lexy2014:


I don't need 2go back to read ur first statement. If u have corrected d error, that's good enough

alezzy13:




*facepalm* Olodos all over.


Just to state here that I'm not in anyway a fan of this govt, however. The fact that you *hope* FG pays back the TB shows you have ABSOLUTELY no idea what the process entails. Well, as I have let me indulge you illiterates this once:

Taken from a TB thread: What are treasury bills: https://www.nairaland.com/878880/treasury-bills-nigeria



In simple language, TBs are nothing new and its a NORMAL way of FG raising funds on shortterm basis. Regarding the issue of "paying back", its virtually unheard of for FG to default, hence its usually called zero-risk. The only possibility is if (in the very unlikely event) all our oil dries up and Fg becomes totally broke.

integrity16:


Kuku kill yourself then.

DLifeless1:

Hmmm .....
Kai!

. I noticed it is days to election periods that the army do make fronts in this their war, so am still asking, what is actually happening?
APC is claiming PDP ran Nigeria down in 16 years, okay, what is the way forward? A man came and promised us that 1 dollar will be 1 naira, that terrorism war will end in 3 months when he enters office, that we will have steady electricity supply in 6 months, that he will sell most of the presidential fleet to curb excessive spending, plus other things including fighting corruption. We pushed the known devil for an unknown angel. Their first excuse was that PDP left the treasury dry, but loots and bags of money is being discovered here and there with no name mentioned, the story is now changed to next level as in when they were dishing their campaign promises they didn't know PDP milked the country.
What we feared most happened, if you are in opposition, you are hunted till almost all the supposed corrupt PDP riffraffs are now in APC as saints and leading the campaigns, so now are we to wait for another 16 years for these goons who ran Nigeria down in 16 years to rerun it down again before our brain starts functioning.
That Trump is successful is because he had a purpose, our current president got an f9 in common mathematics, our vice President can't even express himself fluently, the police ig is a Stark transmitter who is partician and same with the army that I was ready to do anything to join cos I wanted to serve but as it stands maybe God knows the country is lost to imbeciles who already have succeeded in dividing the country between religious and ethnic line that we've forgotten this is one country and not different countries that are allies.
No freedom of speech again, the polititians have noting to offer looking at the manifestos they brandish, in abia, the PDP slowpoke is campaigning based on zoning, that is he has no plans at all or what developmental strategy to uplift the state, in the national level, I fear what PDP as in skeptical because the English in it tends to confuse than elaborate and APC is just filled with Stark failures from the old PDP, no direction, in chaos, distorted and stupid.
I just saw a post of the new dangote refinery that will start producing not now, am not saying its not good but other countries like the desert we use to know as UAE really are fine tuning their electric cars, why can't Nigeria budget more or invest more in education and research like Israel. Imagine, the students are at home, schools on strike and these guys are happy and unperturbed doing their campaign rallies and these same students whom their future is sacrificed kill and maim themselves for these selfish bastards. It's just as If this strike was deliberately planned to frustrate the students to stay at home and do their election biddings, foreign companies like mtn and multichoice milk the citizens dry and the government have no solution to it cos some of them have being bribed to be docile, as a Nigerian citizen you don't even have the right to live your life because one drunk illiterate police or army with inferiority complex will snuff your life off you and there is no tangible headway or light at the end of the tunnel.
I noticed from the area I stay that the rich wants the poor to be poorer to serve them and to manipulate them, am against depending on anyone but if you can't help your neighbor, don't decieve him, let us always tell ourselves the truth. Youths now value crime as an escape route because they've been made to understand that their best efforts will amount to noting.
Another news is that fg is to borrow another 823billion naira in first quarter of 2019, please who did we offend?

Seriously when I see people fight over political issues and interest here, I only understand that there is no hope for Nigeria again, these polititians know that is why none of their children reside in Nigeria because they know what they've done, that is why when I saw the news of that fool stabbed during apc rally, I had no compassion for his useless soul cos he died in vain and you'll see some other fools will go on to fight.
Why can't we ditch all these old idiots and look within ourselves for a better option, most of these men won't be alive in the next 30 years, it is we and our children that will be reaping the seeds we are sowing now.
As for me, as far as I know my conscience is clear and I contributed noting bad to this country, I'll never follow you guys to suffer it period.

TrendingAccount:
The federal government of Nigeria is set to borrow N823 billion from the domestic economy in the first quarter of the year 2019 (Q1’19) through treasury bills which will be issued by the Central Bank of Nigeria (CBN).

The Apex bank disclosed this in its treasury bills (TB) issuance programme for Q1’19 which was released yesterday. The fresh TBs to be issued during the quarter comprise of N51.5 billion worth of 91-Days TBs, N164.9 billion worth of 182-Days TBs and N607.1 billion worth of 364-Days TBs.

The analysis of media giant Vanguard showed that from January 3rd to January 31st the CBN will issue N555.02 billion worth of TBs comprising N23.8 billion worth of 91-Days bills, N116.16 billion worth of 182-Days bills and N415.06 billion worth of 364-Days bills.

In February 2019, CBN will issue N268.7 billion worth of TBs comprising N27.8 billion worth of 91-Days bills, N48.8 billion worth of 182-Days bills and N192.1 billion worth of 364-Days bills.

But the amount of fresh TBs to be issued is N84.87 billion less than the N907.87 billion worth of TBs that will mature and also be repaid during the period, reflecting the FG’s decision to reduce domestic borrowing in favour of foreign borrowing.

The maturing TBs is made up of N59 billion worth of 91-Days TBs, N248.8 billion worth of 182-Days TBs and N678.1 billion worth of 364-Days TBs.

SOURCE: https://www.trendingaccounting.com/2019/01/fg-of-nigeria-to-borrow-n823b-through.html

Shawnnn01:
Here we go again with another Biafran with some senseless shii to spill. My bother we are Nigerians and we won’t be gullible like the 2 million Ojukwu led to their early graves. Our own head correct if una own no correct




[s][/s]

CyberWolf:
Lending is not the problem, the problem is do the government ever pay back?

iammo:


typical black man with black mind, a white man sees a bank as a place to get money to better his finances through car loan, mortgage, and startup grants, while a dunce black man thinks bank is for savings and transactions only

OdikwaRisky:
you obviously don't know how t-bills work, they are the "safest" invstements you can make and the default rate is really low

9japrof:


Using your thesis, obasanjo that fought with his sweat and prowess to negotiate us away from billions of debts in dollars must be a stupid black man...

Use your sense once, these politicians dont care about you

iammo:


common sense is indeed scarce and thats the reason why we have hopeless jobless youths, and dull 85million poor people.. the debt relief obasanjo sorted was balance and deficit of forex transactions during abacha and babangida regimes, according to debt management office our debt to GDP is so little it seems Nigeria dont want to develop by using the money market..... i get your fears caused by PDP's corrupt bad debt, however china nexim bank loan goes straight to railway contractors, sukuk bond goes straight to road contractors

omonnakoda:
They are not "safe" at all they are very vulnerable to inflation and exchange ratee risk if the source of your funds is in dollars.

Rewind to 4 years ago exactly what happened to those who bought FG paper when dollar was 150:1 ? within a matter of months the value was eroded by half and the 14% interest was not enough,
Inflation in Nigeria is too high too make goernment paper "safe" and that is why the interest rates are that high. Compare that with US in 2017 that were 1%.

In 2015 yield was 0.09 &
i.e If you lend the government $1000000 they'd pay $900 as interest at the end of the year
So banks needed to be creative to make money
In Nigeria the government is effectively subsidizing banks

What that is saying is that the dollar is so safe we don't need to pay to borrow

In fact all you needed to do was borrow in the US bring it to Nigeria buy treasury bills and you could make "safe " millions with ease/ Unless the Naira crashes and then you'd struggle to pay unless you were connected when you could buy at government rates and sell at the black market

OdikwaRisky:
Lol this your long story is completely irrelevant, when I said “safe”, I meant that the default risk is very low (you’d almost always get your interest payment irrespective of how low it is or have eroded the value will become ) compared to riskier assets like equities where dividends are not guaranteed. Of course bills and bonds and securities in general are succeptible to macroeconomic fluctuations, you really didn’t need to write a whole thesis about that.

omonnakoda:
Default risk is low means what that you get 1 million "Naira" back but what if 1 million naira is worth 1% of what it was when you invested. Default is JUST ONE of several ADVERSE EVENTS that can happen to an investment
Safety cannot mean just default but LOSS of investment of any description. With goverment paper inflation is a fundamental consideration
In 2015 the naira lost 50% in 2-3 months that is not SAFE in my book
Safety must cover inflation/devaluation risk
I went into detail to hilight that your claim was, to be fair, UNTRUE they are not safe AT ALL

calling it irrelevant, a thesis is your problem, I understand your psychology, it is what it is .Anyone can say anything
If you don't like it delete it
the interest rate IS A MEASURE OF RISK The market has judged them to be HIGH RISK
Some investors would consider Nigerian government paper to be Junk Bonds.
How many Nigerians living in the US are confident enough to take a loan and invest in T-Bills

iammo:


Cool Investment opportunity, but CBN can do better than 10% interest

i love buhari's credit based budget funding, rather than waiting to earn from daily oil sale batch by batch.. he already has something to work with, and when the money finally comes in we can pay back while creating investment oppurtunity for citizens.

this is the model adopted by America and U.A.E, but greed and corruption wouldnt let PDP pigs to adopt this model hence the litering of Nigeria with abandoned projects.

typical black man with black mind, a white man sees a bank as a place to get money to better his finances through car loan, mortgage, and startup grants, while a dunce black man thinks bank is for savings and transactions only

Yankee101:


Ngozi cleared out debt, Buhari took us deeper into debt

omonnakoda:


Are you oK?



NO headache or fever?

omonnakoda:


Are you oK?



NO headache or fever?

Yankee101:


Absolutely. Where does your confusion lie about Ngozi clearing or bebt or Buhari worsening it?

omonnakoda:
Ngozi was a Finance Minister Buhari is a President compare like with like

Obasanjo cleared debt

In terms of Buhari He took over from Jonathan not Obasanjo and under Jonathan the debt position worsened . It was under Jonnathan with Ngozi's connivance that Dasuki raided the Central bank and in her last few weeks in office she borrowed to pay salaries and reversed all the good work Obasanjo had done

https://www.premiumtimesng.com/business/182543-nigerian-govt-borrowing-billions-to-pay-salaries-okonjo-iweala.html

Yankee101:


We are comparing PDP with APC, NGozi straddled most of the time of PDP in power so when i invoke her name you should ordinarily know that's referring to PDP

Borrowing during goodluck can be located in projects. The airports and railways Buhari is clapping at himself for are all goodluck brainchilds.

grandstar:


Why the self hating of your colour

Your colour has nothing to do with outcomes

In 1978 China was extremely backward. It did not not mean Chinese people were daft or idiots but rather gthey had been misruled for about 40 years under Chairman Mao.

They now launched economic reforms which saw them increase GDP (I think 40 fold) over 40 years.


Italians were once very backwards and poor and scorn was poured on them in America but today are one of the 10 largest economies in the world

Your have wealthy black countries like the Bahamas and Barbados. In Africa Botswana has done quite well

And Nigerians are the ethnic group in the United states with the highest per capita university education in that country!

omonnakoda:
Sorry I am non partisan politically I do not support any party

Your claim abut Ngozi was wrong there was a fundamental difference between Obasanjo and Jonathan

She came into Jonathan's government in 2011 and within months it was a disaster

They gave us the January 1 fuel price increase and the monumental scandal of the fuel subsidy increase in her very first budget


It is clear that the woman needed supervision and guidance which Jonathan could not provide instead he foolishly made her coordinating Minister and it was made clear that she was alll hype

Her first budget under him was perhaps the worst display of incompetence in our history when the fuel subsidy increased monumentally overnight

Remember the Otedola story?

She superintended Dasuki looting the CBN under Jonathan and so on

So there is no way she can be given credit for cleearing debt especially as she borrowed massively under Jonathan even before the oil price crashed reversing all the work of Obasanjo' government


Debt clearing and pension reform must be credited to Obasanjo who I do not support either but you comparison of Ngozi to Buhari is crazy compare Buhari to Jonathan or Obasanjo

Yankee101:


I won't comment further really.

No Nigerian govt has performed excellently to any decent level (maybe Tafawa Balewa, but who was still playing Ahmadu Bello's regional politics) without sectional inclinations.

I thought you were Buharistan

omonnakoda:


Abusive language is no substitute for a reasoned argument

Debt to GDP revenue is a crude measure of what you should be borrowing

First how efficient historically has the government been at extracting revenue from that GDP base and how efficient is it likely to be in the future
We talk of GDP that is millions of people selling Gala in the street, pure water seller and poultries with 1000 chickens here and there .What kind of tax can they pay to help service debt?
If you compare two economies with a GDP of 100 billion one with a population of 100 million people and a per capita of $1000 per annum
and the other with 5 million people and a per capita of £20000 is the capacity to pay tax the same?

One is a medium income economy while the other is a poverty economy

A man with 10 children and a man with 2 children on the same salary have the same "household income" their capacity to borrow or repay are NOT the same

Debts have to be serviced and that it is why it is important to factor in the ability to repay as well as the interest rate
10% interest rates very quickly become a burden. Now it is being claimed that servicing is approaching 40% of revenue. Does the Debt to GDP model also prescribe what fraction of REVENUE should go into debt servicing?
Most of the Expenditure in the budget now goes on Recurrent Expenditure which is mainly on salaries and debt servicing

Thse are the issues that require intellectual engagement not gratuitous and self indulgent abuse . Any one can call the nexxt person dull or jobless it changes nothing

If we spend all our money servicing debt and paying salaries then we never grow.