect us to sit back and watch people believe and continue to repeat the lie even after it has been pointed out to them. It is more dangerous to ignore the lies.

1 Like

Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by bindukwe(m): 9:21pm On Dec 30, 2019
amc:


A look at the World's 20 Biggest Debtor Nations should tell you debt is not a bad thing. It is what you use the loan for that matters. The aim should be to increase revenue and GDP, with serious infrastructural development. Something we never did with all the money we borrowed in the past.

OBJ's "warning" smacks of sensationalism and that is his agenda. He knows what he is doing and the original article was only pointing out his error. I am sure he is sitting somewhere smiling and fully satisfied with the result of his "error".

Now, you cant expect us to sit back and watch people believe and continue to repeat the lie even after it has been pointed out to them. It is more dangerous to ignore the lies.


Quite a solid argument you have up there.

But...

The warning remains fair, given how the money is being spent.
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by GEJDHERO: 9:44pm On Dec 30, 2019
amc:


Even if you swallow it, you still wont get it. I even doubt you know how to use google. Olodo.

But let me help your lazy ass since you refuse to get knowledge.
Olodo kobo kobo .... just like your Master Buhari.See what am talking about below
Nigeria's debt profile rises to $81.27 billion in the first quarter of 2019


Nigeria's debt profile rose by 2.3% to $81.27 billion (N24.947 trillion) as at March 2019, according to the Debt Management Office (DMO) data seen by Business Insider SSA.

In its Q1 public data report released on Wednesday, the Debt Management Office said the figure represents N560 billion increase in the total public debt from $79.437 billion recorded in December 2018.

According to the DMO, domestic debt recorded N458.363 billion increase across federal, states and federal capital territory while external debt increased by N101.6 billion during the same period.


Patience Oniha, Director-general, Debt Management Office (DMO), reiterated that the “total public debt to GDP ratio stands at 19.03% which is within the 25% debt limit imposed by the government.”

Foreign Debt level

FGN + States & FCT only - $25.61 billion
Domestic debt level

FG debt level - $42.72 billion
State and FCT - $12.94 billion
Source: Pulse Nigeria
#DEBT MANAGEMENT OFFICE #NIGERIA'S DEBT PROFILE #NIGERIA'S DEBT IN 2019
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by amc: 10:29pm On Dec 30, 2019
GEJDHERO:
Olodo kobo kobo .... just like your Master Buhari.See what am talking about below
Nigeria's debt profile rises to $81.27 billion in the first quarter of 2019


Nigeria's debt profile rose by 2.3% to $81.27 billion (N24.947 trillion) as at March 2019, according to the Debt Management Office (DMO) data seen by Business Insider SSA.

In its Q1 public data report released on Wednesday, the Debt Management Office said the figure represents N560 billion increase in the total public debt from $79.437 billion recorded in December 2018.

According to the DMO, domestic debt recorded N458.363 billion increase across federal, states and federal capital territory while external debt increased by N101.6 billion during the same period.

Patience Oniha, Director-general, Debt Management Office (DMO), reiterated that the “total public debt to GDP ratio stands at 19.03% which is within the 25% debt limit imposed by the government.”

Foreign Debt level

FGN + States & FCT only - $25.61 billion
Domestic debt level

FG debt level - $42.72 billion
State and FCT - $12.94 billion
Source: Pulse Nigeria
#DEBT MANAGEMENT OFFICE #NIGERIA'S DEBT PROFILE #NIGERIA'S DEBT IN 2019


Olodo. The coin has finally dropped. Why did it take you so long?

All you needed to do was visit the DMO website and you will see that General Obasanjo, just like you did not understand simple figures. See below for a concise summary of your copy and paste grammar.

https://www.dmo.gov.ng/

Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by amc: 10:38pm On Dec 30, 2019
ajl:


When you throw numbers around without presenting the details people get confused. Often when one talk of Nigeria debt stock they often think of only total external debt, not both external and domestic. It's good you showed the table that states each debt category.

The question is what was Nigeria debt profile before Jonathan became president (April 2011). One can the compare to the debt stock at June 2015 and the current number. I actually have the numbers but will have look for the Excel file. I use to download the data from website of the debt mgt office. I will look for it and the chart, and will post here.

Nobody is throwing numbers around. It is public information on the DMO website. And only illiterates would be confused with just two sets of numbers. And this is not a comparison exercise. We are just pointing out the General's error. You sound upset?

Since you asked, see a summary of our debt profile below.

June 2010 - $35bn
June 2015 - $63.81bn
June 2019 - 83.88bn
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by GEJDHERO: 11:08pm On Dec 30, 2019
amc:


Olodo. The coin has finally dropped. Why did it take you so long?

All you needed to do was visit the DMO website and you will see that General Obasanjo, just like you did not understand simple figures. See below for a concise summary of your copy and paste grammar.

https://www.dmo.gov.ng/
Olodo Kobo Kobo the bottomline is that Nigerias external debt is about N24.5 trillion . Buhari has finished this country.
Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by amc: 11:36pm On Dec 30, 2019
GEJDHERO:
Olodo Kobo Kobo the bottomline is that Nigerias external debt is about N24.5 trillion . Buhari has finished this country.

You are just as daft as your hero. grin

Read again and see how you failed a simple exam. Note the word "EXTERNAL".

Re: Obasanjo Gets Nigeria’s Debt Figures Wrong by pcicero(m): 5:10am On Dec 31, 2019
Who is this OP?

So, you claim to know more than Lai Mohammed the regime's spokesman who stated recently that our total debt stock is $83bn?


See link https://www.instagram.com/p/B6s4bIRAq87/?utm_source=ig_web_copy_link
channelstelevision The Nigerian Government has put the total public debt stock of the nation at $83 billion.

The Minister of Information and Culture, Mr Lai Mohammed, disclosed this while addressing a press conference on Monday in Ikeja, Lagos State.

He decried that the country’s debt stock was being misrepresented by those he described as scaremongers.

According to Mohammed, Nigeria is not in debt trouble as being circulated as the nation is within a reasonable debt to its Gross Domestic Product (GDP) ratio.

He explained that the debt was an accumulation of successive government activities, adding that the economic state of the country was good.

For more visit www.channelstv.com

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