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Nigeria’s Debts: How Each Nigerian Owes ₦155,000 - Politics - Nairaland

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Each Nigerian Owes N396,376 As Public Debt Rises To N87.4 Trillion / Buhari Begs IMF, World Bank To Cancel Nigeria’s Debts / Every Nigerian Owes China N15,000 - Political Analysts (2) (3) (4)

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Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by Kendumazy(m): 10:44pm On Sep 22, 2020
The Debt Management Office, DMO, has announced that the total debt stock of Nigeria rose to N31 trillion as of June 2020.

It also said the debts are expected to rise this year following more debts to be sourced from international financiers.

As of March 2020, the debt was at N28.6trn comprising all debts of the Federal Government, the 36 state governments and the Federal Capital Territory (FCT).


The latest debt total of N31.009trn debt is about $85.897 billion while that of March which was N28.628trn was about N79.303bn.

Cause of increase

The debt stock grew by N2.38trn or $6.59bn within the three months interval.


The additional increase was due to the $3.36bn Budget Support Loan from the International Monetary Fund IMF), new Domestic Borrowing to finance the Revised 2020 Appropriation Act, the issuance of the N162.557bn Sukuk, and Promissory Notes issued to settle Claims of Exporters.

The components of the debts are:

The multilateral debts are the highest of the stock of N16.360trn accounting for 51.97% of the total stock. The 10 agencies include IMF, World Bank Group, the African Development Bank (AfDB) Group, Eurobonds and Diaspora bonds.

The bilateral debts account for N3.948trn representing 12.54% of the debt stock taken from the international development agencies of China, France, Japan, India and Germany.

The third debt category is the commercial debt which is N11.168trn and represents 35.48% of the debt. This is the second largest debt after those of the multilateral agencies with Eurobonds and Diaspora bonds accounting for them.

Further rise

The debt stock will rise with the expected borrowing from the World Bank, African Development Bank and the Islamic Development Bank which were arranged to finance the 2020 Budget Appropriation.

The Nigeria Customs Service was recently given part of these funds to automate its services at the ports, to the tune of $3.1 billion.

Most of the loans are long term facilities with the repayment beginning already while the fresh loans’ repayment begin from 2022.

On the Sukuk bonds and other domestic bonds, their maturity periods are often between five and seven years for the repayment.


What you owe

The ministry of finance recently said there are plans made for the loans to be repaid. So far in the 2020 budget, over N3 trillion or a quarter of the budget is dedicated to debt servicing, for repaying the debts.

At N31 trillion, every Nigerian from the over 200 million population owes the debtors N155,000 in debt.

This debt per Nigerian will rise further when the loans from World Bank, AfDB and IsDB comes in later this year.

https://dailytrust.com/nigerias-debts-how-each-nigerian-owes-n155000

4 Likes 3 Shares

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by Kendumazy(m): 10:48pm On Sep 22, 2020
Not the government owing again. It's each Nigerian.

For this country, last last, We will be alright.

202 Likes 5 Shares

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by Vyzz: 10:48pm On Sep 22, 2020
How much have I spent since I was born to owe that amount of money.

Nnamdi Kanu please is there still space in your wagon

410 Likes 18 Shares

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by Kendumazy(m): 10:50pm On Sep 22, 2020
Vyzz:
How much have I spent since I was born to owe that amount of money.


Nnamdi Kanu please is there still space in your wagon

You can be owing the government unknowingly and without your consent. It's only possible in Nigeria. Hahahahahaha!

262 Likes 11 Shares

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by Vyzz: 10:53pm On Sep 22, 2020
Kendumazy:


You can be owing the government unknowingly and without your consent. It's only possible in Nigeria. Hahahahahaha!




If I pay am make I die grin grin

283 Likes 8 Shares

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by babyphaze07(m): 10:57pm On Sep 22, 2020
This country is seriously sick and won't recover. Since a Nigerian owes #155k, such is already a slave to the lenders. Whenever we are ready to make naija better, no one will tell us to hit the street to bring the bad govt down.....but until then, we will remain a zombie.

168 Likes 11 Shares

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by Kendumazy(m): 10:57pm On Sep 22, 2020
Vyzz:





If I pay am make I die grin grin

Saddest truth is that, the way things are going. One's upcoming generations will pay for it. How i wish, there are visible tangible human development and beneficial infrastructures for all these loans. This news wouldn't be something to worry about.

59 Likes

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by Elsueno: 10:58pm On Sep 22, 2020
Me, am not paying anything woh, any organisation that gives Nigeria money currently go just enter voicemail. Money just gets looted without carrying out d projects that was meant for it.

At least it should be like chinco loan way sharks no go see Kobo, but the project will just be executed instead. Chinco understand the greedy and kleptomaniacs we have in power.

31 Likes 3 Shares

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by Nbotee(m): 10:59pm On Sep 22, 2020
Only in dis Country will u b owing without knowing... Shebi dis is my fadaland, make dem com show me my own plot I wan sell am

140 Likes 5 Shares

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by 10kgod(m): 10:59pm On Sep 22, 2020
laughter wan kill me here.... I swear. Me owing #155000.

Abeg, when did I collect loan?

This an undiluted nonsense. wetin concern me self. You kuuku will not ask me to pay anything. It's a fiction to me. Covid-19 palliative is there up till now. No update on that again. Rubbish government.

53 Likes 2 Shares

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by Earlystar698(m): 11:01pm On Sep 22, 2020
If i am going to be honest with you ,in my own humble opinion without being sentimental of course, without offending anyone who thinks differently from my own point of view,but also by looking into this matter in distinctive perspective ,i would like to say i have nothing to say.

34 Likes 2 Shares

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by Kendumazy(m): 11:06pm On Sep 22, 2020
10kgod:
laughter wan kill me here.... I swear. Me owing #155000.

Abeg, when did I collect loan?

This an undiluted nonsense. wetin concern me self. You kuuku will not ask me to pay anything. It's a fiction to me. Covid-19 palliative is there up till now. No update on that again. Rubbish government.

Hahahahahaha! Sadly, that's not how much you owe. You owe more than that. Don't shout yet.

By the time they add loans from World Bank, AfDB and IsDB that comes in later this year, you will know how to shout proper. Lol.

Very yeye country.

37 Likes

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by bigtt76(f): 11:07pm On Sep 22, 2020
Ok they should share with us the bank account number to pay off our own share of the debt.....at least those who can afford it and in return our taxes are waived cheesy



Kendumazy:
The Debt Management Office, DMO, has announced that the total debt stock of Nigeria rose to N31 trillion as of June 2020.

It also said the debts are expected to rise this year following more debts to be sourced from international financiers.

As of March 2020, the debt was at N28.6trn comprising all debts of the Federal Government, the 36 state governments and the Federal Capital Territory (FCT).


The latest debt total of N31.009trn debt is about $85.897 billion while that of March which was N28.628trn was about N79.303bn.

Cause of increase

The debt stock grew by N2.38trn or $6.59bn within the three months interval.


The additional increase was due to the $3.36bn Budget Support Loan from the International Monetary Fund IMF), new Domestic Borrowing to finance the Revised 2020 Appropriation Act, the issuance of the N162.557bn Sukuk, and Promissory Notes issued to settle Claims of Exporters.

The components of the debts are:

The multilateral debts are the highest of the stock of N16.360trn accounting for 51.97% of the total stock. The 10 agencies include IMF, World Bank Group, the African Development Bank (AfDB) Group, Eurobonds and Diaspora bonds.

The bilateral debts account for N3.948trn representing 12.54% of the debt stock taken from the international development agencies of China, France, Japan, India and Germany.

The third debt category is the commercial debt which is N11.168trn and represents 35.48% of the debt. This is the second largest debt after those of the multilateral agencies with Eurobonds and Diaspora bonds accounting for them.

Further rise

The debt stock will rise with the expected borrowing from the World Bank, African Development Bank and the Islamic Development Bank which were arranged to finance the 2020 Budget Appropriation.

The Nigeria Customs Service was recently given part of these funds to automate its services at the ports, to the tune of $3.1 billion.

Most of the loans are long term facilities with the repayment beginning already while the fresh loans’ repayment begin from 2022.

On the Sukuk bonds and other domestic bonds, their maturity periods are often between five and seven years for the repayment.


What you owe

The ministry of finance recently said there are plans made for the loans to be repaid. So far in the 2020 budget, over N3 trillion or a quarter of the budget is dedicated to debt servicing, for repaying the debts.

At N31 trillion, every Nigerian from the over 200 million population owes the debtors N155,000 in debt.

This debt per Nigerian will rise further when the loans from World Bank, AfDB and IsDB comes in later this year.



Source : https://dailytrust.com/nigerias-debts-how-each-nigerian-owes-n155000

6 Likes 1 Share

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by Nobody: 11:33pm On Sep 22, 2020
Kendumazy:
The Debt Management Office, DMO, has announced that the total debt stock of Nigeria rose to N31 trillion as of June 2020.

It also said the debts are expected to rise this year following more debts to be sourced from international financiers.

As of March 2020, the debt was at N28.6trn comprising all debts of the Federal Government, the 36 state governments and the Federal Capital Territory (FCT).


The latest debt total of N31.009trn debt is about $85.897 billion while that of March which was N28.628trn was about N79.303bn.

Cause of increase

The debt stock grew by N2.38trn or $6.59bn within the three months interval.


The additional increase was due to the $3.36bn Budget Support Loan from the International Monetary Fund IMF), new Domestic Borrowing to finance the Revised 2020 Appropriation Act, the issuance of the N162.557bn Sukuk, and Promissory Notes issued to settle Claims of Exporters.

The components of the debts are:

The multilateral debts are the highest of the stock of N16.360trn accounting for 51.97% of the total stock. The 10 agencies include IMF, World Bank Group, the African Development Bank (AfDB) Group, Eurobonds and Diaspora bonds.

The bilateral debts account for N3.948trn representing 12.54% of the debt stock taken from the international development agencies of China, France, Japan, India and Germany.

The third debt category is the commercial debt which is N11.168trn and represents 35.48% of the debt. This is the second largest debt after those of the multilateral agencies with Eurobonds and Diaspora bonds accounting for them.

Further rise

The debt stock will rise with the expected borrowing from the World Bank, African Development Bank and the Islamic Development Bank which were arranged to finance the 2020 Budget Appropriation.

The Nigeria Customs Service was recently given part of these funds to automate its services at the ports, to the tune of $3.1 billion.

Most of the loans are long term facilities with the repayment beginning already while the fresh loans’ repayment begin from 2022.

On the Sukuk bonds and other domestic bonds, their maturity periods are often between five and seven years for the repayment.


What you owe

The ministry of finance recently said there are plans made for the loans to be repaid. So far in the 2020 budget, over N3 trillion or a quarter of the budget is dedicated to debt servicing, for repaying the debts.

At N31 trillion, every Nigerian from the over 200 million population owes the debtors N155,000 in debt.

This debt per Nigerian will rise further when the loans from World Bank, AfDB and IsDB comes in later this year.



Source : https://dailytrust.com/nigerias-debts-how-each-nigerian-owes-n155000



Na u owe, I am not owing anybody

3 Likes

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by chiefolododo(m): 11:34pm On Sep 22, 2020
I no understand
Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by Racoon(m): 11:45pm On Sep 22, 2020
grin Olorun koni gba ki ori mi ma gbà abode.Awón chronic debtors atì zombie ti n'gba wón ni moran èwa són gbese ti ejé.

19 Likes 2 Shares

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by GreaterFuture1(m): 12:10am On Sep 23, 2020
Lol no be me and you oh

50 units of 30Tonne Tippers needed for Long term Hire/Lease (6months - 1Year) within Lagos and Ogun States. If you are ready and can provide this, Call me 08071056794

2 Likes

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by Nobody: 12:22am On Sep 23, 2020
shocked nawao
Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by mp3ree: 12:46am On Sep 23, 2020
Kendumazy:
The Debt Management Office, DMO, has announced that the total debt stock of Nigeria rose to N31 trillion as of June 2020.

It also said the debts are expected to rise this year following more debts to be sourced from international financiers.

As of March 2020, the debt was at N28.6trn comprising all debts of the Federal Government, the 36 state governments and the Federal Capital Territory (FCT).


The latest debt total of N31.009trn debt is about $85.897 billion while that of March which was N28.628trn was about N79.303bn.

Cause of increase

The debt stock grew by N2.38trn or $6.59bn within the three months interval.


The additional increase was due to the $3.36bn Budget Support Loan from the International Monetary Fund IMF), new Domestic Borrowing to finance the Revised 2020 Appropriation Act, the issuance of the N162.557bn Sukuk, and Promissory Notes issued to settle Claims of Exporters.

The components of the debts are:

The multilateral debts are the highest of the stock of N16.360trn accounting for 51.97% of the total stock. The 10 agencies include IMF, World Bank Group, the African Development Bank (AfDB) Group, Eurobonds and Diaspora bonds.

The bilateral debts account for N3.948trn representing 12.54% of the debt stock taken from the international development agencies of China, France, Japan, India and Germany.

The third debt category is the commercial debt which is N11.168trn and represents 35.48% of the debt. This is the second largest debt after those of the multilateral agencies with Eurobonds and Diaspora bonds accounting for them.

Further rise

The debt stock will rise with the expected borrowing from the World Bank, African Development Bank and the Islamic Development Bank which were arranged to finance the 2020 Budget Appropriation.

The Nigeria Customs Service was recently given part of these funds to automate its services at the ports, to the tune of $3.1 billion.

Most of the loans are long term facilities with the repayment beginning already while the fresh loans’ repayment begin from 2022.

On the Sukuk bonds and other domestic bonds, their maturity periods are often between five and seven years for the repayment.


What you owe

The ministry of finance recently said there are plans made for the loans to be repaid. So far in the 2020 budget, over N3 trillion or a quarter of the budget is dedicated to debt servicing, for repaying the debts.

At N31 trillion, every Nigerian from the over 200 million population owes the debtors N155,000 in debt.

This debt per Nigerian will rise further when the loans from World Bank, AfDB and IsDB comes in later this year.



Source : https://dailytrust.com/nigerias-debts-how-each-nigerian-owes-n155000

Cc: Mynd44, Lalasticalala



make them come put hand for my pocket na,na me borrow money

2 Likes

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by EDSG2028: 12:48am On Sep 23, 2020
I don’t owe shit

6 Likes 1 Share

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by Nobody: 4:20am On Sep 23, 2020
You guys are expected to pay your debts to me
Dm for acct no grin grin grin grin
Shebi we are all mad ni

17 Likes

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by Miyachi: 4:57am On Sep 23, 2020
Just the other day, I was reading how in another country each citizen is entitled to about $200k if the money in their sovereign wealth account is to be shared.

Although in the context of a nation, debt is not a bad thing but when you can't show any development as a result of that debt...

11 Likes

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by ShenTeh(m): 4:59am On Sep 23, 2020
Considering that our population census figures of 200 milliin are inflated, we are much more indebted.

Tell me who amongst our numerous lenders I am to pay mine to to getet out of this contraption. Eddiotz in power.

Nigerians have continued to sink deeper in abject penury while the politicians and crooked business owners continue to double their welcome.

Let all remember that like the growing debt profile, the monsters they help create are growing as well.

10 Likes 4 Shares

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by QuietHammer(m): 5:00am On Sep 23, 2020
You and who?
Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by Dangrace01: 5:00am On Sep 23, 2020
Lol

1 Like

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by bioemmy: 5:01am On Sep 23, 2020
How?
So you mean the child my sister gave birth to some days ago is already a debtor?

You mean I'm a debtor even when I haven't benefited in any form from this government. I won't pay my own part oooooo.

Let the creditor read this loud and clear, I can't pass out what I didn't eat.

Is Dangote, Otedola and Elumelu owing this money too. I wonder how they'll react when they read this news

Being born in Nigeria is a natural deficit, being born in a poor home in Nigeria is double tragedy. Being a first born in a poor Nigerian home is triple calamity.

Giving birth to one's kids in a better country is one of the best legacy and inheritance one can give them.

This country is heading for *******.

50 Likes 4 Shares

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by tillaman(m): 5:01am On Sep 23, 2020
grin
Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by emmabest2000(m): 5:03am On Sep 23, 2020
Bubu & co will never go unpunished grin

30 Likes 3 Shares

Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by kennyz247(m): 5:04am On Sep 23, 2020
ds is serious
Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by Timekeeper: 5:04am On Sep 23, 2020
Dem no bank well make dem remove 5 naira from my account and tell me it is to pay Nigeria debt.....

Dem no born them well

Gtb if dem born una well, charge me 5 naira peren and una go see drama.

Access bank, I no kuku get money but una must not touch my kobo sef.

Firstbank, I know my acct is dormant but my 893 naira and some kobo, if dem Born una well, Make una try touch am..

Una go see madess

45 Likes 2 Shares

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