erico2k2:

DOmestic debt is different frm External Debt and 4 ur Info I dont wail, no need to nothing in 9ja affects me!

Debt is debt whether foreign or domestic.

Until you accept that the 63 billion Dollar debt accrued by the past government was reckless, I would take your opinion on this matter with some distrust.

Nothing in Nigeria affects you yet you are on Nairaland commenting on debt.

rusher14:


Debt is debt whether foreign or domestic.

Until you accept that the 63 billion Dollar debt accrued by the past government was reckless, I would take your opinion on this matter with some distrust.

Nothing in Nigeria affects you yet you are on Nairaland commenting on debt.

ahah this guy U r so daft, I should accept a debt, can u listen 2 urself, how does this debt affect me as a person
63 B dollars my backside U are still submerged in APC/PDP saga, aint U lot tired or sufferation not wild enough

Then blame Me as well

rusher14:


He left a debt of 8 billion dollars.

So what happened to the highly publicised debt write off he won for the coutry.

My people don't let them borrow away your future

obailala:
Over 75% of Nigeria's current debt was actually borrowed by PDP even before PMB won that election in 2015. I'm sure you and many others arent aware of this FACT. If you were, you wouldnt have made the above statement placing the entire debt blame on the laps of APC. These figures are freely accessible to the reading public in the DMO website.

It quite unfortunate people like you make silly comment on such platform. You need to see and think beyond living within the shores of Nigeria stop been political. Both the present and latter government got no ambitious for the future generation. They both have failed the nation , instead of borrowing why not develop an enabling environment with the right system to generate revenue. Leaders in the west think outside the box to generate revenue and not inflict debt on generations. #been political doesn’t help the country. Apc or Pdp wouldn’t fix our country. People in there lack the innovation, capacity and zeal to make Nigeria great.

bouncesmail:


[s]It quite unfortunate people like you make silly comment on such platform. You need to see and think beyond living within the shores of Nigeria stop been political. Both the present and latter government got no ambitious for the future generation. They both have failed the nation , instead of borrowing why not develop an enabling environment with the right system to generate revenue. Leaders in the west think outside the box to generate revenue and not inflict debt on generations. #been political doesn’t help the country. Apc or Pdp wouldn’t fix our country. People in there lack the innovation, capacity and zeal to make Nigeria great[/s].

What exactly do we call humans who find it offensive when you correct a misconception? Is that the kind of innovative leadership you're advocating for? Since when has promoting falsehood and attacking people who make corrections become a worthy virtue? How exactly are you differerent from our dishonourable leaders who you castigate?

If you werent silly as you claim, you would have easily discerned that my comment was strictly to correct a wrong assertion made by the person I quoted regarding the country's debt profile; I wasnt being political by any measure.

Next time you should read to understand and not read to mannerlessly reply people you dont even know. Happy New Year!

obailala:

What exactly do we call humans who find it offensive when you correct a misconception? Is that the kind of innovative leadership you're advocating for? Since when has promoting falsehood and attacking people who make corrections become a worthy virtue? How exactly are you differerent from our dishonourable leaders who you castigate?

If you werent silly as you claim, you would have easily discerned that my comment was strictly to correct a wrong assertion made by the person I quoted regarding the country's debt profile; I wasnt being political by any measure.

Next time you should read to understand and not read to mannerlessly reply people you dont even know. Happy New Year!

happy new year brother, am indeed sorry if you find my choice of word offensive. Been abusive doesn’t resolve the problem back in Nigeria. I like your aggression and rapid response toward me. Nigeria will be an awesome country if people could react with your type of aggression to poor governance and hold there leaders accountable. #God bless this platform#

foolbuster:


So what happened to the highly publicised debt write off he won for the coutry.

Some of the questions some of you ask makes one wonder.

Should we spoonfeed you?

Can't you use the same internet to use in asking me this question to do a Google search?

Are you assuming that as soon as Obasanjo paid up debt, it was his last day of office?

Come on, conduct your own research and share knowledge.

erico2k2:

ahah this guy U r so daft, I should accept a debt, can u listen 2 urself, how does this debt affect me as a person
63 B dollars my backside U are still submerged in APC/PDP saga, aint U lot tired or sufferation not wild enough

You've been itching to tell us you are outside the country. Big deal!

obailala:

Oga that advice about receiving sense, you obviously need it more.

I made a very simple statement of FACT that should have been understood by any discerning human; someone politicised the debt crisis by saying APC is all about debts and I simply corrected the person by reminding him that the PDP incurred over 75% of Nigeria's current debt burden which we talk about (FACT).

I did not say the debt was nonexistent and neither did I say the debt is good. For you not to
have comprehended my simple point, and for you to respond with your pointless comment above, its more than obvious that you need to be injected with a medication called common sense.

Blockhead.. From OBJ-GEJ of 16yrs, external debt was $10bn while within GMB’ time from 2015-2019-4yrs, be borrowed $17bn. So on average, PDP accumulated $625m per yr, while GMB accumulated $4.25bn per year... and he wants to borrow another $30bn?? Folks like u are gonna pay for this.

BigIyanga:

Blockhead.. From OBJ-GEJ of 16yrs, external debt was $10bn while within GMB’ time from 2015-2019-4yrs, be borrowed $17bn. So on average, PDP accumulated $625m per yr, while GMB accumulated $4.25bn per year... and he wants to borrow another $30bn?? Folks like u are gonna pay for this.

So the argument is no longer the foolish statement of "PMB incured $83bn in 4 years"? The argument is now $10bn vs $17bn external debt? Why did you dubiously separate local from foreign debt to drive your point? Whilst fooling yourself with your ignorant pdp vs apc political arguments, why dont you tell us something about the TOTAL debt stock which happens to be $63bn vs $20bn?...

By the way, stop being clever by half by saying 16 vs 4 years; OBJ cleared almost all our debts in the first 8 years; so most of the borrowing which accrued up to that $63bn happened just between 2007 and 2015, incidentally at a time of the highest oil prices and revenue. GMb actually has a sound excuse for incurring ~$20bn debt in 4 years (oil prices were rock bottom and govt revenue was very low); the question any sensible homosapien should be asking is why $63bn debt was incurred when oil prices and revenue were sky high. I wouldnt expect a drooling dunce like you to think of that as a vital question.

Meanwhile there's been a clear economic move recently to convert a larger percentage of the country's debt to foreign loans which have far lower interest rates and longer maturity periods than the internal/local loans. So any attempt to sideline local debt and make any comparison based on foreign debt alone is just meaningless deliberate manipulation by politicians to deceive gullible blockheads like yourself into excitment.

Keeping making a fool of yourself because you desperately want to politicise nonsense.

obailala:
So the argument is no longer the foolish statement of "PMB incured $83bn in 4 years"? The argument is now $10bn vs $17bn external debt? Why did you dubiously separate local from foreign debt to drive your point? Whilst fooling yourself with your ignorant pdp vs apc political arguments, why dont you tell us something about the TOTAL debt stock which happens to be $63bn vs $20bn?...

By the way, stop being clever by half by saying 16 vs 4 years; OBJ cleared almost all our debts in the first 8 years; so most of the borrowing which accrued up to that $63bn happened just between 2007 and 2015, incidentally at a time of the highest oil prices and revenue. GMb actually has a sound excuse for incurring ~$20bn debt in 4 years (oil prices were rock bottom and govt revenue was very low); the question any sensible homosapien should be asking is why $63bn debt was incurred when oil prices and revenue were sky high. I wouldnt expect a drooling dunce like you to think of that as a vital question.

Meanwhile there's been a clear economic move recently to convert a larger percentage of the country's debt to foreign loans which have far lower interest rates and longer maturity periods than the internal/local loans. So any attempt to sideline local debt and make any comparison based on foreign debt alone is just meaningless deliberate manipulation by politicians to deceive gullible blockheads like yourself into excitment.

Keeping making a fool of yourself because you desperately want to politicise nonsense.

I was not born yesterday.. Militarys guys like GMB,IBB and Abach... GMB’s right hand man, ran up the debt.
1985, our external debt was $19bn and yes GMB was running our economic affair.
In 1999 OBJ came in and out debt was $36bn and he negotiated with with Paris Club and our debt was canceled by about 60%... So your assertion that all out external debt was cancelled is false.
Also, Nigeria has always run a deficit budget.. in 2015 under GEJ, but in 2016, GMB and his gang increased the deficit by 115% and also increased the national budget by 36% .. They also allocated the highest budget of about. N500bn to social welfare.. all controlled by his cronies

Racoon:
Blame game since 2015.So who have been involved in reckless borrowing and indiscriminate taxation to shore up revenues in order to fund the budget despite the claims of of phantoms revenue generation by govt agencies? Idiot!

You sure can speak/write English but you're semi-literate at best.

BigIyanga:

I was not born yesterday.. Militarys guys like GMB,IBB and Abach... GMB’s right hand man, ran up the debt.
1985, our external debt was $19bn and yes GMB was running our economic affair.
In 1999 OBJ came in and out debt was $36bn and he negotiated with with Paris Club and our debt was canceled by about 60%... So your assertion that all out external debt was cancelled is false.
Also, Nigeria has always run a deficit budget.. in 2015 under GEJ, but in 2016, GMB and his gang increased the deficit by 115% and also increased the national budget by 36% .. They also allocated the highest budget of about. N500bn to social welfare.. all controlled by his cronies

Make of this what you will:

Nigeria's Foreign Exchange Controls: ... The Wll Street Jormal, February 21, 1984, and The Ne York Times, January 30 and August 20, 1984, report estimates by Western sources placingNigeria's overall debt at the end of1983 between $22 and $25 billion, and the trade arrears at between $5 and $6 billion.

TheSourcerer:
Lies from Lia Mohammad
Nigerian minister of information, how ironic

Correction: Minister of DISinformation. Or Minister of Propaganda.

rusher14:


Some of the questions some of you ask makes one wonder.

Should we spoonfeed you?

Can't you use the same internet to use in asking me this question to do a Google search?

Are you assuming that as soon as Obasanjo paid up debt, it was his last day of office?

Come on, conduct your own research and share knowledge.

The way some of you think baffles me. Honestly. Cant you just answer a simple question sir?
I should go and start doing research on google when there are many people here that can easily give me the answers i am looking for.
Its funny you said I should do research and come back to share my knowledge because going by your logic this is not the place to share knowledge and everybody should go and do their own research.
Just look at all the words you typed and still made no sense. Is it wrong to ask a question on nairaland? Oga no one knows it all. So come off your high horse and share your knowledge, you are not spoonfeeding anyone by talking about what you know neither is anyone spoonfeeding you by sharing knowledge they regard as too easy with you.

Olodo come and blame me nah.

foolbuster:


The way some of you think baffles me. Honestly. Cant you just answer a simple question sir?
I should go and start doing research on google when there are many people here that can easily give me the answers i am looking for.
Its funny you said I should do research and come back to share my knowledge because going by your logic this is not the place to share knowledge and everybody should go and do their own research.
Just look at all the words you typed and still made no sense. Is it wrong to ask a question on nairaland? Oga no one knows it all. So come off your high horse and share your knowledge, you are not spoonfeeding anyone by talking about what you know neither is anyone spoonfeeding you by sharing knowledge they regard as too easy with you.

Don't you think you are the silly one?

You supposed Obasanjo left the country debt-free but I cleared that supposition by telling you how much he left as debt.

You never asked for my source but asked me what happened to the supposed write off.
And I let you have it.

Again I insist, nobody is here to spoonfeed you especially as you've made no attempt to conduct any research yourself.

This is not a beer parlour and incidentally, we are in the information age.

As I said earlier, share information.

Put in some effort.

Nobody knows it all.

If you want to make progress you need to put in the work.

rusher14:


Don't you think you are the silly one?

You supposed Obasanjo left the country debt-free but I cleared that supposition by telling you how much he left as debt.

You never asked for my source but asked me what happened to the supposed write off.
And I let you have it.

Again I insist, nobody is here to spoonfeed you especially as you've made no attempt to conduct any research yourself.

This is not a beer parlour and incidentally, we are in the information age.

As I said earlier, share information.

Put in some effort.

Nobody knows it all.

If you want to make progress you need to put in the work.

Just admit your error amd stop making excuses. Since you have refused to share what you know, you can as well take it to your grave. Happy new year.

foolbuster:


Just admit your error amd stop making excuses. Since you have refused to share what you know, you can as well take it to your grave. Happy new year.

Error?

Because I refuse to spoonfeed you?

Are you a baby?

The F out of here.

obailala:
Over 75% of Nigeria's current debt was actually borrowed by PDP even before PMB won that election in 2015. I'm sure you and many others arent aware of this FACT. If you were, you wouldnt have made the above statement placing the entire debt blame on the laps of APC. These figures are freely accessible to the reading public in the DMO website.

mtcheeeeew!!!

BigIyanga:

Blockhead.. From OBJ-GEJ of 16yrs, external debt was $10bn while within GMB’ time from 2015-2019-4yrs, be borrowed $17bn. So on average, PDP accumulated $625m per yr, while GMB accumulated $4.25bn per year... and he wants to borrow another $30bn?? Folks like u are gonna pay for this.

don't mind those apc sycophants,even one had the nerve to make some flimsy excuse,thank God I don't have stupid friends that support blindly.

will this country keep on wallowing in self destruction like this, how can such a huge debt ever b paid

BigIyanga:

I was not born yesterday.. Militarys guys like GMB,IBB and Abach... GMB’s right hand man, ran up the debt.
1985, our external debt was $19bn and yes GMB was running our economic affair.
In 1999 OBJ came in and out debt was $36bn and he negotiated with with Paris Club and our debt was canceled by about 60%... So your assertion that all out external debt was cancelled is false.
Also, Nigeria has always run a deficit budget.. in 2015 under GEJ, but in 2016, GMB and his gang increased the deficit by 115% and also increased the national budget by 36% .. They also allocated the highest budget of about. N500bn to social welfare.. all controlled by his cronies

I never said OBJ cleared off our entire debt, I said he cleared 'most'.

Someone mentioned that the destiny of APC was to kill Nigeria with debts; the person proceeded to say that we currently had a total debt of over $83bn. All I did was to correct that misconception by reminding them that over 75% of our current debt figure was incurred before APC came to power (mostly of which was even incurred when Nigeria had very high income).

Why exactly is this truth so annoying to you and some folks here? Obviously you couldnt challenge it so you deviated to irrelevant topics like IBB and Abacha, 1985, social investment program and budget deficit; you even had to add that GMB is a friend of Abacha... seriously?!!! what has that got to do with anything? What do you call this bizarre pattern of argument? Must you argue over irrelevant things?

Bizibi:
mtcheeeeew!!!

I said the bitter truth! The bitter truth which crushes your argument instantly.

You obviously cannot fight the truth, so the best you could do was sigh and walk away. At least you're far more honourable than some others who still jumped on my mentions to insult me, totally deviated from the topic and started yapping rubbish because they felt it was mandatory to make political arguments.

obailala:

I never said OBJ cleared off our entire debt, I said he cleared 'most'.

Someone mentioned that the destiny of APC was to kill Nigeria with debts; the person proceeded to say that we currently had a total debt of over $83bn. All I did was to correct that misconception by reminding them that over 75% of our current debt figure was incurred before APC came to power (mostly of which was even incurred when Nigeria had very high income).

Why exactly is this truth so annoying to you and some folks here? Obviously you couldnt challenge it so you deviated to irrelevant topics like IBB and Abacha, 1985, social investment program and budget deficit; you even had to add that GMB is a friend of Abacha... seriously?!!! what has that got to do with anything? What do you call this bizarre pattern of argument? Must you argue over irrelevant things?

GMB left a deficit of $19bn in 1985 and then came back 30yrs later and met $10bn in external debt after OBJ had cleaned up his mess. Previous PDP govt borrowed average of $625m/yr to finance budget deficit while GMB within 4 yrs in power, borrowed $4.5bn/yr to finance his budget. that’s a whopping 720% increase per annum.
Then he wants to borrow another $30bn, plus $17bn added to the external debt, before he leaves office, he would have accrued $70bn in external debt alone.
Talking about domestic debt, is not going up under him admin?
Let me also educate you on his Abacha connection and Naija debt, GMB has been in the corridor or power; dining and winning with our past and present leaders. Abacha made him PTF Chairman.. whose office, work and projects were funded by proceeds from refined petroleum products-SUBSIDY-He was the architect of subsidy as of today, takes 50% of our earned forex$$. He’s the wrong guy to be talking about debt... cos he believes in fiscal expansion of govt to benefit his cronies

BigIyanga:


GMB left a deficit of $19bn in 1985 and then came back 30yrs later and met $10bn in external debt after OBJ had cleaned up his mess. Previous PDP govt borrowed average of $625m/yr to finance budget deficit while GMB within 4 yrs in power, borrowed $4.5bn/yr to finance his budget. that’s a whopping 720% increase per annum.
Then he wants to borrow another $30bn, plus $17bn added to the external debt, before he leaves office, he would have accrued $70bn in external debt alone.
Talking about domestic debt, is not going up under him admin?
Let me also educate you on his Abacha connection and Naija debt, GMB has been in the corridor or power; dining and winning with our past and present leaders. Abacha made him PTF Chairman.. whose office, work and projects were funded by proceeds from refined petroleum products-SUBSIDY-He was the architect of subsidy as of today, takes 50% of our earned forex$$. He’s the wrong guy to be talking about debt... cos he believes in fiscal expansion of govt to benefit his cronies

Here we go again, ranting about IBB and 1985, and also dwelling on a part of the debt. Why dont you talk of the TOTAL debt of $63bn?... Why are you scared of discussing the full debt? You think you're talking to all those ignorant facebook commenters who you deceive with partial debt figures? Or with your repeated reference to GMB and 1985, are you by any chance asserting that GMB who was kicked out of power 35 years ago is responsible for Nigeria's $63bn debt as at 2015? You must really be obsessed with GMB, cos I've never seen this bizarrely ridiculous pattern of blame game before, wow!!

Anyway, please if you aren't ready to holistically discuss the total debt figure, stop quoting me.

He should be blamed also. A bad worker quarrels with his tools.

rusher14:


You've been itching to tell us you are outside the country. Big deal!

And how is that an issue in our conversation U sound so unintelligent !

obailala:
Here we go again, ranting about IBB and 1985, and also dwelling on a part of the debt. Why dont you talk of the TOTAL debt of $63bn?... Why are you scared of discussing the full debt? You think you're talking to all those ignorant facebook commenters who you deceive with partial debt figures? Or with your repeated reference to GMB and 1985, are you by any chance asserting that GMB who was kicked out of power 35 years ago is responsible for Nigeria's $63bn debt as at 2015? You must really be obsessed with GMB, cos I've never seen this bizarrely ridiculous pattern of blame game before, wow!!

Anyway, please if you aren't ready to holistically discuss the total debt figure, stop quoting me.

Cos you have no factual rebuttal against facts. You were concerned about FG’s external debt.. fine no problem, let’s stick to it. As we are talking, your God, GMB wants to borrow another $30bn . Folks like you are going to pay for this.
Why dont you tell us Naija total debt stock when GMB left office in 1985?