Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,178,516 members, 7,905,009 topics. Date: Tuesday, 30 July 2024 at 12:13 AM

Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust (15997 Views)

2017 Budget Is A Budget That Goes For More Debt -sanusi II / How We Were Pressured To Squander $18bn- Jonathan / How We Were Pressured To Squander $18bn Excess Crude Saving — Jonathan (2) (3) (4)

(1) (2) (3) (4) (Reply) (Go Down)

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by Nobody: 2:10pm On May 11, 2015
Reading APC and PDP commentators.
Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by philips70(m): 2:10pm On May 11, 2015
Can they give Lawrence Nomayagbon Anini and Monday Osunbor a posthumous Nobel Peace price?

3 Likes 1 Share

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by Keegan: 2:11pm On May 11, 2015
Prof Okonjo Iwealla Peller please take your magic wand to where you came from. Enough is enough!

1 Like

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by Shittaakeem(m): 2:12pm On May 11, 2015
So this is all part of the transformation agenda abi.
angry.

2 Likes

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by Nobody: 2:13pm On May 11, 2015
The product of luxury life style.
Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by CecyAdrian(f): 2:13pm On May 11, 2015
moscobabs:
GEJ was born to destroy Nigeria
cheesy cheesy
Epic grin

1 Like

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by MabraO: 2:14pm On May 11, 2015
Where is temitemi and barcanista

Come and defend ur hero

GEJ needs to be d president of kirikiri maximum prison

5 Likes

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by mulattoclaro(m): 2:16pm On May 11, 2015
These people have succeeded in looting hell out of this country.

3 Likes

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by Nobody: 2:16pm On May 11, 2015
That man called GEJ displaying himself as an angel.....

2 Likes

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by olusipimp(m): 2:18pm On May 11, 2015
Chaiii...see how dis flat head jonadumb,madam ewe ila and dt alinson maduekwe wreck our country,may ur generation never enjoy all what γ̲̣̣̥ou̶̲̥̅ loot from dis country,its. Sickness and death shall be urportion
Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by naija2dabone(m): 2:20pm On May 11, 2015
Dear Buhari,

Congratulation once again for your victory at the polls.

Now to the point of this letter: You have got 4 years to keep ALL your campaign promises and your time starts May 29 at 00hrs. Please note that we will not tolerate any form of excuses for non performance as nobody forced you to make those promises. We were told that you are a man of your words, so please in your own best interest, keep your words.

We are not asking for heaven on earth, no. We are simple asking that you deliver on YOUR promises:

4 refineries
40mw of electricity
Naira = dollars
N5,000 for unemployed
One year allowance for corp members
Free qualitative education
Fight against corruption, (not selective fight please)
and many more.

Please dont come asking for more time because we dont have the luxury of more time. Dont tell us to be patient, because if we wanted to be patient, Jonathan would have been our perfect man. Dont tell us past leader destroyed the economy because you were one of them. Just get to work and get us result. If you cant deliver, now is the time throw in the towel.

Be guided

Voter

1 Like 1 Share

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by anonimi: 2:21pm On May 11, 2015
I hope this story is untrue or that there is a very plausible explanation for it.
I sincerely hope all this is not a scheme to scandalise Jonathan/PDP as they exit the stage at the federal level.

Either way, an URGENT statement from the outgoing federal administration would be very appropriate!
Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by Nobody: 2:21pm On May 11, 2015
3000000000000/160000000=18750

An average Nigerian is owing 18,750 naira.

Dear all, kindly pay your debt.

7 Likes

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by PassingShot(m): 2:22pm On May 11, 2015
[s]
naija2dabone:


Voter
[/s]

Dumb as.s!

2 Likes

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by 989900: 2:22pm On May 11, 2015
philips70:
Can they give Lawrence Nomayagbon Anini and Monday Osunbor a posthumous Nobel Peace price?

If the above would go to 'hell' (according to some people), where then would those who've been bleeding us dry since time immemorial go?

2 Likes

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by wiloy2k8(m): 2:23pm On May 11, 2015
and over 3 trillion was used for election ... dia is God oooo
Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by islandmoon: 2:23pm On May 11, 2015
Jonathan has mortgaged our future! he borrowed over 18Billion Dollars to pay senators, re-election and looting purposes, this is what Madam Ngozi has done, borrow to loot this woman eyes like egbere eyes..bush baby eyes


i now see why Naira is now 199 to $1

useless woman using us for experiment

am not an economist but i know since i was in JSS 3 that IMF will ask you to devalue your currency when your debt is much and you didnt pay up, so jonah borrowed, and he devalued the naira at our own expenses!!
we are now paying for it everyday, we are enslaved in our own country buy looters who claimed to be leaders
set of thugs..

6 Likes

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by PassingShot(m): 2:24pm On May 11, 2015
anonimi:
I hope this story is untrue or that there is a very plausible explanation for it.
I sincerely hope all this is not a scheme to scandalise Jonathan/PDP as they exit the stage at the federal level.

Either way, an URGENT statement from the outgoing federal administration would be very appropriate!

How can it be untrue when the paper quotes DMO and many notable figures?

Is it longer any news that the FG now borrows to pay salaries?

Have we not known that Nigeria's debt has increased since?

If anything, this report is only a confirmation of what we have long known.

8 Likes

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by tubolancer(m): 2:24pm On May 11, 2015
authority2006:
Hmmm, this government is not the type of government Nigerians deserve. May we never have this type government in Nigeria.
Amen,really nothing is working. I have never witness this kind of situation in my life. No light,no petrol. It's so pathetic.

2 Likes

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by 989900: 2:25pm On May 11, 2015
We have a very skewed money policy by the FG/CBN+the banks/Finance ministry that is designed to make a large chunk of the population bar a few, remain perpetually poor, regardless of the amount of money that Nigeria makes.

And they even borrow money that they don't need, and still pay interest on it.

3 Likes 1 Share

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by sikaxchange: 2:42pm On May 11, 2015
this is ridiculously crazy
Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by Realist2: 2:42pm On May 11, 2015
[quote
author=mekzyjoe post=33631493]SMH FOR DIS COUNTRY... angry
angry..Vote for Trypa for Miss Nairaland
2015..www.nairaland.com/trypa[/quote]
Pls is berem also vying for miss Nairaland too?
Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by donbrowser(m): 2:52pm On May 11, 2015
OilGas:
Abeg PDP driver "owa oh." Stop me at May 29th Junction. Let me enter APC shuttle. You've been driving roughly for four years. My CHANGE biko. My mama say make I dey careful................................................................................................YOU'VE BEEN LOOKING LIKE ONE CHANCE TO ME.
Aregbesola bus stop nko?
Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by mekzyjoe(m): 2:54pm On May 11, 2015
Realist2:

Pls is berem also vying for miss Nairaland too?
berem?? ..jst Vote for Trypa for Miss Nairaland 2015..www.nairaland.com/trypa..dats all
Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by Nobody: 3:09pm On May 11, 2015
Twaci:
cheesy But still, who knows?

BTW what does ur signature mean?
The signature is Latin word which means " If you seek peace prepare for war"

1 Like

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by zimoni(f): 3:11pm On May 11, 2015
$21Bn to service debt in four years?

Obasanjo's regime cleared the debt, how come the debt keep accumulating nah?

We have a long way to go in this nation.

Too badt.

3 Likes

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by zinosleek(m): 3:12pm On May 11, 2015
18bn dollars debt and oil was highest at this administration, wetin they use these money do. Gross mismanagement, this administration is a fraud

1 Like

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by aderonila18: 3:13pm On May 11, 2015
MabraO:
Where is temitemi and barcanista

Come and defend ur hero

GEJ needs to be d president of kirikiri maximum prison


They always run away from threads exposing the sham that is Gej's government angry

5 Likes

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by sunnyolads1(m): 3:14pm On May 11, 2015
I foreseen downfall of a nation called Nigeria if GEJ had won the 2015 Presidential election. This is a serious matter o.

4 Likes

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by stephmike(m): 3:16pm On May 11, 2015
borrowing in the mist of plenty. this is ironic!!!
Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by Ibime(m): 3:27pm On May 11, 2015
Domestic debt is not so much a problem as foreign debt.

Risk is reduced when countries borrow in their own currency.

In a worst case scenario, Nigeria can redeem her Naira bonds by fiat - quantitative easing. The ECB, Bank of England and US Treasury did this as part of their QE program. The difference there is they created the money to buy bonds from the private sector. CBN would be creating money to pay off bonds already bought from the private sector.

It was the same way with AMCON - all the Banks' toxic assets were erased by fiat.

Quantitative easing to pay paper debts do not overly increase Naira supply nor the velocity of money (which leads to hyperinflation) as a lot of the cash ends up sitting in Banks excess reserves.

However, as the article clearly shows, the GEJ Government was a very wasteful one.

3 Likes 2 Shares

Re: Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust by IBROHIM: 3:32pm On May 11, 2015
naija2dabone:
Dear Buhari,

Congratulation once again for your victory at the polls.

Now to the point of this letter: You have got 4 years to keep ALL your campaign promises and your time starts May 29 at 00hrs. Please note that we will not tolerate any form of excuses for non performance as nobody forced you to make those promises. We were told that you are a man of your words, so please in your own best interest, keep your words.

We are not asking for heaven on earth, no. We are simple asking that you deliver on YOUR promises:

4 refineries
40mw of electricity
Naira = dollars
N5,000 for unemployed
One year allowance for corp members
Free qualitative education
Fight against corruption, (not selective fight please)
and many more.

Please dont come asking for more time because we dont have the luxury of more time. Dont tell us to be patient, because if we wanted to be patient, Jonathan would have been our perfect man. Dont tell us past leader destroyed the economy because you were one of them. Just get to work and get us result. If you cant deliver, now is the time throw in the towel.

Be guided

Voter
You are a goat! You vote am?

8 Likes

(1) (2) (3) (4) (Reply)

Buhari Receives Umaro Sissco Embalo, Prime Minister Of Guinea Bissau (photos) / President Buhari Arrives Jordan Ahead Of Counter Terrorism Summit / 2019 Will Be The End Of Saraki’s Deceit In Kwara- Group

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 33
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.