₦airaland Forum

MEEVEET:
Buhari left the economy at 377 billion
Your jagaban reduced it from 377 billion to 188 billion in 2 years

Sorry no vex

Racoon:
@StatiSense

They'd always say "16 years of PDP misrule" It's pathetic!

Aswear this is just a declaration of war, APC should be ready for trouble. They have doom Nigeria for real and there should be no forgiveness for them

Racoon:
@StatiSense

This is what worries me here.

Dangote is worth $23.6 billion which is about 12.5% of Nigeria's economy, according to your figures.

His equivalent in USA (land of the billionaires) will be $3.76 trillion Such a person does not exist

The combined net worth of all the 902 billionaires in USA is $6.72 trillion. Therefore, a person like Dangote in the USA will mean that at least 451 current billionaires in USA will not be billionaires.

Make of it what you will.

Racoon:
These are the useless fellas that wants to build a trillion naira economy who rather have ended up wrecking a thriving economy from $494.31 billion in 2015 to $188.27 billion in 2025 over a 10 years gap.

Even SA seating atop today is still finding it difficult to beat Nigeria's old record of 10 years ago, though they have diversify their economy. Meanwhile, it is the irony back here. APC shrank not only the economy, but as well as the people living in Nigeria.

Follow with your brain.
How it started

Obj handed a debt free nation to Jonathan yaradu, Jonathan saw the highest money in Nigeria history,left the nation with debt and still delapitated our reserve to the point that 23 states were unable to pay salary due to low FAAC.


They economy was good yet 23 states can't pay salaries,how.Buhari has to come to borrow money called bail out for state to pay

IPIGSRSHALLOW:
Still crying and wailing on useless figures.

What was Nigeria producing in 2015 to have a 400 billion economy? 98 percent was oil, and the price of oil was much higher then.

In 2015, Nigeria wasn't borrowing recklessly like Buhari and Tinubu. Nigeria debt profile was very low in 2015.

sulaak:
In 2015, Nigeria wasn't borrowing recklessly like Buhari and Tinubu. Nigeria debt profile was very low in 2015.

Nigeria was borrowing to pay salaries in 2015 under Jonathan and Nwela. Go and verify.
Nigeria was dead broke.
You people with very short and bad memories think that we are suffering from acute amnesia.
Go and very that one then come back for more facts from 2015.

Paramount01:
Follow with your brain.
How it started

Obj handed a debt free nation to Jonathan yaradu, Jonathan saw the highest money in Nigeria history,left the nation with debt and still delapitated our reserve to the point that 23 states were unable to pay salary due to low FAAC.


They economy was good yet 23 states can't pay salaries,how.Buhari has to come to borrow money called bail out for state to pay

Buhari didn't have to borrow over $40 billion or mortgage the country's oil export. It was under Buhari that Nigeria's oil export fell to under 1 million a day. Buhari was a disaster; he closed the country's borders, thinking Nigeria was self-sufficient in food production, only to lead the country to high food inflation. Tinubu has continued where Buhari started and gutted the GDP further.

sulaak:
Buhari didn't have to borrow over $40 billion or mortgage the country's oil export. It was under Buhari that Nigeria's oil export fell to under 1 million a day. Buhari was a disaster; he closed the country's borders, thinking Nigeria was self-sufficient in food production, only to lead the country to high food inflation. Tinubu has continued where Buhari started and gutted the GDP further.

He borrowed to clear emergency mess of Jonathan by bailing state out.jonaathan saw money yet he left the country with plenty debt, refinary he did not do,light he did not do ,ASSU he did not solve ,abeg wating he now do with the Money

IPIGSRSHALLOW:
Nigeria was borrowing to pay salaries in 2015 under Jonathan and Nwela. Go and verify.
Nigeria was dead broke.
You people with very short and bad memories think that we are suffering from acute amnesia.
Go and very that one then come back for more facts from 2015.

Why don't you share a graph of Nigeria's public debt in 2015, 2023, and 2025? Nigeria's external debt in 2015 was $10 billion. Under Buhari, it increased to $41 billion, with NNPC debt totalling $21 billion through forward sales of Nigerian crude oil.

Under Buhari, the country's GDP fell to $310 billion, and we had two recessions. There was no growth pattern under Buhari; this has only worsened by Tinubu's disastrous continuation of Buhari's policy.

The GEJ was borrowing in Naira. The Buhari government stated the external borrowing of Eurobonds at 8-11%. The excuse was that it was cheaper to borrow externally.

Under the Buhari government, oil exports fell to 900,000 per day, and the Buhari government started the forward sale of the country's oil with Africaexim bank.

Paramount01:
He borrowed to clear emergency mess of Jonathan by bailing state out.jonaathan saw money yet he left the country with plenty debt, refinary he did not do,light he did not do ,ASSU he did not solve ,abeg wating he now do with the Money

You are part of Nigeria's problem.

Below is Buhari debt profile in 2020! ($28 billion) By 2023, Nigeria will have doubled its external debt, and Nigeria will have spent $20 billion subsidising fuel imports. This is a man who said fuel subsidies is stealing yet he spent more money on fuel subsidies than any Nigerian president.

From Obasanjo to Buhari… how FG’s debt profile surged 658% to N26.9trn in 21 years

HOW MUCH BUHARI BORROWED IN 6 YEARS
The Budget Office’s medium-term expenditure framework and fiscal strategy paper from 2015 showed that the Buhari-led administration incurred N7.63 trillion in domestic debt from June 2015 to December 2020.

Advertisement
On external borrowings, President Buhari increased debt from $7.3 billion in 2015 to $28.57 billion as of December 2020. This means that the president incurred $21.27 billion on foreign loans to the country’s debt portfolio.

The country’s exchange rate moved from N197 to a dollar in 2015 to N381 at the end of December 2020.

Paramount01:
He borrowed to clear emergency mess of Jonathan by bailing state out.jonaathan saw money yet he left the country with plenty debt, refinary he did not do,light he did not do ,ASSU he did not solve ,abeg wating he now do with the Money

I am still waiting for your defence that Buhari borrowed to clear the debt?

Nigeria's NNPC spent $10 billion on fuel subsidy in 2022

Nigeria's NNPC spent 4.39 trillion naira ($9.7 billion) on a petrol subsidy last year, latest data from the state-owned firm showed on Friday, a cost the government has blamed for dwindling public finances.

Finance minister Zainab Ahmed has said the country will keep its costly but popular petrol subsidy until mid-2023 and set aside 3.36 trillion naira ($7.5 bln) to spend on it.
($1 = 453.09 naira)

https://www.reuters.com/business/energy/nigerias-nnpc-spent-10-billion-fuel-subsidy-2022-2023-01-20/

Tinubu will handle economy, shetima will handle security.

Why will you use a projected figure? Why not just do a 2014/2024 comparison?
I honestly don’t believe any thing the meo-colonial IMF/World Bank says anymore. They always have an agenda and it is never in Africa’s favor.

I remember those days naira was 120 to the dollar and pounds 240 ..now we are here

[quote author=Racoon post=135087270][/quote]I don't know why Nigerians never learn, I confirmed that during Buhari's efforts to be president. They see all the signs but purposely choose to ignore it. This one was even clearer, he told them exactly what he would do and showed them his mental capacity, yet they let him rig himself to power and did nothing. Some of those things are:
1. "Just print money..." He had proferred this as a solution to enrich the country, how shallow. And unfortunately, that was the same thing Buharis did.
2. "Slow down the economy and reduce their purchasing power..." only dullards misunderstood this, but he said without even coming out later to make clarifications.
3. "it is my turn..." Who has ever used this as a reason for vying for a political position? It simply tells one thing, he never had it in mind to make anything good out of Nigeria.
4. "Bala blu..." This clearly showed his brain was in a mess, such incoherence that attends heavy drug abuse.
5. "I will continue from where Buhari stopped..." We all knew buhari was taking us backwards, yet he proposed to continue the downward trend, which he fulfilled.

I can go on and on.

Personally I don't believe that figure. Politics and whatever aside, Nigeria GDP under $200b? No. Where's the impact of Dangote refinery, to some extent we now feed ourselves, we're now doing some light manufacturing, cables, speakers, solar panels, etc where're the impacts of those? Our brothers in the East are now churning out locally made shoes, ceramics, bolts and nuts, tyres etc per minutes where're the impacts? Come to service sector, telecommunications, ICT, all those online jobs we're doing, make we no add Yahoo o. Something is amiss. Even if naira is floating not like comparing Nigeria GDP to below $200b, no. I'm even suspecting the sudden interest of IMF in our issue recently, the thing no clear me. In all, God bless Nigeria.

Agbegbaorogboye:
I'm surprised LegendHero did not see this to publish from statisense

Instead, he's using an alternate moniker to comment on the thread

I've been looking for all those popular APC Monika since

Na statissence we go chop?

Racoon:
These are the useless fellas that wants to build a trillion naira economy who rather have ended up wrecking a thriving economy from $494.31 billion in 2015 to $188.27 billion in 2025 over a 10 years gap.

Even SA seating atop today is still finding it difficult to beat Nigeria's old record of 10 years ago, though they have diversify their economy. Meanwhile, it is the irony back here. APC shrank not only the economy, but as well as the people living in Nigeria.

The country started drowning after Buhary took over from Jonathan.

Racoon:
@StatiSense

By the end of 2015, Nigeria's economy stood at 95.4 trillion naira.
In 2025, Nigeria's economy stands at 301.23 trillion naira.
Tell them to quote our economy in naira. Our currency is naira not dollars!!

Tzar:
Why will you use a projected figure? Why not just do a 2014/2024 comparison?
I honestly don’t believe any thing the meo-colonial IMF/World Bank says anymore. They always have an agenda and it is never in Africa’s favor.

That's my point exactly.
Those guys are using these reports to manipulate everything in Africa.
Why should we even talk about our economy in dollars? It's just sad that those who have the authority to turns things around aren't looking at it the way we look at things. If we can fix these security issues way and manner, and produce what we eat, we'll care less what the exchange rate is.
The priority of an average Nigerian is to afford the basic things of life.
Unfortunately, the greed and corruption of our politicians have made even the basic things appear luxurious.

To be fair, using the dollars to assess most emerging economies is grossly unfair especially at nominal GDP. The narrative should be on purchasing power parity. The Chinese economy is the world's biggest based on PPP and is also is the world's factory.

The major problem with our economy is the overdependence on oil as a the major foreign earner.

Exchange rate is one if the major reason for the drop in positioning of the economy.
The Naira can only buy fewer dollars than it could in 2015 .

4th ke? Na 5th position ooo as basic things like food, transportation ( intra and intercity), power supply etc are hard to access. If the economy is doing fine, it's when dollar seem to be traumatized that is when Naira should be proving to be strong but instead Naira isn't pulling it's weight enough..... It's 'minders' are not putting in their optimal best in resuscitating it.

IPIGSRSHALLOW:
Still crying and wailing on useless figures.

What was Nigeria producing in 2015 to have a 400 billion economy? 98 percent was oil, and the price of oil was much higher then.

If you claim you don't know that our purchasing power and industrial capacity has dropped greatly then you are a dodoyo

Racoon:
@StatiSense

Cry me a river

Tinubu till 2031.

Racoon:
These are the useless fellas that wants to build a trillion naira economy who rather have ended up wrecking a thriving economy from $494.31 billion in 2015 to $188.27 billion in 2025 over a 10 years gap.

Even SA seating atop today is still finding it difficult to beat Nigeria's old record of 10 years ago, though they have diversify their economy. Meanwhile, it is the irony back here. APC shrank not only the economy, but as well as the people living in Nigeria.

Next KiVuKi Land economy to be more better than Lagos economy

atobs4real:
When we are corrupt, what results did u expect to see?

This has nothing to do with corruption! It's simply due to devaluation of naira . If Nigeria still remain on 4th position it means the country is on the right track to reclaim her position within short period.

edogu:
Toyota corolla was between 1.1 to 1.5 m. Chai!

It's 9.5 now
Crazy men.

sad

sulaak:
I am still waiting for your defence that Buhari borrowed to clear the debt?

At the end of Jonathan regim Did Jonathan govt owing or not? Were state able to pay salary or not? That should be the concern.answee first before we even talk