blackpanda:
Empty heads here will come and complain because they have no clue what the topic is about. Smh

I blame our educational system. Na so so copy and paste.

You that went to Harvard with your first class Knowledge, a nation that spends over #3trn on debt servicing and yet intending to borrow more, what lesson does it teach you? Don't you see the future of your unborn kids being mortgaged?

adenigga:
[b][/b]
https://m.punchng.com/Business/FG-spent-N6.46tn-on-debt-servicing-personnel-in-2020-Minister

Hey guys, goto fornow.me and try naijas own Twitter, you can upload your song for free on Fornow.me no charges at all. You can also earn money by referring people goto Fornow.me to see for yourself.

ripew:
omo

Nigeria is gone half of its budget go into servicing of loan not even paying it back

APC Change

Sai baba

iokpebholo:
PDp had debt but APC took it to a very unmanageable level

Largely because the oil prices went down to unmanageable levels.

Note this is not a defence of the government

At the end of the day they had other tools to keep borrowing low, but because these tools involve politically unpopular moves...

APC on it again

all i know is , a time is coming when we shall drag all these people and their grand children. , it won't be end sarz , but it will be end something at that time

Wahala dey oooo

Slackerpenguin2:


Well, the Civil Service is bloated.

But cutting down on personnel overhead means sacking lots of civil servants and clamping down on corruption...not politically popular.
Cutting debt means cutting things like subsides in power, education, health, and oil, and paying higher taxes...again not politically popular.

A huge chunk go into unnecessary personnel cost. Nigeria is a wasteful country.

How can an entry level graduate earn 30k a month while equivalent graduate earns 900k monthly inclusive of allowances at DPR, NNPC, PPRA and so forth.
The disparity is extremely wide. Cutting this “unseen” humongous allowances will reduce personnel cost significantly.

Nigeria is a hopeless country. I feel for the unemployed.

1.8 for capital expenditure. 3.19 for salaries. That is the summary of Nigeria. Her citizens slaving for her supervisors. And they will steal a chunk of the capital votes.

Slackerpenguin2:


Largely because the oil prices went down to unmanageable levels.

Note this is not a defence of the government

At the end of the day they had other tools to keep borrowing low, but because these tools involve politically unpopular moves...

So in other words, political interest superceeds national and economic interest according to the APC led administration.

Nigeria is finished.

Hopeless situation.

One nigeria turned to be a mistake.

Reference:
1.8 for capital expenditure. 3.19 for salaries. That is the summary of Nigeria. Her citizens slaving for her supervisors. And they will steal a chunk of the capital votes.

Most of the monies for capital expenditure are used inefficiently and/or misappropriated.

30% from oil and 70% from non oil revenue!!!
Political wife of Lie Muhammed.

Peters95:
How is that our business??

Egungun be careful

it’s your business because you’re going to pay for it.

Sunnycliff:


You that went to Harvard with your first class Knowledge, a nation that spends over #3trn on debt servicing and yet intending to borrow more, what lesson does it teach you? Don't you see the future of your unborn kids being mortgaged?

That is pittance for a country this large and interested in infrastructure development. Do u know how much newyork spends on housing alone
Many of u just complain that nigeria lacks infrastructure and also complain that nigeria is building infrastructure. There's no pleasing u? Whom do u think will foot the bill of development? Santa claus

Luckydubby7:
We are in trouble ooo
The amount is just fucking too much nah.
How did pdp managed Nigeria economy that we didn't experienced all these happening now.

don’t disturb yourself, my brother. Here in Lagos, majority of the indigenes were shouting that Jonathan was a bigger evil , ineffectual and should be kicked out. Little did they know that a certain son of their was using their brains to achieve his personal selfish goals , which is even hanging in the balance now. We have EFFECTUAL president now , why the wailing? Hunger and insecurity know no tribe .Hate kills! When I said that Nigerians deserve what they are getting today, they thought I was being pessimistic and sadistic . Everything is tribalised , regionized, permit me to say, RELIGIONIZED and politicized. My people said that palm nuts demanded by a child should not ache his tummy. Why is it that Nigerians don’t read or asked about the past or pedigree of those they vote in before thinking of doing so? Even here in NL , no -arms bearing Ipob that they have not seen or that is of no hurt to them is a bigger issue to them than bandits and herdsmen who are now rounding up their villages, up running amok on their hills ,highways and forests. Once again, hate and tribalism kill. We should enjoy what they brought,please

blackpanda:


That is pittance for a country this large and interested in infrastructure development. Do u know how much newyork spends on housing alone
Many of u just complain that nigeria lacks infrastructure and also complain that nigeria is building infrastructure. There's no pleasing u? Whom do u think will foot the bill of development? Santa claus

Forget the amount always quoted for infrastructure in Nigeria; most of it are looted directly or indirectly.
In New York, it's significantly different.

Imagine spending 3.2tn on debt servicing and 1. 8 tn on Capital projects den how can we progress on a fast pace as a nation.

bibiking7:




I am not an economist or accountant. However, I saw recurrent (non debt) expenditures taking 5 trn which is 44 percent. Does not sound too good.

Also, debts servicing of this amount leaves little or no funds for capital projects and infrastructure. Then 3 trn for personnel cost. Which personnel?

Then again, the budget deficit will be financed by further borrowing.

Just tell us that we have double digit inflation, which one is "inflation is expected to remain above single digits". Sounds like scoping to me.

Finally, first to comment is not beans. (I just had to add that)

Grandmeister:

So in other words, political interest superceeds national and economic interest according to the APC led administration.

Harsh truth, and changing to PDP wont make matters better.

The real issue is Nigerians, politicians and people , want a Ferrari at the price of a schwimm.

What happened to 2020 budget? We were all at home for the better part of the year. Especially budget for education ,

jayworld15:
Out of 10 trillion naira spent
3tr was used for Debt Servicing
3tr was used for Personal and Pension cost
Over 110bn was used for Covid 19
1.8tr for capital project

Over 5tr deficits enter 2021

We still dey borrow money from China, Brazil, Dormant Accounts; taxation upon taxation; hikes in goods and services; ridiculous begging of forfeiture of past loans etc

My people, Wahala dey so oooooo

Very serious wahala oo

Kaii...this break down is too sick for developing country like Nigeria ...this is outrageous and this reckless borrowing should stop immediately...

How and when will you pay the real debt back if you are using close to 4tn naira to service a loan annually? Are we just naturally coursed and crazy ?
What happen to recent upsurge In tax, electricity, food, and fuel subsidy removal?

The truth is that this government is trying in the aspect of infrastructural development but we can cut our coat according to our size by managing all those resources for capital projects and beneficial programs without excessive borrowing.

Am sure that we can achieve that only if there is a improved security and corruption.

90% of politicians that are into government are there to loot their own share of national resources into their family vault.

sapientia:


Very serious wahala oo

The next generation will have a lot of curses for this present generation. Mind you, it’s certain coronavirus can never go away in Nigeria even if other countries declare their sovereign states free from coronavirus. This is a real business down here.

Is alright

Slackerpenguin2:


Harsh truth, and changing to PDP wont make matters better.

The real issue is Nigerians, politicians and people , want a Ferrari at the price of a schwimm.

Who is pdp and who is APC? I detest Nigeria’s type of party politics because it makes no sense neither does it have any distinct ideology whatsoever. A lot of politicians in pdp for years moved to APC many from APC also moved to pdp. So they’re one and the same. The thing is, this buhari led administration has brought the bar so low that other coming government won’t be challenged to do any better.

blackpanda:
Empty heads here will come and complain because they have no clue what the topic is about. Smh

I blame our educational system. Na so so copy and paste.

Who are the empty heads? You are among