ospido:



PDP 16 years it was #12.06tr.

APC "5 years" it is #16.57tr.

Total is #28.63tr

And we still have 3 more years to go.

How much was a dollar then and how much is it now w.r.t the crude oil sales?

https://www.vanguardngr.com/2015/07/n12trn-debt-profile-worsens-nigerias-woes/amp/

Naira value has dropped as a result of many factors (oil price for one). The fact remains that most Nigeria earnings and debt is in USD . So it makes sense to evaluate the debt in USD. If Nigeria has $79 billion USD dollars now it will clear our debt and if Nigeria has USD $ 63 billion as at 2015, it will clear our debt then. Most of our debtors don't care what the exchange rate is. They want dollar for dollar and not the local currency that is subject to fluctuation. The USD is the standard numerator and currency. Other currency value are measured against it.

Oga, do something fast!

DonFreshmoney:
No wonder the herdman in aso rock during his virtual chat with EU leadsers asked for debt relief.. he thinks they are fools, you borrow money stupidly which ends up looted by your cabals and you have the balls to ask for forgiveness of debt

Funny enough the herdman there has achieved what your entire generation will never achieve....

sevo:
Ajala the borrower...at least, the man is competent in one area....borrowing to stupor!!..jonathan right now after seeing all his efforts to reduce our debt profile going up in flames... And ajala after seeing his current debt profile..

I wonder how hatred and stupidity makes your brain to function uselessly... How was GEJ in any way made effort to reduce our debt profile...
Crude oil was selling during his time over $100 per barrel...before he left office Nigeria was borrowing to pay salaries...
But you are here spitting nonsense

deji17:


Naira value has dropped as a result of many factors (oil price for one). The fact remains that most Nigeria earnings and debt is in USD . So it makes sense to evaluate the debt in USD. If Nigeria has $79 billion USD dollars now it will clear our debt and if Nigeria has USD $ 63 billion as it 2015, it will clear our debt then. Most of our debtors don't care what the exchange rate is. They want dollar for dollar and not the local currency that is subject to fluctuation. The USD is the standard numerator and currency. Other currency value are measured against it.

Illiterate please do yourself a favour and shut up, thank you.

Iceberg3:


Illiterate please do yourself a favour and shut up, thank you.

Calling yourself an illiterate does not mean your low life will improve.

Thetruthalways:

I wonder how hatred and stupidity makes your brain to function uselessly... How was GEJ in any way made effort to reduce our debt profile...
Crude oil was selling during his time over $100 per barrel...before he left office Nigeria was borrowing to pay salaries...
But you are here spitting nonsense

I am not going to dignify this hogwash you just spewed with a response.. If the level of frustration and bigotry in your soul cannot allow you to even "communicate" without being vulgar, then please.. "Fu.ccck off"!!

ursullalinda:
Buhari is doing everything possible to carry Nigeria along with him when he goes to meet his ancestors........The man don finish us.

obj no finish us na buhari finish us?

goldenboyofpsy:
We need to do something urgent about this issue of rising debt cos Las Las,Na we all go suffer am

america with the highest debt are the suffering?

every person is blaming buhari, what of those senseless southwesterners dt voted for him. who will blame them

I said nah plane, train &ship them go take pack Nigeria people one day for this debt matter

Racoon:


https://punchng.com/nigerias-debt-profile-hits-n28-63tn/?amp=1

APC Government should keep borrowing ooo. APC and borrowing are like 5&6.

Wizvicky:
. I'm in

Add if you're ready

Wizvicky:
. I'm in

0..7..018667371. You can add me

My WhatsApp number

So we start

Thetruthalways:

I wonder how hatred and stupidity makes your brain to function uselessly... How was GEJ in any way made effort to reduce our debt profile...
Crude oil was selling during his time over $100 per barrel...before he left office Nigeria was borrowing to pay salaries...
But you are here spitting nonsense

While not holding forth for the previous administration, you need to factor in certain issues so you can have a better understanding of the issues involved.

1. Oil price during the previous administration hovered between $85-$110, but fuel was sold at an average of #90.

Now if you look at the price of fuel now #140+ & the price of crude oil $40+, you would realise that the previous administration was making a hell of a loss to keep fuel prices at under #100.

2. Closely related to no. 1 is the issue of exchange rate. Exchange rate during the previous administration averaged at about #170=$1.

Today that rate averages about #380-$1.

https://www.poundsterlinglive.com/best-exchange-rates/us-dollar-to-nigerian-naira-exchange-rate-on-2014-03-14.

Again, do you have any idea what it took to keep the exchange rate at that level for the previous administration?


3. Contrary to what some manipulators would have people believe, as at 2012, the US, which was Nigeria's major importer of crude oil at the time suddenly dropped imports by 60% in 2012 when oil prices where high & by 2014, they had practically stopped importing Nigerian crude.

https://allafrica.com/stories/201412220407.html

https://www.google.com/url?q=https://www.transportday.com.ng/united-states-slashes-imports-nigerian-oil/&sa=U&ved=2ahUKEwiGuYaE5LbqAhVcBGMBHbBRD9MQFjALegQIBBAB&usg=AOvVaw32AQ5GFjwEmD__V13hfsRF

https://www.google.com/url?q=https://www.eia.gov/todayinenergy/detail.php%3Fid%3D5770&sa=U&ved=2ahUKEwiGuYaE5LbqAhVcBGMBHbBRD9MQFjANegQIAxAB&usg=AOvVaw1ww4Lii8Zrq1Q7lrc8lpQC

It was only in mid-2015 that things picked up a bit & new markets were gotten.

So the misonomer that the previous administration was rolling in petrol dollars was just election propaganda.

4. That this administration has not come outright (in recent times) to say it's not borrowing to pay salaries is just hiding the truth.

https://www.google.com/url?q=https://www.legit.ng/1102361-federal-government-borrowing-invest-infrastructure-pay-salaries-kemi-adeosun.html&sa=U&ved=2ahUKEwiaoJ3f4rbqAhUK4BoKHduqDYsQFjADegQIBxAB&usg=AOvVaw1j8WxE0YrUcvJxfFL6vDTO

It's a question of how you choose to arrange available funds. The previous administration was honest about its need to cover salaries in the short term while the present chooses to wallow in self deceit.

https://www.premiumtimesng.com/business/182543-nigerian-govt-borrowing-billions-to-pay-salaries-okonjo-iweala.html


Bottom line is that both administrations have not been good enough.

Good evening sir, I hope you had a wonderful day.
I've replied to the email with all supporting documents on Friday.

aribs:


DM privately and someone will be in touch

ivandragon:


While not holding forth for the previous administration, you need to factor in certain issues so you can have a better understanding of the issues involved.

1. Oil price during the previous administration hovered between $85-$110, but fuel was sold at an average of #90.

Now if you look at the price of fuel now #140+ & the price of crude oil $40+, you would realise that the previous administration was making a hell of a loss to keep fuel prices at under #100.

2. Closely related to no. 1 is the issue of exchange rate. Exchange rate during the previous administration averaged at about #170=$1.

Today that rate averages about #380-$1.

https://www.poundsterlinglive.com/best-exchange-rates/us-dollar-to-nigerian-naira-exchange-rate-on-2014-03-14.

Again, do you have any idea what it took to keep the exchange rate at that level for the previous administration?


3. Contrary to what some manipulators would have people believe, as at 2012, the US, which was Nigeria's major importer of crude oil at the time suddenly dropped imports by 60% in 2012 when oil prices where high & by 2014, they had practically stopped importing Nigerian crude.

https://allafrica.com/stories/201412220407.html

https://www.google.com/url?q=https://www.transportday.com.ng/united-states-slashes-imports-nigerian-oil/&sa=U&ved=2ahUKEwiGuYaE5LbqAhVcBGMBHbBRD9MQFjALegQIBBAB&usg=AOvVaw32AQ5GFjwEmD__V13hfsRF

https://www.google.com/url?q=https://www.eia.gov/todayinenergy/detail.php%3Fid%3D5770&sa=U&ved=2ahUKEwiGuYaE5LbqAhVcBGMBHbBRD9MQFjANegQIAxAB&usg=AOvVaw1ww4Lii8Zrq1Q7lrc8lpQC

It was only in mid-2015 that things picked up a bit & new markets were gotten.

So the misonomer that the previous administration was rolling in petrol dollars was just election propaganda.

4. That this administration has not come outright (in recent times) to say it's not borrowing to pay salaries is just hiding the truth.

https://www.google.com/url?q=https://www.legit.ng/1102361-federal-government-borrowing-invest-infrastructure-pay-salaries-kemi-adeosun.html&sa=U&ved=2ahUKEwiaoJ3f4rbqAhUK4BoKHduqDYsQFjADegQIBxAB&usg=AOvVaw1j8WxE0YrUcvJxfFL6vDTO

It's a question of how you choose to arrange available funds. The previous administration was honest about its need to cover salaries in the short term while the present chooses to wallow in self deceit.

https://www.premiumtimesng.com/business/182543-nigerian-govt-borrowing-billions-to-pay-salaries-okonjo-iweala.html


Bottom line is that both administrations have not been good enough.

The moment you said last administration rolling in petrol dollars was mere propaganda says it all...all the english there doesn't mean you knew what you were saying...

sevo:


I am not going to dignify this hogwash you just spewed with a response.. If the level of frustration and bigotry in your soul cannot allow you to even "communicate" without being vulgar, then please.. "Fu.ccck off"!!

Your bigotry is top notch...
I said it stupidity and bigotry is making you say nonsense... Rather than give positive response to what i said...you then claimed am frustrated and a bigot...you must be stupid...
Gtfo fool

ScholarRidwan:
Good evening sir, I hope you had a wonderful day.
I've replied to the email with all supporting documents on Friday.

Yup seen it . I have a few questions . Someone will be in touch

Okay sir. Please feel free to ask me any question sir.

aribs:


Yup seen it . I have a few questions . Someone will be in touch

Thetruthalways:

The moment you said last administration rolling in petrol dollars was mere propaganda says it all...all the english there doesn't mean you knew what you were saying...

Lol.

I understand. It's hard to dispute facts.

Take care.

Good evening sir,
How has been your weekend sir?
Please kindly check your email sir, I've replied you two days ago.

aribs:


Yup seen it . I have a few questions . Someone will be in touch

ScholarRidwan:
Good evening sir,
How has been your weekend sir?
Please kindly check your email sir, I've replied you two days ago.

apologies . been busy. will reply you

It's okay! Thank you sir

aribs:


apologies . been busy. will reply you

Yet we are never tied of borrowing.
Yet we are never tied of criminality in high places that unleash insecurity on the nation.
Yet we are never tied of the politicians whose roguery surpasses the devil's.
Yet we are never tied of praise-singing the fiends responsible for our shameful undoing.
Yet we are never tied of senseless selfishness of divide and rule/conquer.
Yet we are never tied of senseless killing in the name of God to establish an ethnically centred caliphate.
Yet we are never tied of misrepresenting ourselves in the face of the whole world with financial crimes.