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Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO (6862 Views)

NBS: Nigeria’s Total Public Debt Increased By ₦2.4 Trillion In Q2 2020 / Nigeria Owes N25.7 Trillion – DMO / NBS Says Nigeria's Total Public Debt Stood At N25.70trn In Q2 2019 (2) (3) (4)

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Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by realstars: 7:19am On Jun 11
obembet:
Buhari deserve another tenure
May He Stay Long To pay His Debts.
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by admiral450: 7:23am On Jun 11
We are in problem in this country
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by rummmy: 7:23am On Jun 11
They should sale Lagos and Abuja to pay it off....80% of that debt was spent in Lagos ,Abuja and Kano ....bubu is working.
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by ChiefSosa(m): 7:24am On Jun 11
Yet, they're willing to lose money over twitter problem. Buhari is still wasting tax payers' money. No problem sha. We have Slawormiir and he is working day and night. He'll pay off our debt.

2 Likes

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Asianjollof007: 7:25am On Jun 11
Hmmm.. Debt upon debts, tell me how naira would have value. E don spoil patapata
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Trentee4eva: 7:28am On Jun 11
Some mentally deranged people still call him darling daddy. $1=#502, Petrol = #165, yet they pay billions of Naira as subsidy. Second highest unemployment rate in the world. Increased insecurity and then a triple of Nigeria’s debt. Tell me more about your darling daddy.
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by just2endowed: 7:29am On Jun 11
risos:
The figure is small. There's no problem, after all no be igr dem dey use service the debt, other countries are more indebted than this.

The only problem here is the nations that lend Nigeria the money are the same nations that collect the money back in the name of contract.


Example china
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by EmmanuelScott1(m): 7:30am On Jun 11
Buhari the borrower grin grin grin

Specialist in failure, with the hight debt, how he wan provide jobs he talk? grin grin
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Racoon(m): 7:32am On Jun 11
The question is who will pay these debts? I know definitely not me or my children.
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Nobody: 7:36am On Jun 11
We are in debt because we (the government actually, but most of us voted them in!)refuse to take the following alternatives

1.Higher taxes, along with wideining the tax base.: Taxes still remain low, plus right now only 30% of the taxable populaiton actually pays taxes.

2.Diversificaiton: Oil is still our major earner, despite not contributing most of our GDP. (Which leads back to no1...our tax to gdp ratio is 6.1%..lower than even Niger Republic where it is 15%)
Also, we haven't increased agricultural and mineral exports. Mining is still an unregulated mess.(especially in Zamfara)

3.Cutting subsidies...because we are too afraid of short term price increases, we throw away a lot of money...which we don't have...on subsidsing petrol...most of which is imported because decades of subsidsing fuel led to our refienreis breaking down due to their not being run profitably....and electric power. So,trillions go down the drain annually.

4.Oil prices have not been high enough for us to earn much of an income.
To understand why...consider that our breakeven price was $122 in 2012, $139 by 2017 and $133 lkast year. Actual oil prices were $107 in 2012, $52.51 in 2017, and $41 in 2020. Even during GEJ's regime of plenty...we still lost money selling oil. And we have lost far more under Buhari because the oil price has not been high enough for us at all.

1 Like

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Kingcalls: 7:38am On Jun 11
This is what u get when u allow sub humans rule u... a region that dont have a single state with a cut off mark of 100 ruling a region that has 119 as the least cut off mark in its region.... fulani should be followers and not leaders cos they are sub humans.... in an advanced world today, look at who is ruling us....smh
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Goodness10(m): 7:39am On Jun 11
We have to come accept the things we cannot change. Na just one year and nine months of terrorism na remaining so we should have patience. That GOD that kept you through the last six years of terrorism is still there for you.
STOP complaining it will change NOTHING
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by KRSWon: 7:39am On Jun 11
UstazAhmed:
These debts are not embezzled unlike when the south was in power. They are being judiciously used for infrastructures.

Enough of these wailings. Buhari is the best leader ever in Nigeria

Buhari regime looting Nigeria with impunity: U.S.
https://gazettengr.com/buhari-regime-looting-nigeria-with-impunity-u-s/
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by yusluvad(m): 7:40am On Jun 11
It's not their fault. Their brain doesn't function...
Xscape1993:
And some analog youths here will still support their president. I pity some of the youths here. Tribal, religion & party affiliation sentiment have blinded your eyes so badly that you don't even know the functions of the president. What a country rule by unfortunate people!
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Chirowman(m): 7:41am On Jun 11
Is alright
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Benblaq(m): 7:44am On Jun 11
UstazAhmed:
These debts are not embezzled unlike when the south was in power. They are being judiciously used for infrastructures.

Enough of these wailings. Buhari is the best leader ever in Nigeria
Really?
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Harmattan123(m): 7:45am On Jun 11
Continue!!!!!

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Gokoyer0(m): 7:46am On Jun 11
The rate at which the prices of construction materials have skyrocketed is unbelievable. Recently, everything has more than doubled in prices.

No be curse, lives of anyone still supporting this devilish government will be managed the same way Buhari is running Nigeria right now.
noobs123:
As things are going, naira could get to #2000 to 1$
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by PerfectlyPerfect(m): 7:46am On Jun 11
risos:
The figure is small. There's no problem, after all no be igr dem dey use service the debt, other countries are more indebted than this.

The only problem here is the nations that lend Nigeria the money are the same nations that collect the money back in the name of contract.

Debt servicing isn't the same as debt repayment. Other countries are more indebted than this but d difference is what they're using their loans for
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by prince3009(m): 7:47am On Jun 11
UstazAhmed:
These debts are not embezzled unlike when the south was in power. They are being judiciously used for infrastructures.

Enough of these wailings. Buhari is the best leader ever in Nigeria

Mention just one infrastructure (if you even know what it means) that your buhari has set up since he came into power. I am waiting!!

Back to the post, when buhari said he would make $1 equal to N1, people didn't know that what he had in mind was $1 was going to be N1000. He simply did not add the three zeros.
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Gokoyer0(m): 7:48am On Jun 11
He is aboki. Don't mind him, he is thinking via his anu.s.
Benblaq:
Really?
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Nobody: 7:49am On Jun 11
UstazAhmed:
These debts are not embezzled unlike when the south was in power. They are being judiciously used for infrastructures.

Enough of these wailings. Buhari is the best leader ever in Nigeria

Actually, the debts are mostly NOT being used for infrastructure...it is being used for your normal day to day spending....

This is what happens when , as an oil dependent country, the price of oil is not as high as it should be for you to live comfortably.

And to be honest, Buhari is not really spending much on infrastructure...even hsi railway projects are just a continuation of the old rail projects of the previous admins. Only one refinery is getting a refurbish, and power is still as it is (though to be fair, power has been privatised since 2013/4..so much of it is not government's business)

1 Like

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by ELKHALIFAISIS(m): 7:51am On Jun 11
Ok .... buhari clown continue
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Nobody: 7:54am On Jun 11
Trentee4eva:
Some mentally deranged people still call him darling daddy. $1=#502, Petrol = #165, yet they pay billions of Naira as subsidy. Second highest unemployment rate in the world. Increased insecurity and then a triple of Nigeria’s debt. Tell me more about your darling daddy.

The subsidy is why fuel is at N162-5.

In other West African countries where there is no subsidy...fuel costs N300 and above per liter.(In Ghana it is 447 naira per liter. In Niger it is 370 per liter)

Infact Nigeria has the cheapest fuel in the whole of subsharan Africa...excepting Angola.

That it seems so 'high' has a lot to do with the falling value of the naira due to falling crude oil prices leading to a shortage of dollars to buffer the naira.
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by HEAVEN4444: 7:55am On Jun 11
thats not much at all. only 60 billion dollars. we are in good shape
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Gokoyer0(m): 7:56am On Jun 11
Right now, Nigeria's debt is 80.2billion USD shocked. Zombies' great grandchildren will also pay from this debt grin.
BrandSpurNG:



https://brandspurng.com/2021/06/10/nigerias-public-debt-15-64-n33trn-dmo/
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Gokoyer0(m): 7:58am On Jun 11
You must be aboki or yoruba muslim, no doubt. You will be fine, don't worry.
Beancounter93:


The subsidy is why fuel is at N162-5.

In other West African countries where there is no subsidy...fuel costs N300 and above per liter.(In Ghana it is 447 naira per liter. In Niger it is 370 per liter)

Infact Nigeria has the cheapest fuel in the whole of subsharan Africa...excepting Angola.

That it seems so 'high' has a lot to do with the falling value of the naira due to falling crude oil prices leading to a shortage of dollars to buffer the naira.
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by eldoradoxx(f): 7:59am On Jun 11
APC and its members congratulations on this giant achievement.
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by williams85(m): 8:03am On Jun 11
All the BMC should come and defend their pay master..
Food is ready.
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Fivepercent: 8:04am On Jun 11
It must be a leap year

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