He has enough stolen money to pay it!

ODI444:

This the career of our Finance Minister
But before then, she graduated from ABU, did her second degree in a State University in South West and that’s all.
Didn’t see her ICAN or ANA membership history.
This country is in the hands of mediocres.

Zainab Shamsuna is the current Minister of Finance, Budget and National Planning[8] of the Federal Republic of Nigeria.

Zainab Shamsuna was the immediate past executive secretary and national coordinator of the Nigeria Extractive Industries Transparency Initiative (NEITI). She was also a member of the last two NEITI boards, having worked in the NEITI and global EITI.

An accountant by profession with a Bachelor of Science degree in accounting from ABU Zaria and a Master’s in Business Administration (MBA), Ahmed, in her biography, says she has “extensive knowledge and diverse experience in public sector reform and management.”

Upon graduation, Ahmed was employed in 1982 as an Accountant II in the Main Accounts of Ministry of Finance in Kaduna State and was promoted to Accountant I in March 1984, but resigned in 1985 to join NITEL. Earlier, she had done her National Youth Service in Kaduna State in 1981/1982 where she was posted for primary assignment to Messrs. Egunjobi Suleiman & Co. Chartered Accountants, and served as an Audit Trainee.

Ahmed has served the Nigerian public in various high ranking positions, including as managing director of the Kaduna State of Nigeria’s investment company, and also the Chief Finance Officer of the Nigeria mobile telecommunications company. [9] Zainab was reappointed and sworn in as the Minister of Finance on the 21st of August 2019 by the President[10]

But kemi adeosun,, who had work experience having worked with various national and international bodies was indicted with fake Nysc certificate even prior to that people we're condemning her of being too strict and not capable because of her attentive to details skills and strict follow up of released funds.

AFONJAPIG:
Very soon Naira will be as useless as Venezuela money, it will littered the street of Yoruba land even some of them will not afford toilet tissue papers after eating watering beans and ewedu, they will be left with no other option than to be using it as baby diapers and bum bum wipers... Ndi Ara

Bro wetin you smoked? Nnwanne biko what did you sniffed this afternoon?

Pls what brought tribal issue into these can you tell me in brief statement.

That thing you just smoked not good for you health because its like the screw upstair has loosen.

Hmmm as if he would have done any better himself. All of them are the same jor

Okoroawusa:

Na wa o! You are also shocked?
Atiku , PDP n Igbos are in shock?

Okotorigba!!!!

I don’t think you’re okay for classifying me as IPOB...have you and I or anyone engaged on that before and I presented myself as an IPOB?

nameo:


Yes, we have a Revenue Vs Expenditure(nasic obligations sef) issue, but when you are in the dire financial cum economic situation as described above (debt-to-revenue ratio tending to 100%), one of the things you must do is to reduce COST. Once you reduce cost(esp unnecessary ones), your expenditure will reduce thereby reducing pressure on your revenue and ensuring that your deficient spending(borrowing) reduces. That is massive and evn painful reduction of cost and blocking leakages on the revenue side.


Yet Buhari has not only reduced cost. Cost has arguably increased.

A President that therefore takes the lazy path of just borrowing more while using almost all its actual revenue to pay interests on previous loans is not only serious but sick.

It should frighten you.

What they ignore is that borrowing has to be sustainable. It's not a question of whether the country needs to borrow, but the scale of the borrowing weighed against the tax revenues needed to service the debt.

When the oil price initially collapsed in the second half of 2014, Iweala started talking about the need to implement austerity (i.e., cut costs) and it was in that context that she made the (in)famous comment about borrowing to pay salaries.

From the beginning, this government has taken the path of expansive fiscal spending as a way of stimulating the economy. But you cannot stimulate your way out of a currency crisis. The more you spend, the more you increase naira supply in the midst of a dollar shortage putting your currency under more pressure (too much naira chasing too few dollars).

What it needed to do at the beginning was reduce the cost of government. Too few Nigerians (mainly politicians and govt workers) actually benefit from the government anyway. Fuel subsidy has to go too, ditto the currency regime that fixes the exchange rate to the dollar.

To illustrate how something like the currency regime has been wasteful. The government's spending is mainly in naira so it would convert oil export dollars to naira. If it converts it at the then fixed rate of N197 to $1, the government was effectively shortchanging itself as the market exchange rate was over N300 whilst committing to borrowing the shortfall. So the government's expansive spending increased naira supply and facilitated naira depreciation but by using an artificially inflated exchange rate it had to borrow more than necessary to meet its spending commitments which worsened debt sustainability.

The government hasn't given serious thought to economic reforms that would attract foreign nvestment like privatization (why are the Lagos ports run by government?) and deregulation (think of the downstream oil sector).

The government's state-led interventionist model relies on government spending to do the heavy lifting of revitalizing the economy. It is this way of thinking that condemns Nigeria to a debt crisis.

DenreleDave:
Atiku will just talk.. Buhari wunt hear word

Is Atiku in the position to talk? Do you know for many years his shipping line evaded tax and shady deals he signed with the NPA during jona time. There are some people that shouldn't talk in this Nigeria we have now because they themselves have done worst things possible to it. Some set of people will just want to claim saint or chief adviser overnight. Shioor

Sell make Atiku buy all

Atiku sef.. What do you expect from a general that retired from service more than 40 years ago? Throughout the years, he did NOTHING. No lectures, never written any book or poem. Never awarded any role in West Africa, never given any award not even a honourary diploma. He has zero investment, never set up or managed a business since retirment. Never built any vocational or academic centre, this man did basically nothing. His profile is EMPTY.

40 years after retirement, we are still debating the authenticity of his WAEC result. His only qualification is that he became a military president by COUP!

Question is: What do people expect as deliverables from this personality?

Who among us would employ this personality to manage a N1 million business? Now this same man has been borrowing in trillions of Naira.

First I think it important to know the source of these loans ... is it the world bank or the organization of Islamic states , the forclosure could be part of a grand plan.

They are always shocked. What nonsense

xynerise:
When you support a man who doesn't have a single idea about economic development, this is what you get in return..

Shebi he is dying to rule Nigeria by all means? Oya na

when he was dying to rule Nigeria,it was not because he wanted to work for Nigeria and Nigerians
He was on a personal mission for self
1 To boost his ego that he could return to power despite being booted out in a coup
2.For personal aggrandizement,he can't survive for long outside government,since he doesn't know how to make money

duro4chang:
A man who cannot maintain his workers!!!

Is there anything in that post that is a lie? What has your useless president ever maintained?

nameo:


Yes, we have a Revenue Vs Expenditure(nasic obligations sef) issue, but when you are in the dire financial cum economic situation as described above (debt-to-revenue ratio tending to 100%), one of the things you must do is to reduce COST. Once you reduce cost(esp unnecessary ones), your expenditure will reduce thereby reducing pressure on your revenue and ensuring that your deficient spending(borrowing) reduces. That is massive and evn painful reduction of cost and blocking leakages on the revenue side.


Yet Buhari has not only reduced cost. Cost has arguably increased.

A President that therefore takes the lazy path of just borrowing more while using almost all its actual revenue to pay interests on previous loans is not only serious but sick.

It should frighten you.

Imagine. So, all this borrowing and rising debt have just been used to barely sustain the economy? I was even thinking all the borrowing done has been to grow the economy and revenue, not knowing it's just been used to support the current deficit. For how long has this been going on and when will our revenue generation grow enough to offset our debt to revenue ratio.

Intrepid01:


I don’t think you’re okay for classifying me as IPOB...have you and I or anyone engaged on that before and I presented myself as an IPOB?

Me? Call me you IPOB? I dey mad?

You are SDP nah

Flier:
I don’t know where you guys want Buhari to get money without borrowing and I am sure Atiku would have done the same
Almost every nation on earth is in debt at the moment
America have been printing money non stop for 4 months now and still not enough
Close to 9 trillion dollars printed already and they are still contemplating printing more
Gej and okonjo started borrowing when oil was $65 per barrel and you are telling Buhari not to borrow when oil was 19$ barrel,the worse is there was no one to buy it
Buhari is clueless but when it comes to our economic situation,he has no choice than to borrow otherwise you all will starve to death

If you must borrow it must be as a last resort after tightening your belt.
As far as I am concerned Nigeria has not reach the stage to borrow. After all, you have over 10 aircrafts in the presidential fleet, you are giving over 20b for renovation of a building in national assembly, national assembly is still running billion naira budget, you are spending 680m per day on audio school feeding programs, you spent 100b on covid 19 palatives within 1 week meanwhile in years you cannot provide national ID to Nigerians, you want to collect 500b usd loan to upgrade Nta!

So Atiku don join the shocking game abi?

How I wish I can just sleep and wake up in Canada :-

dat goro chewing bastard

I am shocked

ahmedkoded95:


https://www.pmnewsnigeria.com/2020/06/16/atiku-shocked-by-nigerias-debt-profile-says-nation-in-financial-crisis/amp/?utm_source=&utm_medium=twitter&__twitter_impression=true

Buhari and his APC cohort of unlearned Fulani are leading us into modern days slavery. This This isn’t a party thing , this will lead us to regrets because their plans is to obviously put the nation in serious debt . This Hausa/Fulani leaders and cabals are the ones inciting Buhari to keep borrowing money from other nations. Can’t me budget according to our revenue “pocket” ?
If you are learned and you support Buhari, just know that you have failed your generations, just pray something comes up to quench this nightmare or else, your future generations will consume crumbs from their education to public facilities. How can a leader allow terrorism to function like an approved force? How can herdsmen be walking around with AK47 to kill whoever refuses to allow them graze in their land?? How can banditry be thriving in a country where it Armed forces has gone to several nations for peace keeping?
I wish the nation will be wise enough to elect an educated person in the next election, an individual that has passion for this country irrespective of his / her party. I wish for a better Nigeria where education is priority and it’s facilities are not make -shift buildings.

might be heading the way of Greece or Mexico.

Built2last:
You have a clueless CBN governor who is supposed to be a monetary policy expert but because he represents Jim Ovia and Buhari with canals, Nigeria is in ruins.

You have a minister of finance with no previous pedigree, no expertise in financial management of such magnitude. We gave her finance. All they do is pass files for her to sign.

You now have a president who promised to fight corruption and use recovered money to fix economy but all na wash.

We never chin chun chi. My savings since 2015 have been in Dollar and pounds.

Only Buhari and his family are doing well. Pic speaks for itself

Very smart.

Any Nigerian that is not saving in dollars right now is playing a dangerous game.

Even the smart buhari fanatics have converted their assets to dollars.

nijabazaar post=9073j2811:
We all deserve Buhari

No, I don't deserve that dead walking corpse because I never supported, campaigned or voted for him. Only zombies and sycophants did.

Flier:
I don’t know where you guys want Buhari to get money without borrowing and I am sure Atiku would have done the same
Almost every nation on earth is in debt at the moment
America have been printing money non stop for 4 months now and still not enough
Close to 9 trillion dollars printed already and they are still contemplating printing more
Gej and okonjo started borrowing when oil was $65 per barrel and you are telling Buhari not to borrow when oil was 19$ barrel,the worse is there was no one to buy it
Buhari is clueless but when it comes to our economic situation,he has no choice than to borrow otherwise you all will starve to death

No words for folks like you. I am just so sorry to stand besides such fellow citizens who have an equal franchise in this country. Nothing in all you see happening has not presented your principal with the opportunity of cutting the notorious cost of governance. Is there a greater opportunity to take such a decision when the opposition is all but dead, labour and civil society cowered, the Judiciary and Leguslature in your pocket, the military bogged down with rampant insurgency and banditry.

Tell me, is there a civilian President who has enjoyed such totalitarianism since independence.... none. This President has absolute power so he has absolute responsibility. History wil not vindicate his failings. Nigeria of today is crafted in exactly his image. Everything we hear, see and feel is exactly the way he wants it to be.

You simply cannot escape that fact. The America you quote has productivity leagues ahead of ours. They lead the world in several key industries. They are the largest market in the world for almost all goods produced on earth. And the dollar is the reserve currency of the world so the productivity of all countries using the dollar will always keep the dollar in tight bounds. It is just mediocre thinking to try to equate their position with ours.

The damning fact is that 99% of our income goes to debt service. America is no where near that. If you cannot isolate the failings in your own country I am just sorry. The man is in his 80's with less than a decade to go. How much of this debt can be paid in his lifetime. Who will pay the rest.

xynerise:
When you support a man who doesn't have a single idea about economic development, this is what you get in return..

Shebi he is dying to rule Nigeria by all means? Oya na

Honestly, Since 2003 this man has been trying to get into power. #JustNegodu

When we said we wanted a person who actually has run large businesses, and understands how economies work, we were booed. They said they didn't want a smart man who (allegedly stole), but a mouthpiece who (allegedly) did not steal.

Buhari reminds me of the parable of the talents:
"The first and the second servants explain that they each put their talents to work, and have doubled the value of the property with which they were entrusted; each servant was rewarded. The third servant, however, had merely hidden his talent, burying it in the ground, and was punished by his master"

This is the third time (I'm including military rule) Buhari was put in charge of Nigeria's affairs... by now we should know better.

Even roadside economists will tell you that the first antidote to financial ruin is fiscal discipline. That is made to measure, ultra efficient expenditure and radical investments. If you continue spending in 2020 the same way you spent in 2013 when the oil price was 5, 6, 7 times the price now then you need your head examined.

If you are spending twice, thrice what you spent in 2013 in this quagmire then you are certified insane. Nigeria's expenditure profile in almost all non productive sectors of government is up from 2015. Who is responsible for this carelessness, indiscipline and corruption please.

Okoroawusa:

Me? Call me you IPOB? I dey mad?

You are SDP nah

Oga what are you saying, what is SDP?

Flier:
I don’t know where you guys want Buhari to get money without borrowing and I am sure Atiku would have done the same
Almost every nation on earth is in debt at the moment
America have been printing money non stop for 4 months now and still not enough
Close to 9 trillion dollars printed already and they are still contemplating printing more
Gej and okonjo started borrowing when oil was $65 per barrel and you are telling Buhari not to borrow when oil was 19$ barrel,the worse is there was no one to buy it
Buhari is clueless but when it comes to our economic situation,he has no choice than to borrow otherwise you all will starve to death

You typed all this still failing to profer solution to the issue in ground. Everything that has problem has solution and everybody that has a problem should be seeking solution to their problem.

He didn't say government should abruptly stop borrowing. He said we should cut expenditure and profer ways of generation more revenue for the country while cutting down on unwanted so called government expenses.

The American you are talking about. Do you know the expenses incurred by Buhari every month is more than Trumps own?
And yet they have far better economy than we dream of having

What a country

delawal:
during the last election, my mentor peter obi told u all abt how dangerous debt is to nigeria and how to fix nigeria without accumulating debts, u guys ignored him bc he is an igbo man. u people forgot that he is d only governor in nigeria dt built infrastructures and at same time saved alot of money before leaving office same way government in norway does. now it has cleared una for eyes. una think say na etnic supremacy fight we dey now una dn realise say na everybody go partake inn d economic doom perpetrated by someone who dont have an ordinary waec result that most motor park touts have gotten years back

All the thing wey your mentor dey yarn that time na Okoto until he proves otherwise and fulfils them. What different result will we have today if Atiku were to be president. Las las, all of them are thieves and only want to be in power to steal and destroy.

Osinbajo no be Vice president with Various degrees and educational qualification. Where has that gotten us now please?
Abeg