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KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 - Business (2) - Nairaland

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Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by DeLaRue: 3:12pm On May 19, 2023
And we are borrowing another $800 million from the World Bank to share to people.

Borrowing money to dash out is pure madness.

I barely sleep most nights as I fruitlessly consider all the various options to get the country out of the hole it has dug itself. And I am not even a politician.

And then I wake up one morning to news of another crook announcing that he has spent N200 billion printing papers and training fantom staff for a fictitious census sad

What kind of wahala have we got ourselves into in this country.

2 Likes

Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by Angelfrost(m): 3:12pm On May 19, 2023
Flick490:
Buhari has killed and buried Nigeria finally.
With all due respect, Buhari is the Dullest, conservative, analogue, incorrigible, dogmatic and adamant president Nigeria has ever had.

It's a pity and a huge embarrassment and disgrace to call BuBu Nigeria's President. He lacks basic knowledge of the structure of the Nigerian Economy.

Kinda late for that sir...!

Nigga just completed TWO whole tenures, and was duly elected by human beings, many of whom actually graduated from tertiary institutions!

2 Likes

Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by emmaitive(m): 3:13pm On May 19, 2023
and tiefnubu will still borrow him own join😃😃😃
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by Flick490(m): 3:16pm On May 19, 2023
Angelfrost:


Kinda late for that sir...!

Nigga just completed TWO whole tenures, and was duly elected by human beings, many of whom actually graduated from tertiary institutions!


I'm telling you bro. Nothing surprises me about Nigerians anymore. Never knew Buhari would even win a second term considering the hardship experienced in his first tenure. Again, I never knew sensible Nigerian youths who are well enlightened and educated would support and vote Tinubu ahead of OBI PETER. This means that, the masses are the problem of Nigerians and not the political elites

2 Likes

Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by onuman: 3:16pm On May 19, 2023
The Islamic bigots of Nigeria who want APC Muslim Extremists political party to continue to rule Nigeria after the party made Nigeria become the POVERTY CAPITAL of the world and one of the most terrorised countries on earth -- time has come for a Islamic Republic for the Muslim extremists in the two old regions of Nigeria 🇳🇬.
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by Angelfrost(m): 3:19pm On May 19, 2023
Flick490:



I'm telling you bro. Nothing surprises me about Nigerians anymore. Never knew Buhari would even win a second term considering the hardship experienced in his first tenure. Again, I never knew sensible Nigerian youths who are well enlightened and educated would support and vote Tinubu ahead of OBI PETER. This means that, the masses are the problem of Nigerians and not the political elites

Nigeria can never move forward with this set of human beings called citizens! NEVER!!!

Haven't you wondered why there is so much impunity among the ruling class??! They know most of the citizens will rather fight those calling them out than unite against their wrong-doing!

That's why Buhari can still hold his head high and talk rubbish after 8 years of poor leadership! If there was a third term, he would still amass millions of votes across the nation!

3 Likes

Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by MightySparrow: 3:20pm On May 19, 2023
Don't worry, Jagaban will turn the jagajaga to Eldorado.
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by Flick490(m): 3:22pm On May 19, 2023
Angelfrost:


Nigeria can never move forward with this set of human beings called citizens! NEVER!!!

Haven't you wondered why there is so much impunity among the ruling class??! They know most of the citizens will rather fight those calling them out than unite against their wrong-doing!

That's why Buhari can still hold his head high and talk rubbish after 8 years of poor leadership! If there was a third term, he would still amass millions of votes across the nation!

Exactly, in fact, if there was a fifth term, he would still contest and win. Some people may argue that elections in Nigeria are been marred with Irregularities and malpractices, but do these politicians not get voted at all? Youths vote them in. I'm tired of praying for Nigeria
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by Bigkoko: 3:22pm On May 19, 2023
This same people who connive to give him power to destroy the Nigerian economy is the same people he is handing over people to, infact to ku ku finish the little thread left. But sha..... the judiciary shall come to the rescue. The dishonored CJN; Ariwoola is just one ,man out of five judges!

dre11:
This is buhari last gift to the nation........ Debts upon Debts



https://www.thecable.ng/kpmg-nigeria-may-spend-over-100-of-its-revenue-on-debt-servicing-in-2023/amp
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by Akano5(m): 3:22pm On May 19, 2023
Diligent1:
That is the more reason why we need somebody like Asiwaju to govern Nigeria.

Tinubu is probably paying you 30k stipends, shift to the left joor
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by Angelfrost(m): 3:24pm On May 19, 2023
Flick490:


Exactly, in fact, if there was a fifth term, he would still contest and win. Some people may argue that elections in Nigeria are been marred with Irregularities and malpractices, but do these politicians not get voted at all? Youths vote them in. I'm tired of praying for Nigeria

Irregularities or not, many youths actually campaign for these people and vote massively for them...!

An average Nigerian is cursed with the inability to critically think and make great decisions, especially those in the Far North!
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by onuman: 3:24pm On May 19, 2023
God1000:
This is Buhari's legacy, a president without Vision and foresight

Someone should please tell me what Buhari has done with all the money he borrowed since 2015

Buhari's business in power is for two things: Fulanization and Islamization of entire Nigeria. Economy of Nigeria is of zero importance for Buhari.

Buhari's plot in 2023:
A possible 24 unbroken years of Muslim presidency for Nigeria.
Muslim to succeed Muslim as president of Nigeria, and Muslim-Muslim ticket first time since 1999.
All aimed at future Taliban-like war by Muslim extremists against rest of Nigeria.

Buhari vowed in 2001 in Kaduna that he will not relent until Islamic Sharia criminal laws are applied in all the states of Nigeria.
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by Flick490(m): 3:26pm On May 19, 2023
Angelfrost:


Irregularities or not, many youths actually campaign for these people and vote massively for them...!

An average Nigerian is cursed with the inability to critically think and make great decisions, especially those in the Far North!

I have given up on Nigeria already. The last election gave me a lot to ponder on. If only God can help me get out of this country, I will be glad. Some of us without anybody to help us are the biggest casualties of this misgovernance.

1 Like

Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by Diligent1(f): 3:31pm On May 19, 2023
Akano5:


Tinubu is probably paying you 30k stipends, shift to the left joor
I am not surprised at your allegation, that is how you said Apapa collected N500m from Tinubu. Obedients are bunch of liars.
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by Uchek(m): 3:37pm On May 19, 2023
Pont of correction. BUHARI/OSIBANJO LEGACY.


God1000:
This is Buhari's legacy, a president without Vision and foresight

Someone should please tell me what Buhari has done with all the money he borrowed since 2015
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by lexy2014: 3:37pm On May 19, 2023
theophorus:
Well it Simple... Just Increase Revenue.


From were?
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by Uchek(m): 3:39pm On May 19, 2023
Yet Ndi-Yoruba voted for him and still defens his historic FAILURE.

Flick490:
Buhari has killed and buried Nigeria finally.
With all due respect, Buhari is the Dullest, conservative, analogue, incorrigible, dogmatic and adamant president Nigeria has ever had.

It's a pity and a huge embarrassment and disgrace to call BuBu Nigeria's President. He lacks basic knowledge of the structure of the Nigerian Economy.
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by Twhyhenry8296: 3:49pm On May 19, 2023
DeLaRue:
And we are borrowing another $800 million from the World Bank to share to people.

Borrowing money to dash out is pure madness.

I barely sleep most nights as I fruitlessly consider all the various options to get the country out of the hole it has dug itself. And I am not even a politician.

And then I wake up one morning to news of another crook announcing that he has spent N200 billion


printing papers and training fantom staff for a fictitious census sad

What kind of wahala have we got ourselves into in this country.



We made a grievous mistake by electing Buhari cos he’s not even qualified to be a local government councillor not to talk of president. I weep for Nigeria cos this might be the beginning of the end if nothing is done about it’s present precarious state.
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by Elev82014: 3:49pm On May 19, 2023
I hope this serves as an eye-opener to all the B0K0HARI idiots and unity beggars who love their Nigeria so much that they are blind to the enormity of the financial crisis facing the failed country. You and your generation unborn would NEVER finish paying the debt brought on by your so-called leaders, especially B0K0HARI.
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by Nairanation2: 3:51pm On May 19, 2023
We don't need a soothsayer to see this. Buhari is incredibly d worst of all that's happened or will happen to Nigeria. D country has been on auto-pilot ever since & we can't wait to start a new govt. Unfortunately, all his mismanagement & ineptitude can't be undone & will probably take decades for d country to find its bearing again. Buhari's case can be likened to a man wey konji dey hold & no woman is readily available to help. D man go dey look for any woman to quench his appetite. After getting d sex, Im body go just calm down.
He contested many times without success. One would think he'd sth special to offer d country or would do sth different, alas, he made a complete mess of everything... An indescribable failure & epic disaster. He's now saying he'll retire gently to his home town after getting what he wanted... Power. Ẹranko!

1 Like

Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by onegig(m): 3:54pm On May 19, 2023
God1000:
This is Buhari's legacy, a president without Vision and foresight

Someone should please tell me what Buhari has done with all the money he borrowed since 2015

1) 3 Trillion yearly on subsidy x 8 = N24 Trillion naira in 8 years
2) Debt relief for states and Cash payments to help settle salaries during Covid19 - Prolly N6Trillion
3) Debt servicing from previous governments that's dollar domiciled but now doubled due to exchange rate moving from N180 to N420 .
4) Standard railway completed for Lagos-Ibadan, Abuja-Kaduna, Warri-Itakpe (China's Nexim Bank)
5) Sukuk Bonds for the reconstruction of roads.
6) Equipping the army,navy, air force to counter the Boko Haram insurgency. We all hear of the different Airframes, helicopter, tanks, Gun boat purchases . Also prosecuting an Insurgency that has lasted more than a decade costs money.

That gives you a summary of where these funds went to. Yeah there is corruption but the bulk of such debts are centered around recurrent things that we should do without. First is cutting off Subsidies and next is restructuring the public service to run a more lean and efficient government else we would just continue multiplying the debt burden without implementing any impactful capital projects.
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by TOMMYS: 3:55pm On May 19, 2023
Kudos to sinze money. Representing the Fulani to the fullest
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by GreatrAnalyst: 4:03pm On May 19, 2023
They said BAT is coming right?
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by God1000(m): 4:05pm On May 19, 2023
onuman:


Buhari's business in power is for two things: Fulanization and Islamization of entire Nigeria. Economy of Nigeria is of zero importance for Buhari.

Buhari's plot in 2023:
A possible 24 unbroken years of Muslim presidency for Nigeria.
Muslim to succeed Muslim as president of Nigeria, and Muslim-Muslim ticket first time since 1999.
All aimed at future Taliban-like war by Muslim extremists against rest of Nigeria.

Buhari vowed in 2001 in Kaduna that he will not relent until Islamic Sharia criminal laws are applied in all the states of Nigeria.
too bad bro
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by nedekid: 4:14pm On May 19, 2023
FalseProphet1:
Expect massive hike in everything once Tinubu steps in.

From Tariff to taxes, import duty, university tuition fee...etc.

Get ready to face reality Nigerians.

This I have seen.
Just as one politician said he was richer that Osun state, that their money was not enough for him.
On the federal level, I doubt the whole countrys money will be enough to feed his belle, his immediate family that have very high taste, a 21 year old buys a $2m house, a 25 year old, $2.5m, Flat, a 30 year old $11m house. Their belle big.
Then you have all the politicians, ex governor, senators, aides and the thousands that will claim they worked for the victory, all need to be settled, their belles need "food". By the time the money goes round, it may be crumbs, leftover remaining 200m Nigerians to share.
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by bbode1(m): 4:41pm On May 19, 2023
The national assembly should pass a law to set a limit to which a government can borrow.
And if they must borrow, what exertly the money should be used for. We need more of capital expenditure.
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by oluwasegun007(m): 4:44pm On May 19, 2023
That's for a country ready to pay back...

First is, just like OBJ did, Tinubu will be going from country to country begging for leniency...

Second VAT will be increased to 10%

Lastly, subsidy will be removed.

Tougher dayz ahead for the people.
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by VTJN(m): 5:35pm On May 19, 2023
lexy2014:


Ask those supporting Tinubu. Am sure they can tell you
if they support Obi or if paradventure Obi had won the election would you provide answer to his question?
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by VTJN(m): 5:42pm On May 19, 2023
onegig:


1) 3 Trillion yearly on subsidy x 8 = N24 Trillion naira in 8 years
2) Debt relief for states and Cash payments to help settle salaries during Covid19 - Prolly N6Trillion
3) Debt servicing from previous governments that's dollar domiciled but now doubled due to exchange rate moving from N180 to N420 .
4) Standard railway completed for Lagos-Ibadan, Abuja-Kaduna, Warri-Itakpe (China's Nexim Bank)
5) Sukuk Bonds for the reconstruction of roads.
6) Equipping the army,navy, air force to counter the Boko Haram insurgency. We all hear of the different Airframes, helicopter, tanks, Gun boat purchases . Also prosecuting an Insurgency that has lasted more than a decade costs money.

That gives you a summary of where these funds went to. Yeah there is corruption but the bulk of such debts are centered around recurrent things that we should do without. First is cutting off Subsidies and next is restructuring the public service to run a more lean and efficient government else we would just continue multiplying the debt burden without implementing any impactful capital projects.
I'm not disputing your claim bro

But with all of these, the suffering of an average Nigerians doubled more under Buhari. Unemployment increased. Jobless youths littered everywhere. Insecurity, corruption, hyperinflation to mention but few
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by lexy2014: 5:46pm On May 19, 2023
VTJN:
if they support Obi or if paradventure Obi had won the election would you provide answer to his question?

What's the relationship between your question and the comment you responded to? Does your question negate the comment?

Ask those supporting Tinubu. Am sure they can tell you
Re: KPMG: Nigeria May Spend Over 100% Of Its Revenue On Debt Servicing In 2023 by VTJN(m): 5:51pm On May 19, 2023
lexy2014:


What's the relationship between your question and the comment you responded to? Does your question negate the comment?

Buhari achievement you directed him to Tinubu supporters. Are they the only ones Buhari governed or you're angry at their choice of candidate and luckily their choice won?
Or was it because Tinubu won on the same party platform as Buhari?

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