Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,690,116 members, 6,337,589 topics. Date: Sunday, 13 June 2021 at 10:10 PM

Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO - Politics (3) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO (6627 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)

(1) (2) (3) (Reply) (Go Down)

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Xhuntra: 8:13am On Jun 11
Buhari has finally scattered this country with loans

cc: mannabbqgrills, onionbandit, tinubuadvocate, sirjamo, thebosstrevor1, vedaxcool
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Reinaldo: 8:16am On Jun 11
Vulcanheph:
All Thanks to Buhari.... The mere fact that Zombies avoid threads like this is a proof that they know what they're doing.

Those zombies are evil urchins

1 Like

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by mmadu5(m): 8:21am On Jun 11
those giving them these loans are mad. like do they expect Nigeria to repay them? onyibo mumu sha
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Cnach: 8:22am On Jun 11
LaSenior:
grin

Keep borrowing to consume

Naira is having a free fall

Minister of finance nowhere to be found this one don pass her power because she's a product of quota system
Vice President nko and his economic team are just there for formalities

I know that PDP is bad but what we are having is worst and anybody who doesn't see that APC is worst is a paid zombie ,

This days nairaland is becoming so annoying because of some brain dead fellows who comes here to defend a proven evil and anti people government.

If you defend evil may that evil you are defending consume you because you are not a human being with feelings rather you are a zombie .

My happiness is that one mumu man for my street wey really dey support buhari then don relocate go village after he don sale his car for city .
Check all these people supporting buhari they're in deep suffering and gnashing of teeth compared to the good people of Nigeria who condemned this evil government,

If you see a zombie doing their dirty and shameless work here on nairaland don quote them stop making them popular pls don't argue with them
Me self if I don enter nairaland see that news on front page it all about buhari and APC I go know say news no dey bc it either they are announcing backwardness or oppression of the citizens, what's the news there?
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by tnerro1(m): 8:23am On Jun 11
Where is the quota system finance minister, doesn’t she have anything to say?

1 Like

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by KRSWon: 8:26am On Jun 11
mmadu5:
those giving them these loans are mad. like do they expect Nigeria to repay them? onyibo mumu sha

Lending countries like China purposely give poor or corrupt countries like Nigeria these loans knowing they won't be able to pay them back because the main goal are these countries' assets.

https://en.m.wikipedia.org/wiki/Debt-trap_diplomacy

1 Like 1 Share

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by bencr7: 8:29am On Jun 11
See how PMB cow group avoid this trend,they know very well that their god father don finish this country but dey will never admit it but while na our future children go hear am even d zombies
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by mmadu5(m): 8:31am On Jun 11
KRSWon:


Lending countries like China purposely give poor or corrupt countries like Nigeria these loans knowing they won't be able to pay them back because the main goal are these countries' assets.

https://en.m.wikipedia.org/wiki/Debt-trap_diplomacy

then we are in deep mess . i wipe for the next generation .

1 Like

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by LivingTribunal: 8:33am On Jun 11
[/s]
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
[s]
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Xclusivedaniel6(m): 8:38am On Jun 11
Stupid and senseless Buhari supporters will avoid this post
but if na train and river niger, you'll see them exhibiting stupidity
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by bencr7: 8:38am On Jun 11
Benblaq:
Really?
u they mind that one check is name na all diz fulani cow yet their regions is d most terrorized regions in Nigeria even with their brother in power d north is d most unsafe place in Nigeria and d funny is that a emir was suspended becuz of supporting banditry in zamfara they still went to d state government house to protest against d decision of d governor
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Beancounter93(m): 10:46am On Jun 11
Gokoyer0:
You must be aboki or yoruba muslim, no doubt. You will be fine, don't worry.


For your information, here is the prices of petrol for West African countries in naira as at 7th June. PER LITER. (SAUCE)

Nigeria: 166 naira
Togo: 323 naira
Sierra Leone: 342 naira.
Benin : 384 naira
Chad : 396 naira...and chad produces oil.
Ghana: 448 naira
Ivory Coast: 468 naira
MALI: 511 naira.

If you click the source, you can find other prices in Naira

All those coutnries don't subsidise fuel...that's why they pay higher for fuel. And they are all, excpet prolly Chad, net importers of fuel like Nigeria is . Subsidy is why fuel is as low as N162-66 here.

FYI..I am not Yoruba, Hausa, Ibo,nor am I a muslim , son. And I never ever voted for Buhari and his geng in my life...and never will.
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by techWriter1: 10:48am On Jun 11
Las Las this folks will goan borrow from LAPO After dat dem go Auction the region
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by nedekid: 12:03pm On Jun 11
LaSenior:
grin

Keep borrowing to consume

Naira is having a free fall

Minister of finance nowhere to be found this one don pass her power because she's a product of quota system
Vice President nko and his economic team are just there for formalities

I know that PDP is bad but what we are having is worst and anybody who doesn't see that APC is worst is a paid zombie ,

This days nairaland is becoming so annoying because of some brain dead fellows who comes here to defend a proven evil and anti people government.

If you defend evil may that evil you are defending consume you because you are not a human being with feelings rather you are a zombie .

My happiness is that one mumu man for my street wey really dey support buhari then don relocate go village after he don sale his car for city .
Check all these people supporting buhari they're in deep suffering and gnashing of teeth compared to the good people of Nigeria who condemned this evil government,

If you see a zombie doing their dirty and shameless work here on nairaland don quote them stop making them popular pls don't argue with them
One of my guys that could slap you because of buhari 6 years ago don de hear am. Lost his 2 suvs, lost his job, downgraded children's school etc. Na so I de receive text and calls from fairmoney, lc money, branch etc saying so so person weh de my contact de own them. Fresh guy before now looking destitute.
Buhari don reset em brain.
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by nedekid: 12:12pm On Jun 11
K
Beancounter93:



For your information, here is the prices of petrol for West African countries in naira as at 7th June. PER LITER. (SAUCE)

Nigeria: 166 naira
Togo: 323 naira
Sierra Leone: 342 naira.
Benin : 384 naira
Chad : 396 naira...and chad produces oil.
Ghana: 448 naira
Ivory Coast: 468 naira
MALI: 511 naira.

If you click the source, you can find other prices in Naira

All those coutnries don't subsidise fuel...that's why they pay higher for fuel. And they are all, excpet prolly Chad, net importers of fuel like Nigeria is . Subsidy is why fuel is as low as N162-66 here.

FYI..I am not Yoruba, Hausa, Ibo,nor am I a muslim , son. And I never ever voted for Buhari and his geng in my life...and never will.
Bros I think the purchasing power matters. I think the minimum wage in Ghana is higher.
Eg, a Ghanaian water tank repairer I engaged months back here in Lagos to fix my tank charged me 4k, the same fellow told me if he were on ghana he would charge equivalent of 30k for the same work and the person will thank him for giving a good price!
He said the only difference was that you see such repairs fewer because maintainance culture in Ghana is high so fewer tanks to repair unlike Nigeria.
So the fact that fuel is 448 naira the reflective purchasing power might negate any comparisms to Nigeria.

1 Like

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Beancounter93(m): 12:18pm On Jun 11
nedekid:
K
Bros I think the purchasing power matters. I think the minimum wage in Ghana is higher.
Eg, a Ghanaian water tank repairer I engaged months back here in Lagos to fix my tank charged me 4k, the same fellow told me if he were on ghana he would charge equivalent of 30k for the same work and the person will thank him for giving a good price!
He said the only difference was that you see such repairs fewer because maintainance culture in Ghana is high so fewer tanks to repair unlike Nigeria.
So the fact that fuel is 448 naira the reflective purchasing power might negate any comparisms to Nigeria.

1.Nigeria's minimum wage compared to Ghana is higher...30000 to Ghana's 25,059 naira (11.82 cedis a day, 355 cedis a month). Ghana GDP per capita is 2202 dollars, Nigeria's 2229 dollars.
Our purchsing power parity is even higher than Ghana self..
2. And even then, using minimum wage is not a good measure...a lot of people in both countries earn far higher than minimum wage!
3.And by the way, Mali, Niger, Chad, and the other countries on my list are poorer than Nigeria...so your argument cannot apply to them.
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Gokoyer0(m): 3:05pm On Jun 11
Methuselah, go and look for someone else to lecture. Btw, you dare not call me a son in real life no matter how old you are.
I left the dead country for una, make una continue supporting your devilish Buhari.
Beancounter93:



For your information, here is the prices of petrol for West African countries in naira as at 7th June. PER LITER. (SAUCE)

Nigeria: 166 naira
Togo: 323 naira
Sierra Leone: 342 naira.
Benin : 384 naira
Chad : 396 naira...and chad produces oil.
Ghana: 448 naira
Ivory Coast: 468 naira
MALI: 511 naira.

If you click the source, you can find other prices in Naira

All those coutnries don't subsidise fuel...that's why they pay higher for fuel. And they are all, excpet prolly Chad, net importers of fuel like Nigeria is . Subsidy is why fuel is as low as N162-66 here.

FYI..I am not Yoruba, Hausa, Ibo,nor am I a muslim , [b]son.
And I never ever voted for Buhari and his geng in my life...and never will.[/b]
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Beancounter93(m): 3:06pm On Jun 11
Gokoyer0:
Methuselah, go and look for someone else to lecture. Btw, you dare not call me a son in real life no matter how old you are.
I left the dead country for una, make una continue supporting your devilish Buhari.

Loses argument...thus moves goalpost.
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Beancounter93(m): 3:07pm On Jun 11
Gokoyer0:
Methuselah, go and look for someone else to lecture. Btw, you dare not call me a son in real life no matter how old you are.
I left the dead country for una, make una continue supporting your devilish Buhari.

Loses argument...thus moves goalpost.

Plus you started it, you abused me with a bigoted and tribalistic comment. So, stop crying.
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Gokoyer0(m): 3:10pm On Jun 11
Back to sender, you shall cry, Yoruba muslim.
Beancounter93:


Loses argument...thus moves goalpost.

Plus you started it, you abused me with a bigoted and tribalistic comment. So, stop crying.

Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Beancounter93(m): 3:13pm On Jun 11
Gokoyer0:
...I will let birds fly over my head, but I won't let them build nests in my head....I also love to bear false witness. It is a bad habit. I will stop it.
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Gokoyer0(m): 3:20pm On Jun 11
.
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by WeRblessed(f): 4:26pm On Jun 11
All these borrowing!

Remember when my uncles will call my mom to lend them more money and she would ask them to show her what they did with the ones they earlier borrowed.
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by PetroDolla2020: 2:47pm On Jun 12
Tell me. I’ve been following the debate about fuel price deregulation in Nigeria. In Ghana, fuel prices are not only fully regulated but there are taxes on top, which makes the price prohibitive.

From where I sit, I see fuel pricing deregulation in Nigeria is inevitable because the government cannot cope with the current subsidy regime. Increased fuel prices will impact on everyday life in Nigeria, increasing inflationary pressures and impoverishing more Nigerians.

My question to you therefore is, can Nigerians cope with fully deregulated fuel prices? What will be the impact? Will it be the straw that finally breaks the camel’s back?

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 Beancounter93(m): 2:51pm On Jun 12
PetroDolla2020:
Tell me. I’ve been following the debate about fuel price deregulation in Nigeria. In Ghana, fuel prices are not only fully regulated but there are taxes on top, which makes the price prohibitive.

From where I sit, I see fuel pricing deregulation in Nigeria is inevitable because the government cannot cope with the current subsidy regime. Increased fuel prices will impact on everyday life in Nigeria, increasing inflationary pressures and impoverishing more Nigerians.

My question to you therefore is, can Nigerians cope with fully deregulated fuel prices? What will be the impact? Will it be the straw that finally breaks the camel’s back?


Nigerians might not be able to cope with the resultant price increases which is why the government's past and present keep the subsidy

But to be honest we cannot keep it up for long without going into more debt

So, even though this sounds evil and uncaring and Lord knows i hate saying it , subsidy has to go. Maybe the resulting investment would generate revenue for the country and more jobs. And things would improve.
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by PetroDolla2020: 3:04pm On Jun 12
I am closely following developments in Nigeria from Accra. I am well informed about Nigeria because I previously lived there for a long time. I have this feeling that Nigeria is like a keg of gunpowder at the moment. And that petrol deregulation could be the light that could explode the gunpowder.

Given all the many challenges, with insecurity, inflation, unemployment etc, do you think Nigerians can cope with full downstream deregulation?

In Ghana, a liter of petrol is probably around 400 Naira, and it is has created tensions even though people are now used to the impact of high petrol prices. But it’s not funny. Trust me.

Beancounter93:


Nigerians might not be able to cope with the resultant price increases which is why the government's past and present keep the subsidy

But to be honest we cannot keep it up for long without going into more debt

So, even though this sounds evil and uncaring and Lord knows i hate saying it , subsidy has to go. Maybe the resulting investment would generate revenue for the country and more jobs. And things would improve.
Re: Nigeria’s Total Public Debt Jumps By 15.64% To ₦33.107 Trillion – DMO by Beancounter93(m): 3:10pm On Jun 12
PetroDolla2020:
I am closely following developments in Nigeria from Accra. I am well informed about Nigeria because I previously lived there for a long time. I have this feeling that Nigeria is like a keg of gunpowder at the moment. And that petrol deregulation could be the light that could explode the gunpowder.

Given all the many challenges, with insecurity, inflation, unemployment etc, do you think Nigerians can cope with full downstream deregulation?

In Ghana, a liter of petrol is probably around 400 Naira, and it is has created tensions even though people are now used to the impact of high petrol prices. But it’s not funny. Trust me.


Well, we are getting into more debt and losing billions and trillions without deregulation.

It is the classic 'Between the devil and the deep blue sea' scenairo.

At least for me, deregulation offers the chance of new jobs and new savings.. and more investment, slight though it is. Continued subsidy means more and more debt, and more and more wasteage of money.

Like between 2010-16 mwe lost N6 trillion on subsidy, if not more. Money that could have been used for things like education. We spend N1.2 trillion annually on subsidy.Money that could have enrolled millions in our NHIS.

At some point, we have to start accepting that hard decisions have to be made. Even if we break up Nigeria...IMF is still going to divide the debt among the new countries....and the show will continue.

We did not do price control and subsides in our GSM sector. At the end of the day we got a lot of infrastructure built that supports our IT sector without government spending a penny.

Let the subsidy go. It is a risk we need to take to save our future from being more and more indebted. The crisis you fear may never even come.

(1) (2) (3) (Reply)

BREAKING!!! Rivers People Shuns Wike's Carol As Free Buses Left Empty (photos) / President Goofed Again At AU Meeting / Lagos’ll Soon Be Third Largest Africa’s Economy

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2021 Oluwaseun Osewa. All rights reserved. See How To Advertise. 176
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.