₦airaland Forum

Paraman:
I hope the people who thought Buhari and Tinubu will give free crude oil from their states to Dangote can now rest

Dependence on Oil Revenue
Nigeria’s external reserves owe much of its growth to the development at the international crude oil market. The Nigerian government has been dependent on oil revenue for more than half of its budget and more than 90% of its foreign exchange.

Debt Servicing
Nigeria’s federal and state entities have borrowed so much money that debt service now consumes more than 70% of revenue, according to the finance ministry. Nigeria spent N2.34 trillion on debt servicing out of N3.25 trillion revenue generated in the country in 2020.

Consequences of High Debt Servicing
The government’s increasing reliance on internal and external borrowing to finance its operations puts Nigeria’s future at risk. In 2023, debt service was expected to absorb somewhere between 80 and 100% of oil revenue. The cost of debt servicing had surpassed the government’s retained revenue, leaving it in a deficit.

Efforts to Reduce Dependency
Efforts to reduce dependency on borrowing have led to a renewed drive to increase efficiency and revenue intake. The reinvention of the Nigerian National Petroleum Corporation as a “private venture” and the proposed five percent tax on mobile services, including voice calls, mobile data and text messages, are some of the moves to increase revenue.

In conclusion, Nigeria's dependence on crude oil and high debt servicing are significant issues that need to be addressed. The government's efforts to increase efficiency and revenue intake are steps in the right direction, but more needs to be done to reduce the country's reliance on oil revenue and borrowing.

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jmoore:
The word 'Billionaire' abused daily in Nigeria.

Billionaire is 1 billion US dollars/pounds/Euros and above.

Mike7302:
Guys abeg which phone get good battery(like the battery dey last),4g enabled, 6inchs screen and is under 35k .

You can get a Hisense Infinity E8 about 6inch screen.

Freemasonry:
For those who tried to reach out to me via email, I regret that I cannot access the email at the moment.
But I’m grateful for the effort you’ve made and would welcome the opportunity to interact.
You can either mail me instead at this address:
profitwithinternet@gmail.com or drop your whatsapp number.

Hi Freemasonry
Please, Add me up on +2348132138153
I need some details from you..
thanks

Hi NL
Understand Something. Education & Success Are Two Different Things. Being Educated Is Not Synonymous With Being Successful. Zimbabweans Are Some Of The Most Educated People In The World. But The Country Is Devastated. Why? Because Success Is About Relationships. When Mugabe Took The Land. He Damaged The Relationship With Europe & America & Since Blacks Follow The West. He Also Damaged The Relationship With Africa. Relationships Determine Success. Your Relationship With Your Teachers. Your Relationship With Your Community. Your Relationship With Your Peers. Your Relationship With Your Boss. All Success Comes From Relationships. We Are All Connected. You Cannot Stand Alone In The Modern World. No Matter How Educated You Are. Zimbabweans Suffer Because On A Governmental Level. Their Relationship With The World Has Been Compromised. Not Because They Are Stupid. Not Because They Are Impractical. Not Because They Are Backwards. No. Zimbabwe Suffers Because Of Broken Relationships. You Need Connections In This Life. Education Is Good But Connections Are Better. The Most Successful People Are Also The Most Connected. That's Why You Find Broke Graduates & Rich Criminals. To Be A Criminal Is To Be Connected. You Have To Have A Relationship With Other Criminals

Biglittlelois:
If the husband should contribute 120k out of 400k, how much will the remaining family members contribute, particularly the huncle getting married? Nawa o.

Earnestly..
This is another way of exploitation... family robbing family