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Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria - Politics - Nairaland

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Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by ekolobaba: 1:46am On Feb 21, 2023
Investors Already Bet Nigeria’s Next Leader Has No Chance of Fixing Fiscal Crisis

Bloomberg) -- Nigeria’s bond market is already betting that the nation’s next leader — whoever it is — won’t be able to repair the shambles left by the previous administration.

Africa’s most populous country is in the midst of a fiscal crisis, driven by soaring debt service payments that will soon cost more than the government generates in revenue. The three main candidates vying to replace outgoing President Muhammadu Buhari at an election on Saturday have promised to right the ship, but bond performance suggests investors aren’t buying it.

Nigeria’s dollar bonds have declined 6.8% over the past month, exceeding the average drop of 1.9% in a Bloomberg index of emerging-market peers. The extra yield investors demand to hold Nigerian dollar debt rather than US Treasuries has risen by about 136 basis points to 817 basis points. That’s less than 200 basis points from levels traders considered “distressed.”

“Nigeria’s current economic troubles are the culmination of a multiyear slide that began under previous administrations and accelerated under President Buhari,” said Patrick Curran, a senior economist at Tellimer Ltd., a firm that specializes in emerging-market research. “The key difference is that with debt service absorbing over 100% of federally-retained revenue, there is a far shorter runway to turn things around.”

Six Charts Show the Challenges Facing Nigeria’s Next Government

The Nigeriand Budget Office and Finance Ministry didn’t immediately respond to requests for comment on Monday.

Parting Gift

Under Buhari, Nigeria’s total debt stock exploded more than six-fold to about 77 trillion naira ($167 billion), or 40% of GDP. Much of that came in one fail swoop at the very end of his tenure, when he tucked an extra $50 billion onto the state debt pile, leaving future administrations to pay for the overdrafts his government took from the central bank over its eight years in power.

Concerns over economic stability have put the naira under pressure, and it fell to a record low of 461.78 against the dollar last week in the official market, where the rate is tightly controlled, and 755 on the widely-used black market. The cost to insure Nigeria’s debt against default using credit default swaps has also jumped, from 644 basis points at the beginning of the month, to 728.

https://finance.yahoo.com/news/investors-already-bet-nigeria-next-110005845.html?guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvLnVrLw&guce_referrer_sig=AQAAAAdNByyGucFMTte9MyGeSDx4agq4drJd07LZY2-evZWW69lKThsJ5jA5vEiOPoYBtjb515couRRW04lpS1Ag7lSXRnnKcP7WfitIrxvSgPMqHxkTefvkwWYcoHmNw9xa0ERmgucQR9byd9783gbbdXOtxFvdWeTwTvo_VEAkxmNz
Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by ekolobaba: 1:49am On Feb 21, 2023
I’m Igbo and this is why I’m telling anyone who cares to listen, DON’T VOTE OBI. Obi couldn’t fiscally run Omanbala and Hero beer, how will run Nigeria?

Only Tinubu can save Nigeria with his blueprint in Lagos by decentralisation of the economy and structure.

7 Likes 7 Shares

Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by Zelenskyy(m): 1:49am On Feb 21, 2023
Investors are not God

Atiku Abubakar is the next President of the Federal Republic of Nigeria

1 Like

Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by Penguin2: 1:51am On Feb 21, 2023
ekolobaba:
I’m Igbo and this is why I’m telling anyone who cares to listen, DON’T VOTE OBI. Obi couldn’t fiscally run Omanbala and Hero beer, how will run Nigeria?

Only Tinubu can save Nigeria with his blueprint in Lagos by decentralisation of the economy and structure.
You are not Igbo sir!

Eat your corn 🌽 in peace, nobody will beat you.

About Bloomberg’s bet, if there’s any iota of truth to the report, then let me remind you that bet is 50:50.

But I assure you that Obi will disappoint the bookmakers predicting doom.

41 Likes 5 Shares

Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by Urheadmaster(m): 1:52am On Feb 21, 2023
Urchin tongue
ekolobaba:
I’m Igbo and this is why I’m telling anyone who cares to listen, DON’T VOTE OBI. Obi couldn’t fiscally run Omanbala and Hero beer, how will run Nigeria?

Only Tinubu can save Nigeria with his blueprint in Lagos by decentralisation of the economy and structure.

21 Likes 1 Share

Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by Ogene001: 2:00am On Feb 21, 2023
Vote for Peter Obi for better economy

13 Likes 2 Shares

Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by Winterhaven(m): 2:03am On Feb 21, 2023
Well it's obvious none of the three candidates can fix Nigeria
- it'll require someone who cares about the people to do that.
Atiku and Tinubu are proven thieves who only care about
looting the country dry for their personal gain.

When it comes to igbos and money, only one outcome. Many igbos love money more than their children, so don't expect Obi to fix Nigeria. Only God can fix Nigeria presently.

2 Likes

Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by ekolobaba: 2:20am On Feb 21, 2023
Winterhaven:
Well it's obvious none of the three candidates can fix Nigeria
- it'll require someone who cares about the people to do that.
Atiku and Tinubu are proven thieves who only care about
looting the country dry for their personal gain.

When it comes to igbos and money, only one outcome. Many igbos love money more than their children, so don't expect Obi to fix Nigeria. Only God can fix Nigeria presently.

Nwoke, the mob will call you urchin and yoruba muslim for telling them the truth.

I co-sign your comment about the 3 candidates. The only reason I suggested Tinubu is because the glass is half-full due to Lagos factor. But he’s also a terrible candidate.
Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by ResidentSnitch(f): 2:29am On Feb 21, 2023
ekolobaba:
I’m Igbo and this is why I’m telling anyone who cares to listen, DON’T VOTE OBI. Obi couldn’t fiscally run Omanbala and Hero beer, how will run Nigeria?

Only Tinubu can save Nigeria with his blueprint in Lagos by decentralisation of the economy and structure.
You just registered a new monicker like few days ago and became Igbo...
Afonja conehead, clap for yourself.

6 Likes 1 Share

Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by SmartPolician: 2:36am On Feb 21, 2023
This title is very disgraceful and insulting.

Imagine: The title shows how white people see the black people - a race without common sense, and we keep proving them right.

This is quite unfortunate.

2 Likes

Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by ekolobaba: 2:38am On Feb 21, 2023
ResidentSnitch:

You just registered a new monicker like few days ago and became Igbo...
Afonja conehead, clap for yourself.

Efulefu.
Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by Trapnews: 3:16am On Feb 21, 2023
grin
Nigerians allowing Igbos decide their next president.
Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by RichAbujaGuy: 3:34am On Feb 21, 2023
I tire of Bloomberg always in Naija business.
Him or his media empire don't bother with the mess going on with his peepo.

Israel is on the road to dictatorship
Opinion by Arye Carmon, Opinion Contributor • 9h ago
58 Comments

The deep rift over the ruling coalition’s malicious effort to undermine the foundations of democracy in Israel offers an exceptional opportunity to highlight some of the basic concepts of Israeli democracy, its vulnerability and the dangers to its very existence. Three of the key components of this malicious effort, presented in the guise of “judicial reform,” are:

https://www.msn.com/en-us/news/politics/israel-is-on-the-road-to-dictatorship/ar-AA17IyTD?ocid=msedgntp&cvid=5c76ebe4978e408ab2260a908eff983a
Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by Paperwhite(m): 3:48am On Feb 21, 2023
ekolobaba:
I’m Igbo and this is why I’m telling anyone who cares to listen, DON’T VOTE OBI. Obi couldn’t fiscally run Omanbala and Hero beer, how will run Nigeria? Only Tinubu can save Nigeria with his blueprint in Lagos by decentralisation of the economy and structure.
Tinubu whose economic policy Kemi Adeosun said Buhari used and landed Nigerian economy in this comatose state. You also seems to have forgotten Tinubu proudly said he made Buhari president? Do you know the implications of those statements. This is not the era of black and white TV.

These white imperialists have forgotten that even Britain and US economy were in the Iimbo since COVID-19.So what gave them the assurance to say this kind of shit?

2 Likes

Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by Urchinpainer: 4:16am On Feb 21, 2023
Obi will fix Nigeria.
Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by ResidentSnitch(f): 4:20am On Feb 21, 2023
ekolobaba:
I’m Igbo and this is why I’m telling anyone who cares to listen, DON’T VOTE OBI. Obi couldn’t fiscally run Omanbala and Hero beer, how will run Nigeria?

Only Tinubu can save Nigeria with his blueprint in Lagos by decentralisation of the economy and structure.
Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by Ndubuisipaul1: 4:26am On Feb 21, 2023
let God speak first
Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by kk2027: 4:28am On Feb 21, 2023
ekolobaba:
I’m Igbo and this is why I’m telling anyone who cares to listen, DON’T VOTE OBI. Obi couldn’t fiscally run Omanbala and Hero beer, how will run Nigeria?

Only Tinubu can save Nigeria with his blueprint in Lagos by decentralisation of the economy and structure.


If you like, claim to be Peter Obi's younger brother sef, Bulaba is not in the race

Its either Obi or Atiku
Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by franchasofficia: 4:29am On Feb 21, 2023
Okay
Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by CSTRR: 5:27am On Feb 21, 2023
ekolobaba:
I’m Igbo and this is why I’m telling anyone who cares to listen, DON’T VOTE OBI. Obi couldn’t fiscally run Omanbala and Hero beer, how will run Nigeria?

Only Tinubu can save Nigeria with his blueprint in Lagos by decentralisation of the economy and structure.
Peter obi managed fidelity bank and two other banks in his 40s.

Give me one thing tinubu has managed outside govt.

Wealth without enterprise.

1 Like

Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by onatisi(m): 6:01am On Feb 21, 2023
to be honest with ourselves, this is something we all know, the problems that Buhari and his APC govt will be leaving on the ground when leaving will only take a miracle to be resolved in 6- 10 years and that is if only we are lucky to have a good government in power.
that is why this election is very very important THE PRESENT STATE WHICH NIGERIA IS AT NOW, WE HAVE NEVER BEEN IN THIS CRITICAL POSITION BEFORE, IF WE MAKE THE MISTAKE OF VOTING IN THE WRONG PERSON, THERE IS NO TWO WAYS ABOUT IT , NIGERIA WILL BE GONE, REASON WHY WE ARE SAYING WE NEED A PRESIDENT WHO WILL NOT COMPOUND THE ISSUES ON GROUND BUT RATHER HELP IN SETTING THE RECOVERY MOTION IN PLACE.
THERE IS NO MIRACLE ANY OF THE CANDIDATES CAN PERFORM THAT WILL STOP THESE 3 THINGS, DOLLAR RATES WILL INCREASE, THEY WILL DEVALUE THE NAIRA, FUEL PRICE INCREASE BECAUSE THEY WILL REMOVE SUBSIDIES, THEY WILL INCREASE TAXES ON PEOPLE AND PROBABLY SACK PEOPLE TOO
ACCORDING TO REPORTS, BUHARI IS SET TO LEAVE BEHIND A WHOOPING 77 TRILLION NAIRA DEBT AND THAT IS EVEN IF IT DOESN'T GO BEYOND THAT BEFORE MAY 29.
we just have to get it right this time and that is why we can't afford to have a mentally and physically sick old man as president, that would be detrimental to the survival of Nigeria. HONESTLY I think it is madness for anyone to want to be president at this stage because he or she will be blamed for all the effects of Buhari failures, it is better not to raise people's hopes high because the situation on the ground is critical

Zelenskyy:
Investors are not God

Atiku Abubakar is the next President of the Federal Republic of Nigeria

2 Likes 1 Share

Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by aylive02(m): 6:07am On Feb 21, 2023
ekolobaba:
I’m Igbo and this is why I’m telling anyone who cares to listen, DON’T VOTE OBI. Obi couldn’t fiscally run Omanbala and Hero beer, how will run Nigeria?

Only Tinubu can save Nigeria with his blueprint in Lagos by decentralisation of the economy and structure.
. You're an urchin bro

2 Likes

Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by Adaisback(f): 6:24am On Feb 21, 2023
This white people are very wicked. They have started to become jittery. Why are they becoming jittery. Peter obI will win and he will fix Nigeria very well more than you can think of. It's peter Obi that made sure we slept peacefully in Anambra state with our two eyes closed
Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by BluntTheApostle(m): 6:34am On Feb 21, 2023
Adaisback:
This white people are very wicked. They have started to become jittery. Why are they becoming jittery. Peter obI will win and he will fix Nigeria very well more than you can think of. It's peter Obi that made sure we slept peacefully in Anambra state with our two eyes closed


Ada, don't be delusional.


One man cannot fix Nigeria.




If any man can ever make an attempt, it would be Asiwaju Bola Ahmed Tinubu.
Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by Adaisback(f): 6:47am On Feb 21, 2023
BluntTheApostle:



Ada, don't be delusional.


One man cannot fix Nigeria.




If any man can ever make an attempt, it would be Asiwaju Bola Ahmed Tinubu.
how much did he that old sick man paid you? That man fit forget una monthly allowance o. This thing wey una dey carry play like this , get repercussion o
Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by Cantonese: 7:10am On Feb 21, 2023
ekolobaba:
I’m Igbo and this is why I’m telling anyone who cares to listen, DON’T VOTE OBI. Obi couldn’t fiscally run Omanbala and Hero beer, how will run Nigeria?

Only Tinubu can save Nigeria with his blueprint in Lagos by decentralisation of the economy and structure.


"Igbo" man. Tell us what YOU are able to do as a young man at your present age. Obi and Tinubu at your age were already achievers.

Mr NFA, surely your own Igbo must be related to hemp smoking and not the tribe.

Olodo. If not for tribal foolishness and your stupid "baba so pe" mentality, how would you create a moniker with the sole intention of insulting the people of the SE?
Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by SmartPolician: 7:25am On Feb 21, 2023
Adaisback:
This white people are very wicked. They have started to become jittery. Why are they becoming jittery. Peter obI will win and he will fix Nigeria very well more than you can think of. It's peter Obi that made sure we slept peacefully in Anambra state with our two eyes closed

The way black people think is terribly disturbing and disappointing, to say the least.

Someone is throwing you a challenge that your next leader cannot fix your country, and all you can think of is that they are jittery. Jittery over what exactly?

This is the same reason Nigerians use tribalism, bigotry and religious fanaticism to destroy a country they don't even believe in, but turn around only to blame it on the white man.

I think the most logical and sensible way to react to this comment is for the next leader of Nigeria to show these Caucasians that he can fix this contraption, not saying that they are jittery.
Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by inoki247: 7:29am On Feb 21, 2023
Economy wey dem Buhari don use Anti People policy kill the next person must first reverse doz stupid policy before anything can even work....

And the results of his bad policy go even take time before e clear wen dem don use the policy destroy Alot of things...
Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by NSNO(m): 7:39am On Feb 21, 2023
SmartPolician:

This is the same reason Nigerians use tribalism, bigotry and religious fanaticism to destroy a country they don't even believe in, but turn around only to blame it on the white man.

I think the most logical and sensible way to react to this comment is for the next leader of Nigeria to show these Caucasians that he can fix this contraption, not saying that they are jittery.

i like this your comment.

1 Like

Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by pandax: 7:43am On Feb 21, 2023
ekolobaba:
I’m Igbo and this is why I’m telling anyone who cares to listen, DON’T VOTE OBI. Obi couldn’t fiscally run Omanbala and Hero beer, how will run Nigeria?

Only Tinubu can save Nigeria with his blueprint in Lagos by decentralisation of the economy and structure.

Nwanne, kedu onuku gi na owiwa anyanwu?
Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by udemzyudex(m): 8:00am On Feb 21, 2023
So we should continue with Buhari right?

All of them for that Bloomberg and the investors dey craze.
Re: Bloomberg: Investors Already Bet Nigeria’s Next Leader Can’t Fix Nigeria by techWriter3: 8:11am On Feb 21, 2023
approve for politician for better recession

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