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CBN: Rising Debt Servicing Cost Can Impede Growth - Politics (3) - Nairaland

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Re: CBN: Rising Debt Servicing Cost Can Impede Growth by Denique(f): 6:36am On Nov 06, 2020
Rising Debt Servicing Cost Can Is Impede Impeding Growth

Fixed undecided
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by Uwa11(m): 6:37am On Nov 06, 2020
Racoon:

"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.Guess recession is still a byword?
God pls come to our help, me my self a so afraid of 9ja's tomorrow, the way things are going
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by Brushstrokes20: 6:42am On Nov 06, 2020
Say it loud to your redundant coupist of a boss!
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by reiddecuti: 6:43am On Nov 06, 2020
Money I never seen or taste nor see it working for me. This will serve as a good good lesson to Nigerians when electing their leaders.
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by TAYO124: 6:45am On Nov 06, 2020
There is no growth for Nigeria as a nation without genuine restructuring.
Till then she will continue to borrow to safe face.
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by damilola4162(m): 6:47am On Nov 06, 2020
Racoon:
Chronic borrowing or debt pillage is a sign of economic cluelessness.Servicing these debts in itself is not a sound economic policy because debt servicing is not debt payment

Cut costs of governance(salary of presidency/NASS, reduce foreign travels until really needful, disposed off the excess presidential jets, scrapping of redundant agencies esp.NNPC & merging of others,etc), no plea bargain for indicted corrupt persons, prospecting for alternate energy system, cut off wasteful oil exploration,

However, Nigeria's case @ present is a government that is just senselessly obsessed with endless borrowings. Perhaps until Nigeria is offered for sale by our creditors on e-bay, Amazon, OLX before una go understand what is @ stake.


God Bless you, you said it all.....
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by shadeyinka(m): 7:06am On Nov 06, 2020
Zetty177x:
Incompetent lots. Resign if u can't revive Nigerian economy. For where, them go tanda for office. From president to VP to Ministers
Unfortunately, both the CBN governor and the Minister of Finance can only tow the ropes of the President. They do whatever the President tells them to do.

The President says we need more money, it's their job to find it at all cost!

1 Like

Re: CBN: Rising Debt Servicing Cost Can Impede Growth by desolvay: 7:16am On Nov 06, 2020
It has been established that Nigeria is a country where you see that something is totally wrong and we still partner to it, why is the CBN telling us now rather than the blunt government that appointed you into the office when you the economic effects in our country. Please what you don't want, you don't watch, what you don't confront have a right to remain by Bishop David. O. Oyedepo
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by Xzellentgraphic: 7:16am On Nov 06, 2020
ecclize:


My weariness comes from the fact that Nigerians don't learn... seems the electorate easily forget the four years suffering once Naira changes hand during elections.

Going by the emergency of some candidate in recent election... i can't but think Nigeria is irredeemable. The system has been so set up in such a way that corruption has been institutionalised...

imagine Sanwo saying in the other thread that he hasn't bought an official car for himself or any of his family members...

The day i see Nigerians dishing APC, PDP and their ilks during elections. is the day i will cast my first vote as a Nigerian.

bros we never serious... don't be surprise Tinubu might win 2023...
na here we go dey

Tinubu winning...might be in the next generation not this current one
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by hush15: 7:35am On Nov 06, 2020
Racoon:

https://www.google.com/amp/s/punchng.com/rising-debt-servicing-cost-can-impede-growth-cbn/%3famp=1
Imagine....

E don dey too much for you to handle abi.
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by ecclize: 7:45am On Nov 06, 2020
seguno2:


Are you not also a Nigerian, or which Nigerians are you waiting for and expecting to dish APC, PDP and their ilks during elections before you will cast your first vote?
Does that show any seriousness on your part? How can you, being so terribly unserious, expect a serious government to work for you

bro stop motivating urself... democracy is a game of number... if u don't have the numbers... u don't have the power.

the problem is not just the leader alone... most of the citizens are also, corruption...

I won't engage myself in a futile endeavour...

abi no be this country we gather dey since 1999?...

even people who tried to shake up things are tagged imposters, opportunist and selfish.

if we gather ready we go know... we need no to prophet to tell us that.

bro if u tag me unserious na ur opinion.. it doesn't remove a strand of hair on my body.

and if u are serious am ready to learn tell me something I don't know and if u are correct i go follow join you.

peace
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by Reference(m): 7:47am On Nov 06, 2020
Lovely.
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by 400billionman: 8:26am On Nov 06, 2020
In order words, the Nigerian government is no longer credit worthy.

I will rather farm than lend to FG.
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by 400billionman: 8:31am On Nov 06, 2020
Racoon:
Chronic borrowing or debt pillage is a sign of economic cluelessness.Servicing these debts in itself is not a sound economic policy because debt servicing is not debt payment

Cut costs of governance(salary of presidency/NASS, reduce foreign travels until really needful, disposed off the excess presidential jets, scrapping of redundant agencies esp.NNPC & merging of others,etc), no plea bargain for indicted corrupt persons, prospecting for alternate energy system, cut off wasteful oil exploration,

However, Nigeria's case @ present is a government that is just senselessly obsessed with endless borrowings. Perhaps until Nigeria is offered for sale by our creditors on e-bay, Amazon, OLX before una go understand what is @ stake.

What we have at hand are people with zero sense of economic management.

If a rail requires $2bn to construct, they go cap in hand to borrow $2bn. When there are many wasting assets in the country that can be converted. And they are inflated figures. What is Nigeria's business with non functional refineries ? When there are people who can buy them up and reconfigure them.

What is Ajaokuta steel contributing to the national economy ?

I detest mumuism in governance.
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by Agbegbaorogboye: 8:33am On Nov 06, 2020
I thought zombies said we're borrowing to fund infrastructure and everyone does it.
The place wey zombies dey drive Nigeria go, na only dem know.
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by Agbegbaorogboye: 8:44am On Nov 06, 2020
PhiliptheArab:
The cost of governance has to be cut.

Subsidies in the petroleum and power sector have to be cut as well...so that we can get in more investment and more jobs

It's that simple.
Which subsidy again
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by Kirchoffs: 8:49am On Nov 06, 2020
It's goona be a long ride......We still have two more solid years of suffering to endure. 5000 naira is just like 1000 naira now

To the BMC Zombies still supporting this clueless government well your cup would soon get full
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by SUFFERInSMILIIN(m): 10:13am On Nov 06, 2020
ChimaAdeoye:
I heard FG just concluded plans to borrow $2 billion dollars from Italy!

What type of irresponsible government that will be borrowing everywhere from countries paying their Senators less than Nigerian Senators?

Have you been sleeping all of this time can't you see they are borrowing money to repay debt. It is called borrowing to repay borrowing
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by jaxxy(m): 10:42am On Nov 06, 2020
CBN has no solution just talk.
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by Zetty177x: 3:29pm On Nov 06, 2020
shadeyinka:

Unfortunately, both the CBN governor and the Minister of Finance can only tow the ropes of the President. They do whatever the President tells them to do.

The President says we need more money, it's their job to find it at all cost!


Lol at ur second paragraph.. . But to be candid, are they not going to advice him against this borrowing?

1 Like

Re: CBN: Rising Debt Servicing Cost Can Impede Growth by shadeyinka(m): 3:58pm On Nov 06, 2020
Zetty177x:



Lol at ur second paragraph.. . But to be candid, are they not going to advice him against this borrowing?
They will not advice him against it unless we have maxed out the DSR ratio to more than 33%. Nigeria is still about 30%, hence their clamour for more borrowing

BTW,the way governance works is this. The Adviser NEVER goes to the President and says "I have an idea!"
Instead, it's the President that calls his adviser and says "I want to kill IPOB constitutionally, how can it be done?" or "I want to stop the #EndSARS protest, how can a do it with maximum effect on the conveners?" Then the special adviser can do their duty, otherwise, they stay dormant in their offices

2 Likes

Re: CBN: Rising Debt Servicing Cost Can Impede Growth by suremanpatriot: 7:59pm On Nov 06, 2020
d problem is presidentia system of govt is too expensive for nigeria to sustain.Revert to parliamentary sys ,Close the natonl assembly to pay naija debt.

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