₦airaland Forum

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Copy copy Naija news sites, when did they start fact checking?

deji17:
Within a period of 6 years, they managed to also deplete the country savings by another $30 billion dollars, while they earned 400 billion dollars in 5 years, yet nothing to show it. PDP nearly bankrupt this country.

they looted abi you guys told us they looted and still yet things were not expensive.... Now they are not looting and things are expensive.... Use your head

Nemesis001:
Of course ,the information just as the dwarf pastor is false. It's a written epistle by BMO.



APC government borrowed twice what PDP borrowed in 16years.


Make no mistake, Federal government external debt shouldn't be added to state debts.

Both quoted years employ the same parameters, so how could the APC led FG borrow twice of what the PDP led FG borrowed, especially when we know that the FG debt component was just above $3b in 2010 but Jonathan took it above $10b, and the total debt for both states and FG has only risen by about $10b in the last 3yrs of APC?

You should be ashamed of yourself and your lotus eater party of locusts.

You are only frustrated that the trick your useless PDP tried to pull was factually used in showing how irresponsible the PDP led FG was between 2010 to 2015.

Why can't they make this information available since 2015? Accountability and transparency is the hallmark of a good government to its citizens.

Validated:
Osinbajo should stop confusing issues. The FG external debts should be separated from State Debts. A state like Lagos that have mounted billion of debts in Dollars was not under PDP.

The graph below shows who mounted what debts. It took PDP 16 years to wipe out Nigeria debts and only raised $10b. However, in just 3 years, APC doubled what took PDP 16 years

so far, you are the only one who can see through the VP's mind games.

pawesome:
they looted abi you guys told us they looted and still yet things were not expensive.... Now they are not looting and things are expensive.... Use your head

And why are things expensive now? And was there any commodity sold in 2015 that was cheaper than the 2010 price?

You should use your own head.

You should be asking why a regime that made so much revenue from crude oil, and spent all available FG savings, still went ahead to pile up debts, such that the moment Oil price began to slump towards $50/barrel, the same useless government had no choice but to borrow some more N470b ($2.5b) to pay civil servant salaries in the last 3months before May 2015.

Everyday you wake up, you should rejoice that Jonathan and PDP were not allowed to lead us to the path the Venezuelans found themselves.

ican2020:
the VP is a certified lier.
the only thing APC does well is to borrow and borrow, so, Monkey VP should shut up

Kids everywhere. Calling him a monkey, a position none of your family members may attend till the world comes to an end. Stop the jealousy. Jealousy is the last class before becoming a witch.

If the VP was being truthful, he would have stated who borrowed what. Between FG and SGs


Equally, this same government said it was earning more from farming than oil, liar Mohammed boasted of that, how come its not even considered in earnings? And custom brought in more than it ever has in years.

Half truths are equally lies Mr Pastor.

He won't lie. The facts are there.

I will tell my children to be afraid of the party called PDP.

See how they increase our debt in 2010---2015 instead of saving for the raining days.

Nogodye:
Atiku can never and will never be my option...

Then go and die

ican2020:
the VP is a certified lier.
the only thing APC does well is to borrow and borrow, so, Monkey VP should shujt up

waiting u be baboon

All this APC paid agents

See how they are masturbating on this useless thread to score cheap points .

Nigerians are Atikulating in millions everyday, Buhari and his lies are going back to Daura in 2019

Esseite:
How much of treasury bill and bonds have been sold?

Those form the class known as domestic public debt so they're captured in the figures already sir

deji17:
PDP almost looted Nigeria out of world map. Look at Dubai, look at Nigeria. They did something with their oil money.
The likes of Atiku takes our money there to enjoy themselves.

These facts are what we need not just abusing or blaming the PDP.
I do not trust any politician because most or even all of them are basically rogues.
We,my friends and I... and believe me.... we are a multitude,are having a change of mind to vote for bubu now because there seem to be light at the end of the tunnel after all according to the facts we are witnessing lately.
We beg bubu to please stop the killings.

[s]

Nogodye:
Atiku can never and will never be my option...

[/s]

SHUT UP WHO ASKED YOU?

MetaPhysical:
PDP went from $35billion in 2010 to $67.7billion in 2014. This is almost 100% debt increment in one term. Where did 32.7billion dollars go?
They shared it!

PDP is never an option again. They set and break their own record.

ican2020:
the VP is a certified lier.
the only thing APC does well is to borrow and borrow, so, Monkey VP should shut up

According to this write up I doubt you read, the VP is correct! Hi and read only the last paragraph to confirm

You exalt the APC led administration for completion of projects that were initiated and funded completely by the PDP led administration. Point out one projected initiated by APC don't be brainwashed by the APC they got no blueprint to development. Traders money not even a sustainable development plan.

Hopebringer:
[s][/s]

SHUT UP WHO ASKED YOU?

His option. He shouldn't have an option again? Lol

mfm04622:
His option. He shouldn't have an option again? Lol

He can.but no one.asked him

Validated:
Osinbajo should stop confusing issues. The FG external debts should be separated from State Debts. A state like Lagos that have mounted billion of debts in Dollars was not under PDP.

The graph below shows who mounted what debts. It took PDP 16 years to wipe out Nigeria debts and only raised $10b. However, in just 3 years, APC doubled what took PDP 16 years

According to the DMO, as at June 2015, the external debt of the Federal Government of Nigeria (FGN) and the 36 states was $10.316 billion; domestic debt (FGN only) was $42.633 billion while domestic debt of states was $10.856 billion. These give a total public debt of $63.806 billion as at June 2015.

Also, according to the same document from Debt Management Office, the total public debt as at June 2018 stood at $73.207 billion with breakdown as follows: federal government and the 36 states owed $22.083 billion, domestic debt (FGN Only) was $39.749 billion and total domestic debt of states and the FCT stood at $11.374 billion.

Not a bad performance by the APC, especially when you don't have Crude Oil selling at over $100/barrel, and no luxury of inheriting a sizeable savings like Jonathan did in 2010 and exhausted like a glutton.

MetaPhysical:
PDP went from $35billion in 2010 to $67.7billion in 2014. This is almost 100% debt increment in one term. Where did 32.7billion dollars go?
They shared it!

The beauty of it is that 90% of the APC chieftains that are now saints looted the money also. How about that?

1. Amaechi
2. Governors of Kano, Kaduna, Adamawa, plateau, Niger, Bauchi, Jigawa, Zamfara, Katsina, kebbi,
3. Akpabio, Ndume, Omo- Agege, Udo Udoma, Boss Mustspha, Abdullahi Adamu etc

Were parts of the loot. Just that they are now saints.

Does this APC paid agents know better than Lai Muhammed ?

The vice president claims might be true with the figures out from the DMO, not a all political person though looking critically at the happenings and all, there isn't soo much difference in those who occupied PDP within the last 16 years and those who occupy the present APC, majority of them cross carpeted, majority of them were instrumental to the poor management of the country, Johnathan might have overlooked alot and allows syphoning of public funds during his tenure, we cannot remove the same fact now as the same is also going on, Nigeria needs a total rebirth from the usual. Thats all

Munzy14:
While 2yrs out of 3 and half yr of current APC was spent on blaming jonathan and blaming perceived political enemies. lol wake up next yr. We are tired of buhari. Same grace is now hitting him front and back.
I watched lai mohammed last nyt on channels he couldn't say one tamgible thing why we have to vote for buhari next yr. lol laughable. We cant afford third recession. no more. God has spoken.

You mean Atiku's marabout has spoken.....

MetaPhysical:
PDP went from $35billion in 2010 to $67.7billion in 2014. This is almost 100% debt increment in one term. Where did 32.7billion dollars go?
They shared it!

Ask again.
To even imagine that we also made so much money from crude oil sales during this period is also the most painful part of it.

nimnas:
You exalt the APC led administration for completion of projects that were initiated and [s]funded completely by the PDP led administration. Po[/s]int out one projected initiated by APC don't be brainwashed by the APC they got no blueprint to development. Traders money not even a sustainable development plan.

If PDP provided the quarter of the fund, they would have commissioned it. That is the PDP I know.

Nemesis001:
But he never saw a prophesy that Buhari will send Nigeria into it 2nd recession?


The same Bakare never saw a vision about how he will win the presidential elections


Bakare will only sing when you call him to come and eat.

U so hypocritical, its alarming. Anyone who heared Okonjo Iweala's warning about our needing to save for the rainy day as well as is smart enough to compare revs in relation to foreign rserve and debt incurred nd during the PDP viz-a-viz APC years would not recommend PDP's reemergence. Pple advocating PDP are simply not looking beyond what happens if PDP returns. Its a pity!

[Thanks so nuch for taking pain for this confirmation. Many are so lazy to do this.quote author=deji17 post=72495030]
FACT-CHECK: How accurate is Osinbajo’s claim on Nigeria’s debt profile

The Vice President, Yemi Osinbajo, on Saturday, October 27, said Nigeria’s debt was $73 billion, a $10 billion increase from $63 billion the present administration inherited in 2015.

He made the disclosure in Ibadan on Saturday during the 9th Public Lecture of Sigma Club at the International Conference Centre, University of Ibadan.

THE CLAIM
“In 2010 our debt was $35 billion, $41 billion in 2011, $48 billion in 2012, $64 billion in 2013, $67.7 billion in 2014, $63.8 billion in 2015, $57.8 billion in 2016, $70 billion in 2017 and $73 billion in 2018.

“The nation’s debt as at today was $73 billion, an increment of $10 billion from the $63 billion inherited in 2015,”

VERIFICATION OF CLAIM
To verify the claim, PREMIUM TIMES and Dubawa, used data from the Debt Management Office (DMO), the agency officially responsible for managing Nigeria’s debt.

According to the DMO, as at June 2015, the external debt of the Federal Government of Nigeria (FGN) and the 36 states was $10.316 billion; domestic debt (FGN only) was $42.633 billion while domestic debt of states was $10.856 billion. These give a total public debt of $63.806 billion as at June 2015.

Also, according to the same document from Debt Management Office, the total public debt as at June 2018 stood at $73.207 billion with breakdown as follows: federal government and the 36 states owed $22.083 billion, domestic debt (FGN Only) was $39.749 billion and total domestic debt of states and the FCT stood at $11.374 billion.

Further analysis of Nigeria’s debt also revealed that in 2012, Nigeria’s debt was $48.496 billion; in 2013, it was $64.509 billion; in 2014, it was $67.726 billion; in 2016, it stood at $57.391 billion; and as at December 31, 2017, the total debt was $70.999 Billion

These official figures tally with those quoted by the vice president who said “In 2010 our debt was $35 billion, $41 billion in 2011, $48 billion in 2012, $64 billion in 2013, $67.7 billion in 2014, $63.8 billion in 2015, $57.8 billion in 2016, $70 billion in 2017 and $73 billion in 2018.”

There was no available record on the website of the Debt Management Office for 2010 and 2011; so it is difficult to verify Mr Osinbajo’s debt figures for those two years.



However, going by available data on public debt from 2012 till date, the total debt of the country in 2015 was $63.806 billion while the current debt figure as at June 2018 stood at $73.207 billion. Both are same as the figures quoted by the vice president on Saturday.

Therefore, the claim by the vice president that the Buhari administration has increased the nation’s debt by $10 billion from $63 billion it inherited in 2015 is TRUE.

https://www.premiumtimesng.com/news/headlines/293012-fact-check-how-accurate-is-osinbajos-claim-on-nigerias-debt-profile.html[/quote]

life2017:
Why Nigerians will be making a big mistake by making 2019 voting decision base on current Hardship under PMB

Jonathan PDP Govt 2010 to 2014

Oil Revenue $381 billion dollars.

Debt increased by $29 billion (From $35bn to $64bn)

Reserves dropped by $6bn ($36bn to $30bn in May 2015)

There was increase in enjoyment due to promotion of consumption and free money.

Buhari APC govt 2015 to 2018.

Oil revenue $112billlion dollars.

Debt Increased by $10billion dollars ($63bn to $73bn)

Federal Reserves increased by $12billion dollars ($30bn in 2015 to about $42bn in 2018)

There is relative increase in hardship due to less free money, relatively less focus on consumption despite low revenue and some focus on capital expenditure.

As a neutral Observer
which of the two above is better in terms of fiscal reaponsibility?.

Main Source of data:

https://www.premiumtimesng.com/news/top-news/292875-nigerias-debt-only-increased-10-billion-since-buhari-assumed-office-osinbajo.html

https://tradingeconomics.com/nigeria/foreign-exchange-reserves


The cry of hardship has not been looked into Objectively.

A drop of oil Revenue from $381bn to $112bn cannot be replaced with magic.

Actually PMB govt has done well with the level of hardship we have today. With the drop in oil revenue shown above, I expected the hardship to be much more than it is today.

One of the reason the hardship is not much relative to drop in revenue is because alot of the money from oil boom during Jonathan era were spent abroad buying houses in dubai, US, Canada etc. Hence the hardship is less compared to the drop in oil revenue because a good portion of the money was not in Nigeria economy.

A drop from $381bn to $112bn is a drop of around $269bn . With our current Fed Govt budget of around $30bn( 9trillion Naira), that drop is equivalent to about 9 years of federal govt Budget.

For those who like comparing with Obj govt.

The govt of IBB, Abacha and Abdusalam from 1990 to 1998 only earn $120bn dollar from oil

Obj/Yar adua from 1999 to 2009 earned $481bn due to higher oil production and increasing price. Nigeria just started deep water oil production during Obj. Hence increased volume of oil export. Currently many of those oil fields( Akpo, Usan, Agbami, Bonga) are producing 50% of thier initial capacity. During Obj most foreign sanction impose in Nigeria by US, UN and EU because of Abacha millitary govt were removed. Higher oil revenue and Sanction relief created the economic improvement under Obj.

And again Nigeria population has almost doubled. From 120million in 1999 to about 200million today with declining resources (oil).

Ngozi Nkonjo Iweala understood how Nigeria economy solely depend on oil price. That was why during Q3 2014 when oil price drop from 100 dollar to 70 dollars, she was already warning us to prepare for recession in 2015. She was already borrowing to pay salary in Q4 2014. During Buhari govt, oil price dropped as much as 28dollars per barrel at its worst though averaged 40 dollars with reduced oil production.

We need aggressive diversification of the economy.

Respect!