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Servicing Debt With 90% Revenue Path To Destruction — Tinubu - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Servicing Debt With 90% Revenue Path To Destruction — Tinubu (10785 Views)

Tinubu: I Won’t Sustain Failed Theory Of Servicing Debt With Scarce Revenue / Science Ministry Settled N2m Debt With N17m Vehicles – Senate / Osun State Flirts With Insolvency, Spends 91% Of FAAC Servicing Debt In Q1(pics) (2) (3) (4)

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Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by olril17(m): 11:40am On Aug 28, 2023
adenigga:



Source: https://punchng.com/Servicing-debt-with-90%-revenue-path-to-destruction-Tinubu
Mumu oshi
Election thief🤮
Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by israelmao(m): 11:40am On Aug 28, 2023
When Tinubu said,It's not about you and I but the next generation.Should one generation go hungry or die for the emergence of another generation?What are the quick and mitigating measures being taken now for the citizens who are most hit by the present economy to stay afloat?
Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by wittywriter: 11:42am On Aug 28, 2023
But no destruction as to humongous cabinet expenses.
All this is to device another tactics for taxation.


Wittyness
Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by BJanta: 11:42am On Aug 28, 2023
KanwuliaExtra:
What an ijjjiot!
Fake accountant.

Yet you keep borrowing and bribing your way through life and death!

Your judiciary and legislative bribing nko?

Why don’t you tell the BUHARIDIOTS and DANGOLEEE to return all they stole?

The election is over. Take it easy,at this rate you're going , you'll soon take your life.

4 Likes

Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by KanwuliaExtra: 11:43am On Aug 28, 2023
BJanta:


The election is over. Take it easy,at this rate you're going , you'll soon take your life.

Oh no!
Not till we finish with the supreme court.
Please, enjoy the 'wailing'.

I SAY: WE MOOOOOOOOOOOOOOOOOOOOOVE!!!! grin

We go draaaaaaaaaaaaaaaaaaag am reassssssssssh supreme court!
Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by themanderon: 11:43am On Aug 28, 2023
The funny thing is that you cannot see anything the money was used for and now the people are made to pay. All those that have contributed in one way or another to the rot this country has become deserve places in the hottest parts of hell.
Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by wakaman: 11:45am On Aug 28, 2023
Makes sense.

Carry on.
Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by Bfly: 11:45am On Aug 28, 2023
Nigeria should just stop borrowing bad debt.
Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by onuman: 11:46am On Aug 28, 2023
AntiChristian:
BAT- May your enemies never succeed!

May the enemy of Nigeria never succeed!


BAT is currently the number one enemy of Nigeria.
He should not have formed the alliance of APC which brought Nigeria to become the poverty capital of the world.
He should not have declared it's his turn to become president of Nigeria. It's not his turn.
He should not have accepted INEC's throw away of the Electoral Act of 2022 to use APIAM way to make Tinubu be president-elect.


Knowing full well that he has criminal records, BAT should have avoided the contest for presidential election.


Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by nairalanda1(m): 11:52am On Aug 28, 2023
Brendaniel:




Oga, go and do your analysis properly, when we say senate, it means lower and upper house, staff members both political and career, constituency projects and so on all for the purpose of legislation that can be per time, read the link there, you guys argue anyhow, that's 2.1 trillion in 2020

/

Actually that report you linked to was a proposed bill .It had passed its second reading as at the time of the report..but it looks like it was not passed. (There is a big reason why, and it is viral).

Also, this is the actual budget for the NA in 2023: 228.1 billion naira. Not trillion, billion.
2021 it was around 134 billion naira.

They aren't spending trillions yet.

3 Likes

Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by CodeTemplar: 11:57am On Aug 28, 2023
Nonsense talk. What was the loan used to do? If it was used carelessly go after the thieves who put you there or STFU Mr President.
Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by lexy2014: 11:57am On Aug 28, 2023
Ibrahimcoomasie:
That's why subsidy had to be squashed.

But Tinubu has been "sharing" palliatives. Is palliatives not subsisdy?
Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by jegaxe(m): 11:58am On Aug 28, 2023
I pray Nigeria works for all
Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by mutumina007: 11:59am On Aug 28, 2023
Does Killing Nigerien Babies Bring Glory To Our Name? Femi Fani-kayode Cries Out
https://www.nairaland.com/7819386/does-killing-nigerien-babies-bring
Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by nairalanda1(m): 11:59am On Aug 28, 2023
Just for the jols....a big reason why we take too many loans

1.Corruption, corruption, corruption

2.Oil prices are never favorable for us. Most of the time, the oil price is always below our set fiscal breakeven. To account for the difference, we have to take loans.(That's why I am not fond of this APC government, the precceding PDP government and even the army government. One source of income always is not a nice way to base your economy on).

As an example, in 2020, our fiscal breakeven was above 130 dollars per barrel. Thanks to covid, oil was below 50 dollars per barrel. That's why we had to borrow. If we did not borrow, we starved. Simple.

And for those GEJ haters who will come and shout that GEJ borrowed....despite having high oil prices...in 2012, our fiscal breakeven was around 122 dollars per barrel, and oil prices were averaging 108 per barrel. The deficit had to be filled...and it was loans (which is why GEJ wanted to remove subsidy then. Money not enough.).

3.Subsidies.

One thing Nigerians miss from the subsidy removal....if Tinubu had said that subsides would remain....the prices of oil would have been rising still, but government would have been paying the difference....so that means in 2-3 months, with subsidy in place, cost of subsidy would have risen thrice.

That means more money has to be spent...and most of the time, it is from other sectors of the budget.

At the end of the day, the government has a deficit...and that deficit is filled in by...LOANS.

And it has been happening over and over and over again since the 1970's....


Solution

We have to export manufactured goods...whose prices WE can set. Not tinubunomics, buharinonmica, obinomics, atikunomics......manufactruring and capitalisim would save us.

(And enable us socialists in government rake in enough cash for welfare projects and subsides....hehehe. So you thought I was a fat cat capitalist, eh?)

2 Likes

Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by spiSeyi: 11:59am On Aug 28, 2023
Had not been PMB is a forerunner for the APC PBAT would have jailed him, PBAT is deeply regretting in his mind for supporting PMB for the presidency. Bubu does a lot of damage to the economy beyond what an ordinary man can handle. Just imagine paying 9k debt monthly out of 10k income grin . The only viable solution is for PBAT to get all the refineries working, stabilize power generation and facilitate massive agricultural inputs and outputs because history have it that our currency was stronger when we had all our refinery working till the early '90s
Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by bionixs: 12:01pm On Aug 28, 2023
ORIENTATION101:
Tinubu have not borrowed any money yet.
but he supported it .
Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by FireUpNow(m): 12:02pm On Aug 28, 2023
OgaTheTop2:
How can a shady man rule a country like Nigeria? No be juju be that?

He no go better for INEC... Tueh!
What about 🌽 eating republic?
Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by lexy2014: 12:02pm On Aug 28, 2023
Pakute:
90% revenue for debt servicing, 77trillion naira debts, $3billion foreign reserves, a depleted ECA, yet some akpu heads want subsidy to continue, enemies of the state dem.

Tinubu has been giving out palliatives. Is palliatives not subsidy?

What did nigeria gain from the Subsidy removed from kerosene diesel?

What was wrong with sustaining fuel subsisdy?

What has been gained from it's removal and how has it's removal positively impacted the lives of nigerians?

The welfare of Nigerias political leaders at all levels is highly subsidised. Why is that subsidy still sustained?

Who depleted the ECA?

Who brought nigeria to point of using 90% of revenue for debt servicing?
Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by nairalanda1(m): 12:03pm On Aug 28, 2023
Pakute:
Senate gulps over a trillion every year?. The lies they told you over a cup of mkpurummiri.

You did not need to respond to the guy with abuse, you know.

Anyway, you are correct about the spending. Senate doesn't even gulp up to one trillion (God knows I used to think they did.). At best, 0.2 trillion...or 200 billion. At best.

2 Likes 1 Share

Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by bionixs: 12:04pm On Aug 28, 2023
So the old man now has come to realize that “ na statistics we go chop”

Magas were laughing hard , when he jeered PO with , “ na statistics we go chop ? “
Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by AntiChristian: 12:05pm On Aug 28, 2023
onuman:



BAT is currently the number one enemy of Nigeria.
He should not have formed the alliance of APC which brought Nigeria to become the poverty capital of the world.
He should not have declared it's his turn to become president of Nigeria. It's not his turn.
He should not have accepted INEC's throw away of the Electoral Act of 2022 to use APIAM way to make Tinubu be president-elect.


Knowing full well that he has criminal records, BAT should have avoided the contest for presidential election.



All these won't be the case had it been your preferred candidate won!

Keep wailing!

1 Like

Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by yewit37486: 12:05pm On Aug 28, 2023
nairalanda1:


You did not need to respond to the guy with abuse, you know.

Anyway, you are correct about the spending. Senate doesn't even gulp up to one trillion (God knows I used to think they did.). At best, 0.2 trillion...or 200 billion. At best.

That's still a lot of money for such a small number of people...
Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by livenija: 12:05pm On Aug 28, 2023
Ibrahimcoomasie:
That's why subsidy had to be squashed.
explain both
Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by Essence20(m): 12:06pm On Aug 28, 2023
Address it, that's why you're there. Clueless president.
Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by Abudu2000(m): 12:06pm On Aug 28, 2023
But he fought GEJ for removing the same subsidy and taking the same bold step. Ebola the mandate thief
Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by nairalanda1(m): 12:07pm On Aug 28, 2023
yewit37486:


That's still a lot of money for such a small number of people...

Exactly, and I am not fond of the thing...though to be honest, some senators do spend their money on sensible things. (One senator for example...now late...funded a scholarship for students going to university from his district who were resident in the district self. Some fund road projects and so forth.).

But even then, it is a lot of money.

1 Like

Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by onuman: 12:09pm On Aug 28, 2023
AntiChristian:


All these won't be the case had it been your preferred candidate won!

Keep wailing!


I have nothing personal against BAT, but I can never support a person once associated with drug trafficking offences as president of Nigeria.
I can never support someone with dubious academic records as president of Nigeria.
Your choice is influenced by ethno-religious bigotry.
Re: Servicing Debt With 90% Revenue Path To Destruction — Tinubu by tollyboy5(m): 12:11pm On Aug 28, 2023
Pakute:
90% revenue for debt servicing, 77trillion naira debts, $3billion foreign reserves, a depleted ECA, yet some akpu heads want subsidy to continue, enemies of the state dem.
When buhari took loan to finance white elephant project instead of dissolving our electricity challenge even if that would be his major achievement for eight years, you supported the whole white elephant project and now we're in debt.

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