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Business / Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by TheBill(m): 2:00pm On May 16 |
Paraman: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. 1 Like |
Politics / Re: We Dey For You, We Go Fight For You Good Man – Cubana Chief Priest To Shettima by TheBill(m): 3:54pm On Feb 28 |
🤣🤣🤣🤣 jmoore: |
Phones / Re: What Phone With These Features Can I Get Under 35k by TheBill(m): 8:45pm On Apr 18, 2021 |
Mike7302: You can get a Hisense Infinity E8 about 6inch screen. |
Travel / Re: I Need Urgent Advice On My Planned Trip To Japan by TheBill(m): 12:44pm On Feb 23, 2021 |
Freemasonry: Hi Freemasonry Please, Add me up on +2348132138153 I need some details from you.. thanks |
Literature / I'm Africa by TheBill(m): 11:50am On Jul 06, 2020 |
When earth came to be.....Africa be By a diversity of fear — Africa came defeated. By the acceptance of white supremacy — She lived only by the strength of her breathe. By her nature’s bounty and rich cultural geography; The white man came on an African safari — Because she would become her mother lode of industrialization and a New world. Africa — The cradle of the early men. Africa — The lamp that never beacons. “This treasure in mine arm” amputated by the brutality of haughtiness, aristocracy and racial prejudice. Africa — the gold mine of the western colony. Africa — An idea birthed in dark skin humans. Africa — The breed of skin naturally rich in melanin. I am Africa... Don't discriminate #BlackLiveMatters #Overunderdogs |
Nairaland / General / A must read about “Relationships” by TheBill(m): 11:38am On Jul 06, 2020 |
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 |
Family / Re: Should The Man Pay It? by TheBill(m): 11:17pm On Jun 15, 2020 |
Biglittlelois: Earnestly.. This is another way of exploitation... family robbing family 1 Like |
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