₦airaland Forum

He explained that the loan approval the president is seeking from the National Assembly is simply to ratify what is already included in the 2025 budget.

The Managing Director and Chief Executive Officer of Financial Derivatives Company Limited, Bismarck Rewane, says there is no reason for Nigerians to panic over President Bola Tinubu’s fresh ₦1.15 trillion domestic loan request to help finance the 2025 budget deficit.

Rewane, who appeared on Channels Television’s Business Morning programme on Thursday, explained that the loan approval the president is seeking from the National Assembly is simply to ratify what is already included in the 2025 budget.

According to him, paying off the debt on schedule will not be a problem due to increased revenue following the Federal Government’s suspension of subsidies.

“I think the approvals that are being requested now are just to ratify what is there, these are not additional debts to be honest with you,” Rewane said on the programme.

“It is just a ratification of the financing of the budget because before you go into the budget for 2026 which will be announced any moment from now, you need to up all the outstanding items. So, the N1.15trn for the domestic borrowing is just for the ratification of what has been there.

“Don’t forget that our budget of this year was in excess of about N54 trillion and the deficit was almost as wide as 13 or 14 trillion naira. So what the president is asking for is the instrument to finance this by issuing bonds and other papers, so I don’t think it is anything to worry about.

“Because our revenue has increased, because subsidies have been virtually eliminated, you find that revenue available to pay up this debt when it is required is not in doubt. So, it is not any reason to panic at all.”

https://www.channelstv.com/2025/11/06/no-cause-for-concern-over-tinubus-new-%E2%82%A61-15trn-loan-request-rewane/

"....Our revenue has increased, because subsidies have been virtually eliminated, you find that revenue available to pay up this debt when it is required is not in doubt. So, it is not any reason to panic at all...... "

They always speak with their tongue in their cheek. This is why no sane person should take all these government paid apologists serious.

Lol. Okay, what projects is this latest 1.15 trillion naira loan financing? It will be December in two weeks and the capital component of the 2025 budget is yet to be implemented. We are still borrowing to finance 2024 budget. Contractors are still being owed payments for jobs delivered. Yet, no cause for concern.

The 2025 budget was open to the public, all the figures were reported in all the newspapers, they were debated and approved by the national assembly which was covered by the media. The MTEF was presented by the President, approved by the Senate and all the figures of proposed borrowings for the period were made public. These are public documents that a click of a button on your phones would bring it up to you. Unfortunately, rather than equip yourselves with knowledge and make your own research, you prefer coming online to look for headlines that would mislead you because of your crude political sentiments, you rather some political figure or opposition come out and drop a line such as " Nigeria is finished", then you jump on it and start screaming along, while they take advantage of your ignorance.
Every single loan the President requested are within the expenditure framework, the loans so far are within the limit of the budget. Both the federal and state Governments are well within their borrowing limits so far. Of course, you can not expect they borrow it all at once, instead they have to borrow strategically as it deem fit.
Whenever you hear the Government requesting for a loan, rather than start screaming, it would do you much good to follow up on the expenditure framework to determine if the Government is within its limit or not before carrying vuvuzela exposing your ignorance.
God bless Nigeria.

-Kiss the truth!

Racoon:
They always speak with their tongue in their cheek. This is why no sane person should take all these government paid apologists serious.

That was 2021, this is 2025. There's a big difference. In 2021, Nigeria was using 97% of its revenue on debt servicing, Nigeria was paying subsidy with borrowed funds, credit ratings for Nigeria as at 2021 was in the negative. But not anymore as at today. The financial and economic realities are on upward trajectory compared to the past.

-Kiss the truth!

TimeManager:
The 2025 budget was open to the public, all the figures were reported in all the newspapers, they were debated and approved by the national assembly which was covered by the media. The MTEF was presented by the President, approved by the Senate and all the figures of proposed borrowings for the period were made public. These are public documents that a click of a button on your phones would bring it up to you. Unfortunately, rather than equip yourselves with knowledge and make your own research, you prefer coming online to look for headlines that would mislead you because of your crude political sentiments, you rather sone political figure or opposition come out and drop a line such as " Nigeria is finished", then you jump on it and start screaming along, while they take advantage of your ignorance.
Every single loan the President requested are within the expenditure framework, the loans so far are within the limit of the budget. Both the federal and state Governments are well within their borrowing limits so far. Of course, you can not expect they borrow all of it at once, instead they have to borrow strategically as it seems fit.
Whenever you hear the Government requesting for a loan, rather than start screaming, it would do you much good to follow up on the expenditure framework to determine if the Government is within its limit or not before carrying vuvuzela exposing your ignorance.
God bless Nigeria.

-Kiss the truth!

So what's the purpose of having the media then??

Una no dey everly think with una braains sha

Loans don get another meaning under bulaba ooo

I no even get strength again make wee dey enjoy am dey go

What does he mean by “Subsidy has been virtually removed”?

Does this mean the govt still pays subsidies?

TimeManager:
That was 2021, this is 2025. There's a big difference. In 2021, Nigeria was using 97% of its revenue on debt servicing, Nigeria was paying subsidy with borrowed funds, credit ratings for Nigeria as at 2021 was in the negative. But not anymore as at today. The financial and economic realities are on upward trajectory compared to the past.

-Kiss the truth!

your man has borrowed more than any president before him,with nothing to show for it, he has just increased our debt stock for nothing, your statistics in useless it is just doctored propaganda figures different from the reality ,they were servicing debt with 97% of earnings, yet they were paying subsidy for fuel,for electricity, for education etc which the people benefited directly, contractors were not being owed as it is today, minimum wage was swiftly implemented unlike now, pensioners were paid regularly, including areas,workers were paid 25 or latest 31st of every month unlike now they are paid on the 32nd or 35th of the months with various areas yet to be paid ,all federal roads are dilapidated, please tell me what is the benefits of this your achievement to Nigerians
It shows its a lie, as there is no positive to this your borrowing
Your government should be referred to as omo oni nakukuna, the prodigal child

surgical:
your man has borrowed more than any president before him,with nothing to show for it, he has just increased our debt stock for nothing, your statistics in useless it is just doctored propaganda figures different from the reality ,they were servicing debt with 97% of earnings, yet they were paying subsidy for fuel,for electricity, for education etc which the people benefited directly, contractors were not being owed as it is today, minimum wage was swiftly implemented unlike now, pensioners were paid regularly, including areas,workers were paid 25 or latest 31st of every month unlike now they are paid on the 32nd or 35th of the months with various areas yet to be paid ,all federal roads are dilapidated, please tell me what is the benefits of this your achievement to Nigerians
It shows its a lie, as there is no positive to this your borrowing
Your government should be referred to as omo oni nakukuna, the prodigal child

See high level ignorance and lies rolled into one. If you think fabricating these nonsense will help you win election, you're making the biggest mistakes of your lives.

Putindbutt:
See high level ignorance and lies rolled into one. If you think fabricating these nonsense will help you win election, you're making the biggest mistakes of your lives.

why not debunk them,something that is clear to everybody, continue playing the ostrich,only a complete fool or somebody in coma, or a mad man who is far from reality ,will not see that your government is a complete disaster
WE REMOVED SUBSIDY TO STOP BORROWING AND TO HAVE MONEY FOR INFRASTRUCTURE
This were the speech of your oga when removing subsidy, but since then he has continued to borrow without anything to show for it,except funding decamping

surgical:
why not debunk them,something that is clear to everybody, continue playing the ostrich,only a complete fool or somebody in coma, or a mad man who is far from reality ,will not see that your government is a complete disaster
WE REMOVED SUBSIDY TO STOP BORROWING AND TO HAVE MONEY FOR INFRASTRUCTURE
This were the speech of your oga when removing subsidy, but since then he has continued to borrow without anything to show for it,except funding decamping

Debunk what?, your ignorance?. How many times have we debunked them?, has it stopped you guys from repeating your lies?. On this thread, a renowned economist is enlightening you yet has it stopped you from repeating same lies?. Abeg shift.

This rewane man is confused he said the same thing when buhari was in charge and now we know better

Putindbutt:
Debunk what?, your ignorance?. How many times have we debunked them?, has it stopped you guys from repeating your lies?. On this thread, a renowned economist is enlightening you yet has it stopped you from repeating same lies?. Abeg shift.

He is using his knowledge to mislead the public. He took same position during GMB and we know the outcome. forget all these dubious scholarship that hasn't improved the economy

https://www.youtube.com/watch?v=ZzEax1NRt2I

Adebayo should come learn

Pakute:
He explained that the loan approval the president is seeking from the National Assembly is simply to ratify what is already included in the 2025 budget.



https://www.channelstv.com/2025/11/06/no-cause-for-concern-over-tinubus-new-%E2%82%A61-15trn-loan-request-rewane/

Anyone that wants to borrow should borrow, I am not the one to pay.
What do i benefit from government? When others before him borrowed I did not enjoy from it and i have stopped anticipating dividends of good governance

Rewane is saying there is no cause for alarm as the Tinubu administration continues to plunge the country deeper into debt. Yet one must ask: what exactly are these loans being used for? Aside from the Lagos–Calabar coastal highway, there appears to be no major infrastructural development underway. There are no new rail projects, our federal road are in their worst form,our power-generation capacity has not improved, and the electricity infrastructure seems to be deteriorating.

This is an administration that removed the fuel subsidy in one of the harshest ways imaginable, without providing any safety nets for citizens. Despite this, it recently boasted of meeting and surpassing its revenue targets, even as people continue to face worsening economic hardship.

Till we all become China citizens

TimeManager:
That was 2021, this is 2025. There's a big difference. In 2021, Nigeria was using 97% of its revenue on debt servicing, Nigeria was paying subsidy with borrowed funds, credit ratings for Nigeria as at 2021 was in the negative. But not anymore as at today.

The financial and economic realities are on upward trajectory compared to the past.

-Kiss the truth!

Tinubu propaganda and fake promises are on upward trajectory compared to the past when PDP deregulation and privatisation capitalism gave us widespread prosperity driven by high employment productivity.

Do you know why PDP administrations borrowed less money when they gave us cheap petrol and didn’t remove subsidy

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/

Borrow money to not finish one road
Borrow money to eradicate poverty but poverty still dey
Borrow money to fight in security, yet it get worst
Borrow money to strengthen electricity yet, yet we paying higher now for electricity and barely see it
Borrow money to educate n innovate in ng, more pos scholars than ever

honestivo:
Till we all become China citizens

Citizens báwo níyẹn?

How do debtors become citizens? They can only be indentured servants and slaves.

Maybe that’s why ayederu Tinubu chose the name of the notorious slave trader, which is different from the Mogaji name of the woman he claims to be his mother

anonimi:
The often cited biography titled Madame Tinubu: Merchant and King-maker, authored by Nigerian historian Oladipo Yemitan, paints her views regarding slave trading.

On one occasion, during her final sojourn in Abeokuta, she was alleged to have sold a young boy into slavery and was accused of it. When arraigned before Ogundipe Alatise over the matter, she reportedly explained: 'I have a large house-hold and I must feed them well. I need money to do that, that's why'.

— Oladipo. Yemitan, 'Madame Tinubu: Merchant and King-maker'

Another section of Yemitan's Tinubu biography, referred to as the Amadie-Ojo Affair, captures a slave trading deal gone sour in 1853 (notably after the 1852 Treaty abolishing slavery in Lagos) wherein Tinubu tells another slave trader (Domingo Martinez) that "she would rather drown the slaves [20 in number] than sell them at a discount".

https://en.m.wikipedia.org/wiki/Efunroye_Tinubu

Can you imagine? Nigeria is gone tey tey

Uncle Rewane, are you being sincere or you're on his payroll hence your trying to calm our nerves

anonimi:
Citizens báwo níyẹn?

How do debtors become citizens? They can only be indentured servants and slaves.

Maybe that’s why ayederu Tinubu chose the name of the notorious slave trader, which is different from the Mogaji name of the woman he claims to be his mother

And as time goes by u end up becoming citizen after ur slave tenure is complete

tommy589:
Anyone that wants to borrow should borrow, I am not the one to pay.

What do i benefit from government? When others before him borrowed I did not enjoy from it and i have stopped anticipating dividends of good governance

Don’t you pay taxes in various ways and forms to the government?

What of the subsidy you are paying for the expensive petrol you are buying

Is that not how the government repays loans and services debts?

TimeManager:
The Federal Government has revealed that the elimination of the petrol subsidy under President Bola Tinubu has resulted in savings of over $84 billion, which are now being channelled into the construction and rehabilitation of 40 key road projects across the country over the past two years.

This was disclosed in a policy brief released by the National Orientation Agency (NOA), titled “Two Years Later: Key Benefits of Subsidy Removal,” and made available to journalists over the weekend in Abuja.

The report, which reviewed the outcomes of the subsidy removal since May 29, 2023, noted that the policy averted a looming economic crisis.

It also enabled the Tinubu administration to clear long-standing financial liabilities, increase capital investments, and support the financial stability of state governments.

https://businessday.ng/news/article/84bn-saved-from-petrol-subsidy-now-financing-40-key-roads-report/?amp

>>
>>>>

Petrol should never cost more than N70 per litre, says APC

January 19, 2015

The All Progressives Congress (APC) has described as mere tokenism the reduction of petrol price from N97 to N87 per litre, saying the petroleum product ordinarily should sell for N70.

On Sunday, the federal government announced the reduction of petrol price, citing the fall of global crude oil price.

But the APC through Lai Mohammed, its spokesman, on Monday accused the government of making a show out of deceit, saying “a 10.3 per cent slash in the price of petrol was a mere tokenism at a time the price of crude oil has crashed by about 60 per cent”.

It argued that the pump price of a litre of petrol should not be more than 70 Naira, alleging that at N87 per litre, the government was forcing Nigerians to subsidise the massive corruption in the oil sector by N17 for every litre of fuel.

https://www.thecable.ng/petrol-never-cost-n70-per-litre-says-apc/
>>>
>>>

Buhari’ll reduce petrol to N40/L —David-West

FORMER Minister of Petroleum and Energy, Prof. Tamunoemi David-West, said that Nigerians should expect sharp drop in petrol price from the current N87 to about N40 per litre, saying, “the president-elect, Gen. Mohammed Buhari, will reduce the fuel pump price to N40 per litre.”

https://www.vanguardngr.com/2015/04/buharill-reduce-petrol-to-n40l-david-west/

bmd1010:
And as time goes by u end up becoming citizen after ur slave tenure is complete

Have osus become full citizens?

Have blacks become full citizens of oyinbo countries

TheBedWench:
The one-drop rule is a social and legal principle of racial classification that was historically prominent in the United States in the 20th century. It asserted that any person with even one ancestor of black ancestry ("one drop" of black blood)[1][2] is considered black (Negro or colored in historical terms).

This concept became codified into the law of some states in the early 20th century. It was associated with the principle of "invisible blackness" that developed after the long history of racial interaction in the South, which had included the hardening of slavery as a racial caste and later segregation. It is an example of hypodescent, the automatic assignment of children of a mixed union between different socioeconomic or ethnic groups to the group with the lower status, regardless of proportion of ancestry in different groups.[3]

The one-drop rule is defunct in law in the United States and was never codified into federal law.

In other words they have already spent the 1.5trn, now they are just formalizing it.... making it official

Government of borrow borrow with nothing to show for it

anonimi:
Have osus become full citizens?

Have blacks become full citizens of oyinbo countries

Yes thats y they had a black president. And a black vice president.