The Problem is that the federal government doesn't channel these loans well into the right sources..that's what pains me most...So before the 2020 runs out They will use like 2.5 Trillion to service debts.

JunctionBox:
No be them borrow the money and still borrowing? Meanwhile, large chunk of the borrowed sum was diverted into private pockets.

That's the most annoying part, the fact that they diverted the borrowed funds to their personal use while the country wallows in poverty

tsephanyah:
Like seriously.. What type of economic system does Nigeria have, socialist or capitalist?

Capitalism by corruption

tsephanyah:
Like seriously.. What type of economic system does Nigeria have, socialist or capitalist?

even this debt service charge is false, some have been diverted

tsephanyah:
Like seriously.. What type of economic system does Nigeria have, socialist or capitalist?

Buhari is a socialist.

AlhajiImam:
Nigeria on auto ebay market.

I weep that a blessed nation like ours have been sold into economic servitude. Imagine what 1.2trn could do. The worst is that, we are not even paying the debts we owe, we are just paying the interests on the debt.

I weep because my children have no future again. Their future have been mortgaged. I can't keep quiet and fold my hands.

Arise fellow Nigerian youths. We are slaves in our fatherland.

Nigeria is the poverty capital of the world.....
Infrastructures? Zero. Health care? Non existent. Power? Not at all. Education and security? Nightmare... Yet a united greedy few continue to plunder our Commonwealth while dividing us youths along ethnic and religious lines. We are wiser now... We must save our society from collapse!



Join the movement through the link above or search ' Our Future is Now' on telegram

Join us as we Salvage Nigeria
Our Future is Now
# A New Nigeria

So long as Hausa people continue to dominate every aspect of Nigerian government, we may not have the Nigeria we all desire. This is because they steal from national treasury without conscience. All to marry more wives, buy latest cars, buy / build mansions in months.

slimfit1:
30% of the money went on NASS to buy cars and huge salaries.

Hmmmm!

My joy and happiness is that we all will suffer this hardship together, a man that couldn't show us anything for four years, were u expecting him to show u his kidney? If I say one tribe follow put us for this wahala na, one useless mode go dey masturbate on me

Nonsense big for corruption terrorist lugard creation.

This useless British company and corruption is no longer new story.


Nigeria presidents must be arrested to give accounts of their presidency.



What's nigga-aria did with the money? See amounts of money Nigeria is spending to fight unarmed innocent people of Biafrans IPOB

May GOD almighty NEVER forgive those who conspired to force this calamity on nigeria, say a loud amen.

Esseite:


Retained revenue - N1.48tr

Debt service - N1.25tr
Personnel cost - N1.32tr
Total = N2.57tr (loss of N1.09tr)

Capital expenditure which is suppose to finance debt service - N253.33bn

Summary: we are borrowing to consume and service debts, while accruing more loss costing more than capital expenditure which is suppose to fund debt servicing.

. The basic problem of Nigeria is lack of education or would I say undereducation.

You can't win politics in Nigeria if you are smart, you have to be cunny and spew nonsensical and bogus unrealistic promises without a road map.

Anybody that comes with detailed plan is seen as not smart and unfit to rule.

tsephanyah:
Like seriously.. What type of economic system does Nigeria have, socialist or capitalist?

Lootist

realstars:
Are They Paying The Dept Or Servicing The Dept.

These is what must Nigerians dont know servicing debt doesn't mean paying back the dept it simply means giving some money to the browsers to buy some more time for the actual dept to be paid plus interest accumulated. That is one of the greatest scam the western world use in milking Africa and making sure that we dont grow. That is why there are quick to leaned money to a failed states in Africa knowing that it will be almost impossible to back. The Chinese saw these scam and they are investing too.

Emmastan291:
The Problem is that the federal government doesn't channel these loans well into the right sources..that's what pains me most...So before the 2020 runs out They will use like 2.5 Trillion to service debts.

nigeria is like a man who intends to buy a house for commercial purposes and takes a loan..instead of using the cash borrowed to actually buy that house to generate revenue to pay back the loan the man squanders the cash and embarks on taking more loans to pay back the initial loan...

Thats nigeria..our foolish government takes loans and generates little or no profit from the loan taken, but rather take more loans to pay up previous loans..

Nigeria is doomed..

tsephanyah:
Like seriously.. What type of economic system does Nigeria have, socialist or capitalist?

Good question!!!.. Answer is quite simple: Absolutely None!!!

Ezennwa:
hmm!

Better to go to bed hungry than to wake up with debt.

What if,he did'nt wake up,every country owes,even America do.countries borrow to fund critical projects,but Nigeria borrows to fund critical elephant projects and to service debt.Imagine,33 trillion is still outstanding.and still planning to borrow more.

Nepotism, religious and ethnic sentiment is the major problem we have.
This is a country of over 180m people with over 250 languages but rule by only one or Twp ethnic groups. Imagine this scenario.
1. Minister of finance - north
2. Accountant general - north
3. Customs - north
4. Firs - north
5. Debt management - north
6. Efcc - north
7. Senate president - north
8. Army chiefs including nscdc, prisons, nis- north (except naval chief).
9. Sss - north
10. Nia - north
11. Minister of defence - north
You can add on the list.

This is what I think is the problem. These people hold same mentality. They see and do things same way. No dynamism.
The fate of majority of Nigerians lies and depends on this one or two ethnic groups. So what change should we expect from such a government?

You see.....I just mentioned in the other thread that the country keep sinking in debt..... some people are busy pocketing the money, they don't care if the country sell off itself just to keep afloat....as long as they grab all "grabables" while in office.
This country is in for a very long ride.... and in a deep sh!t

Compare that with how much we made during that period and you will realize that we are a country in debt.

These crop of leaders are borrowing away the future of our kids

sigiyaya:
These is what must Nigerians dont know servicing debt doesn't mean paying back the dept it simply means giving some money to the browsers to buy some more time for the actual dept to be paid plus interest accumulated. That is one of the greatest scam the western world use in milking Africa and making sure that we dont grow. That is why there are quick to leaned money to a failed states in Africa knowing that it will be almost impossible to back. The Chinese saw these scam and they are investing too.

That Was My Thought, Because It Is Not Easy To Pay But Easy To Collect And The Deptor Has No Choice Than To Be Indepted With Dialuge.

DAVE5:


That's the most annoying part, the fact that they diverted the borrowed funds to their personal use while the country wallows in poverty

The Wost Of It Is That Some Of Them Will Die Untimely And The Dept Will Poss For The Living,

brownemmanuel43:
My joy and happiness is that we all will suffer this hardship together, a man that couldn't show us anything for four years, were u expecting him to show u his kidney? If I say one tribe follow put us for this wahala na, one useless mode go dey masturbate on me

Which tribe?who approved the loan,was it not your representatives in the houses that gave the executive the green light to take this loan after slutting in their percentage,are all the states and geo political zones not represented in these houses,why don't you ask your rep.why and how they used the money instead of pointing a finger somewhere,while the rest are pointing back at you.

I'm already confused seeing those massive figures ... They're strange to me

Govnt shud just borrow again share the money and divide this country so everyone for him self, nothing is working in unity let's try in disarray.

Igbochief001:

Can't u read ? ...why are u people this dumb

Tell us why you are so smart?

Some morons on the forum still think F. G does not borrow to pay salaries and abuse iweala for saying sh does

The only difference between iweala and this government is that sh is open and transparent and accountable whilst this administration tries on lies

I repeat the problem with naija are the youths who refused to go on nationwide protest....

This morning the whole of Mali youths were up in protest against the government and blocked the national broadcaster.... For bad leadership

slimfit1:


Tell us why you are so smart?

Even if I do ...u are two dumb to understand

realstars:
That Was My Thought, Because It Is Not Easy To Pay But Easy To Collect And The Deptor Has No Choice Than To Be Indepted With Dialuge.

It is called Neocolonialism and that is why the Western world and even the Asians have no respect nor value for Africans. They see us as animals not because of the colour of our skin but because our inability to reason with common sense

luvinhubby:


This is what happens when clowns run an economy

Some clowns on this forum don't see what your showing, they are too blind by their affinity for a political party than Nigeria

The Money recovered from Magu can also service debt na, make them allow us hear word.