₦airaland Forum

Below is a pictoral depiction of government debt in Africa.

Note that this is published in the interests of information, and not to make us feel bad or good about ourselves. As someone who thinks that we need to reduce our debt, we have to support a candidate that would improve productivity. All the candidates na the same, but only Obi is talking about and has talked about productivity. Well, I know most of you won't vote for him, but i plan to, and I hope y'all would at least consider that we got to increase domestic production, whoever you vote.

Source : INTELPOINT

Also below, countries with lowest debt to IMF.(sauxe)

₦1 I no see inside but they say I dey owe.
Ok na.

Another person borrow dey furnish en life and family, another person go pay bah?

Nigeria has nothing to show for such debt.

chatinent:
₦1 I no see inside but they say I dey owe.
Ok na.

Another person borrow dey furnish en life and family, another person go pay bah?

Lol!! Ogbeni no fear you hear? Na Nigeria govt dey owe them no be her citizen. If na the citizens we for don gather share the country assets since.

Sheuns:
Nigeria has nothing to show for such debt.

The debt is why we get salaries paid and some projects completed, as well as some other things done.

If we wanted a really good life, we would need an economy that is generating hundreds of billions of dollars, not the scanty less than 100 billion dollars it manages, and a gdp that is a joke. That is why when voting next year, look for the candidate that has talked about better domestic productivity.

Debt has never been a problem
Debt service to revenue ratio is key

Someone countries with higher debt might have healthier fiscal state than countries with lower debt

Nigeria issue is debt servicing to revenue which is why it’s crazy why apc keep borrowing to build road and rail

Projects that would increase debt servicing n recurrent expenditure without increasing revenue

It makes no sense

It is well with our country Nigeria

Children of delusion go think say na A.I. Somebody please show me at least 5 productive venture projects that justify this amount of debt

mrvitalis:
Debt has never been a problem
Debt service to revenue ratio is key

Someone countries with higher debt might have healthier fiscal state than countries with lower debt

Nigeria issue is debt servicing to revenue which is why it’s crazy why apc keep borrowing to build road and rail

Projects that would increase debt servicing n recurrent expenditure without increasing revenue

It makes no sense

Actually, a lot of african countries do borrow to build rail and road.

Kenya has a very lovely railway, that was built with borrowed money. Ghana even took loans for railways not too long ago

The problem is, most African countries rely on selling minerals and agric products to the international markets, as well as oyel. And guess what, we do not set the prices, so if prices are too too low, wahala dey for government budget and the treasury

So, loans result.

If Tinubu stay a little longer we will be very close to South Africa

nairalanda1:
Actually, a lot of african countries do borrow to build rail and road.

Kenya has a very lovely railway, that was built with borrowed money. Ghana even took loans for railways not too long ago

The problem is, most African countries rely on selling minerals and agric products to the international markets, as well as oyel. And guess what, we do not set the prices, so if prices are too too low, wahala dey for government budget and the treasury

So, loans result.

Not holding brief for him though
Building railways that generate revenue for government is good investment

Nackzy:
If Tinubu stay a little longer we will be very close to South Africa

We can remove tinubu, but if the new government doesn't bring in changes like diversifying the economy and improving domestic production, forget about any change in our rising debt profile.

Nigeria is not among the most indepted country despite the socioeconomic development currently ongoing.
Kudos to our recent leaders starting from Obasanjo.
These guys tried.
By the time, Tinubu is done with roads, another leader will face railways and other stuffs.

Nigeria is still the richest country in Africa, no doubt about that.

They increase foreign reserve so that they can qualify for more loans and ronu people will be rejoicing over increment in foreign reserve.

When Jonathan was saving for the raining days, it was tinubu people that shouted and took GEJ to court, asking that GEJ share the money.

All they know is loan, loot and lavish

3RIPLE L government.

Wailers go cry tire. Dem go cry blood

Abeg anybody that’s giving Africa , especially Nigeria money, make e continue. Cuz if na me , I go de collect. Cuz una no rate Africa

Same as what we've been saying. Opposition glories in saving money, not seeing the realities of modern governance and prior wastage.
You must source funds(debts) in today's governance style to meet up. The world and your country will not wait for you to save up to develop and maintain infrastructure. GDP growth pressure go pressure you die.

When they campaign that they'll provide electricity and internet and hospital and road and jobs, everything is ONLY achievable by huge debt in today's world. Sorry.

Nigeria $103B,

Emilokan is telling to bear with his reforms .

Must we borrow? That should be the question. For those who always say borrowing is not bad bla bla bla. Check quality of life in those indebted countries, see how south Africans crying go beck day and night.

This chart shows an important lesson: high debt alone is neither good nor bad. What matters is what the money is borrowed for and whether the economy can repay it.

Countries like South Africa, Egypt and Morocco have large debt burdens, but a significant share has gone into infrastructure, power, transport, industrial development and social programmes that support larger economies. Whether those investments generate enough growth is another debate.

On the other hand, some countries with relatively lower debt remain underdeveloped because of weak tax collection, poor industrialisation, insecurity, corruption, political instability and limited investment. Low debt is meaningless if an economy is stagnant.

The real danger is borrowing to fund recurrent expenditure, fuel subsidies, debt servicing or consumption, instead of productive assets that increase GDP and government revenue.

In short, the quality of borrowing matters more than the quantity. Debt that builds roads, rail, ports, power and industries can pay for itself. Debt that finances consumption simply shifts today's bills to future generations.

Nigeria's debt is higher than that figure being bandied in this thread
Nigeria owes world bank the highest in Africa

nairalanda1:
The debt is why we get salaries paid and some projects completed, as well as some other things done.

If we wanted a really good life, we would need an economy that is generating hundreds of billions of dollars, not the scanty less than 100 billion dollars it manages, and a gdp that is a joke. That is why when voting next year, look for the candidate that has talked about better domestic productivity.

If I mention that politicians should cut how they spend on themselves, you’ll make excuses for them as always.

I still do not buy your idea that Nigeria needs to borrow more to do more.

I still stand on cut all unnecessary expenses and hyper inflated figures of projects by politicians.

Until then.

Sheuns:
If I mention that politicians should cut how they spend on themselves, you’ll make excuses for them as always.

I still do not buy your idea that Nigeria needs to borrow more to do more.

I still stand on cut all unnecessary expenses and hyper inflated figures of projects by politicians.

Until then.

1. Nigeria does not need to borrow more, we need to be more productive and also to have better fiscal discipline

2. Politicans need to cut their expenses, but it won't result in our current government income rising to the level where it would be enough for all in a satisfactory manner

nairalanda1:
Actually, a lot of african countries do borrow to build rail and road.

Kenya has a very lovely railway, that was built with borrowed money. Ghana even took loans for railways not too long ago

The problem is, most African countries rely on selling minerals and agric products to the international markets, as well as oyel. And guess what, we do not set the prices, so if prices are too too low, wahala dey for government budget and the treasury

So, loans result.

What majority of average people don't know is that, the world economy is being run by competitive advantage. Developed countries sees third world or underdeveloped countries as industrial markets to finance their economy. Sometimes, it may be very difficult for these countries to move from consumption to production simply because they are taking necessary industrial markets from those that have tools and technologies to make it happened. There are countries that relies heavily on medical, social and education tourism to finance their economy, will these countries open their eyes and send you tools and modern robots to do it locally and starve their economy of incomes generated from these channels?

Developed countries won't stop you from production but they will make sure the cost of production after setting it up for you will be more than the ones you import from them. Aside that, they will use standardize policy to frustrate the local industries by tagging it unfit for global markets.

The only viable option for poor countries is to look inward and develop at their own pace in order to compete globally.

Na dem! Na Bayo Onanuga dem.

They're telling you pictorially that Tinubu has not even started borrowing yet. Expect more borrowing to be looted.

I say na dem. Na Bayo Onanuga dem.

We know their modus...

Image123:
Same as what we've been saying. Opposition glories in saving money, not seeing the realities of modern governance and prior wastage.
You must source funds(debts) in today's governance style to meet up. The world and your country will not wait for you to save up to develop and maintain infrastructure. GDP growth pressure go pressure you die.

When they campaign that they'll provide electricity and internet and hospital and road and jobs, everything is ONLY achievable by huge debt in today's world. Sorry.

Not quite true, if corruption and impunity is eliminated and visionary leadership champions an industrialised economy not, legacy road infrastructures this govt is borrowing for.

Here's a list of African countries and their external debts

nairalanda1:
Below is a pictoral depiction of government debt in Africa.

that one concern you. If you like print it out and paste it on Bola office window

we will still borrow 20 billion dollars before November

Indelibleword:
Not quite true, if corruption and impunity is eliminated and visionary leadership champions an industrialised economy not, legacy road infrastructures this govt is borrowing for.

And who and how will corruption and impunity be eliminated? Is it Atiku or Obi? Or we've not seen them before? Which of them have better vision than the incumbent? Is it someone that could not see the trap he was entering jumping from one political party to another that has vision? Or someone that gave his state Hero beer? One of our highest importers in the country till date, shouting consumption to production. SMH

AllBlack:
that one concern you. If you like print it out and paste it on Bola office window

we will still borrow 20 billion dollars before November

We cannot borrow beyong the approved MTEF plan, be educated.