Will this do reduce the price of foodstuffs in the market?

Hmmm! That means the whole Africa is neck deep in debt.

As it is, our next four generations are already the properties of WB and IMF with China taking over thereafter.

Every country is indebted in a way but what are we doing with the humongous sums we borrow regularly?

Emilokan rodents should henceforth cease to blame Nigeria economic woes on Buhari's loans. It is now clear that Tinubu is the problem.

Better than killing one's blood cuz of hunger like it happens in ur east

TinubuThief:

Apc should add this to their achievements and progress

Foooools

What is the agenda of IMF for Nigeria. Is it to destroy the country or what. Upon the money this country is borrowing on monthly basis, IMF is giving a revelation that will make Tinubu to borrow the world bank dry

Our debt to GDP ratio is no doubt quite good. Debt repayment to Revenue ratio is however the better measure of fiscal discipline. This ratio has come down from 96% a couple of years ago to less than 80% today. Good progress but too slow. We need to get that ratio down to less than 30%.

How do we do that? A few options;
1. Widen tax net to increase tax to GDP ratio from about 7% now to about 20-30%

2. Increase revenue through other means like improved oil & gas income, improved productivity, increased export revenues etc

3. Renegotiate our loan tenor terms to spread farther into the future and reduce repayment burden

4. Seek for debt cancellation or forgiveness

Options 1 is the easiest to do if govt puts its mind to it. Option 2 lies with the fiscal authorities and they need to start showing workings here. Options 3 & 4 are more difficult though doable. In reality, a combination of options should be explored. It depends on the seriousness of our govt.

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.

Please what is the meaning of enemies of Nigeria you people keep using here?

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.

Can we divide it by population and see where we are at on the per capita debt ranking

Smartcitizen:
Please what is the meaning of enemies of Nigeria you people keep using here?

They are mixing up and equating Nigeria with the A-looter Poverty Confusionists, APC.

What can they do for their own deliverance from the confused state

PrinceofSarcasm:
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.

Good analysis and I wish those supporting Tinubu and those supporting Obi blindly can learn to make educative analysis rather than being abusive.

Onyiiobi7735:
Great news,if it's actually true.Gradually we shall soon get there.
BAT's efforts are not in vain after all.

Where else is BATeria infection leading us apart from the land of more extreme poverty, hunger, unemployment, inflation insecurity ati beebee lo

prophetfire:
. You guys really don't have an education.
It doesn't mean that Nigeria is least indebted in the real sense of it. It talking of debt to GDP ratio. DEBT TO GDP RATIO ISN'T TALKING OF THE AMOUNT OF MONEY OWED. IT'S TALKING OF AMOUNT IN RELATION TO GROSS DOMESTIC PRODUCT.
Nigeria is heavily indebted still. But when compared to the gross domestic product and population, it's not one of the highest. Even though our population and GDP are ruse.
However, this is a propaganda to keep us in delusion. The country is in a mess and IMF is deceiving Tinubu and Nigerians and urging Tinubu to borrow more.
For your info, IMF is the one running Nigeria and holding Tinubu by the balls and that's why Tinubu is taking all this draconian economic decisions without minding if Nigerians are going to die off.

You are obviously the one who is confused about what is being said. Who doesn't know the report was talking about debt to GDP ratio?
U.S, Canada etc have trillions in debt does that mean these countries are about to collapse as some of you ignorantly say about Nigeria?

PrinceofSarcasm:
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[b] inflation, unemployment, and poverty rates, paints a more comprehensive and less rosy picture of the country's economic health.[/b] 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.

Thank you sir.

Let those ho have ears hear and those who have eyes see that a few bright spots on the plantain may not be a sign of ripening but a sign of rotting.

kingsways:
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.

Is Nigeria working for the IMF? This your argumenteee
When productivity of a country is high, it is expected that the revenue will be high also

Super story,

Only gullible mind's are deceived

Another banga

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

Lump skull is IMF the government.
If the same IMF comes out to say Nigeria is the second poorest country in African you will believe
Your hatred for our dear country would never stop us from prigressing.
Demons from the east

mytime24:
Waiting for 30k monthly keyboard warriors to praise one of their keyboard propaganda achievement

As if u are richer than those u called 30k keyboard warriors.

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

We are no5 concerned about the reality of your pocket and bank account.

We are talkinh about the reality of the country.
Your poverty is your headache

BeeBeeOoh:


https://www.pulse.ng/news/imf-ranks-nigeria-2nd-least-indebted-country-in-africa/b59llyc

Good to know.

it’s from imf and not the government .

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

Tinubu is doing the wishes of IMF and USA…so they are covering up for him.

He has their support full time.

IMF always support corrupt leaders against their countries. No be today

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.

Go to the streets and see the real data na. Not paper work

How can they compare us with those countries?

BeeBeeOoh:


https://www.pulse.ng/news/imf-ranks-nigeria-2nd-least-indebted-country-in-africa/b59llyc

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

You wouldn't believe this because you have been ranting on political news that could advance your LP or PDP nonsense,since Tinubu came to Power! Thank God you can't bribe the World Bank or the IMF!
Anything bad is good to report on Nigeria,by your clique but anything good is a distrust.
Is that the way the World is made?
Most of you on this Nairaland Forum should show us your Patriotism in a small way!

BeeBeeOoh:


https://www.pulse.ng/news/imf-ranks-nigeria-2nd-least-indebted-country-in-africa/b59llyc

IMF is up to something with all these wicked encouragement.

Let assume it otherwise you will be masturbating on it as the only thing you and other enemies of Nigeria want to hear is bad news.

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

Tianamen1:


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.

Let me tell you the truth, any taxes targeted at the rich will sooner than later also target everyone else. And by that time, the rich have figured out how to evade or transfer these taxes to the poor. Read Richard kiyosaki's books, and also other authors who write about making wealth, to get an insight.

If the government wants to modify the tax net, it should find a way to do it while increasing value, instead of doing it via rich class and poor class. Cos history has proven that the rich always come out winning, while the poor who supported those taxes because it's targeted at the rich who they hate, end up getting the short end of the stick

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

You will not go and spend time focusing on your state government, you and the Almijiris want to be dragging your Daddy Bola Tinubu?

bluefilm:


As if this useless piece of trashy news will add any Kobo to your account?

Nonsense

Tchewww

This IMF is wicked....they want to finish nigeria kpata kpata....just to encourage govt to borrow more.....wahala