₦airaland Forum

The problem is not borrowing but what is being done with the borrowed funds? The U.S borrows over 20 times as much as Nigeria but every single dollar must be accounted for! T-Pain and his goons are just borrowing as if it's monopoly money, the next governemnt is going to have a huge hole to dig out from whether it's 2027 or 2031.....GBESE!

If Wike and Tinubu simply return the money they have embezzled, the debt can be paid off.

They were celebrating imf cleared debts some months ago
Bunch of depraved loo natiks

Ok o

With nothing to show for what they are borrowing.
All those defending these clowns, should make sure they are benefitting from the scam that is on.

treesun:
https://punchng.com/nigerias-public-debt-may-hit-n160tn-by-december-report/

I thought the CORNful people here said the government no longer borrows… that the funds from subsidy removal is doing wonders.

dzionyte:
It is well, once the country is bankrupt, everyone will be equally poor.

there's a reason why the rich are sending their kids abroad and getting second passports. When this country will eventually sink, they won't be here.

Even the president at that time would run away with his family. Nigeria won't be the first country going down this slope. The rich would always run away

Mischievous reports like this are only pushing false narratives on the Nigerian debt profile. National debts are measured and reported in USD. This is the internationally accepted practice.

As of March 2023, our total debt was $108b, but as of today, it's $97b. This shows a decline of $11b in the last 2 years. Unfortunately, these doomsayers and negative people will convince gullible Nigerians things are getting worse. They deliberately report the debt in Naira only, thereby overstating the real number. In March 2023, the conversion was based on the highly subsidized exchange rate of N460/$1 compared to the market-driven, efficient N1,500/$1. Of course the figures will be higher in Naira when compared to 2 years ago

This administration has made a strident efforts to pay down the debt. Our international trading partners and countries applaud this efforts and have confidence in the handling of the Nigerian economy by this government. Unfortunately, like lambs to slaughter, gullible Nigerians will believe politicians and fake media outlets.

Elo fokan bale , Tinubu ma sanwo ( make una go calm down, Tinubu go pay the money )

The government is trying, considering the absolute mess it inherited from Buhari.

In 2023, 97% of government revenue was to go towards debt servicing. That was how appalling the state of the economy was under Buhari.

It would take at least 4 years to get the budget deficit below 3% as the benefit of improved tax collections brightens the government fiscal position, and also much faster economic growth.

In Tinubu's second term, expect a slash in the size of the civil service, and an end to electricity subsidies. This would further improve the government's fiscal position

Sai BaBa

salesbloo:
Nairaland give us figures in dollars not naira

God Bless President Bola Tinubu
God Bless Federal Republic of Nigeria

Like dollars is our currency?? Sebi naira "has stabilized and performing". Weeks ago you dead heads were celebrating that we "paid off" IMF. How come debt is rising?

kingbee90:
At least I'm more educated than your president & I have my legit school certificates.

Your response still showed that you are only literate and not educated. A certificate is not an indication of being educated.

YesDaddyTill203:
It's for thr not so smart. They simply used thr new naira rats to make it look like it got worse than before.

may God deliver people like u. Who floated the Naira?

grandstar:
The government is trying, considering the absolute mess it inherited from Buhari.

In 2023, 97% of government revenue was to go towards debt servicing. That was how appalling the state of the economy was under Buhari.

It would take at least 4 years to get the budget deficit below 3% as the benefit of improved tax collections brightens the government fiscal position, and also much faster economic growth.

In Tinubu's second term, expect a slash in the size of the civil service, and an end to electricity subsidies. This would further improve the government's fiscal position

Coming out as a partisan I have always known you as now. At least you didnt die denying it.


So what is the saved subsidy funds being used for that's actually positive or helping us actually grow? Is it the highways that's redundant in advance or idle airports or needless flyovers or religion?

This is not good.

CodeTemplarr:
Coming out as a partisan I have always known you as now. At least you didnt die denying it.


So what is the saved subsidy funds being used for that's actually positive or helping us actually grow? Is it the highways that's redundant in advance or idle airports or needless flyovers or religion?

A man earns 500k a month, and spends 700k. He has to borrow 200k to cover the shortfall.

A time comes and he's fed up. He decides to do something about his excess spending. He spends 100k a month on beer after the close if work, and decides to eliminate it. This he does successfully.

His wife now comes to meet him and asks,"This money you have saved, how are we to spend it, how are we going to spend it?" What will you tell her?

OOOKEWALE:
Your response still showed that you are only literate and not educated. A certificate is not an indication of being educated.

You who is a so-called literate person is supporting a man you don't even know his actual first name and surname. A man who has a questionable horrible past and who has proven to be the worst president Nigeria has ever had since it's creation.
All because you're benefiting from the status quo or he's your tribesman.
How come you guys no longer scream "sophistication" again? Una bumbum Don open and the whole country has seen you guys for what you are.

obaidan:
They should just share this debt as follows.
Dangote go pay 10%
Mike adunga 7%
Abdulsamad Raman 6%
Otedola go pay 5%
Jim via 4%
Orji uzor kalu 3%
Tony Elumelu 2%

Benedict peters, TY Danjuma, Arthur Eze, Jim oh Ibrahim, folorunsho alakija, should raise 8% amongst themselves.

All bank MDs past and present, led by Aigboje Aig-imokhuede should pay another 8%

Bola Tinubu and Atiku Abubakar should help us with 5%

After that make them tell us weytin remain. We will release 2nd list of people that will help us with the payment before dem go share the rest for us ordinary citizens

Your comment shows that malaria drugs should be made free

occam:
Mischievous reports like this are only pushing false narratives on the Nigerian debt profile. National debts are measured and reported in USD. This is the internationally accepted practice.

As of March 2023, our total debt was $108b, but as of today, it's $97b. This shows a decline of $11b in the last 2 years. Unfortunately, these doomsayers and negative people will convince gullible Nigerians things are getting worse. They deliberately report the debt in Naira only, thereby overstating the real number. In March 2023, the conversion was based on the highly subsidized exchange rate of N460/$1 compared to the market-driven, efficient N1,500/$1. Of course the figures will be higher in Naira when compared to 2 years ago

This administration has made a strident efforts to pay down the debt. Our international trading partners and countries applaud this efforts and have confidence in the handling of the Nigerian economy by this government. Unfortunately, like lambs to slaughter, gullible Nigerians will believe politicians and fake media outlets.

Market driven rate of N1,500/$ defended with borrowed dollars, continue!

That is around $105 billion.
It is still a paltry debt when compared to a small nation like South African which has 5 times debt of Nigeria.South Africa debt is more than $600 billion.
The most important thing is that they should utilize the fund diligently.Thank God there are
several projects on going around the nation.

Gboss247:
Your comment shows that malaria drugs should be made free

There’s a difference between making a joke and being the joke, i’ll let you reflect on which side you landed

kingbee90:
You who is a so-called literate person is supporting a man you don't even know his actual first name and surname. A man who has a questionable horrible past and who has proven to be the worst president Nigeria has ever had since it's creation.
All because you're benefiting from the status quo or he's your tribesman.
How come you guys no longer scream "sophistication" again? Una bumbum Don open and the whole country has seen you guys for what you are.

When you get education, you will realise that you cannot speak from other people's perspectives, as you are not sitting where they are sitting, you have not walked where they have walked. You will realise that what you just did is called fallacy of generalization built on fallacy of hasty conclusions. Please, go back to school to get educated. Then come back and lets have an intellectual discourse on this again.