That's so bad of country that wants to survive .

okoo

Fake

Mynd44:

It is simply because the South African Government earns more in terms of taxes and royalties than the Nigerian government

that accounts for only one factor, low revenue. There is the other factor of high debt servicing which could be accounted for by high cost of debt (debt interest rates) or excessive borrowing

We don't have a debt problem, we have a revenue problem.

This FG is terribly unpopular and as such cannot do the right thing.

That's why we need Peter Obi. He is an economist and knows what to do to build this country up

Huh

Bigchristo:
You lied, the Nigeria government borrow money more than the South Africa our debts is bigger than theirs

Did you read the article? South Africa's debt profile is far higher.

The problem is that we have insufficient revenues..

If the 4 trillion ($8bn) used for fuel subsidy is added to our actual revenue...then debt servicing rate will be reduced significantly even though the amounts we spend to service debts remains the same ..

Our taxes are relatively lower than SA

Wow.... And after reading this some deluded tribalists will still not vote with sense.


Nigeria need a president that investors can trust, a president that the world can trust and ve faith in else it would be another circle of hardship, frustration and purposelessness

Any attempt to condemn debt will be met with reply of USA also being indebted. Is USA like us now?

Ademola47:


https://punchng.com/nigeria-spends-86-of-revenue-on-debt-servicing-south-africa-pays-20/

las las na war go scatter this country cos we are at the tipping point. No wonder People are obtaining passports and jetting out. Every sensible people out there should never vote for recycled politicians if you want this entity to remain sovereign. I don talk my own

Nigeria's current debt figure should have been under control if only the revenue generation was optimal and we had more capable people and not these dimwits as leaders.
But one thing for sure is that it can be solved and things can get easier IF and only IF we get it right at next year's polls, cause these ones obviously have nothing to offer

A chronic debtor never ends well.

Ademola47:


https://punchng.com/nigeria-spends-86-of-revenue-on-debt-servicing-south-africa-pays-20/

It seems as though Nigerian politicians believe Nigeria will get another debt forgiveness or they don't just care. Because how can you be servicing debt with 85.5% of your income. Servicing not even paying back

Good explanation. It takes a visionary leader to get out this mess. An educated and selfless leader can correct this anomalies.
Nigeria will die one day

An average Nigeria will do all within his power to evade tax payment.

Buhari is governing this country with secondary school economics intelligence.

Mynd44:

It is simply because the South African Government earns more in terms of taxes and royalties than the Nigerian government

What about the cost of Governance? Do they have politicians on bogus salaries and allowances ? Do they have politicians that loot the entire constituents funds ? How can we be talking about increasing tax next without focusing on reducing cost of Governance?

ObosiLandlord:
Even though SA earn more than Nigeria, GMB didn't borrow with sense.

I would have been more happy if he borrowed to fix power supply

Power supply is still very terrible even though e don almost spend 7 years in power.

When you tell some people Nigeria is not a wealthy Nation, dem go dey follow you argue. Buhari North bring so little to the table, yet he don finish us with the way he has been borrowing.

Instead, Buhari was borrowing to build standard gauge rail lines to Niger Republic to enable people from Niger Republic to troop into Nigeria to occpy Nigeria.
If Buhari had done all those borrowing to fix electricity problems in Nigeria,

salbis:
The chopping wey dey dis country is too much. From top to bottom all dey steal like rats.

Do you think the country should be renamed Ratsgeria

Ademola47:


https://punchng.com/nigeria-spends-86-of-revenue-on-debt-servicing-south-africa-pays-20/

So Naija get all these debts and them colonize us, yet some stupid loan applications no go gree me rest.

Abeg Mae dey flenjure dey go jarey...

It shall not be well with PDP under Jonathan and APC under Buhari.

JosephXavier:
Thanks to Buhari, we will soon be spending 90% on debt servicing while the politicians will embezzle 8%

They are not servicing any debt, give them 3x what they owe to clear the debt and we will still be owing. US and China owes way more than us but are doing way better.

ObosiLandlord:
Even though SA earn more than Nigeria, GMB didn't borrow with sense.

I would have been more happy if he borrowed to fix power supply

Power supply is still very terrible even though e don almost spend 7 years in power.

When you tell some people Nigeria is not a wealthy Nation, dem go dey follow you argue. Buhari North bring so little to the table, yet he don finish us with the way he has been borrowing.

Nigeria is a wealthy nation with bad governance. US and UK owe more than we do, I m sure even SA has more debt. Those guys are not servicing any debt

I see

So it's not because Buhari has borrowed more in 7 yrs than Nigeria borrowed between '85 when he was thrown out and 2015 when he came in.

That's 30yrs mind you.

Perhaps you aren't the right person to respond to this matter.

I come in peace

Mynd44:

It is simply because the South African Government earns more in terms of taxes and royalties than the Nigerian government

obaaderemi:
Did you read the article? South Africa's debt profile is far higher.

Do you mind if I show you both countries debts profile? Nigeria is owing more than SA

Mynd44:

It is simply because the South African Government earns more in terms of taxes and royalties than the Nigerian government

Did they block the holes when borrowing and were the fund used on reasonable project like 24 hours electricity, health equipments

Mynd44:

It is simply because the South African Government earns more in terms of taxes and royalties than the Nigerian government

Not really, it's a deliberate, to count down borrowing to avoid our situation.