Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability - Politics (2)

Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability - Politics (2) - Nairaland

Nairaland Forum › Nairaland General › Politics › Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability (3709 Views)

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Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by DoTheNeedful: 11:16pm On Jun 09*

DLSReigns:
What are you saying? When govt is collecting tax from us to service debt, do we not pay in Naira? What difference does it make? You and your cohort are the dishonest ones. May Nigeria happen to you. So you can feel the workings of the govt.

If you knew what debt servicing was about, you would know that most are going to debts obtained by previous administrations. Any loan this current administration is taking will mostly be serviced in coming years.

Criticism is needed in a democracy, but we should also try to be objective.

Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by DoTheNeedful: 11:18pm On Jun 09

Naudeyrushme:
Whether its presented in Naira or pounds. Accountability is the issue here, was the funds utilised properly.

The currency used in presenting monetary figures is very important. You think politicians and opposition switch from dollar to naira and naira to dollar don't know what they are doing?

Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by DoTheNeedful: 11:21pm On Jun 09

bigwig071:
honestly one way or the other an evil person must see a way to defend evil openly.... The was question way what is all borrowed money used for and what happened to the so called natural resources the Nigeria has?

Yes, I am an evil person for pointing out an obvious intellectual dishonesty. It is people like you that bring hatred to Obi. There is absolutely nothing distasteful about my earlier comment. The issue with people like you is that you don't want the smallest criticism of him, even if justifiable.

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Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by bamayo(m): 11:21pm On Jun 09

I am surprised that even Peter Obi would be petty about Nigeria debt.
he's not an intelligent as I think.
naira devaluation doesn't increase our debt. our debt can be measured using more stable currency which is dollar, because all the money borrowed were not in naira but dollar.
if we check the debt profile before Tinubu took office and the debt profile now, it's almost the same in dollar term.
Nigeria debt has not really increased in dollar term.
we shouldn't forget that Nigeria is also paying debt monthly so, we should not expect the debt not to change.
Tinubu also paid more debt than other presidents before him that's why despite that he was borrowing, the debt profile has not increased.
Peter Obi should look for other things to criticise the government not on petty thing like debt

Burob:
U people have refused to work, so o guy Jagaban must borrow to cater for una.

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Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by favour32(m): 11:24pm On Jun 09

Tinubu is a failure.
The facts are there.

Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by MrCaesar: 11:28pm On Jun 09

DoTheNeedful:
Obi is not being honest with his presentation of Nigeria's debt. The fact is that Nigeria still has one of the lowest debt to GDP in Africa and in the world.

In all my life, I have known our debt both local and foreign to be presented in dollars. Obi and some opposition figures, knowing that our debt is not outrageous, intentionally convert the debt to naira to sensationalize the figures and scare people.

It's not easy to be an APC supporter.

So, you are defending Tinubu's reckless borrowing?

The funny thing is the the same people would convert the minimum wage back to dollars to make people see how small it is.

There are so many things about Tinubu's government that the opposition can criticize. Going to the extent of converting figures from naira to dollar and dollar to naira, depending on the argument they want to make, is low. It shows they don't have much to criticize, and they are just playing cheap politics.

Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by Geometrix(m): 12:03am On Jun 10

The objectivity here is that there is no coordinated growth plan amidst the borrowing. Talking of previous debt that has been incurred, Obj comes to mind. There is nothing wrong for this this administration to consult people with proven experience and capability if they really want it. The government at moment experiencing a windfall in oil revenue courtesy of the Iranian war, they should be able to balance any shortfall in the Budget. But...

DoTheNeedful:
If you know what debt servicing is about, you would know that most are going to debts obtained by previous administrations. Any loan this current administration might be taking would mostly be service in coming years.

Criticism is needed in a democracy, but we should also try to be objective.

Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by Geometrix(m): 12:10am On Jun 10

Are you indirectly saying that tinubu got it wrong on the devaluation policy?
According to the debt profile in dollars are almost the same both pre and now.. that's cool . So I want to ask what really was the benefit of the naira devaluation?

bamayo:
I am surprised that even Peter Obi would be petty about Nigeria debt.
he's not an intelligent as I think.
naira devaluation doesn't increase our debt. our debt can be measured using more stable currency which is dollar, because all the money borrowed were not in naira but dollar.
if we check the debt profile before Tinubu took office and the debt profile now, it's almost the same in dollar term.
Nigeria debt has not really increased in dollar term.
we shouldn't forget that Nigeria is also paying debt monthly so, we should not expect the debt not to change.
Tinubu also paid more debt than other presidents before him that's why despite that he was borrowing, the debt profile has not increased.
Peter Obi should look for other things to criticise the government not on petty thing like debt

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Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by tiger28: 12:29am On Jun 10

If we BORROWED in DOLLARS, then our debts should be calculated in DOLLARS…. NOT Naira……If you check the Dollar VALUE of our loans, it has improved contrary to what is being said here.

Obi gaffed AGAIN!

FACTUALLY, our reserves rose from N3 Billion to N40 Billion in 3 years then we are surely heading in the RIGHT direction.

I am no Tinubu fan BUT I am a lone thinker and very objective……Pls let us all act on FACT and not SENTIMENTS.

Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by Geometrix(m): 12:40am On Jun 10

You have an accumulated debt of 10 dollars in 2025 and cumulatively you will pay the debt with 8000 naira..in 2026 you are paying the debt plus other ones, let's assume it is still the 10dollars with 13000. You own be say just calculate it dollars. On the issue of reserve, what was the value of the 3 billion naira versus 40 billion naira today.

tiger28:
If we BORROWED in DOLLARS, then our debts should be calculated in DOLLARS…. NOT Naira.

Obi gaffed AGAIN!

FACTUALLY, our reserves rose from N3 Billion to N40 Billion in 3 years then we are surely heading in the RIGHT direction.

I am no Tinubu fan BUT I am a lone thinker and very objective……Pls let us all act on FACT and not SENTIMENTS.

Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by Reference(m): 12:52am On Jun 10

That is why they MUST win the upcoming elections or simply start booking whole cell blocks. It is that simple.

1 Like

Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by abbaashiru(m): 12:55am On Jun 10

Okay, now 200tn is madness

Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by Tenses: 3:28am On Jun 10

DoTheNeedful:
Obi is not being honest with his presentation of Nigeria's debt. The fact is that Nigeria still has one of the lowest debt to GDP in Africa and in the world.

In all my life, I have known our debt both local and foreign to be presented in dollars. Obi and some opposition figures, knowing that our debt is not outrageous, intentionally convert the debt to naira to sensationalize the figures and scare people.

The funny thing is the opposition would convert the minimum wage back to dollars to make people see how small it is.

There are so many things about Tinubu's government that the opposition could criticize. Going to the extent of converting figures from naira to dollar and dollar to naira, depending on the argument they want to make, is low. It shows they don't have much to criticize, and they are just playing cheap politics.

You can not bastardize the naira with terrible policies and expect not to be judged by the same naira you made useless.

The true story of tinubu borrowing spree lies on the naira.

The best way to counter this perceived "LIES" is to strengthen the naira and watch how these lies fade away.

But until then.

Nah dollars you dey use buy one bushel of rice for Abakaliki ricemill?

Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by DoTheNeedful: 3:49am On Jun 10

Tenses:
You can not bastardize the naira with terrible policies and expect not to be judged by the same naira you made useless.

The true story of tinubu borrowing spree lies on the naira.

The best way to counter this perceived "LIES" is to strengthen the naira and watch how these lies fade away.

But until then.

Nah dollars you dey use buy one bushel of rice for Abakaliki ricemill?

A strong local currency is overrated. It does not necessarily make a citizen poor or the economy bad. The naira today has more value than the South Korean won, yet South Korea is one of the richest in the world. The currency of Indonesia, the country Obi likes to talk about as a standard is significantly weaker than naira. In fact 1USD = 18,000 Indonesian Rupiah. The Japanese yen is signifcantly weaker than the South African rand, yet Japan is far more wealthier than South Africa.

There is nothing really bad with devaluation. Rather, it is much needed for a country like Nigeria. We are just experiencing the initial shock of devaluation. The economy and people's wages will adjust properly to the relatively new naira in the coming months or years.

Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by Tenses: 3:53am On Jun 10

DoTheNeedful:
A strong local currency is overrated. It does not necessarily make a citizen poor or the economy bad. The naira today has more value than the South Korean won, yet South Korea is one of the richest in the world. The currency of Indonesia, the country Obi likes to talk about as a standard is significantly weaker than naira. In fact 1USD = 18,000 Indonesian Rupiah. The Japanese yen is signifcantly weaker than the South African rand, yet Japan is far more wealthier than South Africa.

There is nothing really bad with devaluation. Rather, it is much needed for a country like Nigeria. We are just experiencing the initial shock of devaluation. The economy and people's wages will adjust properly to the relatively new naira in the coming months or years.

In the coming months or years you said 🤔

This is over 3 years since the naira devaluation yet no succour at hand.

Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by Iyeku: 4:35am On Jun 10

Obi Obi Obi Lamba King of Agulu land of Anambra has come again with irrelevant statistics. He will never smell Aso rock

Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by iamjavadem(m): 7:13am On Jun 10

Collecr tax from us to pay debt? What ignorance. Ifnyou dont know anything, just keep quiet. Tax to pay debt, hahahahahaha.

DLSReigns:
What are you saying? When govt is collecting tax from us to service debt, do we not pay in Naira? What difference does it make? You and your cohort are the dishonest ones. May Nigeria happen to you. So you can feel the workings of the govt.

Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by Jayhome24: 7:17am On Jun 10

Klington:
Tinubu the failure only came to waste Nigerian resources

Oga do your worst na. You think we are moved by all these stew-pid noise? Hell No, your Eze obi go wail till 2099.

Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by Ikpunnegi1: 9:23am On Jun 10

Yens77:
Agulu fraud , agbotikuyo 1 of anambbra

Enemies of the Z00 republic . Don't worry, tilumbu will rule again.

Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by MemphitzDgreat1(m): 10:26am On Jun 10

yarimo:
and the same obi have never live in anambra state for 24 hours even as incumbent governor, always in TINUBU Lagos state

"The President Tinubu economic reforms are working , but poverty is increasing"
World Bank says
Oga Yarimo, how can an economy be working and poverty is increasing simultaneously? How can a working economy not attracting investors?How can you approbate and reprobate at the same time ?

Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by Slic1: 3:34pm On Jun 10

Why are you confusing yourself.
The question is, where is the balance of the borrowed money since on 17% was used for capital projects.
Explain please.

DoTheNeedful:
Obi is not being honest with his presentation of Nigeria's debt. The fact is that Nigeria still has one of the lowest debt to GDP in Africa and in the world.

In all my life, I have known our debt both local and foreign to be presented in dollars. Obi and some opposition figures, knowing that our debt is not outrageous, intentionally convert the debt to naira to sensationalize the figures and scare people.

The funny thing is the opposition would convert the minimum wage back to dollars to make people see how small it is.

There are so many things about Tinubu's government that the opposition could criticize. Going to the extent of converting figures from naira to dollar and dollar to naira, depending on the argument they want to make, is low. It shows they don't have much to criticize, and they are just playing cheap politics.

Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by Slic1: 3:40pm On Jun 10

The question is how the borrowed funds are being utilized.
After spending 17% of the borrowed funds in 2025 on capital projects where is the balance?
Explain sir if you know.

DoTheNeedful:
A strong local currency is overrated. It does not necessarily make a citizen poor or the economy bad. The naira today has more value than the South Korean won, yet South Korea is one of the richest in the world. The currency of Indonesia, the country Obi likes to talk about as a standard is significantly weaker than naira. In fact 1USD = 18,000 Indonesian Rupiah. The Japanese yen is signifcantly weaker than the South African rand, yet Japan is far more wealthier than South Africa.

There is nothing really bad with devaluation. Rather, it is much needed for a country like Nigeria. We are just experiencing the initial shock of devaluation. The economy and people's wages will adjust properly to the relatively new naira in the coming months or years.

Re: Obi Slams Tinubu Over Rising Debt, Says N200tn Borrowed Without Accountability by bigwig071: 6:48am On Jun 25

How Would You Justify The Following Extravagant Spendings Under Tinubu's Government:

1. 21 Billion Naira To Renovate The Vice President House. No like they bought new kidneys or anything...for a house already functional. Done with public funds.

2. 70 Billion Naira To The National Assembly Members To Buy SUVs At The Cost 160 Million Naira Per One For Senators And House Of Representatives Members Specifically. To buy silence is every expensive.

3. 4 Billion Naira To Renovate Dodan Barrack Lagos Another 3 Billion Naira To Renovate Aguda House

4. 5 Billion Naira Was Given To Presidential Tax Reforms Committee Of Less Than Twenty People Headed By Taiwo Oyedele With Nothing To Show For It

6. 1.5 Billion Naira To Purchase Cars For Your Wife Senator Oluremi Tinubu Despite The Fact That First Lady Office Is Not Recognised By Our Constitution. Public funds they will later come around and claim they donated.

7. 300% Salary Increase For The Judges Which Was Speedily Passed By The Insensitive And Irresponsible Senators. The law has been bought.

8. 5 Billion Naira Was Budgeted For Presidential Fleet Of Cars For President Bola Ahmad Tinubu. I mean for someone who already has over 40 cars following him already.

9. 5 Billion equally budgeted for Presidential Yatch. The commonwealth is now a personal wealth.

10. 225 Billion naira spent on so-called Presidential Jet Festus Keyamo compensated.

11. 90 Billion naira spent on 2024 Hajj pilgrimage . Religion is a personal business. This is extravagant and irrelevant.

12. Billions of Naira Was Budgeted For Trips Including The Vice President Kashim Shettima To The Detriment Of The Citizens

13. Every Senator Is Paid 21 Million Naira Monthly

14. House Of Representatives Are Earning 13.5 Million Monthly All The Increment Was Done By Tinubu's Government

15. 15 Trillion Naira Lagos Calabar Coastal Road Was Awarded Illegally To Tinubu's Friend A Lebanese Gilbert Chagoury Who Was Repatriated Back To His Country By The Former President Obasanjo. I mean "awarded." No bids.

16. Billions lavished to lobbyist to romance against the Christian genocide.

17. How about the crazy number of ministers doing nothing?

Nigeria is a rich country. But ruled by the worst.

Argue with yourself.

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