₦airaland Forum

larride:
I actually went back to the link you posted and I just realised the guy that made that statement was just looking for a banger headline. The facts don't align.

First, our debt profile is not a hidden document, it's open for anyone to see and scrutinize for themselves. Our total debt today is 159 trillion naira.

Secondly, Buhari handed over a total debt of 87 trillion naira to Tinubu. That's around $103 billion.

Thirdly, when Buhari was leaving office, he used Emefiele to pin the 25 trillion ways and means payment into public debt further increasing the domestic debt.

Fourth, Buhari left an external loan of $43.16 billion, as at today, our external loan is $51.86 billion which means this administration has borrowed $8.7billion which if you use today exchange rate is 11.9 trillion naira plus another 15.3 trillion on domestic debt which brings his total debt to 27.2 trillion naira

Fifth, the writer of that post was being deliberately mischievous using a base of 12 trillion debt which Jonathan left in office when Buhari already balloon the national debt to 87 trillion naira before he left.

Of course exchange rate is an important part of national debt, the debts that Jonathan and Buhari left that Tinubu is servicing now, he will still have to source the $$ in today's exchange rate.

To make it eve clearer for you, when Jonathan handed over to Buhari, the total national debt was $63 billion which in naira was 12 trillion naira that the mischievous man quoted. According to Okonjo Iweala, Jonathan only borrowed $21 billion out of this $63 billion debt.

When Buhari left office, the total national debt is $103 billion which is 87 trillion naira using the official exchange rate then. If you look at it critically, Buhari didn't borrow X2 of what Jonathan left but the naira equivalent is x7. Why is that? Because Buhari exchange rate at the end of his tenure is significantly higher than GEJ own.

If you keep going downward further, you'll notice the same pattern. 1 billion dollars under Obasanjo is not the same as 1 billion dollars under GEJ. Same way 1 billion dollars under Abacha is not the same as 1 billion dollars under Obasanjo

Time value of money, inflation and exchange rate all play a part.

Chief as a Nigerian Living in Nigeria, putting aside Party, Religious, Tribal bias do you think Tinubu deserve 2nd Term?

Yes or No
No dancing around
No sugarcoating
No turning of amala
Cc larride

Olowunl01:
Chief as a Nigerian Living in Nigeria, putting aside Party, Religious, Tribal bias do you think Tinubu deserve 2nd Term?

iamoyindamola:
Yes or No
No dancing around
No sugarcoating
No turning of amala
Cc larride

Yes, it’s his turn

larride:
I actually went back to the link you posted and I just realised the guy that made that statement was just looking for a banger headline. The facts don't align.

First, our debt profile is not a hidden document, it's open for anyone to see and scrutinize for themselves. Our total debt today is 159 trillion naira.

Secondly, Buhari handed over a total debt of 87 trillion naira to Tinubu. That's around $103 billion.

Thirdly, when Buhari was leaving office, he used Emefiele to pin the 25 trillion ways and means payment into public debt further increasing the domestic debt.

Fourth, Buhari left an external loan of $43.16 billion, as at today, our external loan is $51.86 billion which means this administration has borrowed $8.7billion which if you use today exchange rate is 11.9 trillion naira plus another 15.3 trillion on domestic debt which brings his total debt to 27.2 trillion naira

Fifth, the writer of that post was being deliberately mischievous using a base of 12 trillion debt which Jonathan left in office when Buhari already balloon the national debt to 87 trillion naira before he left.

Of course exchange rate is an important part of national debt, the debts that Jonathan and Buhari left that Tinubu is servicing now, he will still have to source the $$ in today's exchange rate.

To make it eve clearer for you, when Jonathan handed over to Buhari, the total national debt was $63 billion which in naira was 12 trillion naira that the mischievous man quoted. According to Okonjo Iweala, Jonathan only borrowed $21 billion out of this $63 billion debt.

When Buhari left office, the total national debt is $103 billion which is 87 trillion naira using the official exchange rate then. If you look at it critically, Buhari didn't borrow X2 of what Jonathan left but the naira equivalent is x7. Why is that? Because Buhari exchange rate at the end of his tenure is significantly higher than GEJ own.

If you keep going downward further, you'll notice the same pattern. 1 billion dollars under Obasanjo is not the same as 1 billion dollars under GEJ. Same way 1 billion dollars under Abacha is not the same as 1 billion dollars under Obasanjo

Time value of money, inflation and exchange rate all play a part.

All good and nice to account for dollar vs naira exchange rate disparity and purchasing power of the currency over time.

While still postulating that Buhari and APC government didn't massively accumulate unsustainable debt due to their poor economic policies, you failed to make the details very granular in assessment.

Naturally I'm not necessarily a fan of naira estimates of national budget and borrowings... I like seeing my own in dollars as it is an easier way to assess the power of the naira due to devaluation.

So, in dollar terms Buhari still borrowed a massive $40bn in his eight years, that's if you're agreeing that he increased debt to $103bn when he left from the $63bn he met.

It means Buhari was far more outpacing all the previous governments combined even in dollar terms. How many successive governments did it take to reach $63bn by Jonathan's end of tenure. But Buhari added a massive $40bn to it.

It means Buhari's debt is 63% of the total debt previous governments accumulated. In just 8 yrs.
Let's even say the debts started from PDP democratic governance of 16yrs.... Don't you see how damaging Buhari's record was?

Buhari and Tinubu are woeful in public debt management and there's no way to sugarcoat, whether you're using inflation or economic devaluation which their governments caused by the way and Buhari dishing us Nigeria's second recession ever recorded in our national history in 2016— even after he's the first to put us in recession in the 80s. 🤷🏽‍♂️

Una dey see say, failure is the middle name of Buhari.

obainojazz:
Yes, it’s his turn

Emil0kan

Olowunl01:
Chief as a Nigerian Living in Nigeria, putting aside Party, Religious, Tribal bias do you think Tinubu deserve 2nd Term?

Larride is actually one truthful homebased APC supporter. He have admitted several times here, Tinubus failures.

However, for the sake of APC, which he is a bonafide member, I believe his answer is YES!! .

Sowore Party's presidential primary election 🤡🤡🤡

Sowore’s party, the African Action Congress (AAC), begins its presidential primary election today in Abuja. pic.twitter.com/dBNj89pDlD

— CHUKS 🍥 (@ChuksEricE) May 26, 2026

My Daddy

izzou:
My Daddy

This is an indictment on democracy.

[quote author=BlueRayDick post=139525241]Sowore Party's presidential primary election 🤡🤡🤡

Sowore’s party, the African Action Congress (AAC), begins its presidential primary election today in Abuja. pic.twitter.com/dBNj89pDlD

— CHUKS 🍥 (@ChuksEricE) May 26, 2026

it's my eyes but are the party delegates covering their faces? Sowore na very funny guy

izzou:
My Daddy

The man should name WHO assured him ba

Maybe na guy wey dey famz Regina

Sowore has more credibility than Peter Obi sha.

If Tinubu wins the 2027 presidential election, no obidient should ever complain about APC again, and Peter Obi should forget about that presidency because he'll never smell it.

You know this man can't be unseated without everybody coming together and yet you keep scattering everything by going on your own. If he thinks he's too big to be VP to Atiku why not contest against him and win him in a primary? You can't win the guy but you want him to win and handover to you. Peter Obi is a traitor working for Tinubu.

CrystalTiger:
Maybe it's my eyes but are the party delegates covering their faces? Sowore na very funny guy

E come be like SUG election

Sowore's got jokes man.

TemporaryHansel:
Sowore has more credibility than Peter Obi sha.

If Tinubu wins the 2027 presidential election, no obidient should ever complain about APC again, and Peter Obi should forget about that presidency because he'll never smell it.

You know this man can't be unseated without everybody coming together and yet you keep scattering everything by going on your own. If he thinks he's too big to be VP to Atiku why not contest against him and win him in a primary? You can't win the guy but you want him to win and handover to you. Peter Obi is a traitor working for Tinubu.

Ahn Ahn

Obi again?

ADC has moved on without him, and even at that, the party has 2 presidential candidates already

Dumebi Kachikwu
Atiku/Amaechi

You are not even bothered about that. It is someone who has nothing anymore with your party crises you're blaming

izzou:
Ahn Ahn

Obi again?

ADC has moved on without him, and even at that, the party has 2 presidential candidates already

Dumebi Kachikwu
Atiku/Amaechi

You are not even bothered about that. It is someone who has nothing anymore with your party crises you're blaming

A vote for Peter Obi is a vote for Tinubu. I don't play emotional and childish politics like obidients . When will you guys wake up?

izzou:
Ahn Ahn

Obi again?

ADC has moved on without him, and even at that, the party has 2 presidential candidates already

Dumebi Kachikwu
Atiku/Amaechi

You are not even bothered about that. It is someone who has nothing anymore with your party crises you're blaming

U get time to dey try reason with person wey get obsession with Obi sha.

If he sleep dey see masquarade for dream sef, na Obi surely dey under the masqurade.

BlueRayDick:
U get time to dey try reason with person wey get obsession with Obi sha.

If he sleep dey see masquarade for dream sef, na Obi surely dey under the masqurade.

Me? You must be mistaking me for Raumdeuter.

TemporaryHansel:
Me? You must be mistaking me for Raumdeuter.

Na so!

BlueRayDick:
1.Why do you think each government including Tinubu's always celebrate when the naira gains against the dollar in the foreign exchange market?

2. When FG claims governors now have as much as x3 of previous FAAC allocations under Tinubu's government, are they referring to Naira or dollars?

1. If I remembered correctly, I once posted here that Tinubu and Cardoso are intentionally keeping the exchange rate at that 1300 - 1400 range to enable them actually fund the budget. Personally I feel a stronger naira means cheaper dollars and that's why they celebrate it.

2. It's in terms of Naira equivalent, the dollar equivalent is most likely the same or even lesser. It's also why I don't parrot that nonsense anymore because when you factor in the increase in price of most goods and services due to the exchange rate, you will see it cancel out wherever increase in FAAC allocation that they get.

Olowunl01:
Chief as a Nigerian Living in Nigeria, putting aside Party, Religious, Tribal bias do you think Tinubu deserve 2nd Term?

No.

TemporaryHansel:
A vote for Peter Obi is a vote for Tinubu. I don't play emotional and childish politics like obidients . When will you guys wake up?

What of a vote for Dumebi Kachikwu?

Emaprince:
Larride is actually one truthful homebased APC supporter. He have admitted several times here, Tinubus failures.

However, for the sake of APC, which he is a bonafide member, I believe his answer is YES!! .

I actually won't be voting or campaigning for anybody next year.

Make all of them get out.

BlueRayDick:
U get time to dey try reason with person wey get obsession with Obi sha.

If he sleep dey see masquarade for dream sef, na Obi surely dey under the masqurade.

I was listening to Jimi Disu some weeks back when Obi went to NDC.

Jimi said that even though he doesn't know whether Obi will fix Nigeria or not, he is now convinced that Nigerian politicians don't want him to contest. They keep dragging him, even though other contestants are there

They roasted him for dodging primaries in ADC even when it was untrue. Now, the same ADC cannot even organize its own primaries. Two factions with two different results, and Obi isn't even there.

The same APC insulting him about primaries have conducted their own; Inflated and false figures everywhere. So the purpose of the primary was never about transparency.

The man has left all of them, yet they won't let him rest.

Na here I see say Donald Duke and Makinde go pull votes. Nobody dey drag them for contesting. Nobody is dragging Amaechi and Jonathan. It's only one person that is the problem.

larride:
1. If I remembered correctly, I once posted here that Tinubu and Cardoso are intentionally keeping the exchange rate at that 1300 - 1400 range to enable them actually fund the budget. Personally I feel a stronger naira means cheaper dollars and that's why they celebrate it.

2. It's in terms of Naira equivalent, the dollar equivalent is most likely the same or even lesser. It's also why I don't parrot that nonsense anymore because when you factor in the increase in price of most goods and services due to the exchange rate, you will see it cancel out wherever increase in FAAC allocation that they get.

Thank you

izzou:
I was listening to Jimi Disu some weeks back when Obi went to NDC.

Jimi said that even though he doesn't know whether Obi will fix Nigeria or not, he is now convinced that Nigerian politicians don't want him to contest. They keep dragging him, even though other contestants are there

They roasted him for dodging primaries in ADC even when it was untrue. Now, the same ADC cannot even organize its own primaries. Two factions with two different results, and Obi isn't even there.

The same APC insulting him about primaries have conducted their own; Inflated and false figures everywhere. So the purpose of the primary was never about transparency.

The man has left all of them, yet they won't let him rest.

Na here I see say Donald Duke and Makinde go pull votes. Nobody dey drag them for contesting. Nobody is dragging Amaechi and Jonathan. It's only one person that is the problem.

That's why I say u must really have time to try reasoning with someone like Elder who is clearly disillusioned and obsessed with Obi.

He somehow thinks Obi is a threat to Atiku's life long ambition of becoming the president of this country. The only thing that will pacify him is for Obi to accept to be Atiku's vice and somehow use "juju" to command his supporters to cast their vote for Atiku who has been rejected by the electorate since 1992/93 general elections.

He never has problem with other southern candidates who have chosen to distance themselves from Atiku the unsellable product.

BlueRayDick:
That's why I say u must really have time to try reasoning with someone like Elder who is clearly disillusioned and obsessed with Obi.

He somehow thinks Obi is a threat to Atiku's life long ambition of becoming the president of this country. The only thing that will pacify him is for Obi to accept to be Atiku's vice and somehow use "juju" to command his supporters to cast their vote for Atiku who has been rejected by the electorate since 1992/93 general elections.

He never has problem with other southern candidates who have chosen to distance themselves from Atiku the unsellable product.

I watched an interview yesterday where they asked Amaechi if he would be vice to Atiku.

He said the interviewer should never ask that kind of insulting question again

larride:
1. If I remembered correctly, I once posted here that Tinubu and Cardoso are intentionally keeping the exchange rate at that 1300 - 1400 range to enable them actually fund the budget. Personally I feel a stronger naira means cheaper dollars and that's why they celebrate it.

2. It's in terms of Naira equivalent, the dollar equivalent is most likely the same or even lesser. It's also why I don't parrot that nonsense anymore because when you factor in the increase in price of most goods and services due to the exchange rate, you will see it cancel out wherever increase in FAAC allocation that they get.

Your honesty is well appreciated 🙏

Despite keeping the Dollar at 1300 - 1400, we still read of how they struggle to fund the budget with paltry 36 million was the fund released to ministry of health under 2025 budget out of ₦218billion budgeted for capital allocation.

You would agree with every well meaning Nigerian that Buhari's government was the worst thing that ever happened to this country. Then Tinubu's administration taking over from Buhari hasn't really done better like most pro-Tinubu pseudo analysts want us to believe.

I just don't like it when start muddling waters to make it seem like the country was in ruins before APC took over. No it wasn't! We were expecting something better, not worse like it has gotten in the past 11 years and counting.

izzou:
I watched an interview yesterday where they asked Amaechi if he would be vice to Atiku.

He said the interviewer should never ask that kind of insulting question again

😂

If Obi talk same thing now, dem go use one full month to tell us how Obi Wan scatter opposition by being too egocentric thinking he's too big to be Atiku's VP

BlueRayDick:
😂

If Obi talk same thing now, dem go use one full month to tell us how Obi Wan scatter opposition by being too egocentric thinking he's too big to be Atiku's VP

Exactly

Na why Uncle Jimi believe say there's something else apart from what they want us to believe

The other day on Arise, they asked Bwala about the situation on the APC primaries. He answered, and then began to mention how Obi was unserious to be a president.

The same ADC that cursed him for leaving, cannot even conduct a primary (transparent or not).

Na Obi still be the problem

Many Nigerians lack discipline in billing

For my grandmums funeral, I had gone round all her children and grandchildren abroad and gathered contributions which covered almost all expenses, tagged it as contribution from "her children and grandchildren" covering everyone so those less well-off are covered. . . . while other extended family members, friends and adopted children put their own contribution to the point contributions exceeded budget by a few million.

Because list of contributors is published in extended family WhatsApp group, one of my uncle I have already covered under our contribution went to put in N250k so his name can be published separately from "children and grandchildren", now just couple weeks later his family are billing me for feeding money. I had to be very abrupt with them and give them a piece of my mind.

BlueRayDick:
Your honesty is well appreciated 🙏

Despite keeping the Dollar at 1300 - 1400, we still read of how they struggle to fund the budget with paltry 36 million was the fund released to ministry of health under 2025 budget out of ₦218billion budgeted for capital allocation.

You would agree with every well meaning Nigerian that Buhari's government was the worst thing that ever happened to this country. Then Tinubu's administration taking over from Buhari hasn't really done better like most pro-Tinubu pseudo analysts want us to believe.

I just don't like it when start muddling waters to make it seem like the country was in ruins before APC took over. No it wasn't! We were expecting something better, not worse like it has gotten in the past 11 years and counting.

I think trying to do all reforms at once is the Achilles heel of this administration. It just doesn't make sense that you keep pushing people more into poverty in the name of reform.

The annoying thing is even the slow pace they are going about it as if people's lives is not at stake.

larride:
No.

Thank you. The problem now is Tinubu is most likely going to get 2nd Term not due to good performance but mainly due to lack strong alternative largely due to opposition (Atiku) not coalencing to single sellable southern candidate (Obi) just like the North did for Buhari becos for me another northerner after 8yrs of Buhari is a no-no.