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Nairaland Forum / Nairaland / General / Politics / Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% (10396 Views)
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Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by Emyval2019: 9:58am On May 16, 2022 |
That's so bad of country that wants to survive . |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by Macphenson: 9:59am On May 16, 2022 |
okoo |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by pappilo(m): 9:59am On May 16, 2022 |
Fake |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by monex(m): 10:00am On May 16, 2022 |
Mynd44: that accounts for only one factor, low revenue. There is the other factor of high debt servicing which could be accounted for by high cost of debt (debt interest rates) or excessive borrowing 1 Like 1 Share |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by chloride6: 10:00am On May 16, 2022 |
We don't have a debt problem, we have a revenue problem. This FG is terribly unpopular and as such cannot do the right thing. |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by Rawtruth1: 10:01am On May 16, 2022 |
That's why we need Peter Obi. He is an economist and knows what to do to build this country up 2 Likes |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by Graceman444: 10:02am On May 16, 2022 |
Huh |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by obaaderemi: 10:02am On May 16, 2022 |
Bigchristo:Did you read the article? South Africa's debt profile is far higher. |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by Cognitivereason: 10:02am On May 16, 2022 |
The problem is that we have insufficient revenues.. If the 4 trillion ($8bn) used for fuel subsidy is added to our actual revenue...then debt servicing rate will be reduced significantly even though the amounts we spend to service debts remains the same .. Our taxes are relatively lower than SA 1 Like |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by slowice(m): 10:03am On May 16, 2022 |
Wow.... And after reading this some deluded tribalists will still not vote with sense. Nigeria need a president that investors can trust, a president that the world can trust and ve faith in else it would be another circle of hardship, frustration and purposelessness 1 Like |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by RepoMan007: 10:03am On May 16, 2022 |
Any attempt to condemn debt will be met with reply of USA also being indebted. Is USA like us now? |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by pongwa(m): 10:04am On May 16, 2022 |
Ademola47:las las na war go scatter this country cos we are at the tipping point. No wonder People are obtaining passports and jetting out. Every sensible people out there should never vote for recycled politicians if you want this entity to remain sovereign. I don talk my own 2 Likes |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by Llyodsjids(m): 10:06am On May 16, 2022 |
Nigeria's current debt figure should have been under control if only the revenue generation was optimal and we had more capable people and not these dimwits as leaders. But one thing for sure is that it can be solved and things can get easier IF and only IF we get it right at next year's polls, cause these ones obviously have nothing to offer 1 Like |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by Blazebond(m): 10:06am On May 16, 2022 |
A chronic debtor never ends well. |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by Bidphil(m): 10:08am On May 16, 2022 |
Ademola47: It seems as though Nigerian politicians believe Nigeria will get another debt forgiveness or they don't just care. Because how can you be servicing debt with 85.5% of your income. Servicing not even paying back 3 Likes |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by henryutd(m): 10:08am On May 16, 2022 |
Good explanation. It takes a visionary leader to get out this mess. An educated and selfless leader can correct this anomalies. Nigeria will die one day |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by henryutd(m): 10:12am On May 16, 2022 |
An average Nigeria will do all within his power to evade tax payment. |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by Yadid(m): 10:12am On May 16, 2022 |
Buhari is governing this country with secondary school economics intelligence. |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by loswhite(m): 10:15am On May 16, 2022 |
Mynd44:What about the cost of Governance? Do they have politicians on bogus salaries and allowances ? Do they have politicians that loot the entire constituents funds ? How can we be talking about increasing tax next without focusing on reducing cost of Governance? 1 Like |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by onuman: 10:15am On May 16, 2022 |
ObosiLandlord:Instead, Buhari was borrowing to build standard gauge rail lines to Niger Republic to enable people from Niger Republic to troop into Nigeria to occpy Nigeria. If Buhari had done all those borrowing to fix electricity problems in Nigeria, |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by AiooAi: 10:17am On May 16, 2022 |
salbis:Do you think the country should be renamed Ratsgeria 1 Like |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by lebete3000: 10:22am On May 16, 2022 |
Ademola47: So Naija get all these debts and them colonize us, yet some stupid loan applications no go gree me rest. Abeg Mae dey flenjure dey go jarey... |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by basty: 10:23am On May 16, 2022 |
It shall not be well with PDP under Jonathan and APC under Buhari. |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by miketayo(m): 10:33am On May 16, 2022 |
JosephXavier: They are not servicing any debt, give them 3x what they owe to clear the debt and we will still be owing. US and China owes way more than us but are doing way better. |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by miketayo(m): 10:35am On May 16, 2022 |
ObosiLandlord: Nigeria is a wealthy nation with bad governance. US and UK owe more than we do, I m sure even SA has more debt. Those guys are not servicing any debt |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by VULCAN(m): 10:36am On May 16, 2022 |
I see So it's not because Buhari has borrowed more in 7 yrs than Nigeria borrowed between '85 when he was thrown out and 2015 when he came in. That's 30yrs mind you. Perhaps you aren't the right person to respond to this matter. I come in peace Mynd44: 1 Like |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by Bigchristo: 10:37am On May 16, 2022 |
obaaderemi:Do you mind if I show you both countries debts profile? Nigeria is owing more than SA |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by Dreamhighnow(m): 10:40am On May 16, 2022 |
Mynd44: Did they block the holes when borrowing and were the fund used on reasonable project like 24 hours electricity, health equipments |
Re: Nigeria Spends 86% Of Revenue On Debt Servicing, South Africa Pays 20% by gennny: 10:41am On May 16, 2022 |
Mynd44: Not really, it's a deliberate, to count down borrowing to avoid our situation. |
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