Patchesagain:


We can afford our debt

You cannot

That is why

Also, we havent had to declare bankruptsy or cut government wages by 50%

Nigeria did not cut government workers/civil servants wages by 50% or else you will see nation wide strikes by labour union.

Buhari and his political class are the ones who voluntarily cut their own huge wages by 50%, same thing happened this year in Canada, the world is doing it, not only Nigeria.

Nigerian law requires bankruptcy to be declared by the Accountant General of the federation, not the president. World Bank just offered us $2.1 billion new loan today just to build houses for people, nobody offers a normal term loan for building houses to a bankrupt borrower.

You know nothing about finance and accounting....mumu.

Then South Africa CANNOT afford her debt, you actually sank deep in it and accepted your fate, so nobody is complaining.

South Africa owes external debt of $144 billion and has cash reserve of $40 billion....you have a deficit of $104 billion more than your pocket !

Nigeria has external debt of $7 billion and cash reserves of $30 billion....we can pay off our debt in one day and still have $23 billion saved in out pockets.

If South Africa spends all her cash reserve to pay off her debt, you will still be owing $104 billion....your great grand children will keep paying debt for the next ten generations of children yet unborn

You are broker than broke ! $144 billion debt you owe the white nations !

http://www.tradingeconomics.com/south-africa/external-debt
.

agaugust:


Nope, Nigeria has NOT yet taken the loan. It needs Senate approval, Nigerian law does not allow the president to unilaterally borrow that much.

World Bank pledged the loan, but Nigeria has NOT accepted the money or accessed the funds. We do NOT owe them as at today, senate can disapprove it.

"By Julia Payne

ABUJA, July 21 (Reuters) - Nigeria's presidency said on Tuesday the World Bank had pledged to spend up to $2.1 billion to rebuild the northeast of the country that has been devastated by Boko Haram militants.

President Muhammadu Buhari met with representatives of the World Bank, the Bill and Melinda Gates Foundation, and the World Health Organization during a trip to Washington.

A World Bank spokeswoman said that during the meeting, the bank said the sum of $2.1 billion could be lent to Nigeria from its development agency and that support could also come from the International Bank for Reconstruction and Development."

http://af.reuters.com/article/nigeriaNews/idAFL5N1013XY20150721

The bolded parts tell you we have NOT taken the offer, they offered us, we did not ask for it.

Today, we owe only $7 billion external debt
.

our external debt is now $9b but mzilaka won't listen to your explanation...

ddami:
our external debt is now $9b but mzilaka won't listen to your explanation...

Soon to be a BRICS bank debtor. There's no other way. A country that borrows to pay government salaries and relies on oil sales for 80% of its forex is doomed. You are doomed and that's that.

http://ewn.co.za/media/2015/07/22/nigeria-economy-running-out-of-money

agaugust:


Nigeria did not cut government workers/civil servants wages by 50% or else you will see nation wide strikes by labour union.

Buhari and his political class are the ones who voluntarily cut their own huge wages by 50%, same thing happened this year in Canada, the world is doing it, not only Nigeria.

Nigerian law requires bankruptcy to be declared by the Accountant General of the federation, not the president. World Bank just offered us $2.1 billion new loan today just to build houses for people, nobody offers a normal term loan for building houses to a bankrupt borrower.

You know nothing about finance and accounting....mumu.

Then South Africa CANNOT afford her debt, you actually sank deep in it and accepted your fate, so nobody is complaining.

South Africa owes external debt of $144 billion and has cash reserve of $40 billion....you have a deficit of $104 billion more than your pocket !

Nigeria has external debt of $7 billion and cash reserves of $30 billion....we can pay off our debt in one day and still have $23 billion saved in out pockets.

If South Africa spends all her cash reserve to pay off her debt, you will still be owing $104 billion....your great grand children will keep paying debt for the next ten generations of children yet unborn

You are broker than broke ! $144 billion debt you owe the white nations !

http://www.tradingeconomics.com/south-africa/external-debt
.

Yes, the government did not cut salaries by 50%. It simply stopped paying them. A cut of 100% for the affected workers.

DieVluit:


Soon to be a BRICS bank debtor. There's no other way. A country that borrows to pay government salaries and relies on oil sales for 80% of its forex is doomed. You are doomed and that's that.

http://ewn.co.za/media/2015/07/22/nigeria-economy-running-out-of-money

WTF IS BRICS,,have we ever borrowed from brics?? OIL- HERE IN NIGERIA WE ARE TALKING ABOUT DIVERSIFICATION starting from mining other mineral resources, agriculture down to tourism,,,,

Besides what's your business if we are borrowing or not...You should concentrate on your country's economic problems and stop having headache on Nigeria's own... You have NOTHING NEW to say here 'cos the thread has been about +2000 pages of REPETITIVE SHIIT..

Patchesagain:


As a % of GDP we are no where near the most indebted in Africa

As a % of Government Revenue the same applies

wrong, here. http://www.africaranking.com/top-20-most-indebted-african-countries/

DieVluit:


Yes, the government did not cut salaries by 50%. It simply stopped paying them. A cut of 100% for the affected workers.

Die, stop typing things you know nothing about,, this is Nigeria and we know what is happening here... Stop typing like you live here 'cos you're hrs/miles away...,,, The closest u can know of Nigeria is online..,,,
All of you are just contradicting yourselves,, so much attention to Nigeria's problems,,, ADVICE:: go and sort out your external debt,, that definitely needs your attention..

DieVluit:


Yes, the government did not cut salaries by 50%. It simply stopped paying them. A cut of 100% for the affected workers.

LOL....they all being paid this month, all arrears paid....Buhari released new government income form dividend/shares and VAT tax revenue.

Delay is not denial as wise men say.

Seems old newspapers' stories get super-glued to your tiny brain

South Africa will need 10 generations of your parents descendants to pay off African record $144 billion debt
.

ssaengine:


I see you ran away like a little b*tch.

You made up "10 to 20 hours" claiming that the rest are used at airshows and ceremonies.
That means YOU are saying SAAF Gripen pilots fly "13 to 23 hours" a year at airshows and ceremonies. Show us the link which says that.
You are making sh*t up and its not even funny any more. Just ruining the topic.

Useless human being.

Useless human beings are SAAF pilots who are not combat qualified, useless for war.

Gripen fleet flies 200 hours a year....6 pilots.

1. Yearly SAAF anniversary ceremony air shows, estimate : 4 days rehearsal + 1 day ceremony day, 5 hours per jet x 6 Gripens = 30 hours
2. Yearly National day anniversary ceremonial flights same as above : 30 hours
3. Funeral ceremonies for VIP, or wasted hours flying to Zambia/Congo for shadow boxing with Seleka rebels by parking Gripens at Congolese airport doing nothing, round trip flight estimate : 30 hours
4. Other wastes of hours not mentioned above.
5. Losses of hours due to aviation fuel shortages not included above.

200 - 90 = 110 hours estimate.

110 divided by 6 pilots = 18 hours per pilot.

SAAF Gripen pilots fly between 10 to 20 hours a year . PROVED

Angolan Su-30 jets will R.ape SAAF and SANDF till your nation bleeds into coma and begs for mercy from Angolan people
.

DieVluit:


Soon to be a BRICS bank debtor. There's no other way. A country that borrows to pay government salaries and relies on oil sales for 80% of its forex is doomed. You are doomed and that's that.

http://ewn.co.za/media/2015/07/22/nigeria-economy-running-out-of-money

Stop mentioning BRICS bank money. We know your education never went beyond Google copy and paste. BRICS is dead , as dead as last Christmas.

The credit money in the BRICS banks can't even feed khayelitsha's rats. Hence China and the world is heading towards the China infrastructural development Bank and the West is struggling to be foundation members much to America's chagrin . Australia has pledged 89 billion and she is still only just the 5th biggest founding member .

Now tell us how much does the China jettisoned BRICS bank have.

South African militia force ran away from Congo last year.

agaugust:


Useless human beings are SAAF pilots who are not combat qualified, useless for war.

Gripen fleet flies 200 hours a year....6 pilots.

1. Yearly SAAF anniversary ceremony air shows, estimate : 4 days rehearsal + 1 day ceremony day, 5 hours per jet x 6 Gripens = 30 hours
2. Yearly National day anniversary ceremonial flights same as above : 30 hours
3. Funeral ceremonies for VIP, or wasted hours flying to Zambia/Congo for shadow boxing with Seleka rebels by parking Gripens at Congolese airport doing nothing, round trip flight estimate : 30 hours
4. Other wastes of hours not mentioned above.
5. Losses of hours due to aviation fuel shortages not included above.

200 - 90 = 110 hours estimate.

110 divided by 6 pilots = 18 hours per pilot.

SAAF Gripen pilots fly between 10 to 20 hours a year . PROVED

Angolan Su-30 jets will R.ape SAAF and SANDF till your nation bleeds into coma and begs for mercy from Angolan people
.

Oh ok cool. So you've again gone and completely made stuff up, and created things from your imagination....e.g "yearly national day anniversary". It's cool if you want to turn this thread into a circus, you're a grown man, do as you please. Let me not waste any more of your time.

lionel4power:
South African militia force ran away from Congo last year.

If you have nothing to say then say nothing. You might as well have just told us your favourite flavour of icecream. That's how useful your post was.

Which "militia" force? When and where in Congo? Any links to articles? etc etc etc....basics to any debate

SAAF Oryx - Showing Off


https://www.youtube.com/watch?v=4DoI7Q4JMU8&feature=youtube_gdata_player

lezz:
Stop mentioning BRICS bank money. We know your education never went beyond Google copy and paste. BRICS is dead , as dead as last Christmas.

The credit money in the BRICS banks can't even feed khayelitsha's rats. Hence China and the world is heading towards the China infrastructural development Bank and the West is struggling to be foundation members much to America's chagrin . Australia has pledged 89 billion and she is still only just the 5th biggest founding member .

Now tell us how much does the China jettisoned BRICS bank have.

The BRICS recently launched a $100 Billion bank in beingjin,called the 'New Bank',which in truth is just another Chinese owned bank.
Naturally,the prospect of a BRICS Bank is just plain ridiculous,who is going to patronize such an unstable institution?.Even the Chinese AIIB may not really grow to challenge powerful international institutions such as IMF and WB,too many nations owe western institutions like IMF.

ddami:
Die, stop typing things you know nothing about,, this is Nigeria and we know what is happening here... Stop typing like you live here 'cos you're hrs/miles away...,,, The closest u can know of Nigeria is online..,,,
All of you are just contradicting yourselves,, so much attention to Nigeria's problems,,, ADVICE:: go and sort out your external debt,, that definitely needs your attention..

Oh wow! So much emotion and not even an iota of verifiable facts. Why don't you do me a favour and prove that I am wrong. Failing that, accept that Nigeria is poor and is destined to be a future BRICS beggar.

lezz:
Stop mentioning BRICS bank money. We know your education never went beyond Google copy and paste. BRICS is dead , as dead as last Christmas.

The credit money in the BRICS banks can't even feed khayelitsha's rats. Hence China and the world is heading towards the China infrastructural development Bank and the West is struggling to be foundation members much to America's chagrin . Australia has pledged 89 billion and she is still only just the 5th biggest founding member .

Now tell us how much does the China jettisoned BRICS bank have.

How much "credit money" is in the BRICS bank? 10 ZAR (not naira) says you don't know what you are talking about.

agaugust:


LOL....they all being paid this month, all arrears paid....Buhari released new government income form dividend/shares and VAT tax revenue.

Delay is not denial as wise men say.

Seems old newspapers' stories get super-glued to your tiny brain

South Africa will need 10 generations of your parents descendants to pay off African record $144 billion debt
.

Auguby stop lying. All Buhari did was say that this is a disgrace, which it is. But there is no money forthcoming. Buhari has no money to release. Not to government workers. Not to the military.

patches689:


You dont live in north america

Every time i ask for proof you run away

Is Korea an ANC prison yard?

Yes, North Korea is, that's where you are doing immigrant slave labour
.

DieVluit:


Soon to be a BRICS bank debtor. There's no other way. A country that borrows to pay government salaries and relies on oil sales for 80% of its forex is doomed. You are doomed and that's that.

http://ewn.co.za/media/2015/07/22/nigeria-economy-running-out-of-money

Nigeria did not borrow to pay salaries. States/provinces borrowed from Federal government that had income from shares/tax....show we where Nigeria as a nation borrowed to pay salaries. Federal govt bailed out the states, America and Canada do the same.

Nigeria gets forex from solid mineral exports not just oil.

South Africa too depends mainly on mineral export for forex and you are neck deep in debt of $144 Billion.

Nigerians living abroad send forex home up to $ 20 billion every year....that's a source of dollars called diaspora remittances
.

agaugust:


Nigeria did not borrow to pay salaries. States/provinces borrowed from Federal government that had income from shares/tax....show we where Nigeria as a nation borrowed to pay salaries. Federal govt bailed out the states, America and Canada do the same.

Nigeria gets forex from solid mineral exports not just oil.

South Africa too depends mainly on mineral export for forex and you are neck deep in debt of $144 Billion.

Nigerians living abroad send forex home up to $ 20 billion every year....that's a source of dollars called diaspora remittances
.

Federal government borrowed from central bank. Thank you.

DieVluit:


Oh wow! So much emotion and not even an iota of verifiable facts. Why don't you do me a favour and prove that I am wrong. Failing that, accept that Nigeria is poor is destined to be a future BRICS beggar.

DESTINED ahaha die,,, the verifiable fact is that Your dear bricks is not in our league of LENDERs,,,
Nigeria once cleared its debt in 2007,, When is your country DESTINED to pay its own huge debt..

Prove wrong-- this is a repeat, there are different pages here in which have tried to prove some posts wrong but you guyz never never listen to explanations except if u are diff...

Nigeria's crashing oil economy.

http://edition.cnn.com/2015/07/21/world/nigeria-oil-economy/

ssaengine:


If you have nothing to say then say nothing. You might as well have just told us your favourite flavour of icecream. That's how useful your post was.

Which "militia" force? When and where in Congo? Any links to articles? etc etc etc....basics to any debate

just wanted to fray some nerves and steer the thread back to its originally intended purpose.

Notwithstanding, sandf did actually hightailed it from congo few years back.

mzilakazi:


Federal government borrowed from central bank. Thank you.

DUDE FG BORROWED FROM CENTRAL BANK OF NIGERIA,,, ITS OUR FUC**NG MONEY..,,,CBN'S DUTY IS TO REGULATE NIGERIA'S MONETARY POLICIES..,,,

OR IS IT SOUTH AFRICA THAT OWNS THE MONEY IN CBN

lionel4power:
just wanted to fray some nerves and steer the thread back to its originally intended purpose.

Notwithstanding, sandf did actually hightailed it from congo few years back.

When?

agaugust:


Nigeria did not cut government workers/civil servants wages by 50% or else you will see nation wide strikes by labour union.

Buhari and his political class are the ones who voluntarily cut their own huge wages by 50%, same thing happened this year in Canada, the world is doing it, not only Nigeria.

Nigerian law requires bankruptcy to be declared by the Accountant General of the federation, not the president. World Bank just offered us $2.1 billion new loan today just to build houses for people, nobody offers a normal term loan for building houses to a bankrupt borrower.

You know nothing about finance and accounting....mumu.

Then South Africa CANNOT afford her debt, you actually sank deep in it and accepted your fate, so nobody is complaining.

South Africa owes external debt of $144 billion and has cash reserve of $40 billion....you have a deficit of $104 billion more than your pocket !

Nigeria has external debt of $7 billion and cash reserves of $30 billion....we can pay off our debt in one day and still have $23 billion saved in out pockets.

If South Africa spends all her cash reserve to pay off her debt, you will still be owing $104 billion....your great grand children will keep paying debt for the next ten generations of children yet unborn

You are broker than broke ! $144 billion debt you owe the white nations !

http://www.tradingeconomics.com/south-africa/external-debt
.

You can never deny that your country is on the brinks of collapse.

SA revenues is not $40 billion or else we would have never qualified to be offered a loan of $144 billion. dummy.


Correction: South Africa has total revenues of $ 120 billion and external debt of $70 billion.

Nigeria has a total debt of $63 billion.

http://www.premiumtimesng.com/news/top-news/183665-bulk-of-nigerias-63-billion-debt-incurred-by-apc-states-pdp.html


We spend $5 billion every month just on giving 16 million people grants.

Nigerian government borrows money to pay workers.

http://www.aljazeera.com/news/2015/05/150506055148505.html

mzilakazi:


You can never deny that your country is on the brinks of collapse.

SA revenues is not $40 billion or else we would have never qualified to be offered a loan of $144 billion. dummy.


Correction: South Africa has total revenues of $ 120 billion and external debt of $70 billion.

Nigeria has a total debt of $63 billion.

http://www.premiumtimesng.com/news/top-news/183665-bulk-of-nigerias-63-billion-debt-incurred-by-apc-states-pdp.html


We spend $5 billion every month just on giving 16 million people grants.

You pay grants to lazy black men who refuse to work, adult parasites of able bodied men in the laziest country in Africa

Nigeria's debt figure is not $63 billion, you figure is from a political party PDP, mumu, national debt is obtained from government finance ministry or central/national bank.....fool, you always get lectures from the wrong people.

Nigeria's federal ministry of finance says Nigeria's current external debt is $6.67 billion or about $7 billion.

http://www.fmf.gov.ng/the-media/speeches/127-clarifying-nigerias-debt-position.html

South Africa's external debt is $ 144 billion confirmed by your own government's national bank as at today 2015

https://www.resbank.co.za/Lists/News%20and%20Publications/Attachments/6791/Gross%20External%20Debt%20%20%E2%80%93%201st%20Quarter%202015.pdf

South Africa is biggest debtor in Africa....you set a new record....keep giving cash handouts to lazy Zulu men while your country drowns in debt
.

mzilakazi:
Nigeria's crashing oil economy.


http://edition.cnn.com/2015/07/21/world/nigeria-oil-economy/

The whole world of oil and gas economies are in the same boat like Nigeria, Saudi Arabia, Norway, Canada, Russia, and many others are in it.

If Nigeria is crashing, then the world too is crashing

mzilakazi:
Nigerian government borrows money to pay workers.


http://www.aljazeera.com/news/2015/05/150506055148505.html

Aljazeera's half illiterate journalist is smarter than you

Nigerian government sources the money from Nigerian revenue, not from outside. We are lending federal money to states. Mother feeding her children....get it? Mumu, It's done all over the world, a federal government is custodian of national wealth and can help state governments.

"Opening up on the assistance to be rendered to the states, a source in the presidency said the president approved a three-pronged relief package that would end the workers’ plight nationwide.

He said this entails: The sharing of about $2.1 billion (N413.7bn) in fresh allocation between the states and the federal government.
“The money is sourced from recent NLNG (Nigeria Liquefied Natural Gas) proceeds to the Federation Account, and its release was okayed by the president,” the presidency official explained.

The second measure, he said, is a Central Bank of Nigeria (CBN)-packaged special intervention fund that would offer financing to the states, ranging from between N250 billion and N300 billion."

http://www.thisdaylive.com/articles/buhari-okays-n413-7bn-bailout-for-fg-states/214095/

South Africa will die inside debt of $144 billion, you will never be able to repay, it's modern day slavery, RSA is slave to EU again !
.

agaugust:


You pay grants to lazy black men who refuse to work, adult parasites of able bodied men in the laziest country in Africa

Nigeria's debt figure is not $63 billion, you figure is from a political party PDP, mumu, national debt is obtained from government finance ministry or central/national bank.....fool, you always get lectures from the wrong people.

Nigeria's federal ministry of finance says Nigeria's current external debt is $6.67 billion or about $7 billion.

http://www.fmf.gov.ng/the-media/speeches/127-clarifying-nigerias-debt-position.html

South Africa's external debt is $ 144 billion confirmed by your own government's national bank as at today 2015

https://www.resbank.co.za/Lists/News%20and%20Publications/Attachments/6791/Gross%20External%20Debt%20%20%E2%80%93%201st%20Quarter%202015.pdf

South Africa is biggest debtor in Africa....you set a new record....keep giving cash handouts to lazy Zulu men while your country drowns in debt
.

We can affors our debt

You cannot

Economics 101