The administration of President Muhammadu Buhari will be leaving behind a debt of N77 trillion.
It will be made up of N44.06 trillion total debt stock as of the third quarter of 2022, N22.7 trillion Ways and Means borrowed from the Central Bank of Nigeria (CBN), projected new borrowings of N10.57 captured in the 2023 budget and issuance of promissory notes.

Director General of the Debt Management Office (DMO), Ms Patience Oniha, projected that this administration will be bequeathing a total national debt stock of about N77 trillion.

The DMO chief spoke at the “Public Presentation and Breakdown of the Highlights of the 2023 Appropriation Act” in Abuja on Wednesday.

Oniha argued that if the National Assembly approves the securitisation of the N22.7 trillion Ways and Means debt secured from the CBN, the figure included in the public debt.


“You will see a significant increase in public debt to N77 trillion that is if you add the new borrowing depending on market conditions of N5 trillion.

“The other area of the debt stock we are trying to highlight is to say, the debt stock is also growing from the issuance of promissory notes which are not true borrowing as such by the government”.

She added: “While the debt is growing because there is new borrowing, revenue is receiving significant attention.

“Like DMO always says, you can’t talk about debt without talking about revenue. We need the two to work together.”


Defending the President’s request to the National Assembly to approve the securitisation of the N22.7 trillion Ways and Means borrowed from the CBN, Ms Oniha said that it “would significantly reduce the cost of servicing the loan”.

Source: https://thenationonlineng.net/Nigerias-debt-to-hit-N77tr-by-May

All thanks to Bubu

I remember the days back in Obasanjo's administration when many people were shouting that Nigeria's 30 billion Dollar debt, which was probably not up to 5 trillion Naira at the time, was too much

Now Nigeria's debt is heading towards 80 trillion Naira

Incredible

adenigga:
The administration of President Muhammadu Buhari will be leaving behind a debt of N77 trillion.
It will be made up of N44.06 trillion total debt stock as of the third quarter of 2022, N22.7 trillion Ways and Means borrowed from the Central Bank of Nigeria (CBN), projected new borrowings of N10.57 captured in the 2023 budget and issuance of promissory notes.

Director General of the Debt Management Office (DMO), Ms Patience Oniha, projected that this administration will be bequeathing a total national debt stock of about N77 trillion.

The DMO chief spoke at the “Public Presentation and Breakdown of the Highlights of the 2023 Appropriation Act” in Abuja on Wednesday.

Oniha argued that if the National Assembly approves the securitisation of the N22.7 trillion Ways and Means debt secured from the CBN, the figure included in the public debt.


“You will see a significant increase in public debt to N77 trillion that is if you add the new borrowing depending on market conditions of N5 trillion.

“The other area of the debt stock we are trying to highlight is to say, the debt stock is also growing from the issuance of promissory notes which are not true borrowing as such by the government”.

She added: “While the debt is growing because there is new borrowing, revenue is receiving significant attention.

“Like DMO always says, you can’t talk about debt without talking about revenue. We need the two to work together.”


Defending the President’s request to the National Assembly to approve the securitisation of the N22.7 trillion Ways and Means borrowed from the CBN, Ms Oniha said that it “would significantly reduce the cost of servicing the loan”.


Source: https://thenationonlineng.net/Nigerias-debt-to-hit-N77tr-by-May

Always borrowing

Do they even feel and think of making payment to set a boost?




Contact me for your academic assignment, articles,, research works,,, thesis. WhatsApp Me..

Each person both home and aboard will be oweing 350k. Money wey i no chop.

Pls remove sentiments and work on the GUDAJI'S committee, convert the money,pay the debts and let's have some ease...We have had enough of frustrations and deprivations

Ooshey, àgbà debtor

All hail bubu and apc

If una vote tinubu after 8 years e fit reach 77 zillion.

A new Nigeria is possible. Vote Obi/Datti

The UN should have a recognition for the World's Most Useless President.

No doubt, Buhari will be winning it back to back.

Oh yes, we love it. Let’s vote APC so that they can keep borrowing and sharing the money amongst themselves while we continue getting killed by bandits and terrorist.

APC 2023 until Nigerians get sense.

So far the only thing that have improved in Nigeria is Buhari's health...that's the hustle Thiefnibu is all about.

Do urself some service, Google Lagos State debt profile before Thiefnibu and compare it with Lagos debt profile as at today. You won't need anybody to convince you to vote right.

Help save Nigeria, Vote President Obi

If you voted for APC in 2015, you can be forgiven because we all thought they will transform the country. If after what we all witness in Bubu's first tenor you still went ahead to vote for him, you will die a painful death

COCKROACHES LIVE IN SHITHOLE SINCE 1960 YOU HAVE TO CONTINUE PUSHING YOUR CRIMINAL BROTHER TO THE FRONTLINE BECAUSE YOU BENEFIT FROM HIS CRIMINALS ACTIVITY � OGUN OKO OYA FINISHED YOU IF YOU VOTE APC GOVERNMENT IN COMING ELECTION

Anyone supporting APC is indeed heartless

Nigeria is finished..
That's why a reasonable human being cant vote for APC

Bastards bands of super looters criminal have mortgaged this nation into financial slavery

Let it continue hitting, we will live and leave the world someday and life stop there while lives continue...

Tinubu our incoming president will have no other option than to impose tax on us and also increase tax just like the way Lagos is run. He may not like to go to d direction of borrowing because of cost of servicing loan ..Where Tinubu won see money to develop Nigeria.. watch has things goes up

What da fvck

Impregnable101:
If you voted for APC in 2015, you can be forgiven because we all thought they will transform the country. If after what we all witness in Bubu's first tenor you still went ahead to vote for him, you will die a painful death

I have a problem with excusing those who voted Buhari in 2015 but that's a matter for another day. What about those still whitewashing Buhari and apc today in order to vote back apc in February nkọ? What part of hell will be reserved for them?

All courtesy to montparnasse

may we not have from bubu to bala blue

symbianDON:
Anyone supporting APC is indeed heartless

Not only Nigerians are viewing this thread, agents are hired to pretend they are Nigerians the

clinician2x:


The only thing u type on this forum is obi this tinubu that. Is that all you live for?

Is monitoring me all you live for?

AkpaMgbor:

Demons in human form, it's not a surprise anyway, even lucifer the fallen Angel still has followers. Ghenghis Khan, Hitler, stalin, idi amin, Osama bin laden and even shekau of Boko Haram all had many followers and supporters. So be proud, you child of perdition.

Your soul is already lost, you'll never see anything good, so obvious. I pity those who will ever depend on you , they're doomed.