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Nairaland Forum / Nairaland / General / Politics / Buhari Inherited $63bn Debt, BMO Tells Atiku (20198 Views)
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Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by obailala(m): 7:07pm On Dec 03, 2019 |
NGpatriot:Lol... BMO is actually Buhati Media Organisation... 1 Like 1 Share |
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by Awoo88: 7:08pm On Dec 03, 2019 |
obailala: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: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: 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 4 Likes 1 Share |
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by itsme01: 7:12pm On Dec 03, 2019 |
DeOTR: 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 2 Likes 1 Share |
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: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 |
1 Like |
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by DeOTR: 7:21pm On Dec 03, 2019 |
itsme01:The 20+ trillion. State and FG right? |
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by SOFTENGR: 7:22pm On Dec 03, 2019 |
sotall:Did you say nothing has changed? I have bolded what has changed. 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:yep |
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by obailala(m): 7:27pm On Dec 03, 2019 |
Awoo88: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. 7 Likes 2 Shares |
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by obailala(m): 7:31pm On Dec 03, 2019 |
NGpatriot: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: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: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: $63bn jonathan $10bn buhari 73 as at 2018, no loan had being requested yet 1 Like |
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by obailala(m): 7:39pm On Dec 03, 2019 |
DeOTR: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: Its DMO. Buhari has dullarded Nigeria 1 Like |
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by Area4Area: 7:40pm On Dec 03, 2019 |
Sirjamo:I was about saying this but I felt a reasonable person on the thread would mention it and you did 1 Like |
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by Nobody: 7:44pm On Dec 03, 2019 |
PrecisionFx: 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: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: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: No sir. I wont download the BMC app, it's an app for mad zombies |
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by Nobody: 7:48pm On Dec 03, 2019 |
Area4Area: 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: 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: |
Re: Buhari Inherited $63bn Debt, BMO Tells Atiku by grandstar(m): 8:00pm On Dec 03, 2019 |
Awoo88: 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. 4 Likes 1 Share |
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