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Buhari Inherited $63bn Debt, BMO Tells Atiku - Politics (3) - Nairaland

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Femi Adesina To Soyinka: Buhari Inherited Terribly Divided Country From Jonathan / Buhari Inherited $63b Debt, Borrowed $10b - Osinbajo / 2019: We Want More Than SGF, South-west PDP Tells Atiku (2) (3) (4)

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Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by obailala(m): 7:07pm On Dec 03, 2019
NGpatriot:
[s][/s]



BMO is the official Budget Management institution in Nigeria with credible and valid data regarding Nigeria's debt profile, not a faceless blog site.
Lol... BMO is actually Buhati Media Organisation... grin

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Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by Awoo88: 7:08pm On Dec 03, 2019
obailala:
I actually found out just recently that the $63bn figure is absolutely true. Naira and dollars arent the same thing, people should learn to stop comparing apples and groundnut.
There us nothing true about that!! Hope you are not of those hirelings advancing all kind of moronic argument and narrative in favour of this government.
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by DeOTR: 7:08pm On Dec 03, 2019
itsme01:


$63bn to ratio $10bn isnt surpassing..

atleast $10bn is giving us standard airports, standard rail linking three states, inter region second niger bridge, what did PDP give us with $63
So PDP Federal government of Jonathan's era alone borrowed $63 billion?
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by grandstar(m): 7:10pm On Dec 03, 2019
Awoo88:
Their lie of 63b had been debunked several times. Yet Buharideen and APC will keep pushing thus lie by the lying pastor for zombified persons to argue with

The $63b looks very credible. The debt to GDP ratio was 12% of GDP when in 2015 when Jonathan stepped down.

Nigeria's GDP was rebased to $500billion. 12% of that comes to $60b. The figure, therefore, is quite realistic

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Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by itsme01: 7:12pm On Dec 03, 2019
DeOTR:

So PDP Federal government of Jonathan's era alone borrowed $63 billion?

Only Jonathans FG because Obasanjo left a clean sheet, and highest Foreign reserve

PDP and Obasanjos National Debt(state and FG , internal and external debt) is in trillions also and Jonathan's was around 20 something trillion

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Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by reallouis: 7:13pm On Dec 03, 2019
Atiku Abubaka would have been charge for hate speech. End time Government.
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by Awoo88: 7:14pm On Dec 03, 2019
grandstar:


The $63b looks very credible. The debt to GDP ratio was 12% of GDP when in 2015 when Jonathan stepped down.

Nigeria's GDP was rebased to $500billion. 12% of that comes to $60b. The figure, therefore, is quite realistic
What type of stupid conjunction is this ?? Are you one of those guys given peanut to throw up all kind of nonsense that defile logic to support buhari??

1 Like

Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by NGpatriot: 7:18pm On Dec 03, 2019
[s]
obailala:
Lol... BMO is actually Buhati Media Organisation... grin
[/s]



DMO.

1 Like

Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by DeOTR: 7:21pm On Dec 03, 2019
itsme01:


Only Jonathans FG because Obasanjo left a clean sheet, and highest Foreign reserve

PDP and Obasanjos National Debt(state and FG , internal and external debt) is in trillions also and Jonathan's was around 20 something trillion
The 20+ trillion. State and FG right?
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by SOFTENGR: 7:22pm On Dec 03, 2019
sotall:
And he has been borrowing ever since

From 11Trn to 22Trn, is that not an 100% increase?



And nothing has changed ever since.

Nigeria still lacks power

Nigeria still doesn't have portable water

Nigeria still lacks adequate health facility

The number of poor people has increased astronomically

The number of jobless people have increased



Where did all the money he has been borrowing go to?
Did you say nothing has changed?
I have bolded what has changed. grin
Bubu and Apshit are a big fraud

1 Like

Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by itsme01: 7:22pm On Dec 03, 2019
DeOTR:

The 20+ trillion. State and FG right?
yep
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by obailala(m): 7:27pm On Dec 03, 2019
Awoo88:

There us nothing true about that!! Hope you are not of those hirelings advancing all kind of moronic argument and narrative in favour of this government.
The only thing I'm advancing is the truth. The truth which so many people cant see, or intentionally refuse to see or believe when it doesnt favour their narrative. The human nature is indeed funny.

Nigeria’s total debt as at June 2010 stood at $35bn (~N5.25 trillion at an exchange rate of N150/$),
Nigeria’s total debt as at June 2015 just after handover stood at ~$61bn (~N12.12 Trillion at an exchange rate of N199/$)
Nigeria’s total debt as at June 2019 stand at ~$84.3bn (~N25.7 trillion at an exchange rate of N305/$).


Now this simple information above can be weaponized by politicians and swung in virtually any direction:

PDP Argument: "Our total debt was N12.1 trillion in 2015 but PMB has more than doubled it to N25.7 trillion in 4 years."

APC Argument: "Our total debt was ~$61bn in 2015 and it's only ~$84.3bn now; we added only $23bn even at a time of low oil income, however our loudest critics (PDP) added $28bn to our debts between 2010 and 2015 and also depleted reserves despite high oil price."

...and the arguments continue, and the people fail to ask questions but just swallow words of their favourite politicians.

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Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by obailala(m): 7:31pm On Dec 03, 2019
NGpatriot:
[s][/s]



DMO.
Yeah but you earlier mentioned BMO and the thread talks about BMO.
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by ivandragon: 7:33pm On Dec 03, 2019
BMO are simply being mischievous...

While it is true that the debt as at May, 2015 was $63b, BMO was silent on the exchange rate at the time.

Using an exchange rate of N360 to $1, $63b comes to about N22tr.

However, using the max rate as at 2015, it comes to about N12tr.

What BMO fails to state is that it was this administration that made the exchange rate to be where it is & not the previous administration.


Also, to those saying GEJ enjoyed high crude oil prices. You all need to follow the news as at 2011-2014... Nigeria practically lost 50% of its customers due to the issue of shale oil... So Nigeria wasn't exactly swimming in dollars when crude oil prices where high...

https://www.google.com/url?q=https://www.ft.com/content/b1c2be68-4c54-30c0-a4f5-21b7ef93a848&sa=U&ved=2ahUKEwjontrukZrmAhVCu1kKHaXvBrIQFjACegQICRAB&usg=AOvVaw1fBAEUE9RaJ0DEGf68FKSa

Also, the GEJ administration had to keep fuel prices below N100 & exchange rates under N200 all while crude oil prices where facing north of $90pb.

PMB should trying keeping fuel prices under N100 & exchange under N250 & let's see what will happen...

2 Likes

Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by cusBeta: 7:35pm On Dec 03, 2019
izzou:
grin

Let them divide the money by 200 million people, so we can know how much each one of us should pay

Instead of collecting loans to create jobs, we collect loans to pay salaries

A very daft government leading us since 1960
You spoke wisdom. Oil dey your head. Thumbs up.
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by DeOTR: 7:37pm On Dec 03, 2019
itsme01:
yep
So out that, $63 bn was taken by the Jonathan-led FG?

1 Like

Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by itsme01: 7:39pm On Dec 03, 2019
DeOTR:

So out that, $63 bn was taken by the Jonathan-led FG?

$63bn jonathan $10bn buhari 73 as at 2018, no loan had being requested yet

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Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by obailala(m): 7:39pm On Dec 03, 2019
DeOTR:

So out that, $63 bn was taken by the Jonathan-led FG?
The debt was ~$35bn in 2010 when GEJ got to power, so he added only $28bn to it.
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by Nobody: 7:40pm On Dec 03, 2019
Tetehjewels:


Wailers can be so idiotic. E.G this one who typed this nonsense.

When did BMO (Buhari media Organisation) Become DMO (Debt management Office)?

Your wailing has shut down your brain and rendered you blind.

Its DMO.

Buhari has dullarded Nigeria

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Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by Area4Area: 7:40pm On Dec 03, 2019
Sirjamo:
Convert your data from naira to dollar, don't forget to include the exchange rate for each year!!!
I was about saying this but I felt a reasonable person on the thread would mention it and you did

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Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by Nobody: 7:44pm On Dec 03, 2019
PrecisionFx:


Its DMO.

Buhari has dullarded Nigeria

Go and format your brain and download a new OS this one is corrupted

1 Like

Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by Area4Area: 7:44pm On Dec 03, 2019
Tetehjewels:


How silly can you be? The figures quoted in the article are in USD while you are mischievously quoting figures in Naira to make people feel that because they see trillion means it is bigger than the USD quoted in the article.

How daft can you wailers be?


Where did all those PDP borrowed go to?
They love quoting in naira because since the naira fell in value against the dollar, the debt would be more in naira now

1 Like

Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by samento: 7:47pm On Dec 03, 2019
Racoon:
[color=#990000][/color]
https://www.google.com/amp/s/www.icirnigeria.org/nigerias-external-debt-rises-by-163-per-cent-between-2015-and-2019/amp/

And any reasonable Nigerian needs a sooth- sayer to know that this government is a curse?
Because they told the truth supported with facts.

1 Like

Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by Nobody: 7:48pm On Dec 03, 2019
Tetehjewels:


Go and format your brain and download a new OS this one is corrupted

No sir. I wont download the BMC app, it's an app for mad zombies cheesy
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by Nobody: 7:48pm On Dec 03, 2019
Area4Area:
They love quoting in naira because since the naira fell in value against the dollar, the debt would be more in naira now

They are indeed extremely stupid. Money that was borrowed in dollars will it be repaid in Naira? Why the useless conversion when the answer is obviously no.

Their foolishness will consume them as they keep wailing

2 Likes

Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by Nobody: 7:49pm On Dec 03, 2019
PrecisionFx:


No sir. I wont download the BMC app, it's an app for mad zombies cheesy

So says the grand patron of Mad wailers

1 Like

Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by ledamaster(m): 7:58pm On Dec 03, 2019
$30billion ÷200million=$150,000. ×360=#54,000,000:00
Buhari i dont need your audio projects, give me my own share of the $30billion which is #54,000,000.
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by Kawabonga(m): 7:59pm On Dec 03, 2019
itsme01:
shocked



Shame on Jonathan, Obasanjo cancelled all of our National Debt (FG) , Yaradua didnt borrow, but Jonathan earned high dollars from crude Oil and left FG debt at $63bn without anything visible like standard guage rail(lagos- ogun- ibadan) or Second Niger Bridge, and New AirPort Terminal

As u no wan get sense ehn... U go continue to lament until u enter ground cool


And to the PDP Dunce qouting Nigeria's total debt (internal and external) (36 States + FG) N28trn, you should understand FG only owes $68bn out of that while useless state owes the rest, and it would shock you to know that the state actually owes the FG especially PDP state like Abia who borrowed bail out fund and squandered it while living debt for abians



....
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by grandstar(m): 8:00pm On Dec 03, 2019
Awoo88:

What type of stupid conjunction is this ?? Are you one of those guys given peanut to throw up all kind of nonsense that defile logic to support buhari??

Brush up your economics.

When Jonathan left office, public debt was equal to 12% of GDP. GDP then was around $500bn.

Multiply 12% by 500bn and you have $60bn

As of now, debt burden has shot up to 22% of GDP under Buhari.

This is not a PDP or APC. This is simple economics.

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