Kendumazy: The Debt Management Office, DMO, has announced that the total debt stock of Nigeria rose to N31 trillion as of June 2020.
It also said the debts are expected to rise this year following more debts to be sourced from international financiers.
As of March 2020, the debt was at N28.6trn comprising all debts of the Federal Government, the 36 state governments and the Federal Capital Territory (FCT).
The latest debt total of N31.009trn debt is about $85.897 billion while that of March which was N28.628trn was about N79.303bn.
Cause of increase
The debt stock grew by N2.38trn or $6.59bn within the three months interval.
The additional increase was due to the $3.36bn Budget Support Loan from the International Monetary Fund IMF), new Domestic Borrowing to finance the Revised 2020 Appropriation Act, the issuance of the N162.557bn Sukuk, and Promissory Notes issued to settle Claims of Exporters.
The components of the debts are:
The multilateral debts are the highest of the stock of N16.360trn accounting for 51.97% of the total stock. The 10 agencies include IMF, World Bank Group, the African Development Bank (AfDB) Group, Eurobonds and Diaspora bonds.
The bilateral debts account for N3.948trn representing 12.54% of the debt stock taken from the international development agencies of China, France, Japan, India and Germany.
The third debt category is the commercial debt which is N11.168trn and represents 35.48% of the debt. This is the second largest debt after those of the multilateral agencies with Eurobonds and Diaspora bonds accounting for them.
Further rise
The debt stock will rise with the expected borrowing from the World Bank, African Development Bank and the Islamic Development Bank which were arranged to finance the 2020 Budget Appropriation.
The Nigeria Customs Service was recently given part of these funds to automate its services at the ports, to the tune of $3.1 billion.
Most of the loans are long term facilities with the repayment beginning already while the fresh loans’ repayment begin from 2022.
On the Sukuk bonds and other domestic bonds, their maturity periods are often between five and seven years for the repayment.
What you owe
The ministry of finance recently said there are plans made for the loans to be repaid. So far in the 2020 budget, over N3 trillion or a quarter of the budget is dedicated to debt servicing, for repaying the debts.
At N31 trillion, every Nigerian from the over 200 million population owes the debtors N155,000 in debt.
This debt per Nigerian will rise further when the loans from World Bank, AfDB and IsDB comes in later this year.
OROSUNBOLB: Jokers ! These descendants of Uthman Dan fodio are quite funny and always think that they are smart. We already knew this would be your next move the moment that notorious Miyetti Allah terror group announced formation of ethnic fulani vigilante organization to be stationed in every part of the country !
The idea is to mop up all arms,light or heavy,in all areas where this ethnic fulani vigilante group will be operating. The southern boarders especially will be strictly monitored to ensure that arms are not getting into the hands of the people of that region for self defence against the fulani militia force,while the boarders up north remain porous to facilitate regular supply of arms and ammunitions for the use of the fulani supporter of APC terrorists.
This is just a subtle way of disarming the likes of Amotekun and such other groups in the south so as to allow fulani vigilante group to operate freely and unchallenged on our soil ! Ko Jo l'egba,even ko Jo l'ake ! Yoruba will always be 1001steps ahead of you guys in terms of everything,including strategic manoeuvering and planning.
Foolish people ! You haven't seen anything yet. Amotekun will be heavily armed and they won't be under the command of the Nigerian Police force as reiterated again recently by Akeredolu and Makinde of Ondo and Oyo state respectively.
Land grabbing agenda won't work in Yoruba land because we are quite aware of all your plans, even before you conceived some of them. In Yoruba land,every able bodied men and women are Amotekun fighters and are ready to fight to defend every inch of our territories.
If we truly want to control illegal arms in this country, then let's start by disarming fulani herdsmen and bandits that are maiming,killing and terrorising innocent Nigerians on their various lands without anybody doing anything about it.
We are ready for you guys here.
GUY YOUR HEAD DEY THERE..WE KNOW THEIR EVIL PLAN AND I PRAY THEY GO AHEAD WITH IT SO WE CAN USE IT AS AN EXCUSE TO SND THEM BACK TO FUTA JALLON
Xda59: Let it come. It will be a fight to the finish. It is time to put an end to this hausa/fulani bullshit that has pegged the nation down since God knows when.
Let them start it ,we shall put an end to it for them.
Bighead9: This campaign won't be about videos, we are waiting for Ugly and incompetent Obaseki to show the projects he did in Edo state, even though we know he did none.
you must be one of those thugs in edo state,no more free money from working edolites.
supercase1: It's so painful seeing innocent farmers crying about this herdsmen massacre on innocent Christian farmers in the north south east and west of this contraception called Nigeria I think this hint am about to drop is the best way the farmers can go about their activities and protect themselves from these murderers who happened to be buhari relative *NEVER GO TO THE FARM UNARMED:this should be the first and foremost rule never enter into the bush unarmed if u must go u must be armed with atleast a minimum of a pistol locally made or not when u encounter a killer herdsmen the farmer can either run ambush and kill the terrorist if this is done I think these herdsman will think twice before attacking farmers *EVERY MALE MUST OWN OR KNOW HOW TO MAKE A GUN:this must be a necessity every man must have a rifle e.g a bolt action or pistol in his house and it should be properly concealed or buried underground when the millitary come to disarm the people they should surrender non functioning weapons and Cutlass to them while their main weapon is concealed *GUNSMITH AND CRAFTMEN IN THESE COMMUNITIES SHOULD BE CONCEALED:they are the principal targets when the millitary and police will come in to disarm the innocent community members the key guys doing the weapons should be annoymous and never show up during any so-called peace meeting between the police and the community members in fact those giving the farmers and vigilantees the guns should do it free of charge and they should be masked so that even if a farmer is arrested he won't know who gave him the gun *EVERYONE SHOULD BE ON THE ALERT:the community must be on high alert always there should be a group that always watch out for an impending attack this group shouldn't be armed but as soon as the attack commence everyone can draw out his hidden weapon and inflict damage and casualty on this maraudering herdsmen,whenever the herdsmen attack and they record casualties I think they will think twice before attacking nextime and the people should not call those they killed herdsmen they should call them Bokoharam and robbers that would be reverse psychology while inflicting steady pains on those animals in human skin
sulaak: The Fulani's also controlled all arms of government in CAR, but were still defeated and kicked out of the country.
The history of Fulani's domination has been through cooperation and cohesion of the host communities as in Guinea- Bussia, Gambia, Nigeria and Senegal. Fulani are brilliant in exploit the greed and ambition of the host communities, Gowon was the acceptable face of government from the North that Awolowo could tolerate and work with. Tafawa Balewa working on behalf of Amadou Bello, was able to strike up a political relationship with Zik to disrupt and weaken the South West.
The secret to ending Fulani's domination in Nigeria is the cooperation between the two most powerful nations in Nigeria, the Yoruba's and Igbo's. Both ethnic groups will have to dampen their political ambition for a minority ethnic group from the South-South or Middlebelt (Christain). The next president will have to come from one of those two regions with the Yoruba's and Igbo's working behind the throne.
i concur with your write up
The Yoruba's and Igbo's must work together or else there will be no Nigeria left by 2030.
technicallyrich: i have read all you wrote and i have said they are trash. We have igallas in east,just like we ijaws are in the west. [b]We ijaws can even defeat and conquer the yaribanza as they are streghntless and weak. [b][/b][/b]But you dont see us make noise about it. Hope you know igallas are also in bayelsa.so we you say they conquered ijaws.which is not even possible as ijaws are the strongest,bravest,richest and most blessed black people on earth. Igallas are our minority brothers,a small biafran tribe mostly found in ss,se and some middle belt part of biafra. You can never cause problem for us.
saaron: In sane climes, the leaders of miyeti allah terrorist organization and all their members would have been arrested, prosecuted and sentence to death for genocide a long time ago. The fact that no fulani terrorist have been prosecuted for crimes against humanity shows Nigeria is one of the few rotten countries where murderers are protected. BTW, reports coming from plateau is that the weapons used by fulani terrorists to commit genocide on sunday was more sophisticated than the soldiers. The fulanis used heavy weaponry that the military can only dream of. Their guns was so sophisticated that the few soldiers left in the area ran away leaving the murderers to slaughter men, women and children at will like chickens. The question is, where did fulanis get their weapons? Who supplies it for them? Isn't it obvious that buhari's satanic regime is arming fulani terrorist with heavy and sophisticated weaponry? Weapons the Nigerian army itself can only dream of. Based on eye witness accounts and the heavy weaponry used by the fulanis to massacre plateau people has further proven in EMPIRICAL TERMS that fulani terrorist attacks in Plateau state and Nigeria as a whole is STATE SPONSORED BY BUHARI'S ISLAMIST REGIME. THIS IS A FACT! You just need to see the weapons. No way in hell could civilians afford these heavy weapons without federal govt invovlement!
jakezebrax: Rwanda only began to succeed when they finally allowed the gifted Tutsi tribe (black Jews, related to the Igbos...see link) to assume power after years of discrimination. Very much like the Igbos, they Hutu and other minority tribes ganged up and massacred over 1 million Tutsi; out of hate they were successful and fear of domination. Same shit they have done and continue to do to Igbos in Nigeria! Now the Hutu and other tribes are enjoying the genious of Tutsi in shaping Rwanda to what it's today.
Infinixhot6: Igbo people thinks they can blackmail other Nigerians in to supporting their quest for president.
The truth is that the current crops of Igbo leaders are too corrupt, greedy, self-centered and does not have what it takes to keep Nigeria united as safe.
After President Buhari, power should rotate to the Northeast before coming to the Southeast for Igbos.
oga shut up there,after buhari power would come to the south ,we'll decide who to hand it to
degamemaster: Wake up, you will see that nobody does this dirty business more than the westerners and Edo people but because they control of the Nigerian media outlets, they cook up stories, frame up the Igbos and projects them in a very bad character but hides theirs. Unfortunately, the tide has turned and every one has access to the internet and social media so the truth is coming out now.
greggng: After listening to kabaka. ..I am convince this is witch hunting exercise ....the type done to yinka ayefele radio in oyo state. They guy said it clearly that they wanna hold him to ransome. ...and he cannot continue dancing to the tune of every governor....since each one that comes in would wanna use his house a something to hold him to ransome......that is not by force to work with obasaki...he finally said the gov't can go ahead and demolish it instead of using it as a way to buy his loyalty....his loyalty is with oshomole not obasaki....I have already seen the end of this obasaki rascality ....he is working for pdp.....he doesn't care about re-election....he now has an attitude of if I can't 've my way let me destroy the bridge. We are watching
Slawormir: You are a real niggarrr. Infact i owe you some bottles, a parcel of weed and two to three paid bitches for you to bang. When ever you are in Benin city. Just halla at me. Even when am not around i will tell my other real niggarrrz to position you
They don't know what it takes to hypnotize, brain wash and use reverse psychology on a soul
They don't know what it means to acquire tools and format They don't know what it means for your picker(aza man) to come up with stories that your money is not available
seanwilliam: do the following and watch her crave for ur attention like a boss. 1. play reverse psychology on her(stop calling her) 2. after the above, get urself as many ladies as possible and rub it nn her face 3. improve urself financially and sexually 4. if she eventually comes back, dnt stalk her and let her see u as a guy with many options
Canada2021: I hope so bro because na dis babe i wan marry. I have given up alot for us to be together
guy free the babe ,she has been seeing somebody else but doesn't know how to end the relationship,as soon as the new guy disappoints her she will come back with an excuse for taking that action. NO MUMU yourself...DEJAVU
PaChukwudi44: Bros the SW will not smell the presidency in 2023.The rest of the south will unite with the north and mess it up.You people are far more greedy and treacherous than the north.You actually think people in the SS/SE are fools
Oga you cannot trust region when the time comes,every region will align with whichever deal favors them.
Politics › Re: Nigeria’s Debts: How Each Nigerian Owes ₦155,000 by mp3ree: 12:46am On Sep 23, 2020
