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Nairaland Forum / Nairaland / General / Politics / Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% (6913 Views)
₦4.2 Trillion Debt Service: Economy Is In Real Crisis, FG Admits / Akinwumi Adesina: Tackle 73% Debt Service To Revenue For Economy To Grow / Nigeria's Debt To GDP Ratio Drops To 18.99%—DMO (2) (3) (4)
Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by MrSundry: 12:17pm On Feb 01 |
…The Economist projects further decline in 2024 https://businessday.ng/business-economy/article/nigerias-debt-service-to-revenue-ratio-hits-4-year-low/ 11 Likes 1 Share
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Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by Paraman: 12:37pm On Feb 01 |
Nigeria is moving in the right direction 12 Likes 3 Shares |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by eliyke(m): 1:00pm On Feb 01 |
Nawa ooo,which day we go hear good news for dis country like dis? 4 Likes 1 Share |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by eliyke(m): 1:00pm On Feb 01 |
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Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by twilliamx(m): 1:01pm On Feb 01 |
Kk |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by nairalanda1(m): 1:02pm On Feb 01 |
SO, our debt servicing has reduced a bit. Nigeria’s debt service-to-revenue ratio dropped to the lowest in four years for the first nine months of 2023 largely on the back of the federal government reforms, a BusinessDay analysis shows. Last comment reminds me why I ended up first supporting fuel subsidy removal totally. If a partial removal of subsidy could achieve the above result in the last paragraph (and during GEJ's regime, his partial removal of subsidy generated a large amount of revenue for government...which was one of the many reasons why I stopped opposing subisidy removal) imagine what a full subsidy removal would do. Even then, 66.3% of revenue going to debt service...yeah. The effect of low oil prices and by extension failure to diversify, and failure to improve tax to gdp ratio drastically over the last 10 years. Especially since 2015. (IN 2015, Osibanjo came and delievered a lovely speech where he stated that they would diversify. RIght now, oil still forms most of our revenue..80%) Good news, yeah, but work remains to be done. Anyway, I don't think APC is interested in economic diversification, plus NIgerian politicans, when forced to choose between economics and political survival, always choose the later. EIther way, NIgeria needs to earn more and more money Modifed A simple way of looking at this is that Tinubu has used the money from subsides, and from keeping the naira strong to reduce the proportion of money we spend on debt service. 12 Likes 1 Share |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by shiwex: 1:02pm On Feb 01 |
Emi Lokan, Emi Lokan.......see as you messed the whole country up. I don't blame the man , I blame ignorant Nigerians tht decide an 80 year old man is the one that should come and lead the country. We living abroad can see where all these will end. We told you ..Obi was your man..you all dey shout Na Yoruba turn. I am a Yoruba man and will never have voted for an old, corrupt man like Tinubu. I do not pity all those that are suffering, they had the chance to change their future but they decided to enslave themselves to APC.[b][/b] 4 Likes 1 Share |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by ddippset(m): 1:02pm On Feb 01 |
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Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by smokinloud(m): 1:02pm On Feb 01 |
God bless Tinubu. May Nigeria succeed!. 16 Likes 1 Share
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Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by Rodimi20000000: 1:04pm On Feb 01 |
Nigeria needs patience. Tinubu has done a perfect job so far 15 Likes 2 Shares |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by Emman08: 1:04pm On Feb 01 |
Renewed hope indeed 1 Like 1 Share |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by RapportNaija(m): 1:05pm On Feb 01 |
Almost 70% of revenue to service debt... No be failure be this? Why's APC still a political party in Nigeria? These devilish people should've been banished from the face of earth. What country do we want to leave for our kids if you people destroy everything today? Ehn! God save us oh! 1 Like 1 Share |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by israelmao(m): 1:05pm On Feb 01 |
What do you expect with astronomical rise in dollar against naira? |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by omoadeleye(m): 1:06pm On Feb 01 |
Nice |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by Bobloco: 1:07pm On Feb 01 |
Every index under Tinubu's calamitous regime is hitting a new low. We aren't surprised after all. Tinubu once said, "Na statistics, we go chop." |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by Jaymaxxy(m): 1:07pm On Feb 01 |
eliyke:Did you actually typed this? 11 Likes 2 Shares |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by Salewa97: 1:08pm On Feb 01 |
This is a good news. If our debt servicing reduced from 99.3% in 2022 to 66.9% in 2023, we should expect it to reduce further. This will free up fund for the federal government to work on other things. BusinessDay analysis of the data from the Budget Office of the Federation shows that debt servicing bill in Africa’s biggest economy gulped 66.9 percent (N5.79 trillion) of total revenue of N8.65 trillion in the first nine months, lower than 99.3 percent (N4.23 trillion) in the same period of 2022. 14 Likes |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by WhisperedNoise: 1:08pm On Feb 01 |
Lol We hit the ground running. Emilokan!!! We want to teach PO a lesson so we'll stand on Jagaban's mandate while he rapes our economy. 1 Like 1 Share |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by Golan007: 1:10pm On Feb 01 |
eliyke: You no really go.school. 6 Likes |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by nairalanda1(m): 1:10pm On Feb 01 |
RapportNaija: It is a failure,(as it shows how failure to diversify, and failure to improve the tax to gdp ratio since 2015 led to us relying more on debt and loans and debt...great job APC), BUT Keep in mind it was 90% 2 years ago. Either way, diversiifcation and imrpvoing tax revenue is needed still...because the above news is like saying that a patient who has kidney disease needs dialysis once a week instead of three times a week...which means his kidney is still shot. 2 Likes 1 Share |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by Macnnoli4(m): 1:14pm On Feb 01 |
When they said nobody can be worse than Buhari, I agreed. Even though high inflation resulted from the 'tough policies', Tinubu still managed to at least achieve something in the economic sense. Unlike under Buhari where high inflation resulted from 'tough policies' that didn't really achieve anything much in the end 1 Like |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by WhisperedNoise: 1:14pm On Feb 01 |
Rodimi20000000:Sarcasm? ![]() |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by omisanjo(m): 1:15pm On Feb 01 |
So u don't understand the write up and ure commenting. This is a good news na eliyke: 5 Likes |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by emmabest2000(m): 1:16pm On Feb 01 |
2 Likes 1 Share
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Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by YourGFsnatcher: 1:18pm On Feb 01 |
Do we even know what we are doing in this country or its just trial and error? |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by Jestin: 1:18pm On Feb 01 |
I gave up on Nigeria the moment I saw they have even borrowed the future of the country with our crude oil. The president that committed that act deserves to be stoned to death . Now we have indigenous refinery but no crude oil . Nigeria is gone 1 Like |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by ibrocool(m): 1:18pm On Feb 01 |
I pray things continue to get better in this country because it is not easy o. Surviving in this country alone is enough to be celebrated. 2 Likes |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by Bobloco: 1:19pm On Feb 01 |
Juanmike: Even if we continue to scream "Ebi n pa wa o" from today till next four years We must team them a political lesson 1 Like |
Re: Nigeria's Debt Service-to-Revenue Ratio Drops To 66.9% by eazzzy1(m): 1:19pm On Feb 01 |
The comment section is a clear case of why many Nigerians are unemployable. 22 Likes 2 Shares |
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