₦airaland Forum

EXTERNAL DEBT SERVICE — Total Debt Service During Tenure

OBASANJO [8YRS] — $6.39 billion

YAR'ADUA [3YRS] — $1.31 billion

JONATHAN [5YRS] — $1.62 billion

BUHARI [8YRS] — $11.16 billion

TINUBU [~2YRS*] — $8.38 billion

*Ongoing

#Statisense
(CBN/DMO)

JASONjnr:
It's been just two years and Tinubu is making serious efforts on our external debt.

My problem is with someone who walk around listening to m♧d people to advice his followers....

JASONjnr:
It's been just two years and Tinubu is making serious efforts on our external debt.

My problem is with someone who walk around listening to m♧d people to advice his followers....

Goodvibes007:
This is interesting.

During GEJJonathan, oil boom average of $110 per barrel, average of 2.2 mbpd yet left huge debt. No infrastructures projects, and borrowed to pay salaries.

thisweekng:
The Minister of Finance and Coordinating Minister of the Economy Chief Olawale Edun has said the last time Nigeria’s economy looked stable was about a decade ago.

He made this statement during his maiden press conference as Minister of Finance where he outlined President Bola Tinubu’s vision, agenda and strategy for the economy.

He said, “I think as we all know, we are not where we should be. The economy is barely growing above the rate of population growth.

“But it was not always so, and I think in trying to look at the way forward, if we now have a situation of slow growth, double-digit inflation, weak/depreciating exchange rate, as well as security concerns that are resulting in an economy that is not growing and not taking Nigerians out of poverty.

“If we think back to the last time when the economy was stable- when it was growing, when inflation was low, and the interest rate was affordable, that period was about a decade ago. Growth was about 6% in 2013 and 2014.”
Private sector to drive the economy

https://nairametrics.com/2023/09/01/the-last-time-nigerias-economy-was-stable-was-about-a-decade-ago-wale-edun/

FG, States, LGs Share N568.4 Billion for Oct
15 NOVEMBER 2013

Also, $1billion was proposed for distribution to complement shortfall in expected revenue." The $1billion is a compromise by the FG over its words in September not to augment shortfalls anymore.

Responding to the presentation, the chairman of the States Commissioners of Finance and Ebonyi State Commissioner of Finance, Mr Timothy Odaah, lamented that the statutory allocation was getting smaller and smaller. "It appears this is the worst in terms of returns. This is the least in allocations as far as this year is concerned. We are mourning the dearth of funds and this is a wakeup call for states and local governments to buoy up their internally generated revenue."

While appreciating the "magnanimity" of President Goodluck Jonathan to approve the $1billion from the excess crude account and to be shared among the federal, state and local governments, Odaah expressed disappointment with the returns made by the NNPC.

He said that the states had requested for $2bn to complement for the shortfall in revenue but got only $1billion. In September, Odaah and fellow commissioners had walked out of the Accountant General of the Federation (AGF) when the federal government said that the framework of the 2013 budget was no longer realistic and it won't augment shortfall in revenue. Odaah raised issues with the statutory allocations of previous months.

More from: http://allafrica.com/stories/201311150323.html

JASONjnr:
It's been just two years and Tinubu is making serious efforts on our external debt.

My problem is with someone who walk around listening to m♧d people to advice his followers....

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/

chopnaira:
https://x.com/StatiSense/status/1959654159361122807

Osebanjo:
Omo. Why was GEJ so clueless though. Last time I saw the reserve thread. He literally shredded everything. It got worse under him that his own minister had to cry out how they were borrowing to pay debt.

GEJ had the biggest oil boom era, services little debt but somehow still mismanage the economy. What happen? Could it be the subsidies or what exactly?

Osebanjo:
Omo. Why was GEJ so clueless though. Last time I saw the reserve thread. He literally shredded everything. It got worse under him that his own minister had to cry out how they were borrowing to pay debt. GEJ had the biggest oil boom era, services little debt but somehow still mismanage the economy. What happen? Could it be the subsidies or what exactly?

Uchesis:
Tinubu will hit 20billion before 2027.


Nobody should quote me

JASONjnr:
It's been just two years and Tinubu is making serious efforts on our external debt.

My problem is with someone who walk around listening to m♧d people to advice his followers....

sonofthunder:
Someone explain to those of us that are laymen what this means.


Is this the debt they accrued or the debt they have paid of out of our total debt?

Goodvibes007:
This is interesting.

During GEJJonathan, oil boom average of $110 per barrel, average of 2.2 mbpd yet left huge debt. No infrastructures projects, and borrowed to pay salaries.

anonimi:
How is 75% in less than two years of what his expired northerner spent in eight years, equal to serious efforts?

What arithmetic formula does that?

Meanwhile, any logical explanation for why ebilokan is borrowing more money than previous presidents after his $84 billion subsidy savings that has made petrol and everything else very expensive and choking people

teekrackz:
You really know nothing actually, the stats here is on debt servicing not debt incured

Odobaone:
Tinubu dey try but h8t and tribalism too much especially for the nut

Odobaone:
Tinubu dey try but h8t and tribalism too much especially for the nut

NinjaMetahuman:
school no be scam.
It's debt serviced not debt accrued.

It means Tinubu has paid or cleared more Nigeria's debt in 2 years than any other president in the history of Nigeria bar buhari.


It's positive stat for him.

anonimi:
How is 75% in less than two years of what his expired northerner spent in eight years, equal to serious efforts?

What arithmetic formula does that?

Meanwhile, any logical explanation for why ebilokan is borrowing more money than previous presidents after his $84 billion subsidy savings that has made petrol and everything else very expensive and choking people