*How PMB/APC Government put Nigeria in perpetual debt and they think APC will win 2023 election*

https://www.premiumtimesng.com/regional/nwest/544216-nigeria-broke-as-debt-payment-exceeds-revenue.html

*SERIOUSLY SPEAKING :*

Nigeria is sinking to bankruptcy by 2026. And only presidential candidates with disposition and competence to re-engineer of economy without corruption and padding could rescue this nation from the brink of collapse of the Naira, inability to pay salaries and contracts, recession and retrenchment should be sought for at this critical time.

I do not think people realize how important 2023 is. That is why it seems very few are focusing on issues that matter. *What a pity.*

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 9n your Tokurbo car.

Get the picture?
This 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.
God bless you Kindly as you respond this Clarion call !
https://www.premiumtimesng.com/regional/nwest/544216-nigeria-broke-as-debt-payment-exceeds-revenue.html.

Na Obidient husband we go give kpekus!

Cc.Mod.lala fp


It's pains me so much when people have forgotten so soon what has happened in last 8years and are queuing behind one man who has been embarking on medical torism even before the election commerces, the same sign and symptoms of Buhari prior to 2015.


Some are even rallying for the man on medical care without even hearing his manifesto.

How can sane people be scammed several times

And they want us to continue with APC
Never affliction can never get us the second time

Apc and buhari pratically killed the country.still they want us to vote in another one. Please vote peter obi come 2023

Nigerians currency is the worst not only in the world but even in Africa as at today.

What will APC tell you again to make you believe them and vote for them?.

Everything, I mean everything has been destroyed and bastardized by them. THINK MY FELLOW NIGERIANS

Quodseverismete:

*How PMB/APC Government put Nigeria in perpetual debt and they think APC will win 2023 election*

https://www.premiumtimesng.com/regional/nwest/544216-nigeria-broke-as-debt-payment-exceeds-revenue.html

*SERIOUSLY SPEAKING :*

Nigeria is sinking to bankruptcy by 2026. And only presidential candidates with disposition and competence to re-engineer of economy without corruption and padding could rescue this nation from the brink of collapse of the Naira, inability to pay salaries and contracts, recession and retrenchment should be sought for at this critical time.

I do not think people realize how important 2023 is. That is why it seems very few are focusing on issues that matter. *What a pity.*

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 9n your Tokurbo car.

Get the picture?
This 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.
God bless you Kindly as you respond this Clarion call !
https://www.premiumtimesng.com/regional/nwest/544216-nigeria-broke-as-debt-payment-exceeds-revenue.html.

The debt servicing in Nigeria is undoubtedly alarming but the analysis is completely wrong and doesn't reflect the current reality.

In a report released titled “FIRS 2021 Performance Update,” the agency said the total revenue of N6.405 trillion in both oil (N2.008 trillion) and non-oil (N4.396 trillion) revenues surpassed its target of N6.401 trillion for the year.
In the report, FIRS said it collected N1.896 trillion as companies income tax, petroleum profit tax (N2.008 trillion) and value-added tax (VAT) at N2.07 trillion in 2021.

Nigeria's debt-to-GDP Ratio is 34.98% in 2022. Debt-to-GDP ratios above 77% can hinder economic growth and (in some cases) place a country at risk of defaulting on its debts, which could wreak havoc on its economy and financial markets.
Top 12 Countries with the Highest Debt-to-GDP Ratios (%)

1. Venezuela — 350%
2. Japan — 266%
3. Sudan — 259%
4. Greece — 206%
5. Lebanon — 172%
6. Cabo Verde — 157%
7. Italy — 156%
8. Libya — 155%
9. Portugal — 134%
10. Singapore — 131%
11. Bahrain — 128%
12. United States — 128%
https://worldpopulationreview.com/country-rankings/debt-to-gdp-ratio-by-country


What countries have the largest debt in the world? Here is a list of the top ten countries with the most national debt:

1. Japan (National Debt: ¥1,028 trillion ($9.087 trillion USD))
2. Greece (National Debt: €332.6 billion ($379 billion US))
3. Portugal (National Debt: €232 billion ($264 billion US))
4. Italy (National Debt: €2.17 trillion ($2.48 trillion US))
5. Bhutan (National Debt: $2.33 billion (USD))
6. Cyprus (National Debt: €18.95 billion ($21.64 billion USD))
7. Belgium (National Debt: €399.5 billion ($456.18 billion USD))
8. United States of America (National Debt: $19.23 trillion (USD))
9. Spain (National Debt: €1.09 trillion ($1.24 USD))
10. Singapore (National Debt: $350 billion ($254 billion US))
Japan, with its population of 127,185,332, has the highest national debt in the world at 234.18% of its GDP, followed by Greece at 181.78%. Japan's national debt currently sits at ¥1,028 trillion ($9.087 trillion USD). After the stock market crashed in Japan, the government bailed out banks and insurance companies and provided them with low-interest credit. Banking institutions had to be consolidated and nationalized after a period of time and other fiscal stimulus initiatives were used to help reboot the struggling economy. Unfortunately, these actions caused Japan’s debt level to skyrocket.

Domestic debt in Nigeria: Lagos, Delta, Ogun, Rivers lead as States borrowed N5.28trillion
https://dailypost.ng/2022/10/03/domestic-debt-lagos-delta-ogun-rivers-lead-as-states-borrow-n5-28trillion/

Agbadorain bastard will sell corn on the road for children of light to buy next year.

That is where their corn work stop with handfan and charcoal

Thank Op, broken down in a way the person on the street can understand.
Strangely people who should know are busy selling a 3 tyre molue to us for a trip to space. Unfortunately, the political class are not living upto expectation, majority of them are selling us a cub of corn means of sustainance for 4 years, after 8 years of starvation. Telling us that somebody who is ready to cultivate hecters of land to sustain us beyond 4 years is not good enough to feed us. That accepting a cub of corn for 4 years is the best to happen to a malnourished nation.