Mmm

Read the comments here and you know why a lot of people are jobless

Over 60% of total revenue is used to service loans...!

Mind you... Servicing is not the same as repayment o!

Yet they are taking more loans.

Nigeria is gone!!!

Rodimi20000000:
Nigeria needs patience. Tinubu has done a perfect job so far

Deceive yourself....

eliyke:
Nawa ooo,which day we go hear good news for dis country like dis?

You are illiterate. You are reading a super good news but you don't understand what they are saying.

Literacy is not only to read and write, to read and comprehend is the main thing.

So many people are commenting without knowing what they are commenting about. I call them educated Illiterate.

Good news to the citizens even though it's hard now, we hope for the best.

nairalanda1:
SO, our debt servicing has reduced a bit.



Last comment reminds me why I ended up first supporting fuel subsidy removal totally. If a partial removal of subsidy could achieve the above result in the last paragraph (and during GEJ's regime, his partial removal of subsidy generated a large amount of revenue for government...which was one of the many reasons why I stopped opposing subisidy removal) imagine what a full subsidy removal would do.

Even then, 66.3% of revenue going to debt service...yeah. The effect of low oil prices and by extension failure to diversify, and failure to improve tax to gdp ratio drastically over the last 10 years. Especially since 2015. (IN 2015, Osibanjo came and delievered a lovely speech where he stated that they would diversify. RIght now, oil still forms most of our revenue..80%)

Good news, yeah, but work remains to be done. Anyway, I don't think APC is interested in economic diversification, plus NIgerian politicans, when forced to choose between economics and political survival, always choose the later.

EIther way, NIgeria needs to earn more and more money

Modifed

A simple way of looking at this is that Tinubu has used the money from subsides, and from keeping the naira strong to reduce the proportion of money we spend on debt service.

You are absolutely right. Most Nairalanders are illiterates when it comes to the Nigerian economic word. Most Obidients run their mouths as if others don't know what they are doing. The economy of Nigeria has been decaying systematically from the military era.
Something drastic has to be done to revamp it. It is unfortunate to be now. Somehow, it has to be done someday.

shiwex:
Emi Lokan, Emi Lokan.......see as you messed the whole country up. I don't blame the man , I blame ignorant Nigerians tht decide an 80 year old man is the one that should come and lead the country.



We living abroad can see where all these will end. We told you ..Obi was your man..you all dey shout Na Yoruba turn. I am a Yoruba man and will never have voted for an old, corrupt man like Tinubu.

I do not pity all those that are suffering, they had the chance to change their future but they decided to enslave themselves to APC.[b][/b]

Do you read and understand before commenting. Debit servicing to revenue ratio reduce from 92% to 66%. That's a good news for the country.

The Canadian colos sniffing baron dey Paris dey enjoy! Wetin concern me

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MightySparrow:



You are absolutely right. Most Nairalanders are illiterates when it comes to the Nigerian economic word. Most Obidients run their mouths as if others don't know what they are doing. The economy of Nigeria has been decaying systematically from the military era.
Something drastic has to be done to revamp it. It is unfortunate to be now. Somehow, it has to be done someday.

It has been decaying from independence.

The problem with our economy in my opinion (corruption aside, which is a serious issue mind you)..is that our economy is based on the price of whatever we are selling. IN the 1960's it was agric and solid minerals...then from the 1970's oil took over and remained our main source of income.

Problem is, we do not set the prices. ANd the solutuion is that we use what we have to make things the world can use.

Tinubu has really not done much. WHat he has done is had his hand forced by the fact that at the start of his regime, debt service was eating up most of the avaialble revenue, once subsides for petrol and the dollar had been paid. He had to cut subsides (he has not removed subsides) to get more money. Yes, nice...like IMF even suggested.

But lipstick on a pig does not make it a beautiful woman. (It may improve the pig's looks a bit, but it is still a pig).

At the end, we still are not earning enough money, and cutting subsides can only go so far. APC , Tinubu's party promised that diversification would happen when they took over in 2015. At the end, they did not diversify, and TInubu has not yet outlined how he would diversify the economy. Then there is the low revenue from tax. Improving both things means harsh economic polices for the next decade...and APC wants to win elections...so at the end, they won't take the hard decisions needed.

We have to earn more money, and we can do that by being a exporter of manufactured goods and servicies, having a decent tax income and also having a proper anti-corruption effort, and cutting government costs.

Nigeria devalues the naira in bid to attract foreign investors

Make una no try am ooo.

Call baba borrow borrow who borrowed all the money.

If I hear more tax on the citizens. Thunder from Yaba left go locate una.

RapportNaija:
Almost 70% of revenue to service debt...

No be failure be this?

Why's APC still a political party in Nigeria? These devilish people should've been banished from the face of earth.

What country do we want to leave for our kids if you people destroy everything today? Ehn!

God save us oh!

Where were you when it was 95%?

Now that Tinubu has pushed it down to 63% you're talking.

muykem:
Do you read and understand before commenting. Debit servicing to revenue ratio reduce from 92% to 66%. That's a good news for the country.

The fact that he had to.cut subsides to do it is also bad news in a way as it shows that the government does not have enough money.

eliyke:
Nawa ooo,which day we go hear good news for dis country like dis?

It is good news o.

shiwex:
Emi Lokan, Emi Lokan.......see as you messed the whole country up. I don't blame the man , I blame ignorant Nigerians tht decide an 80 year old man is the one that should come and lead the country.



We living abroad can see where all these will end. We told you ..Obi was your man..you all dey shout Na Yoruba turn. I am a Yoruba man and will never have voted for an old, corrupt man like Tinubu.

I do not pity all those that are suffering, they had the chance to change their future but they decided to enslave themselves to APC.[b][/b]

Nigeria needs patience. Tinubu has done a perfect job so far.
Your love for Peter Obi doesn't stand any chance he would do more than this.
Democracy is a game of numbers not by the tribe.
Tinubu till 2032.

shiwex:
Emi Lokan, Emi Lokan.......see as you messed the whole country up. I don't blame the man , I blame ignorant Nigerians tht decide an 80 year old man is the one that should come and lead the countryy...[b][/b]

This is actually a positive development.

I'll try to explain:

The Debt-to-Revenue (D-t-R) ratio is a financial metric to gauge our ability to service debt from the income generated (revenue).

For example, using naira as the denomination:
Debt = N9.9m
Revenue = N10m
D-t-R = 9.9/10 = 0.99 = 99%

Now, Nigeria has either reduced its debt (scenario 1) or increased its revenue (scenario 2) to give us something like:

Scenario 1
Debt = N6.6m
Revenue = N10m
D-t-R = 6.6/10 = 0.66 = 66%

or

Scenario 2
Debt = 9.9m
Revenue = 15m
D-t-R ratio = 9.9/15 = 0.66 = 66%

Therefore, a debt service-to-revenue ratio of 66% is better than 99%.

shiwex:
Emi Lokan, Emi Lokan.......see as you messed the whole country up. I don't blame the man , I blame ignorant Nigerians tht decide an 80 year old man is the one that should come and lead the country.



We living abroad can see where all these will end. We told you ..Obi was your man..you all dey shout Na Yoruba turn. I am a Yoruba man and will never have voted for an old, corrupt man like Tinubu.

I do not pity all those that are suffering, they had the chance to change their future but they decided to enslave themselves to APC.[b][/b]

Do you even understand the narrative? If you do please explain because I thought this was good news

bfn1:

This is actually a positive development.

I'll try to explain:

The Debt-to-Revenue (D-t-R) ratio is a financial metric to gauge our ability to service debt from the income generated (revenue).

For example, using naira as the denomination:
Debt = N9.9m
Revenue = N10m
D-t-R = 9.9/10 = 0.99 = 99%

Now, Nigeria has either reduced its debt (scenario 1) or increased its revenue (scenario 2) to give us something like:

Scenario 1
Debt = N6.6m
Revenue = N10m
D-t-R = 6.6/10 = 0.66 = 66%

or

Scenario 2
Debt = 9.9m
Revenue = 15m
D-t-R ratio = 9.9/15 = 0.66 = 66%

Therefore, a debt service-to-revenue ratio of 66% is better than 99%.

Thanks for the explanation

nairalanda1:


It has been decaying from independence.

The problem with our economy in my opinion (corruption aside, which is a serious issue mind you)..is that our economy is based on the price of whatever we are selling. IN the 1960's it was agric and solid minerals...then from the 1970's oil took over and remained our main source of income.

Problem is, we do not set the prices. ANd the solutuion is that we use what we have to make things the world can use.

Tinubu has really not done much. WHat he has done is had his hand forced by the fact that at the start of his regime, debt service was eating up most of the avaialble revenue, once subsides for petrol and the dollar had been paid. He had to cut subsides (he has not removed subsides) to get more money. Yes, nice...like IMF even suggested.

But lipstick on a pig does not make it a beautiful woman. (It may improve the pig's looks a bit, but it is still a pig).

At the end, we still are not earning enough money, and cutting subsides can only go so far. APC , Tinubu's party promised that diversification would happen when they took over in 2015. At the end, they did not diversify, and TInubu has not yet outlined how he would diversify the economy. Then there is the low revenue from tax. Improving both things means harsh economic polices for the next decade...and APC wants to win elections...so at the end, they won't take the hard decisions needed.

We have to earn more money, and we can do that by being a exporter of manufactured goods and servicies, having a decent tax income and also having a proper anti-corruption effort, and cutting government costs.

Your piece is nice and factual but can do with more realism. Things have been pretty bad. The first step when you are in a hole is to stop digging. A big ship takes energy and effort to change course. There are different phases along the recovery path. Questions need to be asked about what targets and what timelines are we working towards to double or triple our tax to GDP ratio, double or triple our oil and gas production, take our power generation and consumption to 50GW, reduce our import dependence by 50% etc etc. We will crawl, walk then run...it takes a disciplined process

eliyke:
Nawa ooo,which day we go hear good news for dis country like dis?

This is actually a good news if you understand the news

Slurity:
This is actually a good news if you understand the news

wait till dollar add again 2morro,good news wey no dey ever reflect on d masses

nairalanda1:


It has been decaying from independence.

The problem with our economy in my opinion (corruption aside, which is a serious issue mind you)..is that our economy is based on the price of whatever we are selling. IN the 1960's it was agric and solid minerals...then from the 1970's oil took over and remained our main source of income.

Problem is, we do not set the prices. ANd the solutuion is that we use what we have to make things the world can use.

Tinubu has really not done much. WHat he has done is had his hand forced by the fact that at the start of his regime, debt service was eating up most of the avaialble revenue, once subsides for petrol and the dollar had been paid. He had to cut subsides (he has not removed subsides) to get more money. Yes, nice...like IMF even suggested.

But lipstick on a pig does not make it a beautiful woman. (It may improve the pig's looks a bit, but it is still a pig).

At the end, we still are not earning enough money, and cutting subsides can only go so far. APC , Tinubu's party promised that diversification would happen when they took over in 2015. At the end, they did not diversify, and TInubu has not yet outlined how he would diversify the economy. Then there is the low revenue from tax. Improving both things means harsh economic polices for the next decade...and APC wants to win elections...so at the end, they won't take the hard decisions needed.

We have to earn more money, and we can do that by being a exporter of manufactured goods and servicies, having a decent tax income and also having a proper anti-corruption effort, and cutting government costs.

When will you contest for presidency? Your comments are always on point

Omo... See comment section. I just dey laugh. Here is why I can't be replying people on this app and even on Twitter sef. Sense no just dey at all. All the post is saying is that we are currently suffering to pay for all the debts in previous administration. And the suffering go still continue. Good luck to everyone

@Eazzzy1 you have said it all. Many don't even know the meaning of what they are saying.
Worst of human for me is that who is educated but still an illiterate. How on earth will someone see this and still not know that it's good news? Or maybe they didn't read it sha

shiwex:
Emi Lokan, Emi Lokan.......see as you messed the whole country up. I don't blame the man , I blame ignorant Nigerians tht decide an 80 year old man is the one that should come and lead the country.



We living abroad can see where all these will end. We told you ..Obi was your man..you all dey shout Na Yoruba turn. I am a Yoruba man and will never have voted for an old, corrupt man like Tinubu.

I do not pity all those that are suffering, they had the chance to change their future but they decided to enslave themselves to APC.[b][/b]

oponu debt servicing was 92% during buhari regime have now reduced to 66% isn't this a good news

Bobloco:


Even if we continue to scream "Ebi n pa wa o" from today till next four years

We must team them a political lesson

Exactly.

Love the way you break it down...

nairalanda1:
SO, our debt servicing has reduced a bit.



Last comment reminds me why I ended up first supporting fuel subsidy removal totally. If a partial removal of subsidy could achieve the above result in the last paragraph (and during GEJ's regime, his partial removal of subsidy generated a large amount of revenue for government...which was one of the many reasons why I stopped opposing subisidy removal) imagine what a full subsidy removal would do.

Even then, 66.3% of revenue going to debt service...yeah. The effect of low oil prices and by extension failure to diversify, and failure to improve tax to gdp ratio drastically over the last 10 years. Especially since 2015. (IN 2015, Osibanjo came and delievered a lovely speech where he stated that they would diversify. RIght now, oil still forms most of our revenue..80%)

Good news, yeah, but work remains to be done. Anyway, I don't think APC is interested in economic diversification, plus NIgerian politicans, when forced to choose between economics and political survival, always choose the later.

EIther way, NIgeria needs to earn more and more money

Modifed

A simple way of looking at this is that Tinubu has used the money from subsides, and from keeping the naira strong to reduce the proportion of money we spend on debt service.

Nice one BAT. This is why some of us believed in you.
Over to FIRS guy and Taiwo Oyedele. That figure must go below 50%.
Rev-to-GDP of 18%
Stable (not necessarily low) exchange rate
Ramp up oil &gas production
Fix Electricity (Remove all subsidy & liberalize)
Fix security.&inflation
These are absolutely doable!
2024 will be sweet.