₦airaland Forum

zero8zero:
Bad news to the emergency lovers of Nigeria. They have been running helter skelter to discredit the news to console their bitter hearts but nothing for them. God bless Nigeria.

Putindbutt:
Shame on wailers.

zero8zero:
Bad news to the emergency lovers of Nigeria. They have been running helter skelter to discredit the news to console their bitter hearts but nothing for them. God bless Nigeria.

Saao:
Don't rush to believe anything from this government as they control everything controllable.

israelmao:
I hope it wouldn't follow the trajectory of phantom Warri Refinery revitalization?

SmartPolician:
Whenever I see a good thing, I must appreciate it. Well done, President Tinubu aka the Jagaban 💪💪💪

theredaddy:
Not being on the list of debtors, does it negate we are owing Debt relieve we know, bad debt written off we know .. which one is not on the list of IMF
what if its an " error of omission" ... most APC people are school dropout we know

Why cant IMF come out in clear terms like paris club did during OBj era.

nonsnse people

Celestialsword:
Nigeria has changed focus from borrowing from financial institutions to nations e g china

touchmark:
- The $3.4 billion principal has been cleared, but **interest and charges** (e.g., SDR assessments, GRA fees) remain. These will be paid annually until 2029, totaling ~$590 million
So obviously there are still work to do attained total delisting of indebtedness.

Putindbutt:
Where in the report did you see debt relief or bad debt written off?. Una no dey tire, bitterness na curse?.

fabolouz1:
Does this call for celebration? certainly it does.
Even though the Obasanjo Government achieved this feat with the world bank but successive Government due to their poor financial judgement went again on spending free.
one day we shall be debt free and the word of God in Deut. 15:6-11;28:12 shall be fulfilled.
God Bless Nigeria.

magoo10:
Under the emilokan oluwole government Nigeria is still heavily indebted in other loan facilities with foreign reserves depleting on a steady.
Make una get shame abeg when things get better it will be audible and clear to even the deaf and dumb.

ManirBK:
Aug 28, 2023
The Federal Government says it has no intention to borrow from any local or foreign organisation with its removal of subsidy on petrol and exchange rate harmonisation.

The Minister of Finance and Coordinating Minister for the Economy, Chief Wale Edun, revealed this at the end of the inaugural Federal Executive Council meeting on Monday in Abuja.

He said that the benefit of the subsidy removal would be ploughed back into various sectors aimed at boosting government revenue and improving the business environment for local and foreign investment.

Edun said that with the increased revenue from subsidy removal, various palliatives have been made available to cushion its effect on a short, medium and long-term basis.

He reiterated the President Bola Tinubu-led administration’s desire to bring back the economy from the wood it has found itself over time.

https://www.vanguardngr.com/2023/08/fg-ends-borrowing-finance-minister/amp/

Putindbutt:
We ain't paying shishi, the Punch report una dey carry ontop una head is bullshit.

Oladimeji556:
Nigeria’s external debt service is expected to rise to $5.2 billion in 2025, marking a growing fiscal burden despite ongoing economic reforms, according to a new report by Fitch Ratings.

The credit rating agency made the projection in its latest commentary, which also saw Nigeria’s long-term foreign-currency issuer default rating upgraded from ‘B-’ to ‘B’ with a stable outlook. The agency attributed the anticipated rise in external debt servicing to scheduled amortisation payments and a $1.1 billion Eurobond repayment due in November 2025.

https://ratecaptain.com/nigerias-external-debt-servicing-projected-to-reach-5-2-billion-in-2025-fitch/

#loandefaults #creditrisk #corporatefinance #bankingsector #cbnreport

Houseontherock1:
Still robbing Peter to pay Paul

chisomkachy:
Nigerian President Bola Tinubu’s first supplementary budget includes a fleet of SUVs for himself and his wife, a presidential yacht and the renovation of his villa amid a cost-of-living crisis for some of the poorest people in the world.

The proposal — which seeks additional funding beyond the annual budget approved by Tinubu’s predecessor — comes as the government asks Nigerians to persevere through pain caused in part by a raft of economic reforms ushered in by the new president. Africa’s most populous country faces rampant unemployment, soaring food prices and a plummeting currency.

Federal lawmakers approved the president’s request for extra spending on Thursday, but eliminated the provision of 5 billion naira ($6.01 million) to buy a presidential yacht. Instead, they doubled the allocation to a student loan fund to 10 billion naira, according Abubakar Bichi, chairman of an appropriations committee in the House of Representatives.

The lawmakers approved 1.5 billion-naira proposed to purchase SUVs for the office of First Lady Oluremi Tinubu — an amount larger than that allocated to many individual federal colleges. The supplementary budget also proposes almost 6 billion naira to purchase SUVs for the presidency — more than the amount initially allocated to fund a student loan program for poor families.


https://www.bloomberg.com/news/articles/2023-11-02/nigeria-budgets-for-suvs-and-yachts-amid-economic-hardship

theredaddy:
Please shutup if you lack comprehension IC, telling us Nigeria is no longer on the list of IMF without any clear term doesnt make logical sense

Give the phone to educated people around to read and translate what i said in your local dialect to you

anonimi:
So who are we paying all the 2025 debt servicing to

Why is ebiolokan running a Ponzi scheme debt ecosystem?

Whiteshield:
Just remain that way.
The home training you didn't get at home, you will get it here.

chudez0147:
How does this benefit the common man on the street ?

Interesting