₦airaland Forum

rvp2018:
They must be drunk from all the festivities of the end year; I suggest you move budget making to mid-year You already have debt servicing exceed revenues; naira has issues; economy is sick; and instead of reducing the budget; they've doubled it? What magic will they use to finance it.

You must be thinking out of your ass again.

Foreign debt servicing is a measly 1.4 trillion. How and where did that exceed revenue? Or are you confusing Nigeria for Kenya.

Kenya is a failed state, Nigeria is a developing one. Our Revenue has been increasing on yoy basis, yours has been decreasing since 2018.

“For debt service, domestic debts (including Ways and Means) got N4.49 trillion; foreign debt was allocated N1.81 trillion; and sinking fund to retire maturing loans took N247.72 billion.“

rvp2018:
They must be drunk from all the festivities of the end year; I suggest you move budget making to mid-year You already have debt servicing exceed revenues; naira has issues; economy is sick; and instead of reducing the budget; they've doubled it? What magic will they use to finance it.

And that’s just the federal budget, when the various state finalises their budget latest by February, we should be expecting something close to 75 to 80 billion dollars.

I expect capital expenditure should be around 30-35 percent, that’s more money to spend on infrastructure than the whole Kenya budget, the gap between Nigeria and Kenya just keep getting wider.

You might not match our level of development in decades to come.

Shaytun:
Nigeria 2023 Federal budget of 50 billion Dollars the highest til date.

https://www.thisdaylive.com/index.php/2022/12/29/nassembly-passes-2023-budget-raises-proposed-spending-by-n1-32trn-to-n21-82trn/amp/

States also increased budgets across too. If we add all 36 states plus FCT, we are talking 60-70 Billion dollars or more. Lagos has a budget of 4 Billion dollars and about 3-4 other states I heard of had budgets over 1 Billion dollars this time. Some others around 250-500 million dollars.

GeneralDae2:
States also increased budgets across too. If we add all 36 states plus FCT, we are talking 60 Billion dollars or more. Lagos has a budget of 4 Billion dollars and about 3-4 other states I heard of had budgets over 1 Billion dollars this.

Yeah, Rivers state should be doing 2 billion dollars soon.

Frankly, Nigeria is not Kenyan mate.

Our tier 1 city is commissioning intra-city Rail, Nairobi their Tier 1 city does not even have a functioning BRT. They are still busing celebrating mutatu in the 21st century.

Shaytun:
You must be thinking out of your ass again.

Foreign debt servicing is a measly 1.4 trillion. How and where did that exceed revenue? Or are you confusing Nigeria for Kenya.

Kenya is a failed state, Nigeria is a developing one. Our Revenue has been increasing on yoy basis, yours has been decreasing since 2018.

“For debt service, domestic debts (including Ways and Means) got N4.49 trillion; foreign debt was allocated N1.81 trillion; and sinking fund to retire maturing loans took N247.72 billion.“

Kenya has a huge debt servicing problem and must do something urgently before 2024 when some of these Eurobond debts mature.
Nigeria just bailed out Ajaokuta steel with 500 million dollars, something the Kenyans borrowed recently from IMF.

GeneralDae2:
Kenya has a huge debt servicing problem and must do something urgently before 2024 when some of these foreign Eurobond debts mature.

They are defaulting, they don’t have money to pay those debt.

Their new president has been looking to sell a lot of state assets, even their stake in Kenya airways is being considered, the IMF just gave them 447 million dollars last week.

https://www.bloomberg.com/news/articles/2022-12-19/imf-approves-447-million-for-kenya-to-address-debt-reforms

The evidence from ASIA is staggering.
Yes, min wage, BEE, AA dont fix the root cause of the problem and we are in agreement.
I insist South Africans - millions - are too poor to afford cars - but can afford cheap Chinese scoters and bikes.

Why arent they not buying? Maybe they are not cheaply available? It's frankly intriguing if you're not lying that they are cheap.

You notice the same thing in Zambia, Zim, Botswana - they simply dry up and logistics become hectic - I have heard terrible stories of kenya truck drivers in Zambia - where you can spend a week in forest as you wait for spares parts - while anywhere in east Africa - there is always motorbike away- in Kenya, TZ, Rwanda and Uganda - and Nigeria - they are now also become as ubiquitous as Asia.

jl115:
I don't subliminally blame "black" ANC.... I 100% fully blame the ANC.

No evidence that motorcycles would lift SAns out of poverty..... What will 100% lift SA out of poverty is fixing Eskom(and expansion of IPPs) and implementing policies that will grow the economy and create jobs... Simple.

There is only one pro poor policy that actually works and that is the policy that creates jobs.... Minimum wage, BEE, AA ect ect don't work.

Open your google - then search "Nigeria debt servicing ratio 2022". Where will revenues come from? Oil prices are now dropping?

Shaytun:
You must be thinking out of your ass again.

Foreign debt servicing is a measly 1.4 trillion. How and where did that exceed revenue? Or are you confusing Nigeria for Kenya.

Kenya is a failed state, Nigeria is a developing one. Our Revenue has been increasing on yoy basis, yours has been decreasing since 2018.

“For debt service, domestic debts (including Ways and Means) got N4.49 trillion; foreign debt was allocated N1.81 trillion; and sinking fund to retire maturing loans took N247.72 billion.“

No, we don't have huge debt servicing problem - compared to Nigeria or Ghana.
We are doing at worse 55% - yes - we should do 33%.
We are growing revenues at double digit - this year we aim for 2.4 trillion in ordinary plus another 2-300 billion kshs in other revenues.
our debt services are about 1.2-1.4 trillion - and we will borrow 700B.
In short, the net debt services are really - about 600-700B.

As for bailout - we will bail out KQ for 500m dollars amongst other SOE.

And we are planning to sell 5 SOES. Remember we have like 200-300 SOES while Nigeria pretty much sold everything in 1990.

GeneralDae2:
Kenya has a huge debt servicing problem and must do something urgently before 2024 when some of these Eurobond debts mature.
Nigeria just bailed out Ajaokuta steel with 500 million dollars, something the Kenyans borrowed recently from IMF.

rvp2018:
No, we don't have huge debt servicing problem - compared to Nigeria or Ghana.
We are doing at worse 55% - yes - we should do 33%.
We are growing revenues at double digit - this year we aim for 2.4 trillion in ordinary plus another 2-300 billion kshs in other revenues.
our debt services are about 1.2-1.4 trillion - and we will borrow 700B.
In short, the net debt services are really - about 600-700B.

As for bailout - we will bail out KQ for 500m dollars amongst other SOE.

And we are planning to sell 5 SOES. Remember we like 200-300 SOES while Nigeria pretty much sold everything in 1990.

compare to Ghana and Nigeria, you're doing worse because your debt servicing is 70% of revenue and it's only going to grow next year to 85%.

All the economist in your country knows that you'll hardly hit 2 trillion kshs this year ending June

You're never serious - your 2023 resolution - should be to get serious with life.
Ground rules - facts are sacrosant.
Argue about theories, your own viewpoints, your assessment of situation.
But leave facts alone.

Then we can engage in an intellectual debate beneficial to you and me.

Just30:
compare to Ghana and Nigeria, you're doing worse because your debt servicing is 70% of revenue and it's only going to grow next year to 85%.

All the economist in your country knows that you'll hardly hit 2 trillion kshs this year ending June

rvp2018:
You're never serious - your 2023 resolution - should be to get serious with life.
Ground rules - facts are sacrosant.
Argue about theories, your own viewpoints, your assessment of situation.
But leave facts alone.

Then we can engage in an intellectual debate beneficial to you and me.

As usual, always not ready to deal with facts.

Bloomberg was the one that reported that your country is doing above 70% ....

Instead of crying here, go argue with them

South Africa leading with youth unemployment - yet they deride a motor cycle industry - whose value chain from manufacturing, repairs, driving & logistics - transport services - would probably employ more than a million.

Facts are sacrosanct.

Just30:
As usual, always not ready to deal with facts.

Bloomberg was the one that reported that your country is doing above 70% ....

Instead of crying here, go argue with them

rvp2018:
South Africa leading with youth unemployment - yet they deride a motor cycle industry - whose value chain from manufacturing, repairs, driving & logistics - transport services - would probably employ more than a million.

South Africa also has one of the lowest poverty figures in Africa, thanks to SASSA

And they probably won't

rvp2018:
Actually, it's less than that - maybe 13.5m now.
https://www.natis.gov.za/index.php/statistics/live-vehicle-population/live-vehicle-population-2021

Typical car ownership increase "rapidly" when GDP per capita hits 5,000usd.
Kenya is at least a decade from growing a motor vehicle industry.
For now Kenya should concentrate on motor cyles.

As for South Africa is upper middle class or simply middle class - indeed it's neither develop or developing - it can barely sell 0.5M car - Italy with same pop of 60m - does 1.5m cars annually. That difference btw middle-class country and high-income country.

My worry is South Africa income inequality - esp for blacks like you - 85% in rural areas dont own any car. 40% of all cars are in Gauteng. Your rural folks need motor bikes - because frankly - they cant afford cars. That is why again 85% of them cannot afford and relie on wheelbarrows.

Dont sneer at motor bikes - again.

Italy has long been a developed country, for decades.

Car ownership is not a problem when there's an efficient public transport.

Again I'm not in rural areas.

Again rual people don't have to travel that much thru can sustain their lives where they are, they are 18m compare to 40m in rural kenya

rvp2018:
Facts are sacrosanct.

like I said, go argue with Bloomberg

We are in 2022 and you're posting 2020 stuff?

Your debt servicing cost for the last financial year was 12 billion dollars which is 1.44 trillion kshs and your revenue service collected only 2.04 trillion kshs.

Youth and poor don't need welfare; they need jobs; they need economic opportunities;
Welfare should be for disabled, vulnerable, orphans, old, sickly, those dealing with natural disasters and etc.

You're killing south africans - making them dependant on social welfare - no wonder only immigrants work - the south africans are drinking cheap beer from SASSA

jl115:
South Africa also has one of the lowest poverty figures in Africa, thanks to SASSA

And they probably won't

Total revenue for year 2021/2022 - end of June - 2230.84 KES Billion - consisting of tax revenue of 2.031 trillion and 200 billion from other revenues like court fines, licensing fee, user fees, etc.

Just30:
like I said, go argue with Bloomberg

We are in 2022 and you're posting 2020 stuff?

Your debt servicing cost for the last financial year was 12 billion dollars which is 1.44 trillion kshs and your revenue service collected only 2.04 trillion kshs.

rvp2018:
Actually, it's less than that - maybe 13.5m now.
https://www.natis.gov.za/index.php/statistics/live-vehicle-population/live-vehicle-population-2021

Typical car ownership increase "rapidly" when GDP per capita hits 5,000usd.
Kenya is at least a decade from growing a motor vehicle industry.
For now Kenya should concentrate on motor cyles.

As for South Africa is upper middle class or simply middle class - indeed it's neither develop or developing - it can barely sell 0.5M car - Italy with same pop of 60m - does 1.5m cars annually. That difference btw middle-class country and high-income country.

My worry is South Africa income inequality - esp for blacks like you - 85% in rural areas dont own any car. 40% of all cars are in Gauteng. Your rural folks need motor bikes - because frankly - they cant afford cars. That is why again 85% of them cannot afford and relie on wheelbarrows.

Dont sneer at motor bikes - again.

Gauteng has majority of the population, I mean entire joburg population is 14m.

Bikes are cheap in SA, people just not find of them

rvp2018:
Youth and poor don't need welfare; they need jobs; they need economic opportunities;
Welfare should be for disabled, vulnerable, orphans, old, sickly, those dealing with natural disasters and etc.

You're killing south africans - making them dependant on social welfare - no wonder only immigrants work - the south africans are drinking cheap beer from SASSA

Again false claim without any backup

rvp2018:
Youth and poor don't need welfare; they need jobs; they need economic opportunities;
Welfare should be for disabled, vulnerable, orphans, old, sickly, those dealing with natural disasters and etc.

You're killing south africans - making them dependant on social welfare - no wonder only immigrants work - the south africans are drinking cheap beer from SASSA

There's record of successful businesses that were started of welfare cash.



Don't worry its documented that's why it's extended

You also need peer reviewed academic paper to backup the obvious
You've attacked immigrants so many times - mostly for taking your jobs.
Everyone know Zims are your workhorse - as you drink cheap beer.

Quote of the day

“there is no need to substantiate the obvious” ~ Jean Marie Seroney - a late Kenya politician

AfriqueDuZuid:
Again false claim without any backup

rvp2018:
South Africa leading with youth unemployment - yet they deride a motor cycle industry - whose value chain from manufacturing, repairs, driving & logistics - transport services - would probably employ more than a million.

Again majority of 15-18 year old are still in high school.


Youth unemployment counts from 15yrs, exclude them you'll realize it's not as high. In other countries 16 Yr old are finished with high school

15-35 are youth - and for employment - that applies everywhere.
In Kenya those in school/college 15-24yrs - are of course fewere than 24-35yrs.
In South Africa youth - (15-35) - 60% are unemployed.

Those are folks who should be driving motor bikes delivering goods and services .

AfriqueDuZuid:
Again majority of 15-18 year old are still in high school.


Youth unemployment counts from 15yrs, exclude them you'll realize it's not as high. In other countries 16 Yr old are finished with high school

rvp2018:
You also need peer reviewed academic paper to backup the obvious
You've attacked immigrants so many times - mostly for taking your jobs.
Everyone know Zims are your workhorse - as you drink cheap beer.

Quote of the day

“there is no need to substantiate the obvious” ~ Jean Marie Seroney - a late Kenya politician

Zims do slave work, they are not SA workforce.

Also there's no proof to your claims

There are only 10m formal jobs available in South Africa.

Your 15-65 population is almost 50 million.

Meaning 40 million have to create their own jobs or well stop deriding work as slavery or motor bikes as beneath them.

Then attack immigrants - and start looting.

You need to stop drinking beer and work. You have drug problem. You have a welfare laziness problem. You have low education problem.

AfriqueDuZuid:
Zims do slave work, they are not SA workforce.

Also there's no proof to your claims

rvp2018:
There are only 10m formal jobs available in South Africa.

Your 15-65 population is almost 50 million.

Meaning 40 million have to create their own jobs or well stop deriding work as slavery or motor bikes as beneath them.

Then attack immigrants - and start looting.

You need to stop drinking beer and work. You have drug problem. You have a welfare laziness problem. You have low education problem.

You haven't given a report that states east Asia economic growth is alluded to motorcycles.

You haven't given proof that rural SA needs motocycles

rvp2018:
There are only 10m formal jobs available in South Africa.

Your 15-65 population is almost 50 million.

Meaning 40 million have to create their own jobs or well stop deriding work as slavery or motor bikes as beneath them.

Then attack immigrants - and start looting.

You need to stop drinking beer and work. You have drug problem. You have a welfare laziness problem. You have low education problem.

Your entire rant about motorcycles is pointless is its unproven

rvp2018:
15-35 are youth - and for employment - that applies everywhere.
In Kenya those in school/college 15-24yrs - are of course fewere than 24-35yrs.
In South Africa youth - (15-35) - 60% are unemployed.

Those are folks who should be driving motor bikes delivering goods and services .

Give proof of the bolded

rvp2018:
The evidence from ASIA is staggering.
Yes, min wage, BEE, AA dont fix the root cause of the problem and we are in agreement.
I insist South Africans - millions - are too poor to afford cars - but can afford cheap Chinese scoters and bikes.

Why arent they not buying? Maybe they are not cheaply available? It's frankly intriguing if you're not lying that they are cheap.

You notice the same thing in Zambia, Zim, Botswana - they simply dry up and logistics become hectic - I have heard terrible stories of kenya truck drivers in Zambia - where you can spend a week in forest as you wait for spares parts - while anywhere in east Africa - there is always motorbike away- in Kenya, TZ, Rwanda and Uganda - and Nigeria - they are now also become as ubiquitous as Asia.

Of all the crazy arguments you've ever had on nairaland, this one on motorcycle is the only one in which you made the greatest sense.

In Nigeria I can buy 2 bikes at less than$1000 each, give them out to hired riders who their district association can vouch for. They deliver money to me everyday while making money everyday as well. I see a lot of them around. They eat well and drink almost every evening. Before a year runs out these hired riders can purchase their own bikes.

The very serious ones among them are building houses and giving their kids the kind of education they never got. The system has a very direct impact on local economies.

But like the South Africans are saying, their own society might be seriously different from the rest of subsaharan Africa.

rvp2018:
Youth and poor don't need welfare; they need jobs; they need economic opportunities;
Welfare should be for disabled, vulnerable, orphans, old, sickly, those dealing with natural disasters and etc.

You're killing south africans - making them dependant on social welfare - no wonder only immigrants work - the south africans are drinking cheap beer from SASSA

I actually agree...we subsidise unemployment.... It is one of the reasons we have such high unemployment, however it also the reason our poverty is relatively low