₦airaland Forum

It’s just token money to them. Even the estates and wealth left behind by their deceased celebrities could easily pay it off.

That's why my mindset about borrowing changed. If US can be owing this much, Dangote is owing, Otedola owing, who am Inot to owe?

So long as it's used to invest, we good

Jakarta:
Massive construction keh, constructions wey dem dey use take do looting avenue. Upgrading your grid, yet Ur Aso rock wants to use ₦10B to install solar, no be juju be that? Your government don fit pay the over ₦3T igbese it currently owes electricity generation companies?

Sir, we have not reach $40tn and still under $150bn.

Us clearing our debt is feasible. Even if US steal all of Venezuela, they cannot pay off that debt. Do they want to tax their population who are debtors themselves?

We are on course, they are drowned already.

At least the APC fans will masturbate on this tread so as to cool off for awhile.

HacheNoire:
Sir, we have not reach $40tn and still under $150bn.

Us clearing our debt is feasible. Even if US steal all of Venezuela, they cannot pay off that debt. Do they want to tax their population who are debtors themselves?

We are on course, they are drowned already.

And after borrowing over #120B, good roads, electricity, portable drinking water still remains luxuries. Just like how your lord is currently taxing Nigerians to death? Nigeria poverty rate is currently over 50%.

No oo it's AI cus only Nigeria is in debt according to those useless I d I o t s.

Belurved1:
It’s just token money to them. Even the estates and wealth left behind by their deceased celebrities could easily pay it off.

$40tn is a token?

So if I call the US GDP a token, you will agree?

Maybe you not good with numbers. We talking about FOURTY TRILLION

Jakarta:
And after borrowing over #120B, good roads, electricity, portable drinking water still remains luxuries. Just like how your lord is currently taxing Nigerians to death? Nigeria poverty rate is currently over 50%.

Be patient with us. US spent $40 trillion to get there.

Let us get to $40 trillion too before you judge us.

Jakarta:
Just like how Nigeria's public debt jumped from ₦12.6 trillion for 55 years after independence to ₦159.35 trillion in 11 years of APC led FG. Even after the removal of subsidy, floating of the naira, increasing customs duty, increasing electricity tariff, increasing VAT, PBAT alone added over ₦71T to Nigeria's debt in just 33 months with almost nothing to show for it.

So all those infrastructures etc are being executed with sand sand abi?

Ritchiee:
So all those infrastructures etc are being executed with sand sand abi?

Infrastructures wey only fit vex use my personal money execute? Borrow ₦50B loot ₦49B, use ₦1B for infrastructure, suffer no dey tire you?

HacheNoire:
Be patient with us. US spent $40 trillion to get there.

Let us get to $40 trillion too before you judge us.

US is already handling it by using just 18% of its revenue unlike the bambiala that uses over 67% of his revenue to service debts.

Jakarta:
Just like how Nigeria's public debt jumped from ₦12.6 trillion for 55 years after independence to ₦159.35 trillion in 11 years of APC led FG. Even after the removal of subsidy, floating of the naira, increasing customs duty, increasing electricity tariff, increasing VAT, PBAT alone added over ₦71T to Nigeria's debt in just 33 months with almost nothing to show for it.

Our total debt is like 0.005% of US debt.

Tareq1105:
Our total debt is like 0.005% of US debt.

And our revenue is like 0.00000000001% of US revenue.

CaseSensitive:
And it will continue on the upward trajectory. Average American has been bled dry, Trump cut taxes far more than he cut government expenditure. It cost billions of $a day to service this debt, bond market are selling off their holdings, investors are requesting higher yields, worried about long term investment. It's only a matter of time everything goes kaboom. A great reset is coming and what precedes a reset? WAR!. Yes maybe 3rd WW is just around the corner, if it hasn't started already.

Trump may devalue the dollar 💰

RealLordZeus:
Nearly all countries owed hundreds of trillions of dollars.. who exactly are we owing.. aliens..
I hope the US doesn't crash the financial system soon sha because they want to keep the dominance

Which dominance are they trying to keep with these fake life they are living with soaring debt. Infact if petrodollar deal collapse today, American is done for it.

They are just lucky that dollars is regarded as dominant global currency and being helped thru petrodollar deal if not they can sustain this kind of debt for long. No wonder they have ballooning military budget as if they get that money, na borrow borrow here and there.

Abeg which country is truly free from debt. That's real country. The very interest financial system they created will one day consume them. Because once people, organization corporation decided not to lend them their money, they will realize how ephemeral their supposed superpower is.

Jakarta:
And our revenue is like 0.00000000001% of US revenue.

Whatever. If you look at our debt of #157t which is not up to $1t. Take 157/1346×100/1. Work it out and you'll agree with me.

They can print that amount in few days

Many countries depend on they dollar that why they keep printing and forcing people to use dollars if you don’t use dollars they will destroy you .

Before dollar was back by gold but European discovered they have no gold to back the dollar that was why France withdrew it gold . They now force Arab to sell the oil with dollar or face sanctions and regime changes.

Jakarta:
Massive construction keh, constructions wey dem dey use take do looting avenue. Upgrading your grid, yet Ur Aso rock wants to use ₦10B to install solar, no be juju be that? Your government don fit pay the over ₦3T igbese it currently owes electricity generation companies?

If previous govts have done the same massive construction to loot,Nigeria would have been very much developed and progressive.
It would have been cynosure of all eyes because infrastructure is what drives constant electricity,cheap food,robust transportation etc.
The previous govts like that of Gowon,Shagari,Obasanjo,Jonathan...this gentleman made the highest revenue in oil in the history of Nigeria...just looted the humongous funds budgeted for infrastructures.

Tareq1105:
Whatever. If you look at our debt of #157t which is not up to $1t. Take 157/1346×100/1. Work it out and you'll agree with me.

And if you check very well and make research you will find out that we are using #67k to service debts out of every 100k we make as a country. Please can you answer this, even with all these debts why is the world still using USD as the world primary reserve currency?

Putinofrussia:
If previous govts have done the same massive construction to loot,Nigeria would have been very much developed and progressive.
It would have been cynosure of all eyes because infrastructure is what drives constant electricity,cheap food,robust transportation etc.

Previous governments paid subsidies, spent money in defending the naira, had very low VATs and customs duties, still borrowed less than a government that didn't pay subsidy nor spent a dime in defending naira, yet increased VATs, and duties, spent over ₦7T in a so called non existent subsidy AKA energy security cost, yet still borrowed more than those previous governments combined.

Tareq1105:
Trump may devalue the dollar 💰

He may devalue the dollar? He's already doing that consistently and deliberately. Remember when he jokingly said the dollar is too strong? Obviously that will cause international traders to sell off greenback. He also lambasted the Federal Reserve for keeping interest rates high, pressuring them to slash rates to lower borrowing costs and suppress the dollar.

His aggressive tariffs and trade policies too are deliberate in my opinion because investors will pull back from US equities which would in turn weaken the dollar. A weakened US dollar would make that debt easier for the US government to pay back over time.

Investors will lose confidence though, when an administration intentionally weaken its currency. That also explains why gold price has climbed so high recently because it's a tangible asset.

RealLordZeus:
Nearly all countries owed hundreds of trillions of dollars.. who exactly are we owing.. aliens..
I hope the US doesn't crash the financial system soon sha because they want to keep the dominance

Not all countries
If 54 countries in Africa dumb the dollar now lol it's finished for USA

Food4Thought:
At least the APC fans will masturbate on this tread so has to cool off for awhile.

I need lubricant sir my hand dey pain me

Jakarta:
Previous governments paid subsidies, spent money in defending the naira, had very low VATs and customs duties, still borrowed less than a government that didn't pay subsidy nor spent a dime in defending naira, yet increased VATs, and duties, spent over ₦7T in a so called non existent subsidy AKA energy security cost, yet still borrowed more than those previous governments combined.

lol
The total money Jonathan paid on subsidy was just #1 trillion,our population was very much less than what we have today,
while he made #54 trillion in only oil and embezzled all the billions of dollars in ECA.They also looted the foreign reserve from $45 billion that Obasanjo left it down to $30 billion.
One of the most corrupt,wicked and clueless govts ever in the history of Nigeria.
The only achievement was we grew our gdp due to the sale of oil but when oil became just $78,Nigeria was totally down in 2014 and Jonathan was borrowing money to pay workers.They have eaten Nigeria to the bone marrow
They have embezzled all the billions of dollar without building any tangible infrastructure.They opened borders for cheap food so Nigerians can buy rice for #100 per bag while they went on their embezzlement spree and Nigeria went down and down.Nigeria had been depleted but #10 bag of rice is what gullible Nigerians know.
What grows a nation is "infrastructures".
Every other thing will follow.
Ask Dubai,South Africa,UK,USA etc.

Leepeak:
I need lubricant sir my hand dey pain me

Na soap I fit afford for you.
At least the water you gat there will turn it into a lubricant.
Take it.

Omo na to buy gold ooo dey keep
I dey see vision

Fekumzi123:
As old as I am, I don't understand all these debts.
Countries are owing US yet US is owing?
Must everyone be in debts? This life na Better scam ooo

The US owe the Federal Reserve.

plessis:
The US owe the Federal Reserve.

The US owes China etc but owes domestic debt more than external.
The United States national debt stands at roughly $40 trillion. About 68% to 70% of the public debt is held domestically inside the U.S., and about 30% to 32% is held externally by foreign investors and governments.

Smartguyboy:
They can print that amount in few days

Many countries depend on they dollar that why they keep printing and forcing people to use dollars if you don’t use dollars they will destroy you .

Before dollar was back by gold but European discovered they have no gold to back the dollar that was why France withdrew it gold . They now force Arab to sell the oil with dollar or face sanctions and regime changes.

No, the United States cannot print money to pay off its national debt without severe negative consequences. Doing this would trigger runaway inflation, destroy the value of the US dollar, spike interest rates, and crash the economy, making everyday goods unaffordable for regular citizens.
President Tinubu is just partly covering Buhari because the main cause of the rise in inflation was the printing of almost #30 trillion by late Buhari...may he rest in peace....He didn't know much about Economy and thought he was protecting Nigerians.
If he had used one more year,Nigeria would have become bankrupt and this hardship we are feeling now would have been child play.
This hardship will ease gradually because this is the very first time Nigeria GDP is growing faster than its population.We might hit almost $900 billion if this trajectory is maintained but I am sure the fervour will increase and we might click the $ trillion mark by 2030.

Who dey even borrow dis countries dis money self?

Jakarta:
Just like how Nigeria's public debt jumped from ₦12.6 trillion for 55 years after independence to ₦159.35 trillion in 11 years of APC led FG. Even after the removal of subsidy, floating of the naira, increasing customs duty, increasing electricity tariff, increasing VAT, PBAT alone added over ₦71T to Nigeria's debt in just 33 months with almost nothing to show for it.

If you stop following politicians and sit down to study monetary economics, you would known that the things you listed above are fuels for inflation.

Putinofrussia:
lol
The total money Jonathan paid on subsidy was just #1 trillion,our population was very much less than what we have today,
while he made #54 trillion in only oil and embezzled all the billions of dollars in ECA.They also looted the foreign reserve from $45 billion that Obasanjo left it down to $30 billion.
One of the most corrupt,wicked and clueless govts ever in the history of Nigeria.
The only achievement was we grew our gdp due to the sale of oil but when oil became just $78,Nigeria was totally down in 2014 and Jonathan was borrowing money to pay workers.They have eaten Nigeria to the bone marrow
They have embezzled all the billions of dollar without building any tangible infrastructure.They opened borders for cheap food so Nigerians can buy rice for #100 per bag while they went on their embezzlement spree and Nigeria went down and down.Nigeria had been depleted but #10 bag of rice is what gullible Nigerians know.
What grows a nation is "infrastructures".
Every other thing will follow.
Ask Dubai,South Africa,UK,USA etc.

Was this current government not voted in to change the status quo? Here are stats for your current government payment for a so called energy security cost AKA subsidy. Same subsidy they said was gone.
2023: ₦4.844 trillion
2024: ₦7.131 trillion
2025: about ₦8.672 trillion
2023 - 2025 combined: roughly ₦20.64 trillion for a non existent subsidy. Let's not talk about the billions budgeted for non existent agencies. Same current government spent $3B on non working refineries. As bad as they were, the past governments made more positive impacts on Nigerians than this current ebin pawa promax government.