mrvitalis:

Hatred for ones country is seeing truth and not saying it because of tribal and religious sentiments

Majority of MDAs make money in foreign exchange

From immigration, to customs, to Niamasa, to npa

You get time

Techguy96:
99 percent of christians in Nigeria don't even know what the council of nicea is or care to know.
They don't know the history of the religion they practice or how the bible was canonized.

They just practice these false religion imposed on them by their colonial masters.

Do Africans really study to know like that? I think not....so sas

DatNiggaDaz:
Balablu blu bulala.

I have said it several times that the era of Bullion vans is here to stay wether you like it or not.

The warning was sounded loud & clear even to the deaf but some good for nothing creatures said no, Igbos & the people of the old Eastern region will be taught a lesson they will never forget.
The most funny thing is that the garangaja Master is not mentally fit to think like a human.

The Signature of his unstable mental health was shown by Allah for all to see & make a right decision during the election.

Let me ask: is it someone who makes statement about roasted electricity with down payment or gaz"elle garan"gaja can be able to know & lead the country

Make i Laugh jare . The good thing is that those creatures who used tribalism to usher in the unfit mental drug dealer certificate forger are gnashing & crying in severe pains.

Allah Akbar

Those low lifers must die and perish by hunger and frustrations

Of course from the skin pattern, that's a juvenile Python no doubt

MadamVanessa:




So impossible. Majority of southwestern youths are clowns 🤡 let me not even talk of the northern youths, those ones live and act under the detect of imams.

The only youths we have in this country are south east and south south youths, never forgetting my ever rugged and ruthless Edo youths, I love those guys.

Others claiming to be youths are all stooges programmed to defend undefendable actions, justify unjustifiable deeds, rationalize irrational policies of these old nonentities called leaders.

Nigeria is a joke hence I can't be tired laughing at it.

You have said it all

yoji:
This is jus absurd. Reason tells us dat the facts of a case naturally leads to its conclusion, but wat defenders of this trinity do is first arrive @ a conclusion, then look for pits and pieces to justify it. Its jus typical of rebellious mankind dat, when d bible says one thing, we turn round and say ours. When d disciples called jesus Good, jesus scolded them sayin, nobody is good but God! Yet someone wants us to blieve otherwise. The same jesus when asked for when d world would end said he didn't know but only God knew, yet someone xpects us to believe otherwise. And dat refernce to him sayin I and d father are one as him being d same entity as God is lame cos its like if ur boss sends u to represent him in a meetin and d other pple @ d meetin insist on seein ur boss, u can say u and ur boss r one in d sense that d message u r bringing is approved by d man they want 2 c as he sent u as a representative. All dat tries to do is get pple focused on d message and not d messenger. It doesn't mean he is d same entity as his sender. So if jesus was God, u mean he created a woman, then incubated himself in his own creation for 9 months?? If he was fully human on earth, wat kept d world togethr? Only someone who despises knowledge will ignore d historical fact dat trinity was a concept formulated long after d death of jesus but constantine to unite d various christian ideologies @ dat time to make his rule easier. Pls google council of nicea

God bless you my brother, flesh and blood did not reveal this to you definitely....I have never seen the most confused entities as those trinitarians in my life they irritate me anytime they argue blindly and say Jesus Christ our Lord is the same being as Yeshua, God Almighth

Puss360:
Nigerian men left the group chat....they can never stand the concept of Polyandry....
Either they call the men gays or they call the men weak men...
But funny enough, her(this ) marriage is more stable than the so-called strong marriage of polygamy...
At least this type, we have two sole provider in the family.... Wonderful...
The woman sexual life will be so so "Out of this world...
Imagine two men servicing you every week...

Be still my heart 🙈🙈🙈🙈

Your version of confusion should be studied as a course in the university....don't worry you are at liberty to embark on it too. We just wanna watch you

I swear you finish talk here, bloody scammer

Okiton:


You can use it to trade you vulture business internationally

You mean that Buharideen and Bulabarian grilled vultures for a living

igwebuike01:

Be more creative in your engagement with others. Stop boring us with lame and stale lines

You expect a buharideen and now Bulabarian to be creative with his cognitive skills? Haba now.....

richie240:
My bloda, u are flee to plotest so long as you do it in ur state/region.

Nor let devil use u to enter night bus from oppu-iweka to lagos and be forming 'fleedum faita'.

Any other thing apart from this, body go tell u o.




https://www.nairaland.com/7392382/endsars-how-chinasa-set-brt

See suffer head that learns nothing in life talking. It is coming soon....

saintopus:
They said they are saving trillions from fuel subsidy removal so where is that money?

My brother except this demonic govt is shut down Nigeria nay cease to exist, because this rogue is only here to inflict pains and anguish on the people.

helinues:
Go to court.

How much have they borrowed? How much have they serviced?

You are not worthy of being intellectually engaged with.....the same lost you supported Buhari who ended up using almost 96% of our national revenues to service debts and borrowed a whooping N51 trillion in his miserable 8 years while the same irritating you that blindly supported Tinubu had already borrowed almost N27 trillion all under his miserable 5 months, yet you are here like a miserable soul that could barely feed well still cracking empty jokes.

Tinubu Continues With Borrowing Policy Of Previous Government!

Written by Mark Itsibor, Bukola Idowu and Olushola Bello 1 month ago Reading Time: 7 mins read

In spite of declarations by the government of President Bola Tinubu that it will not continue with the massive borrowings of the previous government to fund its budget deficits, there are early indications that the new government is sticking to the controversial policy.

In the coming days, the Debt Management Office (DMO) is planning to raise up to N1.2 trillion in debt through re-issuance of federal government (FGN) bonds. It had spent N1.195 trillion on paying interests on the FGN bonds in the first six months of this year.

The DMO, in its bond issuance calendar for the last quarter of the year, said it plans to raise between N960 billion and N1.2 trillion in three months. The amount is expected to be raised between October, November and December this year.

The DMO had raised N742.557 billion for the rehabilitation and construction of 4,000 kilometres of road projects and bridges across Nigeria’s six geopolitical zones and the Federal Capital Territory through the issuance of Sovereign Sukuk.

However, officials of the Tinubu administration are yet to come with an economic road map of their own and are instead relaying a message that the current budget was presented and signed by the Muhammadu Buhari government, which had initially projected some N8.8 trillion in borrowings to fund the deficit in the 2023 Budget.

LEADERSHIP Sunday recalls that the Buhari administration had borrowed about N23 trillion from the Central Bank of Nigeria (CBN), which was later converted to long term bonds. At a time under Buhari, over 90 percent of national revenue was spent on debt servicing.

The debt service to revenue ratio is also close to 75 percent, raising serious questions about Nigeria’s fiscal stability should the present government fail to put a cap on government borrowing.

The total federally distributable revenue in the 2023 budget is estimated at N11.09 trillion, while total revenue available to fund the 2023 federal budget is estimated at N9.73 trillion. This includes the revenues of 63 government-owned enterprises.

The total fiscal operations of the federal government was expected to result in a deficit of N10.78 trillion. This represents 4.78 percent of estimated GDP, above the three percent threshold set by the Fiscal Responsibility Act 2007.

An official of the ministry of finance who spoke with LEADERSHIP Sunday under the condition of anonymity justified the new borrowings by insisting that they were continuing to implement a budget from the previous government, pointing to a speech by former President Buhari while presenting the 2023 budget in late 2022.

Buhari said, “As envisaged by the law, we need to exceed this threshold considering the need to continue to tackle the existential security challenges facing the country.

“We plan to finance the deficit mainly by new borrowings totalling N8.80 trillion, N206.18 billion from privatization proceeds and N1.77 trillion drawdowns on bilateral/multilateral loans secured for specific development projects/programmes.”

Officially, the current administration has not said anything to the contrary. Even though it promised to cut borrowings, the federal government has gone ahead with borrowing to fund the deficit through the Debt Management Office.

At the presentation of the budget breakdown earlier in the year, former minister of finance, budget and national planning, Zainab Ahmed, said the removal of gasoline subsidy would free up the revenue space for government.

The current administration said it removed the subsidy because it was no longer sustainable. It also said it did so to confront the subsidy scam, taking cognizance of the need to provide safety nets to cushion the attendant effects on some segments of society.

Oil revenue is projected at N1.92 trillion, non-oil taxes are estimated at 2.43 trillion, while FGN independent revenues are projected to be N2.21 trillion. Other revenues total N762 billion, while the retained revenues of the GOEs amount to N2.42 trillion

The budget has an oil price benchmark of $70 per barrel. Since the passage of the budget, oil prices have averaged $90 to $100, making more oil revenues available to the government to finance fiscal liabilities.

In the first month of the subsidy removal, the government announced a record oil revenue of N1.9 trillion.

And with an exchange rate of N435.57/$1 in the budget, the government is also making over 100 percent gain in the exchange rate differential. The green back currently trades for between N900 and N1000/$1.

With the dual challenge of escalating debt servicing obligations and the urgent need to augment its revenue streams, the mounting debt burden is raising concerns about the country’s fiscal stability.

To address this, experts and officials are calling for an expansion of the tax net and improved revenue management.

In the first six months of 2023, the federal government, through the DMO, had spent N1.195 trillion on paying interests on bonds, bringing the total domestic debt service to N1.44 trillion in the six-month period.

Total domestic debt stood at N48.34 trillion as of June 30, 2023 with FGN bonds accounting for 86.87 per cent of the total figure. FGN bond obligations as of the first half of this year stood at N41.972 trillion.

According to the latest report from the DMO, Nigeria’s total debt servicing expenditure reached N2.34 trillion over a six-month period. In the second quarter of 2023, Nigeria’s spending on debt servicing slowed down, amounting to N849.58 billion. This marked a notable 43.04 per cent decrease from the N1.49 trillion spent on debt servicing in the first quarter of 2023.

DMO data reveals that, in the first quarter of 2023, Nigeria allocated N874.13 billion for servicing its domestic debt and $801.36 million (equivalent to N617.35 billion) for servicing external debt, totaling N1.24 trillion.

However, during the second quarter of 2023, Nigeria’s expenses for domestic debt servicing amounted to N565.88 billion, while external debt servicing costs reached $368.26 million (equivalent to N283.7 billion), resulting in a combined total of N1.24 trillion, based on data obtained from the debt office.

The DMO applied an exchange rate of $1 to N770.38 for external debt servicing.

Unlike the previous quarter when Nigeria allocated approximately $131.13 million for servicing Exim Bank of China loans, there were no funds dedicated to servicing Chinese loans in the first quarter of 2023, as reported by the DMO.

In the previous administration of President Buhari, Nigerians often raised concerns over its massive borrowings, but it replied that it was borrowing within acceptable thresholds.

The International Monetary Fund (IMF) also expressed concerns over Nigeria’s rising debt servicing costs. Escalating borrowing costs and uncertainties in the global economic environment have made it challenging for Nigeria and similar nations to secure financing from international markets.

IMF deputy divisional chief, Wenjie Chen underscored the need for increased taxes to boost revenue and reduce debt. Chen pointed out that Nigeria, along with other frontier markets, had been largely excluded from the Eurobond markets since the spring of 2022, restricting its access to international funding sources.

As highlighted in the IMF’s April 2023 Fiscal Monitor report, entitled “On the Path to Policy Normalisation,” Nigeria’s debt is projected to continue rising, underscoring the urgency of implementing measures to enhance revenue generation and ensure fiscal stability.

In 2022, Nigeria spent a staggering 96.3 percent of its revenue to service its debt, a figure that sent shockwaves throughout the nation’s financial sector.

The director-general of the Budget Office of the Federation, Ben Akabueze, highlighted the alarming situation, noting that Nigeria’s borrowing capacity was dwindling rapidly due to its inability to meet its debt servicing obligations.

Akabueze’s warning was clear: when a country’s debt service ratio surpasses 30 percent, it enters a precarious financial territory. Nigeria, unfortunately, appears to be hurtling toward a debt service ratio approaching 100 percent, signifying an acute financial crisis.

Past president of the Chartered Institute of Taxation of Nigeria (CITN), Adeshina Adedayo, stressed the need for the expansion of the tax net in the country in the quest for expanding the revenue base of the country.

Noting that expanding the tax net would help with the generation of more revenue, he said utilisation of the revenue gathered and productive accounting is also important.

He also stressed that tax education will have an ample effect on tax compliance.

For the CEO of Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, the federal government budget had further amplified the troubling fiscal outlook for the economy, saying expenditure continues to accelerate amid consistent weak revenue performance.

According to him, a number of issues need to be addressed to achieve the nation’s fiscal sustainability aspiration, like government owned enterprises managing huge economic assets justifying the value of assets at their disposal and oil revenue performance doing much better given the prevailing global oil price.

https://leadership.ng/tinubu-continues-with-borrowing-policy-of-previous-government/#google_vignette

Me: Tinubu had raised the bar of aimless borrowing to a ridiculous height of madness. I see Nigerians revolting soon!

N3TRAL:
If the nomination of three or four citizens for the African category of an Anglo-American award is celebrated across the country's Social media space like we defeated Malaria, malnutrition, natal and infant mortality, unemployment, perennial poverty, hunger, mass illiteracy, and insecurity, then it is most candid to say that we've failed as a country.

I don't know if we can ever rise seeing how bad we've fallen.

We've always focused on the least utilitarian things that are usually irrelevant while neglecting the most important things that can make our society a liveable realm.

Powerful guy you are, I love deep thinkers

God bless you Prime Minister Benjamin Netanyahu God bless the Nation of Israel. I love this....no ceasefire agreement must be reached for now until those despicable terrorists are weeded out.

LeoDeKing:
God bless PBAT, the C-in-C of the Fed Rep of Nig.
God bless VP Shettima
God bless Nigeria and patriotic Nigerians
God bless the 5 geopolitical zones of Nigeria.

May the enemies of Nigeria continue to sink into bottomless pits.

May they continue to wail for the rest of their useless lives.

May sorrow & tears continue to be their portion.

Oya, enemies of Nigeria, my mention is now open for endless tears.

Yet you could barely feed well and have the good things of life.....kai

StreetFight:


Not in our administration. If you try nonsense in this administration, all those involved will not live to tell the story

Look at this riffraff suffering, about to die threatening reasonable folks who are trying to even pity his miserable life. You will soon be picked up for threatening innocent souls online. Irritating thing

seunmsg:
Mumu boy chasing shadows. God made Bola Tinubu president and no human being can undo the work of God. Everything possible was thrown at Tinubu just to stop him from becoming the president and he overcame all the obstacles and emerged president. Tinubu is not just smarter than you haters, he also has God on his side. That’s why everything keeps working in his favour.

Sorry David, you tried but you failed woefully. You failed not because you did not try enough but because God is not with you in your shadow chasing quest. It’s time to accept defeat and move to other quest.

Tinubu will remain president of Nigeria till 2027 at the first instance while you David Odensin will remain a refugee in Ghana and a beggar on social media. Period!

I can see that you are created to suffer and celebrate it, so be it. Only you supported a disaster called Buhari, same you again supporting Tinubu and will also he disappointed. He is even blaspheming by mentioning God in the same sentence as Tinubu on top empty stomach.

Kukutente23:

Don't mind this bigoted ignoramuses.
The first tribe to display disloyalty to their leader in Nigeria post-independence is the Yorubas.

Tafawa Balewa even while prime minister was wiping Ahmadu Bello's behind diligently.
Mike Okpara of the Eastern Region was subservient to the t even while Azikiwe was in faraway Lagos. If Azikiwe told him to stop breathing. He will nod in agreement.
The only troublesome one was the West where Ladoke Akintola broke ranks with Awolowo his leader and that ultimately led to Operation Weti e.
Same people who claimed Yoruba don't disrespect their leaders looked on while Ojukwu dragged them into a war and while Azikiwe turned them to serfs of the Northern oligarchs

God bless you my brother.....they are fond of twisting things up and down.

Kingchuksero:


Shut your mouth. Call a spade a spade.

May you not die before your time you lover of evil.....just look at him. Horrible sore loser

ThiLimited:
Good.
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OluwaMessi

PrinceOfLagos:
I want to whole heartedly congratulate his Excellency, the former governor of Lagos state, my home state, Mr Bola Ahmed Tinubu on his victory at the supreme court yesterday. It's a victory well bought and I pray he succeeds in moving Nigeria forward.

A better Nigeria is all we want and time will tell if Tinubu will guarantee us that soonest.

God bless the federal republic of Nigeria


Princeoflagos!

I am happy you captioned it well, "it is a victory well bought" therefore I don't need to waste my congratulatory salutation on such type of victory. Tinubu is doomed to fail and it is a question of time......just watch and see.

Reportbutton:
💪 The jagaban effect

Headless mob Will insult tinubu but will still benefit from this

Tinubu is a man will will attract good tidings to the nation.
Thank you America

Were you raised this way or you just suddenly turned yourself into this nuisance? Which one is jagaban stupid and mumu effect here.....an NGO is helping Nigerians where jagaban crooks will not have hands in the sharing ratio and you are still mentioning a damaged and nasty drug lord? No shame

LikeAking:
Peter Obi was as too desperate…

If he was patient, he would have teamed up with Atiku to defeat Tinubu.. Same way Tinubu teamed with with Buhari to defeat GEJ..

Defeating an incumbent is not beans anywhere in the world..

The Agulu man just dash Tinubu presidency..

Tinubu would have lost this election if not for PO’s lack of tact and unreasonable political strategy..

Imagine a whole Tinubu loosing Lagos..

I still blame PO for all we are suffering in Nigeria today…

Same PDP that gave Hume the fame.. PO messed up..

At the end nothing come out..

PO gained nothing..

He achieved nothing…


I blame Peter Obi..

Fact!

taylor88:
I wish I can meet Peter Obi one on one I would have loved that


I for tell Obi to withdraw from this case and let Tinubu rule till 2089


You see when you don’t expect anything from anyone you won’t be disappointed when you don’t get it because you’ve already made plans ahead to do without the person


Of all the geopolitical zones na only SE no dey too complain about this government because they were prepared ahead like they always got prepared from day one


Most of SS people too was prepared for the worst and hoped for the best hence e no dey too affect us


But you see Yorubas who taught Tinubu will stew their rice hence they kept all hope him



Na why them dey thief plantain and rice now to survive



Obi please drop this case and let Tinubu finish us


If you get money now plz venture into mortuary business because it will boom before 2025

This is beautiful, you finish talk here

Deepthoughts:
so this is how the supreme Court handle cases, just few questions ask about the motion to submit new evidence n that's all?, something tells me the supreme Court is just in a hurry to fulfill her own side of the bargain before Oct 30 to wash their hands off the coming FBI bombardment,no wonder Tinubu was against accelerated release of the documents,but it will be a shme of international dimension if the supreme Court rules in favour of Tinubu only for information to show beyond doubt that he is a crook by the FBI,I expected the supreme Court to have waited a bit to take cognizance of the developing situation,the presidency is an institution representing Nigeria, it's beyond an individual personal interest n shouldn't be rediculed.well we shall see.

The only saving grace right now is for PDP's legal team to compel FBI, CIA to release the reports on Tinubu today or else this election is gone because this stupid Supreme Court is behind Tinubu

tesppidd:
I have said it before and I will say it again;;;

Ain't no way the Supreme Court will remove a Nigerian President who has sat in Power for 6 Months!

Impossicant!!

USA can do it, Britain can do it, Brazil can do it, South Africa can do it, even Kenya can do it,,,

But not my Nigeria, one of the top most corrupt Nations in the world.
Nigeria could never do it.

Tinubu will be retained, make no mistakes about it...


But after that we move to FBI files and take him on....

If that fails we move to his disasterous performance on our battered economy and country and take him on....


Agbadorians will know no peace!!

Forget it, Nigerians can do it.....we can't continue like this haba.....a wild protest is brewing as we speak.

opamoses1:
Great Nigerian troops celebrating the surrender of Biafra at Uli airstrip.

Celebrating? Where are these ones today? What is the state of the country they all fought for and keep as one? Bunch of suffer heads who never learn anything

The best part of Judge Jeffrey Gilbert's judgment was when he turned down Chicago State University's request to respond in writing to questions about BAT's documents within 7 days.

The judge ruled that they didn't show good cause to merit such & ordered them to appear in person! So, as the questions are being thrown at them, they'd have to answer immediately. No time for mago mago.

If it is inJustice Tsammani just imagine what he would have done

seunmsg:


You lied and got caught. Apologize or provide evidence to support your claim. Editing your post and claiming mistake will not fly.

Are you always like this or it strikes you periodically......because I feel like entering into the system now and flog shege promax into your playful and stubborn soul.