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Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion - Politics - Nairaland

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Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by boman2014: 6:16am On Nov 04, 2020
Zainab Ahmed, the minister of finance, budget and national planning, has projected that Nigeria’s debt profile would hit N38.68 trillion by December 2021.

Speaking when she appeared before the senate committee on local and foreign debts on Tuesday, Ahmed estimated that both external and domestic debt would rise to N32.51 trillion by December 2020.

According to the Debt Management Office, the total public debt stock, which comprises the debt stock of the three tiers of government, stood at N31.009 trillion at the end of June 2020.

“The total public debt stock comprising the External and Homes debts of the Federal and state governments and the federal capital territory stood at N31.01 trillion (USD85.90 billion) as at June 30, 2020,” she said.

“It is projected, based on existing approval, to rise to N32.51 trillion by December 31, 2020, and N38.68 trillion by December 31, 2021.”

The International Monetary Fund estimated that Nigeria’s debt to gross domestic product (GDP) ratio stood at 29 percent in 2019; including Asset Management Corporation of Nigeria (AMCON) debt and power sector financing.

The federal government spent 97.5 percent of its January to May 2020 revenue on debt servicing.

During the five-month period, N1.58 trillion was spent on debt servicing; representing 97.5 percent of the N1.62 trillion revenue generated.

The minister attributed the various abandoned road projects in the country to poor funds releases caused by dwindling revenue.

“I am one person that feels that we should just take one major road in one geopolitical zone and finish it.

“We were not able to do that because of the processes in which appropriation is made both at the executive as well as the legislative arms of government.

“Truly, if we are able to just take one or two projects at a time and complete it before going to the next one, it will be better.

“You will see a road that costs, maybe N5 billion, and you will see a provision for N100 million, N200 million or 300 million.

“Of course the project will never finish. After two years, the contractor comes back and asks for variation, and the amount keeps growing.

“I wish that we get to a point when we sit down as government and agree that let us select a few projects, finish them in 2020, and then in 2021, we select the next.

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“So that on a geopolitical basis, those selections are done as a collective process.”

Ahmed assured that legacy projects like the Lagos-Ibadan highway, 2nd Niger Bridge, East-West road, and Abuja-Kaduna-Kano road, are ongoing due to availability of funds.
https://thecable.ng/zainab-ahmed-nigerias-debt-may-jump-by-n6trn-in-2021-to-hit-n38trn

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Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by lindareep: 6:18am On Nov 04, 2020
If you're reading this just know that Nigerian government doesn't have plans for her citizens... They only know how to loot and put the country in debt.

I quote in peace!

Meanwhile, guys I sell beard oil (Original) if you want to grow beard before December and you reside in Lagos chat me now, I will deliver beard oil to your preferred location within Lagos, payment on delivery is allowed kiss kiss kiss

97 Likes 2 Shares

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by MAGG0T(m): 6:18am On Nov 04, 2020
smiley

After this borrowing and setting up audio schemes, masses are still suffering..


What's really the aim of this government, for the past 6yrs they have been blaming the past government and haven't found their bearing,..no objective on how to alleviate the masses from poverty

Animals that support this useless government I guess u have an answer to it all..

119 Likes 7 Shares

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by Raydos: 6:20am On Nov 04, 2020
38 trillion borrowed And Nigeria is still topping the list of the Poorest country in the world!!

Worst Roads in the world
Worst Schools, Security, and the list is endless

This 38trillion if put to good use could have change the entire story of nigeria, But no, Black people and their black brain!

Recently, my curiosity has led me in to making some research about black people, Do we have the same brain with white?? Is our brain really black??

Why is it that Blacks countries are the poorest in the world, And not just in Africa, Even in North America too, Black countries like Jamaica, Haiti and so on are also poor!!

Even in America, Blacks mostly live in the ghetto!


What is wrong with us?? Are we created Differently?


So many questions I need answers for!

103 Likes 9 Shares

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by bewla(m): 6:24am On Nov 04, 2020
By 2024 many of u will be sawing new uniforms am sure


Youth will have take over
Pls reform Kuje ,ikoyi,alagbon,kaduna,. and any prison of your choice

You be needing long rest there

28 Likes

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by prodigiousman(m): 6:38am On Nov 04, 2020
This country is on a long thing, Nigeria has break a record, for more about Nigeria's Debt check this:https://www.nairaland.com/6212356/nigerias-debt-86-billion-dollars

1 Like

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by oluseyiforjesus(m): 6:59am On Nov 04, 2020
1000 rich Nigerians can come together and pay dis debt, but dey won't because na Dem steal d money in d first place

God blessed country like Nigeria shld be debt free, but because of our greedy leaders we are in debts............

14 Likes

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by hajaguna: 6:59am On Nov 04, 2020
Whose fault? Shey na me dey help una dey borrow ni?

2 Likes 2 Shares

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by letristian: 6:59am On Nov 04, 2020
And you politicians Keep borrowing for your selfish interests and unborn generations... It's not China again, it's now Brazil.

If you still support Buhari at this point, its either that you've got brain problems or you're one of them.

Shame on you all. Posterity will never treat you kindly.

23 Likes

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by dust144(m): 6:59am On Nov 04, 2020
BOrrow nation.

2 Likes 1 Share

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by uncleck: 6:59am On Nov 04, 2020
The crazy thing is that no one can point at a project and say: this is what we did with the loan.

I pity our future generations

13 Likes

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by uunwanaobong3: 6:59am On Nov 04, 2020
O boy, I love US election.... What I learned from all this is don't brag and destroy another person image like cnn did to trump all because of election, you might be driving more sympathizer his way.

Now see cnn wey openly say that "according to poll, trump chances of reelection is zero and binding chances is 98%" ...... Now the same cnn is struggling to analyzed election results coming in because trump is about to Bleep them again...... Infact from electoral college votes heading his way, trump is 85% set for white house return.... I love it seeing how cnn is trembling...... Their propaganda is hit back at their face hard.......
.. Mr President, the God of innocent will judge you fairly........ Ride on, ... No media judgement or intimidation, propaganda will frustrate you.

I love it, how trump is painting US red, they manufacture pandemic and racial lies just to tarnished trump image....... But what they can not lie about was America economy growth under trump before the pandemic....... Trump is the best for America especially now.

21 Likes 2 Shares

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by faithfull18(f): 6:59am On Nov 04, 2020
Politicians debt.

1 Like

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by pickatyou2: 7:00am On Nov 04, 2020
What do you expect from the most clueless, ignorant and terrorist government in history.

4 Likes

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by femijay8271(m): 7:00am On Nov 04, 2020
I dey hear say Dem still wan increase VAT

2 Likes

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by Nobody: 7:00am On Nov 04, 2020
you can borrow 1trillion usd

as long as you keep the maitama based fulani cartel well oiled

and give 20k npower pocket money to your hungry APC zombies

no new industries created
no serious investment in a world class educational and medical institution after 60 years
just loan and loan upon loan

sai buhafreak

nonsense and government

16 Likes 1 Share

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by Jwonder(m): 7:00am On Nov 04, 2020
wink Buhari is clearly trying to destroy the Nigerian economy so it would be almost impossible for anyone coming after him to succeed.

My anger is these loans don’t reflect in the daily life of the average Nigerian, it’s hard to highlight any meaningful physical project been funded by these projects.

They spent the Chinese loan with nothing to show for it, they’ve now moved on to Brazil to borrow more, what kind of daft finance minister do we have that allow them make these foolish decisions.

12 Likes

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by MUYEEKFIRST(m): 7:00am On Nov 04, 2020
IPOB is the cause of all this. They're too stubborn
boman2014:
https://thecable.ng/zainab-ahmed-nigerias-debt-may-jump-by-n6trn-in-2021-to-hit-n38trn

1 Like

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by Ladycewhy(f): 7:00am On Nov 04, 2020
Lol, as expected.
Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by Oluwasaeon(m): 7:00am On Nov 04, 2020
Thank you Buhari
Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by Nobody: 7:00am On Nov 04, 2020
We appreciate All your borrowing dear Bubu and Committee.......

Now the question is what have you been doing with all these Mullah

4 Likes

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by thundafire: 7:00am On Nov 04, 2020
Atleast wen Brazil comes for their debt. They country get boys were go service their women on a daily basis
Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by money121(m): 7:00am On Nov 04, 2020
Buhari
Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by brosom(m): 7:01am On Nov 04, 2020
Looks like BODEN WINS US PRESIDENTIAL ELECTION AGAINST TRUMP
Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by dfrost: 7:01am On Nov 04, 2020
grin

We are getting there gradually. Cool.
Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by ignis: 7:01am On Nov 04, 2020
This government is only good in borrowing .

1 Like

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by Midas01: 7:02am On Nov 04, 2020
At this point if you're supporting Buhari then you're a mad person.

9 Likes

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by stevebond007(m): 7:02am On Nov 04, 2020
Clueless govt.
After Brazil, where next?
Borrowing is now their Hobby.

2 Likes

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by BigDawsNet: 7:03am On Nov 04, 2020
wink let me mind my buisness

Biden! Come on boy! You can do it
Come on...
Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by Eriokanmi: 7:03am On Nov 04, 2020
the Brazilian loan if secured, would enter individual pockets as usual. Contracts would be inflated and awarded to their cronies with mobilisation paid up to 75% and jobs would only be executed up to 50% completion with delay tactics, during which exchange rate would soar as always the case and that would give them excuses to borrow more to complete the project. We know how they roll in this government with their systematic looting.

4 Likes

Re: Zainab Ahmed: Nigeria’s Debt May Jump By ₦6 Trillion To Hit ₦38 Trillion by Emmafresh: 7:03am On Nov 04, 2020
boman2014:
https://thecable.ng/zainab-ahmed-nigerias-debt-may-jump-by-n6trn-in-2021-to-hit-n38trn
Many have borrowed but few will pay

1 Like

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