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Nigeria’s Debt Hits N31trn – DMO - Politics - Nairaland

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Atiku Shocked By Nigeria’s Debt Profile, Says Nation In Financial Crisis / Nigeria’s Debt Hits N25.7trn, Rises By N3.3trn In One Year / DMO Releases List Of Indebted States And How Much They Owe (2) (3) (4)

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Nigeria’s Debt Hits N31trn – DMO by Kwanza: 6:59pm On Sep 09
Nigeria’s debt rises by N2.3trn, hits N31trn – DMO

The Debt Management Office on Wednesday released Nigeria’s total public debt stock as of June 30, 2020, and put the country’s entire debt at N31trn, indicating an increase of N2.38trn within a space of three months.

Nigeria’s total public debt stock includes the debt stock of the Federal Government, the 36 states, and the Federal Capital Territory.

Just as the country’s public debt stock, the DMO also released reports on Nigeria’s Actual External Debt Service Payments in Second Quarter, 2020, as well as Nigeria’s External Debt Stock as of June 30, 2020.

For the country’s public debt stock as of June 30, 2020, the DMO said, “The data shows that in naira terms, the total public debt stock which comprises the debt stock of the Federal Government, the 36 state governments and the FCT stood at N31.009trn or $85.897bn.

“The corresponding figures for March 31, 2020, were N28.628trn or $79.303bn.”

The debt office explained that the increase in the debt stock by N2.381trn or $6.593bn was accounted for by the $3.36bn budget support loan from the International Monetary Fund, new domestic borrowing to finance the revised 2020 Appropriation Act.

It said this includes the issuance of the N162.557bn Sukuk, and promissory notes issued to settle claims of exporters.

The debt office added, “The DMO expects the public debt stock to grow as the balance of the new domestic borrowing is raised and expected disbursements are made by the World Bank, African Development Bank and the Islamic Development Bank which were arranged to finance the 2020 Budget.

https://www.google.com/amp/s/punchng.com/breaking-nigerias-debt-rises-by-n2-3trn-hits-n31tn-dmo/%3famp=1

2 Likes

Re: Nigeria’s Debt Hits N31trn – DMO by decatalyst(m): 7:01pm On Sep 09
I beg, can I sell my citizenship?


I dey fear say the countries we dey owe go soon purchase us in full and get their receipt.

113 Likes 2 Shares

Re: Nigeria’s Debt Hits N31trn – DMO by Kwanza: 7:02pm On Sep 09
This isn't a good news ,@ allll

9 Likes

Re: Nigeria’s Debt Hits N31trn – DMO by JAMO4REAL1(m): 7:04pm On Sep 09
vision 2050

48 Likes 4 Shares

Re: Nigeria’s Debt Hits N31trn – DMO by Nbotee(m): 7:05pm On Sep 09
China go soon com colonize us again... Som Tin Wong with dis govt

119 Likes 5 Shares

Re: Nigeria’s Debt Hits N31trn – DMO by raker300: 7:08pm On Sep 09
Sell off the states that are the highest beneficiaries of these loans.

Lol..

SE would be the only region left in Nigeria

155 Likes 15 Shares

Re: Nigeria’s Debt Hits N31trn – DMO by Nobody: 7:08pm On Sep 09
We are so behind in this 21st century

10 Likes

Re: Nigeria’s Debt Hits N31trn – DMO by Finnese001: 7:09pm On Sep 09
cheesy
Re: Nigeria’s Debt Hits N31trn – DMO by fajob: 7:09pm On Sep 09
We voted for next level now

26 Likes

Re: Nigeria’s Debt Hits N31trn – DMO by azmanaty02: 7:09pm On Sep 09
Bubu is a curse

The fool added almost 2.4trillion in just 3months to d debt profile.. shocked

He will not escape that 600years suffering, if he does, his children and those who voted him won't

165 Likes 8 Shares

Re: Nigeria’s Debt Hits N31trn – DMO by Racoon(m): 7:09pm On Sep 09
"Nigeria must continue to borrow"- Usman Finance minister.
https://www.google.com/amp/s/punchng.com/why-nigeria-cant-stop-borrowing-ahmed-finance-minister/%3famp=1

When it's said that this government is a disaster, zombies call people wailers.Enjoy! Generations will be locked paying this debts.

69 Likes 6 Shares

Re: Nigeria’s Debt Hits N31trn – DMO by Acidosis(m): 7:10pm On Sep 09
Good luck to them with their repayment plan.

4 Likes

Re: Nigeria’s Debt Hits N31trn – DMO by TOPCRUISE(m): 7:10pm On Sep 09
As our politicians keep stealing, our debts keep rising. The people responsible for our rising debts are the politicians and Governors e.g: Oshiomole vs Obaseki, who will woo the opposition with billions of naira to join their party so as to execute a selfish aim and actualize or frustrate impeachment attempts.
Despite all the hike in fuel prices, electricity bills and service charges, debts keeps increasing. They should collect the money from those stealing it and leave us alone.

20 Likes

Re: Nigeria’s Debt Hits N31trn – DMO by Goahead(m): 7:10pm On Sep 09
Divide that by 200 million people: Not alot.


We only have to pay 155, 000 each!

10 Likes 1 Share

Re: Nigeria’s Debt Hits N31trn – DMO by Heyzee5: 7:10pm On Sep 09
Why all this sad sad news today nah.....wetin happen undecided undecided

3 Likes 1 Share

Re: Nigeria’s Debt Hits N31trn – DMO by Golan007: 7:10pm On Sep 09
azmanaty02:
Buhari is a curse

What of your state governor?

5 Likes 1 Share

Re: Nigeria’s Debt Hits N31trn – DMO by kalvoken(m): 7:10pm On Sep 09
grin grin grin grin


A. P. C!!!


Why is everyone keeping quiet now. Next level has not even began fully.

By the time the dead ma walking is done with us all eh, you all that voted him would have quenched(in fela's voice)

Mr integrity has finished all the yam in the barn, he's now borrowed yam excess yam even when his land is no more farm worthy.


Dj play me starting something by Michael Jackson and akon, because those that want change are gonna start seeing something.

Also, give me sleeping dog by lucky dube, I need to forget about naija matters.

30 Likes 1 Share

Re: Nigeria’s Debt Hits N31trn – DMO by Promoter2: 7:10pm On Sep 09
Too bad
Re: Nigeria’s Debt Hits N31trn – DMO by shegzhkn: 7:10pm On Sep 09
Our Darling daddy has done it again & will continue to do more in the coming months ahead.

We the sane Nigerians adore you for this landmark achievement, Thank you.

signed: Mannabbqgrills

Chairman, Presidential task force on Misinformation, hoax and propaganda, Nairaland Annex.

grin

70 Likes 5 Shares

Re: Nigeria’s Debt Hits N31trn – DMO by dokie: 7:10pm On Sep 09
That is a whooping us$81b at an exchange rate of N380. We are gradually getting there.

The moment our income can no longer service our debts, the foreclosure starts and the country eventually winds up, just like a typical business.

When the country is fully grounded, we will now forcefully discuss our structural problem. Only then will we have a new emergence.

Quite unfortunately, many will not make it through. But those who eventually do will build the new nations that will emerge from Nigeria.

jansonn:
What's really wrong with Nigeria?? God help us please!!

Very simply: The money we generate as a nation can no longer meet our needs, so we have to borrow.


azmanaty02:
Bubu is a curse

The fool added almost 2.4trillion in just 3months to d debt profile.. shocked

He will not escape that 600years suffering, if he does, his children and those who voted him won't

Nobody borrows money for the fun of it.

Money no dey again. Our cash cow (oil) can no longer generate enough money to meet our genuine needs and our corruption. And the corruption is only going to get worse. When plenty people dey chop from one plate, na when food wan finish na im dem dey rush am pass.

Nigeria is about to be shreded to pieces by those in the corridors of power.

Save your curses bro. So far Nigerians are the ones dying, while Buhari and his family members are busy having a ball.

36 Likes

Re: Nigeria’s Debt Hits N31trn – DMO by Clinghton: 7:10pm On Sep 09
I think paying our debts should be one of the mandates in voting our next president.

10 Likes

Re: Nigeria’s Debt Hits N31trn – DMO by jansonn(m): 7:10pm On Sep 09
What's really wrong with Nigeria?? God help us please!!

2 Likes

Re: Nigeria’s Debt Hits N31trn – DMO by Slawormir: 7:10pm On Sep 09
Damnnnnn niggarrr
Too bad

5 Likes 1 Share

Re: Nigeria’s Debt Hits N31trn – DMO by Yankee101: 7:10pm On Sep 09
Buhari!

Buhari!!

Buhari!!! How many times I call you?

18 Likes 3 Shares

Re: Nigeria’s Debt Hits N31trn – DMO by AFvckingAlpha(m): 7:11pm On Sep 09
The fvck
Niggarr!!

What a mess!

Plunging the future of Nigeria into more debts, this is crazy!

I do not only have a problem with borrowing to fund capital projects, are these funds being used judiciously by the ministries?

Even if Buhari is claiming "holier than thou", I hope the ministries and other agencies are not siphoning funds like NDDC did.

Why should we keep quiet over a mans' incompetence because we wanted another lukewarm president out, when both are birds of a feather.

We must start choosing shrewd Nigerians, I mean technocrats that can save us from this mess we have plunged into.

Say no to imposing of a thief under the guise of zoning, a move that is destined to drag us into dirtier mud.

I don't know much but one thing I do know is that Buhari has been a monumental failure.

See my signature if your into sports betting jare. Let us win together with Lionsbet. Sign up now and send me a pm.

6 Likes

Re: Nigeria’s Debt Hits N31trn – DMO by Auxtin85(m): 7:11pm On Sep 09
By 2023 it will be N83 Trillion. Buhari the record breaker, anything he touches is gone forever.

Where is the vulture bbq maker come and asslick your darling daddy. Zombie

21 Likes 2 Shares

Re: Nigeria’s Debt Hits N31trn – DMO by azmanaty02: 7:11pm On Sep 09
Golan007:


What of your state governor?

Shut up there. Zombie grin

23 Likes 1 Share

Re: Nigeria’s Debt Hits N31trn – DMO by NaijaMutant(f): 7:11pm On Sep 09
Sai Baba grin


We are getting there. cheesy



Buhari is a curse to Nigeria

14 Likes

Re: Nigeria’s Debt Hits N31trn – DMO by Tetrahedron: 7:11pm On Sep 09
Govt of buharinomics... grin grin grin
He did it in 1983 and again 2020

25 Likes

Re: Nigeria’s Debt Hits N31trn – DMO by NaijaMutant(f): 7:11pm On Sep 09
Curse be upon any one who voted for Buhari

28 Likes

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