Sunnyski: The tax collector and the borrower. The worst president in Nigeria history.
That is the balablu bulaba president who accused Jonathan of running a voodoo economy, in order to replace him with Buhari and APC change that is worse than worstest.
How can people who are not wicked rogues themselves, support this demonic looter of our past, present and future
Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun made this known at the end of the inaugural Federal Executive Council meeting in Abuja. Mr. Edun said that the benefit of the subsidy removal will be plough back into various sectors to improve business environment for local and foreign investment. He added that with the increased revenue from subsidy removal, various palliatives have been made available to cushion its effect on a short, medium and long-term basis.
Ofunaofu: Report: Current Govt Added More Debt in Two Years Than Nigeria Accumulated in 55 Years
• Decries Nigeria’s debt service-to-revenue ratio
•Urges FG to declare fiscal emergency
A new policy brief has warned that Nigeria’s worsening debt profile and weak revenue generation have pushed the country into a dangerous fiscal position, with the current administration accumulating more debt in two years than Nigeria recorded during its first 55 years after independence.
The report, released by the Alliance for Economic Research and Ethics LTD/GTE, a Nigerian policy think tank, argued that the country’s debt crisis has evolved into a governance and revenue emergency, as debt servicing obligations now exceed the federal government’s retained earnings. > > According to the think tank, Nigeria’s public debt rose sharply from N87.38 trillion in June 2023 to N159.28 trillion by the end of 2025, with President Bola Tinubu’s administration accounting for about N65.9 trillion of the increase within its first two years in office.
The organisation in the brief titled: “Nigeria Is Borrowing to Breathe—and the Clock Is Ticking”, noted that Nigeria accumulated only about N12.06 trillion in debt from independence in 1960 up to 2015, meaning the current administration added more than five times that amount in just 24 months.
The report stated that while previous governments also contributed significantly to the country’s rising debt burden, the speed of accumulation under the current administration had intensified concerns over fiscal sustainability.
“President Bola Tinubu’s administration has added a further N65.9 trillion in just two years. To put that in perspective: it took Nigeria’s first 55 years of independence to accumulate N12 trillion in debt. The current administration has added more than five times that amount in 24 months,” it argued.
It recalled that Nigeria briefly became almost debt-free externally after the administration of former President Olusegun Obasanjo secured an $18 billion Paris Club debt relief package in 2005 and paid $12 billion to extinguish about $30 billion in external obligations.
NaijaHelper1: What infrastructure is this one talking about? This man dey really vex me
He is talking about this type of shit water infrastructure in Lagos after 27 years of his tax DEFORM master plan that grew the state budget more than 100 times to N4.45 trillion but failed to employ enough workers to make ordinary tap water available to homes.
Guestmale: This is one of the rots perpetrated by PDP regime.The one of 2billion dollar arms procurement to deal with terrorism was also there which was also wasted away.
If not for hatred or dementia, how will someone say PDP regime was better than this regime, that is clearing the mess created by the past governments.
How is borrowing more despite saving billions from subsidy removal, but having worse roads than PDP equal to clearing the mess of those who gave us cheap petrol, cheap dollars, prosperity, high employment productivity to be the biggest economy in Africa?
Do you know the meaning of NEVER
anonimi: Petrol should never cost more than N70 per litre, says APC
January 19, 2015
The All Progressives Congress (APC) has described as mere tokenism the reduction of petrol price from N97 to N87 per litre, saying the petroleum product ordinarily should sell for N70.
On Sunday, the federal government announced the reduction of petrol price, citing the fall of global crude oil price.
But the APC through Lai Mohammed, its spokesman, on Monday accused the government of making a show out of deceit, saying “a 10.3 per cent slash in the price of petrol was a mere tokenism at a time the price of crude oil has crashed by about 60 per cent”.
It argued that the pump price of a litre of petrol should not be more than 70 Naira, alleging that at N87 per litre, the government was forcing Nigerians to subsidise the massive corruption in the oil sector by N17 for every litre of fuel.
VanuatuWycombe: They are traceable. They should be prosecuted for treason. I followed the story even to the level of presidential panel set up to investigate it. One king from Kogi State gave them land for the independent power plant. They only built one small generator house on that land and they had claimed billions of Naira from federal government that they have installed those equipment there. I watched it with my eyes on TV, that year. Nigerians are terrible sets of people, when it comes to governance. We are just not good at that. We are too laid back. All we want to do is feed, Bleep, oppress others, and have/steal money to throw around and buy ourselves what e desire. Come and see infrastructure that common local governments are doing abroad here. No federal government project in NIgeria can match its standard and the staff are accountable for every penny spent on such project.
How much enlightenment work are you doing to reduce our laid back attitude based on your experience abroad?
Meanwhile, you have not provided verifiable evidence for the specific $16 billion allegation. Until you do so, should you not desist from spreading rumours
Dogalmighty17: These equipment were some of the items imported from the 16 billion dollars Obasanjo expended during his term as president. They were meant to be used for the National Integrated Power Plant project he came up with. The project was split into different parts among different contractors. There was no blueprint and it was more or less a free for all for cronies of the president. These imported equipment were meant to be installed in power plants awarded to other contractors. Those plants either never got built, remained unfinished or were built but with no consideration of how gas will get to them. The persons who were given the contract to import these equipment, simply imported them and abandoned them at the ports since they had nowhere to deliver them to. The current admin is about to go around seeking a 21 billion dollar loan. In 2003, this country wasted 16 billion dollars and did not generate a single megawatt of power. The Nigerian rot has festered for long.
Obasanjo left office 19 years ago. Tinubu made Buhari president 11 years ago, saying that he would fight corruption and generate 20,000 Mws of additional power in four years.
Do you know why Tinubu and Buhari failed to generate any additional power despite borrowing more than Obasanjo, and despite removing subsidy TWICE in 2016 and 2023 to save trillions of Naira and billions of dollars respectively
msmon: The All Progressives Congress (APC) yesterday unfolded its power agenda should it presidential candidate, Gen. Muhammadu Buhari, be elected.
The party plans to generate at least 20,000 megawatts (mw) of electricity in four years to surpass Nigeria’s consumption level of around 15, 000mw.
In a statement, the party’s Presidential Campaign Organisation (APCPCO) expressed dismay that the Federal Government under President Goodluck Jonathan had only added 1.400mw to the national grid in four years.
The statement by Mallam Garba Shehu, the spokesman of the campaign, quoted Gen. Buhari as saying that while he will not run a witch hunt government, he will not hesitate to deal decisively with cases of impunity and corruption. No probe of any government official, he added.
The statement also quoted Gen. Buhari as saying he is passionately concerned about the sorry conditions of our armed forces today who, despite huge budgetary allocations, have failed to effectively deal with manifest security threats, including the Boko Haram terrorism.
“What he said at every given opportunity is that he is keenly interested in knowing what has gone wrong, if any, with the army that he knew. When he has access to them as Commander-in-Chief, he will like to hear from his commanders what problems they are dealing with so that they can be solved,” Shehu said.
“In a democracy such as ours, all institutions of government, including the armed forces, are accountable. No country can achieve results in its counter-terrorism efforts when there is no transparency in the management of huge resources for the purpose. He (Gen. Buhari) will reinvigorate the armed forces and restore their rapidly evaporating morale,” he said.
The APC Campaign Organisation accused the PDP of wasting billions of naira on non existent power, managing to add a yearly average of 87 megawatts of electricity, showing a massive failure to substantially raise generation and distribution of electric power despite promises and cash infusion of between $16 billion and $20 billion.
Shehu said “nearly 16 years of PDP administration gave this country a miserly addition of 1,400 Mega Watts against the expenditure of more than $16 billion. That translates to 18.5 MW per annum”.
Saturnalia: The person responsible was Atiku Abubakar who still owns a humongous stake in Mikano Generators, yet he wants to come back to finish off what is left of Nigeria through his looting mercenaries. As for the $21 Billion Loan, if na you nko, you no go secure your lineage & political capital Incase the elections go sideways? Na part of that money we go take neutralize all those who are plotting to foment trouble & coup. Must I teach you everything? This is a game of chess and Tinubu has already won, so rest!
How do you know that Atiku has a humongous stake in Mikano generators?
attackgat: The group cited insecurity, kidnappings, killings and attacks on rural communities across the South West, alongside concerns over the Yoruba people’s political and economic future beyond 2031, when President Bola Tinubu’s tenure is expected to end, if he completes his constitutionally permitted two terms.
Why are they not calling for the failure in Aso Rock to resign, if they are not clueless balablu bulaba town hall clowns like him
rossipki: TINUBU IS JUST THE ONE CLEANING UP THEIR MESS!!! Same way he paid Nigeria Airways staff their gratuities and pensions after 20 years of neglect by previous governments. Same way he rebuilt the National Theatre and is rebuilding Murtala Muhammed International Airport into an elite, world class edifice and facility. Same way in April he ordered a comprehensive nationwide rehabilitation and upgrade of all sports facilities including school sports facilities, meaning that Abuja and Surulere National Stadium Lagos, among others, are soon to regain their world class glory. Tinubu is a real leader. And he doesn't talk much.
Are you talking about the master strategist of a-looter propaganda politics who saved billions of dollars from subsidy removal but:
- struggled to pay N35,000 wage award to federal workers, - failed to pay NYSC new allowance until a girl’s video went viral, - failed to pay pensioners - failed to pay contractors - failed to implement budget and keeps rolling them over.
Cmanforall: With this your thought, hope it’s not lies . This is because releasing billions to settle for empty or nonexistent containers will be another kind of fraud on its own.
Wish names of the importers will be made public, for transparency sake
Of course, it’s a lie from experts in propaganda lies.
Bobloco: ‘Nigerians tell me to slow down, freezers are freezing’ — Power Minister
The Minister of Power, Joseph Tegbe, on Wednesday said some Nigerians had asked him to “slow down” the improvement in electricity supply because, according to him, their freezers were now working continuously.
Tegbe made the statement in Abuja while speaking at the commissioning of the 3-megawatt solar hybrid power project at Yakubu Gowon University, formerly the University of Abuja.
The minister said he had been receiving feedback from electricity consumers following improvements in power supply in some parts of the country.
“Places that didn’t have light at all for three months are now having 18 hours light. Some areas called me to say, look, I should slow down, that everything in their freezer is freezing.
“That is what freezer is meant to do. Let it freeze the food that needs to be frozen,” Tegbe said.
Tegbe said he had promised during his Senate screening that Nigerians would begin to see noticeable improvements in electricity supply within three to six months.
Dogalmighty17: These equipment were some of the items imported from the 16 billion dollars Obasanjo expended during his term as president. They were meant to be used for the National Integrated Power Plant project he came up with. The project was split into different parts among different contractors. There was no blueprint and it was more or less a free for all for cronies of the president. These imported equipment were meant to be installed in power plants awarded to other contractors. Those plants either never got built, remained unfinished or were built but with no consideration of how gas will get to them.
The persons who were given the contract to import these equipment, simply imported them and abandoned them at the ports since they had nowhere to deliver them to.
The current admin is about to go around seeking a 21 billion dollar loan. In 2003, this country wasted 16 billion dollars and did not generate a single megawatt of power. The Nigerian rot has festered for long.
Why do you believe this story, when it’s from Tinubu propaganda liars?
slivertongue: Make your choice in 2027. I have made mine
Obi also made his choice.
He is going with the generous man who rescued him from political wilderness in 2019, five years after his fidelity bank protégé kicked him out of their regional APGA party, following his failed attempt to become Anambra godfather like Tinubu is for Lagos.
anonimi: The Vice presidential candidate of the Peoples Democratic Party, Mr. Peter Obi has advised Nigerians not to allow few politicians determine the future of the country but see themselves as stakeholders by being actively involved in the forthcoming general election.
Mr. Peter Obi stated this while addressing members of the Igbo Community in Benin on why Alhaji Atiku Abubakar should be elected as president.
mactoni91: This is good news. Kwankwaso is really doing his homework up North, and Obi is doing his own in the South. A better Nigeria is POssible! Obi would lock down 90% of the SE, 70% of the SS, 40–50% of the SW, and 40–50% of the NC. Kwankwaso is helping strengthen the numbers in the North. Atiku may lock 50–60% across the North, leaving Kwankwaso and Bola to battle for the remaining votes. My question is, where will Bola get his block votes? Your guess is as good as mine.
This 2031 focused Kwankwaso? Abi another one?
Kwankwaso is the new Utomi. QED!!!
As a VP to Peter Obi, he will lose and I will lose because No northerner will ever vote an ibo man as president — Kwankwaso 😳🔥👇 pic.twitter.com/YRBzWRbzvs
lexylaw40: The “president-elect” saw in Obi's presidential bid, a good chance to reduce the winning chances of the presidential candidate of the PDP, Atiku Abubakar.
The governorship candidate of the Labour Party (LP) in Oyo State, Tawfiq Akinwale, [/b]on Wednesday [b]stated that the “President-elect” Bola Tinubu asked popular economist, Prof Pat Utomi to step down for Peter Obi in the buildup to the 2023 general elections.
Akinwale made this revelation while he appeared as a guest on a radio programme on 101.7 YES FM, Ibadan, Oyo State, while alleging that Obi received campaign funds from Utomi, whom he described as Tinubu's "son."
The LP aspirant, who spoke in Yoruba language, said "In the buildup to the 2023 elections, Obi who had purchased the nomination form of the Peoples Democratic Party (PDP), suddenly announced his exit from the party.
"Initially, Pat Utomi had secured the LP's presidential ticket, but when Peter Obi said he resigned from the PDP and joined the LP. Bola Tinubu, a master political strategist, quickly told Utomi, that everyone knows to be his son to step down for Obi.
"The “president-elect” saw in Obi's presidential bid, a good chance to reduce the winning chances of the presidential candidate of the PDP, Atiku Abubakar.
"What Peter Obi didn't know is much more that what he knows, he started collecting campaign funds from Utomi, while Tinubu was giving the money to Utomi.
"This went on until Obi's presidential campaign got to a stage it went beyond target. Obi was used without him knowing," Akinwale said after announcing his departure from the party.
Obi defected to the LP after resigning his membership of the Peoples Democratic Party (PDP) and also withdrawing from the presidential race under the party.
The former governor consequently joined the race for the party’s presidential ticket, while Professor Pat Utomi, in June 2022 stepped down for him to emerge as the presidential candidate of the Labour Party, LP, unopposed in Asaba, Delta State.
aswani: Prof Utomi, yes that President Tinubu's Pat Utomi, is in NDC with him still making sure that he is doing enough to ensure that Peter Obí is not a threat to President Tinubu.
To use a footballing parlance, he has close marked Peter Obí out of making important decisions that might threaten President Tinubu in the elections.
Peter Obi should have stayed in ADC and accepted the VP slot. He is now in a much smaller party and his Obidients are being taken for granted in NDC. Prof Utomi did his job well in 2023 and has now exceeded that already.
slivertongue: A good product can't be hidden. PO everywhere you go
What is good about this product, who is just as wicked and anti people, as the master strategist of a-looter propaganda politics that Obi’s rigged SE votes helped to grab power from Buhari?
NLCreator: Peter Obi, presidential candidate of the Labour Party (LP) in the 2023 elections, has defended the purchase of sports utility vehicles (SUVs) for members of the national assembly.
There have been reports that the leadership of the 10th national assembly has bought SUVs for all lawmakers.
Each SUV is said to be valued at N160 million.
The LP had asked members of the party in the national assembly to kick against “wastage”.
While responding to questions during a press conference in Abuja on Monday, the former governor of Anambra said the SUVs are not personal cars of the lawmakers, noting that they are for official use.
“Let me start with the issue of Labour Party members in the house. I have actually discussed this issue with them,” Obi said.
“Surprisingly, I can tell you I heard that these vehicles are official cars. They have to use it. It is meant for office.
“So it is not as if it is their vehicle. They said it is official cars and you are meant to use it while you are in the senate.”
Obi also hinted at contesting for the country’s number one position in 2027, adding that Nigeria deserves dedicated and visionary leaders who will lead the country towards a brighter future.
Bwilliam: Nigeria was amongst the top 3 emerging economies before the Aka enwe of APC took over and erased 7 years of growth and advancement.
What Tinubu and his A-looter Propaganda Congress, APC party can’t destroy does not exist.
Don’t they deserve to be stoned like in shariah law
thisweekng: The Minister of Finance and Coordinating Minister of the Economy Chief Olawale Edun has said the last time Nigeria’s economy looked stable was about a decade ago.
He made this statement during his maiden press conference as Minister of Finance where he outlined President Bola Tinubu’s vision, agenda and strategy for the economy.
He said, “I think as we all know, we are not where we should be. The economy is barely growing above the rate of population growth.
“But it was not always so, and I think in trying to look at the way forward, if we now have a situation of slow growth, double-digit inflation, weak/depreciating exchange rate, as well as security concerns that are resulting in an economy that is not growing and not taking Nigerians out of poverty.
“If we think back to the last time when the economy was stable- when it was growing, when inflation was low, and the interest rate was affordable, that period was about a decade ago. Growth was about 6% in 2013 and 2014.” Private sector to drive the economy
SlavaUkraini: Nigeria that Jagaban is planning to bury under the rubble of rising debt....
Dey play
The hypocrite is doing a great job of voodoo economics, which he accused Jonathan of, when he begged Buhari out of retirement to make him president, after their wicked party invited terrorists to destroy our country.
anonimi: March 8, 2013 Nigeria operating voodoo economy – Tinubu
FORMER Lagos State Governor, Asiwaju Bola Ahmed Tinubu, yesterday, dissected Nigeria’s economy and declared that the country was operating a voodoo economic policy that is pauperising the citizenry and urged urgent economic surgery to save the polity.
For instance, Tinubu wondered why the Federal Government is maintaining a foreign reserve of $46 billion with one or two per cent interest and shouldering a load of $42 billion domestic debt, which it services with 16 per cent interest.
“This is voodoo economy,” he said, adding, “they are operating it because they don’t know what to do. It is choking the private sector.
“We must in this country do away with the idea of ‘it is better save the money and spend the people.’ Rather I will say we should adopt the policy of ‘it is better to save the people and spend the fund.’
How will these fake news help Tinubu win reelection in the face of real hardship for Nigerians, due to his clueless balablu bulaba mismanagement of the country with wicked corruption
Nigerians, rich and poor feel the incompetence, and fear the consequences of worsening insecurity, inflation, unemployment, extreme poverty etc.
Nigeria loses 47% of dollar millionaires, retains 4th position in Africa
Nigeria has lost nearly half of its dollar millionaires over the past decade, with the population of high-net-worth individuals falling by 47 per cent between 2015 and 2025, according to the 2025 Africa Wealth Report by Henley & Partners in collaboration with New World Wealth.
Despite the sharp erosion in private wealth, Nigeria retained its position as Africa’s fourth-largest hub for dollar millionaires, with 7,200 millionaires, 20 centi-millionaires (individuals with investable wealth of at least $100 million) and three billionaires, trailing only South Africa, Egypt and Morocco.
The report showed that South Africa remained the continent’s wealthiest country by number of dollar millionaires, with 41,100 millionaires, 112 centi-millionaires and eight billionaires. Egypt followed with 14,800 millionaires, 49 centi-millionaires and seven billionaires.
anonimi: Nigeria remains fourth largest economy in Africa despite rebasing
July 21, 2025
Nigeria has retained its status as the fourth largest economy in Africa despite a rebasing exercise that expanded the country’s gross domestic product (GDP).
The National Bureau of Statistics (NBS) announced that the economy expanded to N372.8 trillion ($243 billion) in 2024, down from N314.02 trillion in the prior year as more sectors in the informal economy were considered in its calculations.
The statistics bureau adopted 2019 as its base year away from 2010 that’s previously reported.
The rebasing exercise covers the period from 2019 to 2023 and reflects changes in the economy’s structure, sectoral contributions, and data sources.
Despite the overhaul, Nigeria fails to reclaim its erstwhile status as the largest economy in Africa.
According to the International Monetary Fund (IMF), South Africa remains the continent’s biggest economy with a GDP of $410.34 billion for a country with little over a quarter of Nigeria’s population.
Following the Southern African nation is Egypt with a GDP of $347 billion while Algeria maintains its third position having $268.9 billion as the size of its economy.
Although Nigeria’s economy grew 30 percent above the projected $188 billion estimate by the IMF this year, the rebasing was poised to place the economy as the biggest in Africa.
CaseSensitive: Were their universities not functioning without foreign students in the past? Yes they did function before, but not under today’s funding model. The issue isn’t that UK universities inherently need foreign students, it’s that policy has made them increasingly dependent on those fees. These universities usually relies on government fundings but under the current funding model, tuition fees from international students relieves the burden on government and now with dwindling appetite from international students, that means government must keep those universities afloat. Makes sense?
Don't they have foreign lecturers and other workers in their universities I think you miss the point here. They do have foreign lecturers. Half of my lecturers and professors in my university days are Iranians, Nigerians, Greek etc. This is about reducing net migration, not about sending away non-white, non-British people away from the UK.
Negative funding impact on universities from less foreign students will also impact foreign university lecturers and other workers.
Sheuns: Most of the animals the went into extinction were hunted by those that told you to now preserve animals. Hunting is not bad, it keeps the ecosystem in checks. What’s bad is over hunting.
Where is the database here for hunting, to determine if any particular specie is over-hunted
What well paid civil servants are keeping the database reliable?
YourNextLevel: When Africa kills animals, is wrong but when the west kills, is for a reason. And these data boys are talking trash Good job my people
Do westerners still hunt wild animals like we do, instead of conserving them to earn steady income from tourists while protecting the delicate ecosystem balance
Putinofrussia: Continue to deceive yourself with this line.... PDP gave us cheap petrol, cheap dollars, prosperity and high employment productivity to be the biggest African economy. Can you have prosperity and still borrow money to pay workers? By 2014,Nigeria was on its knees because the govt couldn't meet its responsibilities again
Tinubu is borrowing more than PDP did, but he can't pay workers and is owing pensioners and contractors. What is he doing to all the loans plus subsidy savings apart from stealing
omoredia: Slavery is still ongoing lets not deceive ourselves. U will use your money to pay for slavery buy yourself now
Slavery is indeed taking place, as we actively/passively encourage the fleecing of our country by politicians and others, while those of us who can't steal do japa.
anonimi: Neo-black Problem: Must Blacks Be Ruled by Whites in Order to Prosper?
In short, the neo-black dilemma may be framed as follows: is it better to live under white rule without political dignity but with basic life-sustaining standards for many;
or to live under black rule with illusory political dignity and without basic life- sustaining standards for the majority? @ @ The path forward for Africa lies in cultivating higher and adequate levels of personal and communal agential integrity as well as full personal responsibility and productivity. Not to mention creativity (including epistemic creativity), productive justice (such as merit and freedom), harmony and reconciliation at local and international levels, and a proper domestication of capitalism and other related values and institutions.
Africa must stop wasting her time on dreams of socialism because it is a system of wealth distribution primarily. Whereas, capitalism is a system of wealth creation primarily, and wealth has to be produced before it can be distributed.
CaseSensitive: That's why UK Universities are facing financial crises. They want to curb migration and applying relative levers to that effect but still can't keep Universities afloat without the billions of £ from foreign students. You can't have your "Kate and Edith".... You can't have your cake and eat it. How does that saying go?
Were their universities not functioning without foreign students in the past? Don't they have foreign lecturers and other workers in their universities
Xscape1993: If not that we don't have good leaders....
How can Stockholm syndrome tribalistic people who use rotation and zoning to share the national cake of corruption, ever have good leaders? How is that even possible
Sheuns: We the young ones of Africa need to balls up and face these older destroyers that have made life terrible for decades and still counting. We can’t keep running away for better life when we should be at the throats of these thieves who call themselves leaders. Haven’t we had enough? I have.
What has age got to do with competence and being a wicked rogue? Does this wicked, anti-people politician not pretend to be a young person
NLCreator: Peter Obi, presidential candidate of the Labour Party (LP) in the 2023 elections, has defended the purchase of sports utility vehicles (SUVs) for members of the national assembly.
There have been reports that the leadership of the 10th national assembly has bought SUVs for all lawmakers.
Each SUV is said to be valued at N160 million.
The LP had asked members of the party in the national assembly to kick against “wastage”.
While responding to questions during a press conference in Abuja on Monday, the former governor of Anambra said the SUVs are not personal cars of the lawmakers, noting that they are for official use.
“Let me start with the issue of Labour Party members in the house. I have actually discussed this issue with them,” Obi said.
“Surprisingly, I can tell you I heard that these vehicles are official cars. They have to use it. It is meant for office.
“So it is not as if it is their vehicle. They said it is official cars and you are meant to use it while you are in the senate.”
Obi also hinted at contesting for the country’s number one position in 2027, adding that Nigeria deserves dedicated and visionary leaders who will lead the country towards a brighter future.
NewHe: That's what the likes of Obi,Atiku,Ameachi and haters of Tinubu doesn't want to be echoed! Yesterday it was former AFDB Chief Adeshina today's own will increase their BP!
Will it increase their BP more than for these extreme poverty, jobless and hungry people that agbaaya Jide Kosoko should not be angry
Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun made this known at the end of the inaugural Federal Executive Council meeting in Abuja. Mr. Edun said that the benefit of the subsidy removal will be plough back into various sectors to improve business environment for local and foreign investment. He added that with the increased revenue from subsidy removal, various palliatives have been made available to cushion its effect on a short, medium and long-term basis.
Ofunaofu: Report: Current Govt Added More Debt in Two Years Than Nigeria Accumulated in 55 Years
• Decries Nigeria’s debt service-to-revenue ratio
•Urges FG to declare fiscal emergency
A new policy brief has warned that Nigeria’s worsening debt profile and weak revenue generation have pushed the country into a dangerous fiscal position, with the current administration accumulating more debt in two years than Nigeria recorded during its first 55 years after independence.
The report, released by the Alliance for Economic Research and Ethics LTD/GTE, a Nigerian policy think tank, argued that the country’s debt crisis has evolved into a governance and revenue emergency, as debt servicing obligations now exceed the federal government’s retained earnings. > > According to the think tank, Nigeria’s public debt rose sharply from N87.38 trillion in June 2023 to N159.28 trillion by the end of 2025, with President Bola Tinubu’s administration accounting for about N65.9 trillion of the increase within its first two years in office.
The organisation in the brief titled: “Nigeria Is Borrowing to Breathe—and the Clock Is Ticking”, noted that Nigeria accumulated only about N12.06 trillion in debt from independence in 1960 up to 2015, meaning the current administration added more than five times that amount in just 24 months.
The report stated that while previous governments also contributed significantly to the country’s rising debt burden, the speed of accumulation under the current administration had intensified concerns over fiscal sustainability.
“President Bola Tinubu’s administration has added a further N65.9 trillion in just two years. To put that in perspective: it took Nigeria’s first 55 years of independence to accumulate N12 trillion in debt. The current administration has added more than five times that amount in 24 months,” it argued.
It recalled that Nigeria briefly became almost debt-free externally after the administration of former President Olusegun Obasanjo secured an $18 billion Paris Club debt relief package in 2005 and paid $12 billion to extinguish about $30 billion in external obligations.
Politics › Re: Tinubu Defends Borrowing, Says Infrastructure Will Drive $1 Trillion Economy by anonimi: 8:49am
