₦airaland Forum

GEJDHERO:
Olodo Kobo Kobo the bottomline is that Nigerias external debt is about N24.5 trillion . Buhari has finished this country.

ajl:
When you throw numbers around without presenting the details people get confused. Often when one talk of Nigeria debt stock they often think of only total external debt, not both external and domestic. It's good you showed the table that states each debt category.

The question is what was Nigeria debt profile before Jonathan became president (April 2011). One can the compare to the debt stock at June 2015 and the current number. I actually have the numbers but will have look for the Excel file. I use to download the data from website of the debt mgt office. I will look for it and the chart, and will post here.

GEJDHERO:
Olodo kobo kobo .... just like your Master Buhari.See what am talking about below
Nigeria's debt profile rises to $81.27 billion in the first quarter of 2019


Nigeria's debt profile rose by 2.3% to $81.27 billion (N24.947 trillion) as at March 2019, according to the Debt Management Office (DMO) data seen by Business Insider SSA.

In its Q1 public data report released on Wednesday, the Debt Management Office said the figure represents N560 billion increase in the total public debt from $79.437 billion recorded in December 2018.

According to the DMO, domestic debt recorded N458.363 billion increase across federal, states and federal capital territory while external debt increased by N101.6 billion during the same period.

Patience Oniha, Director-general, Debt Management Office (DMO), reiterated that the “total public debt to GDP ratio stands at 19.03% which is within the 25% debt limit imposed by the government.”

Foreign Debt level

FGN + States & FCT only - $25.61 billion
Domestic debt level

FG debt level - $42.72 billion
State and FCT - $12.94 billion
Source: Pulse Nigeria
#DEBT MANAGEMENT OFFICE #NIGERIA'S DEBT PROFILE #NIGERIA'S DEBT IN 2019

bindukwe:
The figure quoted might be wrong but the warning he gave is fair.

Its common sense not to use debts to service other debts.
You will be accruing unreasonable interests.

Isolating his mistake seems like an agenda on your part to make the warning look out of place.

I could be wrong, but its hard not to come to that conclusion.

BigTosine:
Ebora owu got it right are states not part of the Nigeria federation? If you sum up figures together our debt is around $83B. PMB and APC have borrowed the future of our future generations.

weyreypey:
Was OBJ talking about June? Don't be useless.

GEJDHERO:
You are the Olodo here. Google it b4 u start sphewing rubbish.

ibechris:
Any sane person here arguing with these Buhari followers will soon look like a fool.

Buhari followers don't like reading facts,they are as dumb as the same Buhari.

In one of Amaechi's leaked videos,he said Buhari just signed anything on his table,does he even read.

So,leave these element of backwardness to their fate.

GEJDHERO:
My friend Zombie Google is your friend ooo.Nigerias external debt is $81.2bn about N24.5 trillion

ohameakpu:
External debt at $27b and domestic debt at $56b is crazy. With intention to still borrow $30b.

The problem is not collecting debt cos every country needs it to grow but our Challenge is Revenue. Most of these loans would still end up in peoples pockets.

My concern is not that Obj miss quoted the figure, but how do we intend to pay them.

Staro:
Oga, stop fooling yourself.
Obasanjo talked about Nigeria's debt profile, I listened to him.

As usual, it is one of Buhari Zombie journalist that is trying to twist the narrative.

.

Staro:
You said 22b?
Oga, you're lost.
I didn't know all Zombies reason like their president

See below

According to the Debt Management Office, Nigeria’s external debt as at June 2019 was $27.1 billion, with the 36 states and Abuja owing $4.2 billion. Domestic debt level as at June was $56.7 billion, with the states owing $12.9billion . In Naira terms, external debt stood as N8.3 trillion in June and domestic debt was N17.3 trillion.

Thus, the former President got it wrong putting the entire external debt at $81.2 billion.

Staro:
Oga, shut your dirty stinking mouth, jare!

Obasanjo is quoting current debt figures while your APC-sponsored journalist
is talking about June 2019.

What stops the journalist from obtaining updated debt figures from DMO before
rushing to press?

Like president, like followers

The ZOMBIE tag truly fits you guys so well

Kingosytex:
These Buhari's zombies are laughable, I swear!

While Obasanjo is quoting current debt figures the zombies
are referring us to June 2019

Why is every supporter of Buhari as dumb as the man himself?

At the bolded, has the perfect answer to that question.

Obasanjo gets Nigeria’s external debt figures wrong

Friday, December 27, 2019 10:12 pm

Former President Olusegun Obasanjo said Nigeria faces an impending bankruptcy, with the country’s external debt ballooning by 700 per cent in four years. But simple fact checking showed the former leader got his figures wrong on the level of external debt.

He sounded the bankruptcy alarm as a keynote speaker at the ‘Why I am Alive’ campaign celebration in Lagos. The event tagged “The Nigerian Story” was created by the chief executive of Eureka Productions, Caroline Moore.

According to a report by The Guardian, Obasanjo put Nigeria’s external debt at N24.947 trillion ($81.2 billion), from $10.32 billion in just four years (2015).

In his interpretation, Nigeria would need to commit half its foreign foreign earnings to servicing its current level of indebtedness.

“Such a situation talks about impending bankruptcy,” the former president warned. He insisted that “no entity can survive while devoting 50 percent of its revenue to debt servicing.”

He explained that the current budget out of which Nigeria spends 25 percent to service debt “is not the country’s total earning; a lot of it is also borrowing. Simply put, we are borrowing to service what we have borrowed and yet we are borrowing more.

“I do not need the brain of any genius to conclude that those who use statistics to dig us deeper into debt are our enemies: statistics can be used to serve any purpose, and that is why Winston Churchill talked of lies, damn lies and statistics, meaning statistics can be made master of lies.”

As The Guardian reported, Obasanjo called for national dialogue or debate on Nigeria’s short, medium and long-term plans as a nation.

He said his biggest worry was that, with the scale of debts the country was walking into, “there are already fiscal challenges to meet(ing) our obligations.”

Fact checking however showed that Obasanjo may have been misquoted on the level of external debt and he also was quoting outdated debt figures.

According to the Debt Management Office, Nigeria’s external debt as at June 2019 was $27.1 billion, with the 36 states and Abuja owing $4.2 billion. Domestic debt level as at June was $56.7 billion, with the states owing $12.9billion . In Naira terms, external debt stood as N8.3 trillion in June and domestic debt was N17.3 trillion.

Thus, the former President got it wrong putting the entire external debt at $81.2 billion.

Obasanjo gets Nigeria’s external debt figures wrong

Friday, December 27, 2019 10:12 pm

Former President Olusegun Obasanjo said Nigeria faces an impending bankruptcy, with the country’s external debt ballooning by 700 per cent in four years. But simple fact checking showed the former leader got his figures wrong on the level of external debt.

He sounded the bankruptcy alarm as a keynote speaker at the ‘Why I am Alive’ campaign celebration in Lagos. The event tagged “The Nigerian Story” was created by the chief executive of Eureka Productions, Caroline Moore.

According to a report by The Guardian, Obasanjo put Nigeria’s external debt at N24.947 trillion ($81.2 billion), from $10.32 billion in just four years (2015).

In his interpretation, Nigeria would need to commit half its foreign foreign earnings to servicing its current level of indebtedness.

“Such a situation talks about impending bankruptcy,” the former president warned. He insisted that “no entity can survive while devoting 50 percent of its revenue to debt servicing.”

He explained that the current budget out of which Nigeria spends 25 percent to service debt “is not the country’s total earning; a lot of it is also borrowing. Simply put, we are borrowing to service what we have borrowed and yet we are borrowing more.

“I do not need the brain of any genius to conclude that those who use statistics to dig us deeper into debt are our enemies: statistics can be used to serve any purpose, and that is why Winston Churchill talked of lies, damn lies and statistics, meaning statistics can be made master of lies.”

As The Guardian reported, Obasanjo called for national dialogue or debate on Nigeria’s short, medium and long-term plans as a nation.

He said his biggest worry was that, with the scale of debts the country was walking into, “there are already fiscal challenges to meet(ing) our obligations.”

Fact checking however showed that Obasanjo may have been misquoted on the level of external debt and he also was quoting outdated debt figures.

According to the Debt Management Office, Nigeria’s external debt as at June 2019 was $27.1 billion, with the 36 states and Abuja owing $4.2 billion. Domestic debt level as at June was $56.7 billion, with the states owing $12.9billion . In Naira terms, external debt stood as N8.3 trillion in June and domestic debt was N17.3 trillion.

Thus, the former President got it wrong putting the entire external debt at $81.2 billion.

ladonidodo:
The leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, yesterday in a radio broadcast, said the greatest mistake made by former President Goodluck Jonathan in his administration was the removal of the former Chief of Army Staff (CAS), Lt Gen Azubike Ihejirika.

Kanu, who stated this during a broadcast on Biafra Radio alleged that Northern Nigeria formed Boko Haram insurgents to fight former President Olusegun Obasanjo and Jonathan during their respective administrations.

He said Obasanjo summoned dealt with the leadership of Boko Haram before Jonathan took over, giving him the opportunity of dealing with them but was deceived into removing Ihejirika.

https://idonsabi.com/boko-haram-your-biggest-error-was-removal-of-lt-gen-iherika-as-cas-nnamdi-kanu-tells-jonathan/

LudaChriz:
Meaning?

LudaChriz:
Fellow Nigerians, as most of us will remember, the Federal Government after reaching agreement with Labour on the consequential adjustment promised to pay all the arears of the minimum wage from April this year, on or before December 31st.

Surprisingly, I received my salary yesterday and it was exactly the same amount.

Pls federal government what is the problem?

What are your intentions over the minimum wage?

Pls you people need to speak to us.


Lalasticlala help us bring this to lime light. I want Lie Muhammad to come and deny the fact that they promised to pay the minimum wage with the arrears on or before December 31st.


Lalasticlala

tstx:
Typical of Ndi Oyibo.. Always spewing trash about the African Continent... Very inconsiderate people

There's no war against Africa's Christians

NimrodEndOfDays:
but this one is for you. If you are not the. Wtf is your business?

NimrodEndOfDays:
are you from the East?

Astark:
First of all I'm not ipob or Igbo before you people tag me one and start calling them names. I've realised ever since the pictures of the bridge hit front page, it's always the same photos from different angles.

I don't think the government is doing anything there.

callthefred:
All this cases started before PMB came on board. Mind you it was even PDP that signed the law that made it impossible to delay court judgements further by seeking stupid adjournment. Kudos to PMB on fun recovery by the way.

SarkinYarki:
Name one looter he has slain ? BABA hired alll the looter into his cabinet

Larryfest:
Even if it was staged managed as you people claim where is Sowore now and why was he rearrested after the court granted him bail? Mompha was granted bail yesterday and we haven't heard of him being rearrested again so why was Sowore rearrested