Five African Countries Top World Bank Borrowers, Owing $67.8 Billion - Politics (2)

Five African Countries Top World Bank Borrowers, Owing $67.8 Billion - Politics (2) - Nairaland

Nairaland Forum › Nairaland General › Politics › Five African Countries Top World Bank Borrowers, Owing $67.8 Billion (14455 Views)

Poll: Tinubu has collected the most Debts in Nigeria's history,despite high oil prices,no subsidy payment,worsening standard of living.

Yes 87% (185 votes)

No 12% (26 votes)

This poll has ended

1 2 3 Reply (Go Down)

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by Lithiumite: 10:50am On May 26

malali:
Let me educate you. Go and read up on EMTALA.
Its a constitutional right of anyone in the USA, whether immigrant,citizen or illegal alien to get free and immediate healthcare at the point of need.
Please do your research, its embarrassing when you say things you are not well versed on with so much confidence.

You see your life,all the lies you spread in that your sadistic WhatsApp groups....pushing puerile propaganda and majority of your ilk will swallow hook,line and sinker without even thinking.

1 Like

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by malali(op): 10:55am On May 26

Lithiumite:

How much are you paying in taxes compared to those in US to expect givt to ordinarily provide you all those things you mentioned......california state budget alone is almost 10 times that of Nigeria, we dont even come close to NY or texas.

Nigerians total crude oil income is just N28tr which gives you just about $20b thats all your country makes from your so called crude oil that makes you feel you are the richest country in the world......just $20b,money dangote used to build is refinery is what Nigeria is making in a year for 220m citizens.

Thats not even enough to fund 50% of the 2026 budget,you then have a budget deficit of 21trillion,how do you want to fund that? I guess from obi's personal money,bloody jokers

Oh so now you can analyse, you suddenly have working brain cells.......lol.
I am sure you know you need to have a job to be able to pay taxes, unemployed people dont pay taxes. Has tinubu created 10,000 jobs in his 3 years in power ?
You speak on only crude oil as revenue, what about the solid minerals ? How much has been spent on Ajaokuta steel ? What about all the agriculture he has been buying tractors for over 3 years for ?
Truth be said, Tinubu is learning on the Job, He has no clue how to create these opportunities he promised.

Building a road from sokoto to badagry ? To sell more goat meat i guess.....lol
Tinubu is worse than Buhari. He is selling crude oil at $100 per barrel.
Buhari sold crude oil at $30 per barrel
Buhari paid petrol and forex subsidy
Buhari did not collect all these crazy loans
Tinubu is not paying any subsidy,he is collecting crazy loans, we can see what he is doing with the loans, not even the power grid is reliable.
When we talk you mention Obi, who cares about Obi ?

Tinubu has no clue what he is doing !!! He is way over his head !!!

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by malali(op): 10:57am On May 26

Lithiumite:
You see your life,all the lies you spread in that your sadistic WhatsApp groups....pushing puerile propaganda and majority of your ilk will swallow hook,line and sinker without even thinking.

Nairaland needs people with facts, logic, or even a coherent argument.

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by Akuruoulo(m): 11:08am On May 26

Flangelo12:
68 Billion, and people want to cry.

Mtcheew.

Personal debt in UK is £1.9 trillion.

U show how low u can go because of Apc is senselessly alarming

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by OmoOshodi(m): 11:09am On May 26

Nothing is wrong in borrowing and developing your nation...

But borrowing and looting it is the most insane situation we found ourselves in Nigeria

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by Akuruoulo(m): 11:09am On May 26

HacheNoire:
Just $67.8bn.

The whole of Africa’s debt is not even up to half of what the US pays as interest in a year.

Soooo ?

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by Daguccizgreat(m): 11:13am On May 26

HacheNoire:
Just $67.8bn.

The whole of Africa’s debt is not even up to half of what the US pays as interest in a year.

California economy surpass that of the whole west Africa I hope you know that.

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by Lithiumite: 11:13am On May 26

malali:
Why is loans the only thing you want to compare with America ?
Can you compare the free education till university for all citizens and resident ?
Can you compare the medicaid and medicare for all citizens after 65 years old ?
Can you compare a functional hospital in every 20 mile radius in the whole country ?
Can you compare over 100 years of no power failure ?

Everytime we mention these horrendous loans this administration is collecting you start mentioning America. You think Nigerians are ignorant ?

Quit that! Do not even try to bring those your iq deficient propaganda into my mentions,do you think this is one of those your obidient WhatsApp groups where you spread dimwitted lies with your gullible ilk.

Which state in America do you have free education upto university, mention just 1.

Healthcare:always remember to mention how much americans pay in taxes and health insurance.

Healthcare fall under the concurrent list and state govs are majorly responsible for building standard and efficient health care institutions within their states....do you expect tinubu to build hospitals in every village in the country, staff them and equip them? That will be really foolish of anyone to even infer that considering how Nigeria is structured.

Power problem in Nigeria is grossly systemic and the gej govt in its wisdom already privatised the sector,govt is still trying to disentangle the bottlenecks in the policy to free up investments in that space.

2 Likes

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by okoloto: 11:59am On May 26

What is painful is that African leaders, take these loans not for development but to steal it, go back to the lenders bank abroad and deposit it, and the lender gives it back again to them as loan with very high interest and the circle continues.
They borrow to loot. That is the smart political leaders that we have. Their smartness is to destroy not to build.

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by HacheNoire: 12:01pm On May 26

Daguccizgreat:
California economy surpass that of the whole west Africa I hope you know that.

US debt already over GDP!

Your point does not up anything.

1 Like

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by NinjaMetahuman: 12:02pm On May 26

malali:

US has free education till college
US has free emergency healthcare for all
US has free medicare and medicaid for all above 65years old
US Social security for all citizens upon due retirement
US has a world class defense budget with bases strategically located all over the world
US has infrastructures, health,airports,space programs
US has no starving citizens
US has a functional power grid, with zero power failure in decades
US has and maintains a diversified economy.

us does not have all this.

Infact they don't have 80% of these things.

Complete misinformation garbage.

2 Likes

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by Eriokanmi: 12:11pm On May 26

Too bad, the leading african economies we're competing with aren't even on the list yet, some people are defending this madness, using UK and USA as comparisons as if our GDPs are same. These are the uneducated fellows as usual from the apc camp

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by Lithiumite: 12:20pm On May 26

malali:
Oh so now you can analyse, you suddenly have working brain cells.......lol.
I am sure you know you need to have a job to be able to pay taxes, unemployed people dont pay taxes. Has tinubu created 10,000 jobs in his 3 years in power ?
You speak on only crude oil as revenue, what about the solid minerals ? How much has been spent on Ajaokuta steel ? What about all the agriculture he has been buying tractors for over 3 years for ?
Truth be said, Tinubu is learning on the Job, He has no clue how to create these opportunities he promised.

Building a road from sokoto to badagry ? To sell more goat meat i guess.....lol
Tinubu is worse than Buhari. He is selling crude oil at $100 per barrel.
Buhari sold crude oil at $30 per barrel
Buhari paid petrol and forex subsidy
Buhari did not collect all these crazy loans
Tinubu is not paying any subsidy,he is collecting crazy loans, we can see what he is doing with the loans, not even the power grid is reliable.
When we talk you mention Obi, who cares about Obi ?

Tinubu has no clue what he is doing !!! He is way over his head !!!

You keep migmaroling in ignorance trying to sound intelligent to your ever ilogical obidient mob....

Jobs.....the informal sector is the biggest provider of jobs in this country and the problem of Nigeria isnt unemployment but under employment and you wouldn't expect everything to turn around in 3 years with the lacuna that had been inherent for decades......our population is growing faster than available jobs so you need to grow the economy,building insfrastructure, stable electricity, and efficient govt policies.

I dont speak about crude oil only,revenue on nigerias non oil exports is N12 trillion,if you add that to crude oil revenue,it only racks up to about 40 trillion,top that with tax revenues which just gree to 7 trillion under tinubu you get 47 trillion in total,that still leaves you with a budget deficit of 21 trillion naira for 2026,how do you intend to fund that without borrowing.

Your gibberish about buhari paying subsidies with borrowed monies which you are still servicing till date.....where is the common sense in your economic management model.......you call a road tbat will open up billions of usd in investments, you call it a waste.....you are jist an arm chair critic who is absolutely liliputhian in the understanding basic economics of development.

2 Likes

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by kullozone(m): 12:46pm On May 26

Lithiumite:

How much are you paying in taxes compared to those in US to expect givt to ordinarily provide you all those things you mentioned......california state budget alone is almost 10 times that of Nigeria, we dont even come close to NY or texas.

Nigerians total crude oil income is just N28tr which gives you just about $20b thats all your country makes from your so called crude oil that makes you feel you are the richest country in the world......just $20b,money dangote used to build is refinery is what Nigeria is making in a year for 220m citizens.

Thats not even enough to fund 50% of the 2026 budget,you then have a budget deficit of 21trillion,how do you want to fund that? I guess from obi's personal money,bloody jokers

Please, don't type too long... Nigeria is better than the US and UK combined. Don't mind these people jare grin

Emilokan forever... Never say never
We die on his mandate

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by Mattswaggz: 1:06pm On May 26

Lithiumite:

How much are you paying in taxes compared to those in US to expect givt to ordinarily provide you all those things you mentioned......california state budget alone is almost 10 times that of Nigeria, we dont even come close to NY or texas.

Nigerians total crude oil income is just N28tr which gives you just about $20b thats all your country makes from your so called crude oil that makes you feel you are the richest country in the world......just $20b,money dangote used to build is refinery is what Nigeria is making in a year for 220m citizens.

Thats not even enough to fund 50% of the 2026 budget,you then have a budget deficit of 21trillion,how do you want to fund that? I guess from obi's personal money,bloody jokers

Is it from 70k minimum wage that anyone would pay huge taxes?.....or is it from business that owners needs to produce power for themselves that they'll make enough profit to pay huge taxes?. undecided

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by jojothaiv(m): 1:17pm On May 26

Emeskhalifa:
Did yall see south Africa on the list?

Tomorrow one Mbe will want to compare South Africa with Nigeria

Y'all better stay back and fix your damn country, hold your politicians accountable, kick away all y'all selfish acts and y'all should see yourselves as one people with common enemy.

Honestly, this should be more of what we Nigerians should be doing now instead of trying to justify the unjustifiable.

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by AfDapone: 1:21pm On May 26

Where WB self they see monie borrow every country? Because na all countries dey owe monie.

1 Like

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by teepain: 1:37pm On May 26

malali:
Oh so now you can analyse, you suddenly have working brain cells.......lol.
I am sure you know you need to have a job to be able to pay taxes, unemployed people dont pay taxes. Has tinubu created 10,000 jobs in his 3 years in power ?
You speak on only crude oil as revenue, what about the solid minerals ? How much has been spent on Ajaokuta steel ? What about all the agriculture he has been buying tractors for over 3 years for ?
Truth be said, Tinubu is learning on the Job, He has no clue how to create these opportunities he promised.

Building a road from sokoto to badagry ? To sell more goat meat i guess.....lol
Tinubu is worse than Buhari. He is selling crude oil at $100 per barrel.
Buhari sold crude oil at $30 per barrel
Buhari paid petrol and forex subsidy
Buhari did not collect all these crazy loans
Tinubu is not paying any subsidy,he is collecting crazy loans, we can see what he is doing with the loans, not even the power grid is reliable.
When we talk you mention Obi, who cares about Obi ?

Tinubu has no clue what he is doing !!! He is way over his head !!!

This is not an attempt to defend Tinubu but your data are contestable.

For instance, the CBN means and ways that Buhari abused is one of the loans you have not stated. Additionally, a lot of the forward sales contract of crude oil that happened under Buhari is such that the government of the day can't earn from some of the crude oil that is being lifted today. Thereby, denying the government of the ability to earn the current rates on the crude oil.

1 Like

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by APOSTLECHUMA: 1:50pm On May 26

NIGERIA IS THE DEFINITION OF A BIG FOR NOTHING USELESS COUNTRY

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by miketayo(m): 2:16pm On May 26

malali:

US has free education till college
US has free emergency healthcare for all
US has free medicare and medicaid for all above 65years old
US Social security for all citizens upon due retirement
US has a world class defense budget with bases strategically located all over the world
US has infrastructures, health,airports,space programs
US has no starving citizens
US has a functional power grid, with zero power failure in decades
US has and maintains a diversified economy.

Which free health care? They have millions of starving citizens

1 Like

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by Obainomilano: 2:18pm On May 26

In the UK they dont behead oyo teachers and kidnap school children ,in the UK citizens do not depend on 1k handouts from ur apc slave masters to feed ...u should be ashamed of mentioning Nigeria in any place with UK or us .. u should compare with somalia instead because that is the situation that ur apshit slave masters have taken this country with their looting and borrowing despite having huge oil resources and mineral resources

Flangelo12:
68 Billion, and people want to cry.

Mtcheew.

Personal debt in UK is £1.9 trillion.

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by Lithiumite: 2:54pm On May 26

Mattswaggz:
Is it from 70k minimum wage that anyone would pay huge taxes?.....or is it from business that owners needs to produce power for themselves that they'll make enough profit to pay huge taxes?. .

You see my friend, thats the very reason we are in the current parlous state we are in at the moment......you don't earn enough to pay taxes,govt doesn't bother you much to pay either then Nigeria remains poor and continues to be in the state it is in then the cycle continues.

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by Mattswaggz: 3:02pm On May 26

Lithiumite:
You see my friend, thats the very reason we are in the current parlous state we are in at the moment......you don't earn enough to pay taxes,govt doesn't bother you much to pay either then Nigeria remains poor and continues to be in the state it is in then the cycle continues.

That's right..... I am not exempting the citizens from the rot though but the ones who can actually make a change, who have the power to make a change (the leaders).... what are they doing apart from making things worse?.

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by Ofemannnu: 3:07pm On May 26*

Thank God Tinubu has paid off all IMF loans borrowed by previous govts.
World bank loan is just $18 billion? shocked

Within 2 years,Tinubu has paid almost $11 billion Nigeria's debts.
He should borrow more if he is using it for the benefit of Nigerians.South Africa owes 5 times the debt of Nigeria
Nigerians shall prosper.

1 Like

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by andrewza: 3:49pm On May 26

Freetech:
Most of the comments here are as a result of financial illetracy.

Talking about loan the first thing to consider is the balance sheet; Asset -liability. When it's positive irrespective of the size of your debt you are good to go

In case of Nigeria Reserves, population and natural resources remain high and far more than 18bil debt being discussed here.

Check the loan of other African countries to their population, you realise Nigeria is doing well. Nigeria debt is far lower when you consider total debt off Africa apart from world bank

Moreover most the loan are attached to verifiable project like East west road, railway, coastal road and Sokoto-badagry road

Why do you think the rating institutions continue rating Nigeria higher

Issue comes when you compare the debt as a portion of the budget. That matters far more since south Africa is able to better leverage its GDP in to a budget for the country

So looking at national budget

South Africa 146 billion dollars
Nigeria 32 billion dollars
Egypt 81 billion dollars

South Africa debt repayments is 21 billion
Nigeria debt repayments is 11 billion
Egypt 41 billion

So even with a high dept to GDP South Africa pays less money as a percentage of its budget to pay it off.

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Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by femi4: 7:25pm On May 26

Onigbese

1 Like

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by Daydream252(m): 9:03pm On May 26

Freetech:
Most of the comments here are as a result of financial illetracy.

Talking about loan the first thing to consider is the balance sheet; Asset -liability. When it's positive irrespective of the size of your debt you are good to go

In case of Nigeria Reserves, population and natural resources remain high and far more than 18bil debt being discussed here.

Check the loan of other African countries to their population, you realise Nigeria is doing well. Nigeria debt is far lower when you consider total debt off Africa apart from world bank

Moreover most the loan are attached to verifiable project like East west road, railway, coastal road and Sokoto-badagry road

Why do you think the rating institutions continue rating Nigeria higher

Bro you get heart oh do you think about the future of your kids when you say this government is doing well

1 Like

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by malali(op): 11:36pm On May 26

Freetech:
Most of the comments here are as a result of financial illetracy.
Talking about loan the first thing to consider is the balance sheet; Asset -liability. When it's positive irrespective of the size of your debt you are good to go
In case of Nigeria Reserves, population and natural resources remain high and far more than 18bil debt being discussed here.
Check the loan of other African countries to their population, you realise Nigeria is doing well. Nigeria debt is far lower when you consider total debt off Africa apart from world bank
Moreover most the loan are attached to verifiable project like East west road, railway, coastal road and Sokoto-badagry road
Why do you think the rating institutions continue rating Nigeria higher

Have you been to Egypt and South Africa.
Do you know Nigerians go to Egypt and South Africa for Healthcare ?
Do you know the unemployment rate in Egypt and South Africa ?
Egypt has a multi-billion-dollar high-speed rail network connecting the Red Sea to the Mediterranean.
South Africa: Uses capital to support advanced manufacturing sectors, automotive industrial parks (which supply global brands like BMW, Ford, and VW), and solid mineral beneficiation plants.
Egypt: Has built massive industrial cities and specialized economic zones (like the SCZone) focusing on textile manufacturing, green hydrogen projects, and chemicals.
Egypt: Utilized loans to transform itself from an energy-deficit nation into an electricity exporter. It built the massive Benban Solar Park (one of the largest solar installations in the world)

A vast portion of Nigeria’s borrowing has gone toward patching fiscal deficits or funding recurrent state budgets rather than executing highly integrated, economy-wide mega-projects.
Nigeria lacks Debt productivity....Tell me what Tinubu has done with all that debt, that's benefiting Nigerians en masse ?

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by malali(op): 11:38pm On May 26

Daydream252:
Bro you get heart oh do you think about the future of your kids when you say this government is doing well

Dont mind him, they are supporting the mismanagement of funds and reckless loan by this administration.

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by malali(op): 11:40pm On May 26

andrewza:
Issue comes when you compare the debt as a portion of the budget. That matters far more since south Africa is able to better leverage its GDP in to a budget for the country

So looking at national budget

South Africa 146 billion dollars
Nigeria 32 billion dollars
Egypt 81 billion dollars

South Africa debt repayments is 21 billion
Nigeria debt repayments is 11 billion
Egypt 41 billion

So even with a high dept to GDP South Africa pays less money as a percentage of its budget to pay it off.

Thank you for the analysis.
Also these countries have major infrastructure to show for these loans
Egypt exports power from their Benbar solar power plant which they built.
Nigeria cannot show one world structure despite all these crazy loans.

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by malali(op): 11:43pm On May 26

Ofemannnu:
Thank God Tinubu has paid off all IMF loans borrowed by previous govts.
World bank loan is just $18 billion?
Within 2 years,Tinubu has paid almost $11 billion Nigeria's debts.
He should borrow more if he is using it for the benefit of Nigerians.South Africa owes 5 times the debt of Nigeria
Nigerians shall prosper.

Go and look at the world class hospitals and schools in South Africa
Go and look at industries in South Africa
South Africa: Uses capital to support advanced manufacturing sectors, automotive industrial parks (which supply global brands like BMW, Ford, and VW), and solid mineral beneficiation plants.

Tell me one world class project Tinubu has done with all the loans he has collected ?

Re: Five African Countries Top World Bank Borrowers, Owing $67.8 Billion by malali(op): 11:44pm On May 26

miketayo:
Which free health care? They have millions of starving citizens

Yes they do, with Boko haram and insecurity too......

Defending Tinubu is a full time job i bet.....

1 2 3 Reply

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