This is scary

Hear What MR PETER OBI Analysed

I do not think people realize how important 2023 is.
Let me explain
Last year Nigeria made:
₦970.3 Billion from oil
₦1.6 Trillion from non-oil taxes [More revenue from this than oil]
₦2.8 Trillion from a cumulative of other sources.
In total the country brought in ₦5.5 Trillion in revenue
Then it gets really crazy from here.

Out of that ₦5.5 Trillion revenue, ₦4.2 Trillion was spent on servicing (repaying) debts from January to November.
So what is left after paying debts is ₦1.3 Trillion.
Which, as a matter of fact; means that what is left after repaying what we owe is not enough to run the country…
…because in the 2021 national budget, the nation needs to run on a total of ₦13.57 Trillion.
So since we just have ₦1.3 trillion left, an extra ₦12.27 trillion is needed.

Where do we get it?
Yes, you guessed right - we borrow.
In 2021 Nigeria spent ₦12.56 trillion - most of which were borrowed money spent on things that do not bring money back (salary, fuel subsidy, LOOTING, etc).
So if Nigeria was a man who makes ₦100k a month, he borrows ₦5 million every month to pay for light bill, and running of the house.
See the picture now?
Scary, isn’t it?
The excess Crude oil account (which is like our savings) is almost empty.

So not only does this man borrows like a crazy person, he has no SAVINGS for emergencies (like if his boss decides not to pay salary).
Anyways, the finance minister thinks we are doing alright. That what we have is a revenue problem - and not a debt problem & if we make more we will be alright (this is why they are taxing everything)
Of course, she could be lying.
…but she maybe right too.
The rule is we should NEVER borrow more than 40% of our GDP.
We are at 36.9%
3.2% more and all the alarm bell goes off.
Now - imagine if our revenue keeps dropping, and the debt keeps increasing. And one day - voom - 3.2% crossed!

Then we will really have a debt problem.
Since we currently borrow to pay salary, when the alarm goes off - further borrowing is a disaster:
The Government will struggle to pay salary.
(Which is scary considering that the Government is the biggest employer of labour in Nigeria)
More Taxes will be imposed to raise money, Including tax of Goods which will increase the prices you pay on Foreign rice for example.
Our currency will get futher devalued.
Which means things will get even more expensive in the market.

This is the state of the nation…YET…
…the politicians still loot and take home fat salary.
Imagine if we get the wrong President in 2023, who will not get these things fixed.
Imagine the disaster if we push over that 3.2%
If you think politics does not affect you, then maybe you do NOT see the full picture.

Which is why i laugh at people who ignorantly say - ‘’I am not interested in politics’’
Well, guess what it? It is interested in you.
The person who becomes the President will affect the price of your bag of rice…
…your cynlinder of gas

It affects whether or not it is safe to drive from Kaduna to Abuja or fly…
…or whether you need to pay 7.2% or 20% VAT on your Facebook ads.
It affects whether you keep selling on your Instagram page or whether Instagram gets banned in the country OUT of the blues.
It affects the shipping fee you pay on your Tokunbo car.
Get the picture?

This is NOT the time to be tribalistic. Or want a President from any part of Nigeria. It is a time for THE RIGHT ONE.
You really need to get involved. In any little way you can. Even if to get PVC, try go vote. If your Vote does not count they won't be chasing people away at polling stations.

Go get you PVC

Ironically Peter Obi was a 2 terms Governor of failed Anambras state and an economic adviser to Goodluck Jonathan

He is equally part of the Roth but very terrible human trying hard to act hypocritically saint


Tinubu left Government in 2007 , Peter Obi left Government in 2015.... Yet Peter Obi had zero Economic impact on Anambra or Nigeria

This is what Charles Soludo said about the fruad

https://www.vanguardngr.com/2015/01/buhari-vs-jonathan-beyond-election-charles-soludo/


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solmusdesigns:





Ironically Peter Obi was a 2 terms Governor of failed Anambras state and an economic adviser to Goodluck Jonathan

He is equally part of the Roth but very terrible human trying hard to act hypocritically saint


Tinubu left Government in 2007 , Peter Obi left Government in 2015.... Yet Peter Obi had zero Economic impact on Anambra or Nigeria



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lies

IgbalodeRaymond:
lies

By Professor Charles Soludo




One of those present took the satire to some level by comparing Jonathan to the ‘performance’ of the former Governor of Anambra, Peter Obi. He noted that while Obi gloated about ‘savings’, there is no signature project to remember his regime except that his regime took the first position among all states in Nigeria in the democratization of poverty—- mass impoverishment of the people of Anambra. According to the National Bureau of Statistics, poverty rose under his watch in Anambra from 20% in 2004 (lowest in Nigeria then) to 68% in 2010 (a 238% deterioration!).

Our friend likened it to a father who had no idea of what to do with his resources and was celebrating his fat bank account while his children were dying of kwashiorkor. He pointed out that since it is the likes of Peter Obi who are the advisers to Jonathan on how to manage the economy (thereby confusing micromanagement which you do as a trader with macro governance) it is little wonder that poverty is fast becoming another name for Nigeria. It was a very hilarious evening.

https://www.vanguardngr.com/2015/01/buhari-vs-jonathan-beyond-election-charles-soludo/



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Nice topic but trust me it's not making front page

This man must not be forgiven for this ignoble role he played in destroying out economy through propaganda

If APC and PDP are not good, therefore, let us vote for Sowore rather than voting for Mr Pandora. Tinubu and Atiku names didn't appear in Pandora paper neither did we hear that they use their children name to acquire properties outside Nigeria like Mr. Saint Peter Obi