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Nairaland Forum / Nairaland / General / Politics / Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 (8588 Views)
Zainab Ahmed: FG To Spend N6.72trn On Subsidy In 2023 / Zainab Ahmed: FG Exceeding Borrowing Threshold For 2021 / Abba Kyari: How FG Spent Millions Of Naira In Trying To Save Buhari's COS - SR (2) (3) (4)
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Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by blackpanda: 8:02am On Jan 13, 2021 |
Sultannayef: That used to be the case, but I have seen a change in this administration. And btw the loot in US too |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Ogilinsaka: 8:02am On Jan 13, 2021 |
dotbaba86: This is new year. Go and work hard. Education isn't for everybody 1 Like |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by PHijo(m): 8:03am On Jan 13, 2021 |
dyera: The likes of Buhari lack the intellect to take Nigeria forward. Sadly Nigerians too are not educated enough to know what is right for the country. The Ojota protests of 2012 have still been hanging in the balance till this date. If I was in GEJ's shoe I would have forced subsidy removal by any means necessary but being the gentleman that he is, he caved in to the demands of Nigeria's communist sympathizers. 2 Likes |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Ogilinsaka: 8:03am On Jan 13, 2021 |
blackpanda: My friend stay in New York and stop calling Nigerians empty heads. 1 Like |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Nobody: 8:06am On Jan 13, 2021 |
Grandmeister: Well, the amount of borrowing under Buhari has increased because the price of oil went too low under his regime so many times. Having said that, Buhari could have 1.Cut subsides in power and petroleum. But because this means prices as high as 80 naira per kwh and 300 naira for one liter of fuel.. 2. Fight corruption and insecurity...but this means losing allies and power 3.Improve industrial production But the sad thing is that such decisiobs while good for Nigrria , are politically expensive and unpopular really. |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Sunnycliff(m): 8:15am On Jan 13, 2021 |
blackpanda: You want to compare Nigeria with New York? In what terms please? Mention any human development index you Wan to use in comparison, let us analyze pls |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by PHijo(m): 8:17am On Jan 13, 2021 |
blackpanda: You are ignorant, plain stupid or you just write to please your paymasters in Aso Rock! 1. Nigeria's GDP to tax ratio is low 2. The cost of lending in Nigeria is high 3. In the last 6 years no deliberate effort has been made to reduce imports and reduce the pressure on the US/ Naira exchange. 4. Much money is being spent subsidising the Naira and petroleum products per annum. 5. No efforts have been made to reduce government spending by trimming down duplication in her agencies. Rather new agencies are being created. 6. Nothing is being done to increase economic liberalisation of sectors the private sector can deploy capital much better. 7. No clear strategy on how to enhance growth in key sectors Nigeria has advantage. 8. Infrastructure could also be financed via other mediums apart from debt. Not much is being done to increase the non-debt financing component. I can go on and on! Even if Buhari wouldn't use an Innoson , Nord or Proforce car what stops them from buying them for his convoy, for legislators etc? Why is Nigeria still importing tar when she could develop bitumen in Ondo state? Why do they allow critical roads leading to ports rot? Why aren't such roads given priority? 3 Likes |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Olaideolayemi(m): 8:17am On Jan 13, 2021 |
nony43:sorry for quoting you,You aren't talking like economist,nor Management expert, There is nothing bad about borrowing,the problem is poor utilization of debt to achieved stated objective,some debt management increase inflow/outflow of cash and investment in the country.. 1 Like |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Sultannayef: 8:46am On Jan 13, 2021 |
blackpanda: The loot in USA case is very minimal and insignificant in terms of public investment. In Nigeria, it's way beyond imagination and significantly significant. |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Olaideolayemi(m): 9:07am On Jan 13, 2021 |
Initially,I am growing student in the area of economic/management.. postgraduate level..Am not into any political parties, either Apc/PDP..I just want to say my opinion on the article..The government is trying is best,but many underperformance minister, and some political games are major factor affecting this government..From the write up..I observed,money were spent on political games,and non-effective control from the president..Also the government spending is expanding due to govt activities and disturbance in the country,but no enough revenue to balance the needs and wants for a stable economy..and also the minister was control my powerful bloc rather than economy indices and parameter..Also there were more hardful policy on economy especially on non-oil revenue,this policy is making it hard for many citizen to survive due to generate more revenue by the govt.Borrowing is not the problem, utilization and payback should be major issues..All countries all over the world borrowed money from different sources,but the utilization and plan payback is important, due to political games and incompetent of some minister and agencies in mismanagement and corruption blood is also factor affecting the economy..For government to perform better in this yr budget,Govt need to reduced country disturbances, especially security, because without security non-oil sector will not perform better, reduced hard policy on citizen for many individuals to have values for the money they have,Focus on development rather political game, Proper monitoring,and implementation of budget for better result, Management of excess crude oil account and other sources of income/revenue,More creativities and innovative ways of making more revenue/income to improve buget performance, More investment on agriculture to boost food production, More investment on youth, especially graduate and non graduate category and finally improve in productive sectors..and many more..God help us.. |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by lexy2014: 9:14am On Jan 13, 2021 |
Slackerpenguin2: Text book economics. Is it because of raw materials we are selling that increased nigerias debt burden since buhari became president? |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by lexy2014: 9:16am On Jan 13, 2021 |
Olaideolayemi: D way u contradict urself here, no get part 2 |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Nobody: 9:26am On Jan 13, 2021 |
lexy2014: Its because the price of what we are selling is too low for us to earn sufficient revenue to sustain our large population. That does not excuse Bubu . He could have cut subsides completely and raised our tax to gdp ratio and given industries forex at favourable rates. |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by lexy2014: 9:34am On Jan 13, 2021 |
Slackerpenguin2: Bro, it doesn't necessarily have to do with price of our exports. It is important though as it can guarantee better revenue inflow. D problem with nigeria as a whole isn't much a problem of revenue/price of exports than d management of revenue. D reason why this debt issue is a problem is because we can't see how d debt accrued has improved people's standard of living. D challenge in governance today is waste, misplaced priorities & corruption. Those at d top, steal anything they can lay their hands on leaving little or nothing to work with. thereby putting more pressure on d revenue. Let d price of exports increase, it will only mean more money to steal. This is d true situation of things. That's why I said u were talking text book economics |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by oloshun(m): 9:40am On Jan 13, 2021 |
bibiking7: There we go again; only in Nigeria you an account be using euphemism to express numbers. Who no know say whatever that is higher than single is double? She know what she is saying, she knows it will take some people forever to understand her logic. And by then, they are already applying for another loan or on increased deficit. |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Ihatemumu: 10:02am On Jan 13, 2021 |
Sunnycliff: You even get time to reply the fool, The North sees criticism as an attack to their Religion or People, they mindset is still in 1780 while other Islamic countries like Dubai are progressing |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by snowball11(m): 10:14am On Jan 13, 2021 |
Lifeless FC is truly taking this nation to the finals of the POOREST COUTRIES OF THE WORLD FOOTBALLL TOURNAMENT |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by blackpanda: 11:12am On Jan 13, 2021 |
Sultannayef: Story. Looting is looting. Stealing is stealing. Don't point fingers when u are also guilty |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by blackpanda: 11:14am On Jan 13, 2021 |
Sunnycliff: Have u been to newyork before?? Abi u are just reciting the hogwash american media has fed u over the years |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Sunnycliff(m): 11:19am On Jan 13, 2021 |
Ihatemumu: Dont mind him. They wouldn't want to measure up with, Saudi, Qatar, UAE etc, which are also Muslim nations but a tree that developed. They prefer dragging the entire nation backwards with endless borrowing 1 Like |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Elsueno: 11:28am On Jan 13, 2021 |
Slackerpenguin2: Do you think people will mind high taxes if the government actually put the money to good use? Won't u pay high for electricity if you get like 20-24hours a day. Before you fire civil servants, first cut bogus allowances for all politicians, top civil servants & eliminate corruption in d system. I assure you personal costs might even be reduced by 1trillion or more. And those glorified workers at A list agencies like DPR, NCC, FIRS, NNPC etc who do almost nothing all day, but earn millions of naira in upfronts annually and allowances should also be slashed |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by tamunobello: 11:40am On Jan 13, 2021 |
Can we just stop borrowing money adenigga: 1 Like |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Nobody: 11:52am On Jan 13, 2021 |
Elsueno: Well all good suiggestions But the problem we have too is that we are expecting a ferrari from the cost of a bicycle. |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by peculiar2233: 11:59am On Jan 13, 2021 |
adenigga:It shall not be well with Buhari and his cohorts 1 Like |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Nobody: 12:00pm On Jan 13, 2021 |
lexy2014: Our revenue for this year is less than the UAE earns...for ten times the populaiton.That's why the UAE can have all the nice buildings, while we get bad buildings. So even if we bring back your belvoed PDP back or keep the griller's beloved APC in office, and implement your suggestions, we won't get much improvement. Either we make hard chocies...like ending subsides in petrol and power, meaning increased investment, as well as taxing everyone...in addtion to your suggestions....or we just keep on taking loans. Nigeria is a poor nation. This fact does not make our leaders past and present better. They know what to do to make us rich...but they are too scared to take the plunge. And it is a pity...especially for this current admin |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by emmyrate1(m): 1:37pm On Jan 13, 2021 |
blackpanda:and what project are dey completing now that warrant them to cripple the country with overload debt |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by lexy2014: 1:39pm On Jan 13, 2021 |
Slackerpenguin2: I don't remember discussing with u that I have a "beloved PDP". When u say d reason d UAE has beautiful buildings & nigeria has bad buildings because of their revenue compared to their population, have u asked urself how much corruption they practice in UAE compared to Nigeria? How committed is d UAE when they want to build compared to Nigeria? In terms of attracting& employing competence, is Nigeria on d same level with d UAE? Do we practice meritocracy or mediocrity as compared with d UAE? How well do we maintain d little we have built compared to d UAE? What's d level of nepotism in Nigeria compared to d UAE? What is d level of singleness of purpose in Nigeria compared to d UAE? Pls what happened to d covid19 palliatives we all saw that were hoarded by govt officials? Was it because d palliatives weren't enough to go round everyone or simply because of d greed of our leaders? What is indomie that our leaders can't share? Do d leaders in UAE have d same attitude? Will they hoard indomie? If our leaders can hoard indomie that wasnt bought with govt money, what do u think they are doing with allocations? Our leaders aren't scared to make nigeria rich. They are just too busy stealing that they no if d country can be made rich. So pls don't compare nigeria with UAE. Money isn't d issue. If it was, nigerians won't be poor in d midst of plenty. D problem is greed 1 Like |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Olaideolayemi(m): 3:42pm On Jan 13, 2021 |
lexy2014:How do I contradict myself?Is it because I said govt is trying their best and some minister and president are not in full control of govt activities? Bros,Govt is not only minister, nor president..Govt are those running the activities of govt.. Minister,director in parastals, agencies, department and others are also govt, if I said govt is trying their Best simply means ,some minister, department, ministry,and agencies are putting their best for better performance while others do not..If the govt are not trying at all.. Nigeria will not even exist..Try to think deep, when qouting...thks... |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by lexy2014: 3:49pm On Jan 13, 2021 |
Olaideolayemi: So let's do some deep thinking. Kindly tell me how govt is "trying"? What is d percentage of "trying" on one hand and the percentage of "not trying" on d other hand? If u say "some ministers and president are not in full control of govt activities", where then is d "trying"? So how do u measure "trying their best"? Deep thinker, over to u 1 Like |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by blackpanda: 4:04pm On Jan 13, 2021 |
emmyrate1: Lagos ibadan train has been completed Warri itakpe train is completed and functioning well And so much more are be constructed |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by matm: 4:47pm On Jan 13, 2021 |
God of Elijah!!!!! 1 Like |
Re: Zainab Ahmed: FG Spent ₦6.46 Trillion On Debt Servicing, Personnel In 2020 by Sultannayef: 6:57pm On Jan 13, 2021 |
blackpanda: You need to sharpen your reasoning skills. It’s very shallow. Why is Botswana so much better than Nigeria? The difference is relative looting. |
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