Second least? And things are like this in Nigeria? Wow!

Propaganda, do not believe anything from this government ,

I can assure you by the time Tinubu is done with Nigeria, Nigeria will be the most indebted country in Africa

SadiqBabaSani:
Propaganda, do not believe anything from this government ,

I can assure you by the time Tinubu is done with Nigeria, Nigeria will be the most indebted country in Africa

The report says it is not. I know this doesn't go with the doom and gloom narrative of the enemies of Nigeria.
Rather than call it propaganda present your own data to refute it.

Great news,if it's actually true.Gradually we shall soon get there. BAT's efforts are not in vain after all.

This is pure lie and propaganda. The reality on ground does not tally commensurately with this report.

Apc should add this to their achievements and progress

Foooools

Nigerians are just happy to have TINUBU as president , bitter Obidients will soon invade this thread with insults and lies

ElSudani:


The report says it is not. I know this doesn't go with the doom and gloom narrative of the enemies of Nigeria.
Rather than call it propaganda present your own data to refute it.

Nigeria has always had a good debt-to-GDP ratio. Our issue has always been our low tax(revenue) to GDP ratio. that is, we cannot pay for our debt.

Kemi Adeosun tried to implement a Voluntary Assets and Income Declaration Scheme (VAIDS) to increase the revenue generated by the government. this would have reduced the imports thus reducing the pressure on the Naira.

Nigeria's economy can be divided in two, the rich and everyone else. Both halves need to pay an equitable share of taxes. Tinubu's removal of subsidies without raising additional taxes targeted at the rich imposed a larger proportion of economic pain on everyone else. Tinubu like Buhari, chose to protect the rich to the detriment of every other Nigerian.

Nigerians need to support the Labour Congress. The suffering within the country is too much.

Onyiiobi7735:

You are a sick animal foaming at the mouth.

I believe you are referring to your father

Low debts with increased inflation

Debt-to-GDP is not a good metric . In fact it a wicked measure IMF use to push countries into debt trap.

The right metric to use is Debt to Revenue

You do not repay loans with GDP, you repay loans with revenues

Your GDP is the total value of your productivity, while your revenue is your income. If your work for a company and your total productivity is N10 million but your salary is only N1million, you can’t borrow based on N10 million, you can only borrow based on your salary.

SadiqBabaSani:
Propaganda, do not believe anything from this government ,

I can assure you by the time Tinubu is done with Nigeria, Nigeria will be the most indebted country in Africa

it's actually true. Why do you think they're quick to approve loans for us?

The problem is that the rate we're guzzling loans and what we spend them on are not fiscally prudent. Imagine collecting loans to build rail lines and kidnappers make the route too risky that we need police and helicopter escort to operate it.

We need to invest in power, education, SME to enable us grow our citizens wealth

This is just an invitation for Nigeria to 'come borrow more'

Toh

Gdp to debt ratio. The tactics imf uses to encourage Nigeria to take more loans then use 96% of its revenue to service the loan. Imf should use revenue to debt ratio, let check something

Racoon:
This is pure lie and propaganda. The reality on ground does not tally commensurately with this report.

You're a seriously sick person.

Honestly, you need help.

TinubuThief:
I believe you are referring to your father

Of course I am referring to your useless vagabond father.

This government needs to ignore these enslavers and try to work with what we have. A country with such population should not be borrowing for everything. We can’t afford to be wasteful anymore.

Waiting for 30k monthly keyboard warriors to praise one of their keyboard propaganda achievement

The Nigerian government needs to earn more. How can the government earn more? Taxes.

Nigerians do not want to pay taxes

IMF propaganda to give us fake hope after giving bad advise to Tinubu about subsidy that has put us in a big mess

Propaganda by tinupoo the drug sniffing bastard 😂😀

Ok

Propaganda no dey run government.

PepeXKermit:
Propaganda no dey run government.

If the news says Nigeria is 2nd most indebted, what would have been your comment?

Exactly

nedu666:
Gdp to debt ratio. The tactics imf uses to encourage Nigeria to take more loans then use 96% of its revenue to service the loan. Imf should use revenue to debt ratio, let check something

While it is tempting to celebrate Nigeria's relatively low debt-to-GDP ratio of 41.3% as a testament to prudent financial management and economic stability, we must critically examine the broader context and avoid falling prey to government propaganda that often distracts from more significant issues. This pattern of overhyping modest achievements, unfortunately, obscures deeper systemic problems and reflects a troubling reliance on superficial metrics to paint an overly optimistic picture of economic health.

First, it's essential to understand that the debt-to-GDP ratio is just one of many indicators of a country's financial well-being. While a lower ratio can suggest economic stability, it does not automatically equate to overall economic prosperity or effective governance. For instance, Nigeria's external debt stood at a staggering $41.59 billion (N31.98 trillion) as of December 2023. Despite the favorable debt-to-GDP ratio, this figure represents a significant financial burden that the government often downplays.

Moreover, Nigeria's total debt is approximately N97.34 trillion, according to the Debt Management Office (DMO). This figure, when considered alongside other economic indicators such as inflation, unemployment, and poverty rates, paints a more comprehensive and less rosy picture of the country's economic health. Celebrating a low debt-to-GDP ratio without addressing these critical issues is misleading and fails to provide a complete understanding of Nigeria's economic challenges.

This tactic of highlighting mediocre achievements to distract from broader failures is not new. In the past, the government has celebrated minor improvements in literacy rates or the addition of a few kilometers of roads while ignoring the crumbling infrastructure and inadequate educational facilities. Such selective reporting serves as a distraction from the government's overall poor performance in critical areas that directly impact the quality of life of its citizens.

For instance, the government previously touted a slight increase in literacy rates as a significant achievement, despite the increase being a negligible 0.2%. Similarly, the addition of a few dozen kilometers of new roadways was heralded as a major success, even as the existing road network remained in disrepair, contributing to severe traffic congestion and hampering economic activities.

The celebration of Nigeria's debt-to-GDP ratio in isolation follows this familiar pattern. It is essential to hold the government accountable for providing a holistic view of the country's economic status rather than relying on selective statistics that offer a skewed perspective. While debt management is undoubtedly important, it must be seen in conjunction with other economic factors to provide a true picture of the nation's financial health.

While Nigeria's debt-to-GDP ratio may be commendable at face value, it is crucial to approach such figures with a critical eye and demand transparency and comprehensive reporting from the government. Only then can we move beyond propaganda and truly assess the country's economic standing and address the underlying issues that hinder sustainable development and prosperity.