afrodoc2:
The stupid part of Supacell. You are invading an estate where people with superpowers are held captive, and you allow someone with no superpower (and can’t defend herself) to tag along.
Someone who is at a high risk of dying based on the evidence from the future.

NIGERIA is sinking deeper into another debt trap. This is after the country’s debt-to-GDP ratio recently crossed the 50 per cent threshold for the first time since 1991.

The Bola Tinubu administration inherited a debt-to-GDP ratio of 38 per cent. But fresh borrowings, securitisation of the Ways and Means advances, a failure to tackle fiscal challenges such as low crude output amid soaring government expenditure, and a sluggish GDP growth rate have pushed the ratio to 52.9 per cent. This is significantly above the prudential debt ceiling of 40 per cent prescribed by the International Monetary Fund for developing countries.

The current figures raise the question of debt sustainability in a country that has allocated 30 per cent of the 2024 budget to debt servicing.

The latest figures by the Debt Management Office show a public debt portfolio of N121 trillion comprised of a domestic debt of N65.6 trillion and a foreign debt portfolio of $42.1 billion or N56 trillion.

Nigeria’s finance managers have usually prided themselves on maintaining a relatively low debt-to-GDP ratio compared with its African peers. As of 2023, Ghana had a debt-to-GDP ratio of 84.9 per cent, South Africa 72.2 per cent, Kenya 70.1 per cent, and Egypt 95.8 per cent.

The rising debt-to-GDP ratio is bound to severely constrain Nigeria’s ability to expand the borrowing needed to fund the budget deficit. Huge increases in debt service obligations worsen this. Nigeria spent N7.8 trillion to service its debt obligations in 2023, a 121 per cent increase compared to N3.52 trillion in the previous year.

A PwC report projected that Nigeria’s debt service could rise from N8.25 trillion in 2024 to N9.3 trillion in 2025 and N11.1 trillion in 2026. This may affect the country’s debt servicing ability, credit rating outlook, and borrowing cost.

In 2005, Nigeria faced an unsustainable debt scenario, with a total revenue of around $9 billion and a debt portfolio of approximately $36 billion. The Olusegun Obasanjo administration made a historic deal with the Paris and London Club of Creditors that allowed Nigeria to buy back about $30 billion of its $32 billion external debts through a one-time cash payment of $12 billion.


Since that clean slate, the public debt has continued to rise progressively again. Under President Muhammadu Buhari, public debt rose from N12.6 trillion in 2015 to N97.3 trillion by 2023. Between December 2023 and March 2024 alone, public debt has increased by N24.3 trillion. The COVID-19 pandemic, a double recession, and lower oil revenues have been adduced as reasons for the borrowings.

Nigerians hardly have anything to show for the huge public debts.

Rail and road infrastructure remains in a poor state nationwide. Health and education facilities are in a shambles. Power is absent in a country where citizens provide the essentials for themselves.

The only seeming beneficiaries of the borrowing spree have been political officeholders and government employees whose lavish lifestyles are supported by the borrowed funds.

That Nigeria is sinking into another debt trap shows that the National Assembly is not living up to expectations. In its typical rubber stamp fashion, it has allowed a regime of fiscal irresponsibility by the executive. Parliament should monitor the country’s finances, promote accountability, and curb wastage. The Nigerian equivalent seems fixated on reckless spending on non-essential fancies like new presidential jets.

More prudence needs to be applied in managing financial resources. Fiscal leakages such as oil theft, contract inflation, outright looting, and ‘ghost workers’ must be stopped. The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, must see this as a tipping point and draw up measures to ensure that the country’s debt profile is sustainable.

Ibime:


She said today is not her day since it wasn't July 9th

Anyway the show was good, but they should avoid 2nd season. I can only see it degenerating into a farce from here. The last episode was already a bit farcical in the last fight, and if they continue, they will just descend further into sci-fi bullshït

What made the series was the personal stories which they have now exhausted, it's a one season show and they should end it there

Olowunl01:

2027 voter apathy is going to be worse in the South, cos power has to return to the North, cos based on calculations power should be returned to the North. It's either that's the sentiment going to be promoted when we get closer to 2026 or might probably be the deal Tinubu struck with them for their support, hence the recent Northern Elite alignments.

Ibime:


She said today is not her day since it wasn't July 9th

Anyway the show was good, but they should avoid 2nd season. I can only see it degenerating into a farce from here. The last episode was already a bit farcical in the last fight, and if they continue, they will just descend further into sci-fi bullshït

What made the series was the personal stories which they have now exhausted, it's a one season show and they should end it there

OasisX:


........we all know what are doing. LOL!

nihilistjnr:
Don't know what you nIggas are talking about. HOTD is GOATED!

CrystalTiger:


That commissioner that mocked him earlier on about clearing canal, just went back and started clearing the canal..

Olowunl01:

2027 voter apathy is going to be worse in the South, cos power has to return to the North, cos based on calculations power should be returned to the North. It's either that's the sentiment going to be promoted when we get closer to 2026 or might probably be the deal Tinubu struck with them for their support, hence the recent Northern Elite alignments.

Olowunl01:

2027 voter apathy is going to be worse in the South, cos power has to return to the North, cos based on calculations power should be returned to the North. It's either that's the sentiment going to be promoted when we get closer to 2026 or might probably be the deal Tinubu struck with them for their support, hence the recent Northern Elite alignments.

larride:


Canal that the commissioner has been clearing since?

Clearing canal must be one special hidden discovery.

raumdeuter:
America will know

https://www.nairaland.com/8147577/us-radio-host-interviewed-biden

raumdeuter:


Tinubu has a second term to vie for from 2027 to 2031, By 2031 its the turn of the North

larride:


I dont understand sir, after Buhari 8yrs and Tinubu just completed 4yrs, power will go back to the North again? I dont understand what you are driving at sir?

raumdeuter:


Lol eye don open.

We all know what we are doing. No one is deceived by the power grab attempt

Olowunl01:

Buhari 8yrs=Obj 8yrs
Jonathan +YarAdua=Cancels even though Jona had more
Jonathan 4yr+ Tinubu 4yrs= Power Needs to shift to the North.
Similar sentiment was used against Jonathan, so I won't be surprised.

raumdeuter:


Tinubu has a second term to vie for from 2027 to 2031, By 2031 its the turn of the North

Olowunl01:

Buhari 8yrs=Obj 8yrs
Jonathan +YarAdua=Cancels even though Jona had more
Jonathan 4yr+ Tinubu 4yrs= Power Needs to shift to the North.
Similar sentiment was used against Jonathan, so I won't be surprised.

OasisX:




......Nigeria didn’t start in 1999, neither the democratic government. Shehu Shagari was elected in 1979 and spent 4yrs. He was re-elected for 2nd term and if not Buhari, he would have spent 8yrs.

So the 4yrs Shehu Shagari spent didn’t count for the North bá?!

Olowunl01:


Sheikh how far back do you want to go? It is agreed in-principle that rotation started from 1999.

Olowunl01:

Buhari 8yrs=Obj 8yrs
Jonathan +YarAdua=Cancels even though Jona had more
Jonathan 4yr+ Tinubu 4yrs= Power Needs to shift to the North.
Similar sentiment was used against Jonathan, so I won't be surprised.

larride:


Lol. Tinubu is not Jonathan.

OasisX:




....let's agree rotation starts from 1999,
GEJ 4yrs = Yar'Adua 4yrs [he was the one elected in 2007 not GEJ]

Lady who admits having sexual relations with dogs faked death- Actress Abiola Adebayo


A Nollywood actress and podcaster, Abiola Adebayo has revealed that a young lady who reportedly killed herself after admitting on a podcast to engaging in sexual activities with her dogs as a result of addiction stemming from past trauma faked her death.

Adebayo said the lady, identified as Adenike Adewodun, faked her death in an attempt to escape the public backlash and legal consequences of her actions.

The actress made this known in a statement she released on her Instagram page on Thursday, titled “Miss Adenike Adewodun’s ‘Fake Death Antics”.

GloriousGbola:
Imho it is just another made up story for clicks

It is quite possible that sexual abuse /violence can turn women off sex with men - but how does one go from I can't have sex with men to I am 'satisfying myself ' with dogs?

Today there is a wide array of intimacy gadgets available. Her fellow women are available. She can simply chose to pleasure herself

Can a woman actually get an orgasm from sex with a dog? Forget bestiality porn and depraved Arabs.

The other day on fp there was a story where a woman claimed taht she started cheating on her husband from day one of the marriage.

This is just Nigerians adopting tiktok /social media trigger culture for clicks

izzou:


Power needs to shift to the North ke?

This is not true for 2027, my Chief

GrammarNazi1:

Does the Democratic Party not have a sellable candidate for the US presidential election apart from Biden?

Imagine going to Radio stations to answer questions that had been sent to the radio presenters in order not to have a bad outing similar to the debate against Trump.

Olowunl01:

They where both elected, if not the argument could have been made that a new election be called with the passing of YarAdua, it's a joint ticket, I guess you are joking.

GrammarNazi1:

Does the Democratic Party not have a sellable candidate for the US presidential election apart from Biden?

Imagine going to Radio stations to answer questions that had been sent to the radio presenters in order not to have a bad outing similar to the debate against Trump.

Olowunl01:

Chairman, Tinubu became president majorly due a to huge support of the power rotation sentiment, North vs South, after 4yrs of Tinubu, means South has had 8yrs more, if the North pulls such sentiment Tinubu is a gonna, cos he never won the south, if election is taken today he would still lose the South to Peter Obi, so I really do not see where he is going to get his numbers from in 2027 if such scenario was to play out.

Ibime:


Democrat doesn't have a sellable candidate cos they didn't play the long game

The long game is about media exposure and Trump played the long game by giving exposure to the likes of AOC and other extreme candidates in the Democratic party. They were the ones hugging all the headlines cos Trump was giving them exposure knowing they are unsellable to the wider public. As soon as Kamala Harris emerged, she was also assassinated with all her records from 1990s brought up, thus leaving the field bare for Democrats. Na only Biden dem get.