puretayo:
Pls, acct number lemme pay mine now.

frowland:


Even US cannot repay their $30 Trillion talk more of 9ja's paltry $10billion. Forget, its all politics.

sarrki:
Am not oweing a dime

God knows

dukie25:
Under Buhari, we have borrowed more money than any other administration.
We now owe every major country even though the IMF says we can't repay it.

flyca:
Let them keep borrowing.
And Buhari loyalists keep hailing him.

Someday, it will do them fiam for eyes!

Every sensible human being knows that there is no free meal anywhere in the world, even in Freetown. China is gradually coming in, one day they'll be back in full force to recolonize Africa. Amen.

arsenal33:
if past leaders had invested in infrastructure, nigerians will not be owing china today.

sarrki:
Am not oweing a dime

God knows

sarrki:
Am not oweing a dime

God knows

damiloladuke:
For the N3 trillion Nigeria has received from China in the last four years, every Nigerian owes China N15,000 in debt. That’s just N3,000 short of minimum wage, Daily Trust reports.

The debt comes from two huge tranches of aid from China: $3.1 billion in 2014 and $6 billion for infrastructure in the last three years, according to political analyst Theophilus Abbah.

Simple mathematics. Divide the combined total, just over N3 trillion, by the 198 million population Nigeria always talks about: that’s a nice N15,000 in debt to China for every Nigerian.

And that doesn’t even include the loan agreement signed this week in Beijing where China pledged $60 billion in credit facilities, a quarter of it interest free.

Analysts say getting governments indebted to China is the republic’s way of outsmarting the US and the UK in Africa trade

“They are active in Liberia, Ghana, Angola,” minister of state for petroleum, Ibe Kachikwu, told Bloomberg.

“They are throwing money where their mouth is and in very many respect is one area where they have beaten both the US, European and British in things like this.

“Africa requires a lot of development funds; China is able to provide it. Not just provide in terms of money but provide with adequate technology.”

The implication is Africa may be unable to resist Chinese trade and international politics.

Recently, at the World Health Assembly, the US proposed watering down recommendations against breastmilk substitutes and threatened all countries who opposed its stand with sanctions.

Only Russia stood up to the US and saved the recommendation.

A United States lawmaker, Rep Chris Smith, chairman of the Foreign Affairs Subcommittee on Africa, said in a recent opinion article that China also uses foreign aid as a “bargaining chip” in corrupt African countries with plenty of natural resources for them to exploit.

“AidData, a research laboratory at the College of William and Mary, argued in written testimony submitted to my committee that China effectively buys the votes of African governments at the United Nations; they concluded that if African countries voted with China at the UN an extra 10 per cent of the time, they would receive an 86 per cent bump in assistance,” the lawmaker said.

Nigeria has accepted the Chinese Yuan as a reserve currency, which will begin to compete with the US dollar.

The US lawmaker lamented that the Chinese in-road into Africa could be dangerous.

“All of these trends—rising levels of debt, shoddy infrastructure projects, and investment that permits human rights abusers to consolidate their influence and power—point to serious risks for the future of the African continent.”

https://lailasnews.com/every-nigerian-owes-china-n15000-political-analysts/

damiloladuke:
For the N3 trillion Nigeria has received from China in the last four years, every Nigerian owes China N15,000 in debt. That’s just N3,000 short of minimum wage, Daily Trust reports.

The debt comes from two huge tranches of aid from China: $3.1 billion in 2014 and $6 billion for infrastructure in the last three years, according to political analyst Theophilus Abbah.

Simple mathematics. Divide the combined total, just over N3 trillion, by the 198 million population Nigeria always talks about: that’s a nice N15,000 in debt to China for every Nigerian.

And that doesn’t even include the loan agreement signed this week in Beijing where China pledged $60 billion in credit facilities, a quarter of it interest free.

Analysts say getting governments indebted to China is the republic’s way of outsmarting the US and the UK in Africa trade

“They are active in Liberia, Ghana, Angola,” minister of state for petroleum, Ibe Kachikwu, told Bloomberg.

“They are throwing money where their mouth is and in very many respect is one area where they have beaten both the US, European and British in things like this.

“Africa requires a lot of development funds; China is able to provide it. Not just provide in terms of money but provide with adequate technology.”

The implication is Africa may be unable to resist Chinese trade and international politics.

Recently, at the World Health Assembly, the US proposed watering down recommendations against breastmilk substitutes and threatened all countries who opposed its stand with sanctions.

Only Russia stood up to the US and saved the recommendation.

A United States lawmaker, Rep Chris Smith, chairman of the Foreign Affairs Subcommittee on Africa, said in a recent opinion article that China also uses foreign aid as a “bargaining chip” in corrupt African countries with plenty of natural resources for them to exploit.

“AidData, a research laboratory at the College of William and Mary, argued in written testimony submitted to my committee that China effectively buys the votes of African governments at the United Nations; they concluded that if African countries voted with China at the UN an extra 10 per cent of the time, they would receive an 86 per cent bump in assistance,” the lawmaker said.

Nigeria has accepted the Chinese Yuan as a reserve currency, which will begin to compete with the US dollar.

The US lawmaker lamented that the Chinese in-road into Africa could be dangerous.

“All of these trends—rising levels of debt, shoddy infrastructure projects, and investment that permits human rights abusers to consolidate their influence and power—point to serious risks for the future of the African continent.”

https://lailasnews.com/every-nigerian-owes-china-n15000-political-analysts/

Ugosample:


what is this one saying?

One, the US govt is not owing 30 trillion

Two, the U.S. economy is buoyant enough to even support debt to GDP ratio of 200 %a feat the US can not even get to in the next 30 yrs

Nigeria on the other hand has a vulnerable economy at the mercy of external shocks, and given these shaky fundamentals, the dullard is still stock piling debt

What if Naira further depreciates and oil prices tank again?

How will Nigeria service it's debts

The country is just full with dullness and USELESS people

Keeping my kids away from that zoo is amongst the best gifts I'll ever give them


Awon rada rada

egoldman:


Do you know the price of oil when Buhari took over the government and the price it today?

Do you know where the difference has gone to?

Jonathan government might be bad, but to say Buhari has made things better is an insult to the millions of suffering Nigerians.

Felixv:
Nigeria's foreign reserves stand at about $46bn ..up from what mr jonathan left it at about $29bn --in spite of low oil prices we have managed to continuously increase our foreign reserve

now how much do we owe china --less than $9bn.

there is no other country willing to help nigeria build her infrastructure except china ,and they are also providing the money for that. the IMF along with the opposition politicians are just playing politics.

during the pdp years , Nigeria was selling oil at over 100 dollars a barrel yet there is absolutely nothing to show for it..even the foreign reserves were depleted.

this administration is very prudent at managing the nations resources that even JAMB is returning money to the nations coffers.

frowland:


You are too full of yourself. You and your so called 'smart godlike kids' can remain there for all we care.

First, the so called debt did not start from the 'dullard'. Most started right from your demi god GEJ, who upon 3-4 year of oil boom still borrowed to service recurrent expenses. Nigeria' oil revenue from 2011-2015 stood at staggering 200billion$$. Where was the infrastructure?
Is it not stupiid of your demigod GEJ seeing that he is not a dullard like Buhari? What can you say about that those wise man?

Secondly, regarding US dept compared to nigeria;
If we look at the ratio of debt per person, we see that this number has also doubled in the last decade just like in nigeria. We know categorically that the US now owes $60,890 per American.
Question wise man, what is US per capita to GDP
What is Nigeria's per capita to GDP.
If you know those answers, then you know who the f00lish one is.
Kapish.

ezenwajosh:
For those shouting am not owing anybody....when you went to buy and its no longer the price u use to buy it....u have started paying it.....that's how you pay

Ugosample:


Why is this one bringing Jonathan into this now? ??

I don't remember calling his name

what is this half baked illiterate even saying

"per capita to GDP? "

what does that even mean?

America has a highly productive economy with a reasonable dependency ratio, and with corporations across the world that add to their economy

Nigeria on the other hand is a highly unproductive economy, mono economic economy vulnerable to shocks, and a very very high dependency ratio due to the very very high unemployment rates in that $hithole jungle

Who do you then think is in a better position to sustain its debt profile? ??


And just as I said before, the US can still sustsub debt of up to 200 % of their Gdp; which currently stands at just over 105% the last time I checked

And the debt is not up to 30 trillion