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Nairaland Forum / Nairaland / General / Politics / Nigeria’s Debt Profile Among Lowest In The World — Osinbajo (10763 Views)
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Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by chimjoshjuan: 4:47am On Apr 02, 2019 |
Vice President Yemi Osinbajo who spoke at the 50th convocation of the University of Lagos in Akoka, disclosed that Nigeria’s debt profile is among the lowest in the world. Osibanjo who delivered UNILAG’s convocation lecture with the theme, “Nigeria Rising: The Path to Prosperity", said Nigeria's debt profile is among the lowest in the world when compared to the size of the economy. He further disclosed that Nigeria had stabilised at 11 per cent over the past six months. “We restored medium-term planning with the Economic Recovery and Growth Plan which served as a useful loadstone in improving macroeconomic performance, boosting the real sector of the economy and building infrastructure. The decline in growth, which started at the end of 2014, has been reversed, inflation has stabilised at about 11 per cent over the past six months and our current account was in surplus around 1.3 per cent of the Gross Domestic Product last year. “Our foreign reserves can cover at least six months of import of goods and services and despite understandable concerns, our debt burden is only about 22 per cent of the size of our economy, which is one of the lowest ratios in the world.“We have very clear objectives. As you know, the problem of our country is not the planning or designing of great projects, it is in the actual implementation. We are fortunate that Muhammadu Buhari is not an orator, he is a doer" he said. https://unclesuru.com/2019/04/02/nigerias-debt-profile-among-lowest-in-the-world-osinbajo/ 11 Likes 2 Shares
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Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by BOOOMNAIJA: 4:47am On Apr 02, 2019 |
LIE-LIE GOVERNMENT...... EVEN THEIR INFORMATION MINISTER IS A LIE MOHAMEDDAN.....RUBBISH. 24 Likes 3 Shares
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Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by okosodo: 4:54am On Apr 02, 2019 |
In other words , una never see anything yet 20 Likes |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by Harrymig1(m): 4:55am On Apr 02, 2019 |
Does low debt translate into a working and good economy? 37 Likes 2 Shares |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by porka: 5:02am On Apr 02, 2019 |
GDP does not repay government loan, government revenue does. What is the percentage of debt to revenue? 47 Likes 1 Share |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by lawaljuliuss(m): 5:24am On Apr 02, 2019 |
really? |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by Anigreat: 5:25am On Apr 02, 2019 |
Osibanjo, can you just shut up for once and stop embarrassing RCCG for once. You lie too much . 10 Likes |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by GavelSlam: 5:33am On Apr 02, 2019 |
porka: GDP means taxable income which can drive government revenue. 9 Likes |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by anonimi: 5:54am On Apr 02, 2019 |
porka: Good question. Just like assets do not pay off liabilities on their own but the income/profit generated from whatever the assets produce. Education is what creates a skilled population that can work the infrastructure to create government revenue. This administration has done nothing for education making poverty prospects worse into the future. 23 Likes |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by ojun50(m): 6:18am On Apr 02, 2019 |
Another information vp minister and commisional for lies 4 Likes |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by yemmight(m): 7:17am On Apr 02, 2019 |
I am not sure our VP has access to figures from the ministry of Finance. 7 Likes |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by Nobody: 8:20am On Apr 02, 2019 |
GavelSlam: So where is your taxable income from GDP when you have 23% of working population unemployment and 89m destitute poor, along side a growing population without a guaranteed average future... 8 Likes |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by GavelSlam: 8:22am On Apr 02, 2019 |
Esseite: You get from the same GDP you speak of. Have you got a solution or is it all about criticism? 4 Likes |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by Nobody: 8:23am On Apr 02, 2019 |
GavelSlam: You should not uphold wrong statements knowing very well deep down we are in a serious case. The solution is enacting a policy to guide birthrate, if we cant afford to build infrastructures enough for all, then a better solution is having the ones available enough for all. 7 Likes |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by GavelSlam: 8:26am On Apr 02, 2019 |
Esseite: Let me guess, once such a policy is enacted you would criticise it as you do all government policies. None is ever reasonable for you. 9 Likes 1 Share |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by bishopkay: 8:38am On Apr 02, 2019 |
This man seems to have taken over the job of Lai. Where the fvck is Lai? 4 Likes |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by buhariguy(m): 8:43am On Apr 02, 2019 |
Harrymig1:NO. because US debt is 110% of their GDP. 6 Likes 1 Share |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by Nobody: 8:48am On Apr 02, 2019 |
GavelSlam: Who in his right senses seeing where we are would criticize such policies, only those with a bias religious view would go against it. 5 Likes 1 Share |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by Harrymig1(m): 8:50am On Apr 02, 2019 |
buhariguy:Thanks Jare 2 Likes 1 Share |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by MrThisandthat(m): 9:40am On Apr 02, 2019 |
This man has made me laugh this year more than any comedian in the world 2 Likes
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Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by Nobody: 9:43am On Apr 02, 2019 |
This man again. 1 Like |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by Nigeriabiafra80: 9:46am On Apr 02, 2019 |
Hmm, I thought pdp |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by CodeTemplar: 9:48am On Apr 02, 2019 |
This man and twisting of data interpretation. When PDP was there and APC was trying to come in, they said we are heavily indebted and now after four years of just regular loan repayment which by the way PDP was doing, they say the debt level is one of the lowest. These people have no plans to improve this country but just a vote buying. 7 Likes 1 Share |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by dollarsplenty(m): 9:53am On Apr 02, 2019 |
How did he arrive at that? Where I live, the jobs of the cooks are being done by politicians and their families. They give these pupil only rice and beans everyday. These are parts of cows, eggs and other statistics being ditched out by VP. The home grown school feeding program is good program but poorly and corruptly managed. 3 Likes |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by AngelicBeing: 9:54am On Apr 02, 2019 |
anonimi:Gbam, headquarters of poverty in the world + 6th most miserable country in the world = Nigeria 3 Likes |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by grandstar(m): 9:58am On Apr 02, 2019 |
It's not as simple as he talks First, as at 2014, the debt was 12% of GDP and it's now 22%. That means it's rising fast. By 2023, it may hit 30% of GDP. Also, borrowing cost is over 10%. In the EU, it is barely 2%. Borrowing cost is therefore high. Also, a lot of those investing in bonds are foreign institutional investors. These portfolio investor can and will convert their holdings back to dollars and exit the country if they are spooked. This destabilizing outflow will lead to the Naira crashing unless the CBN is ready to defend the Naira but it will be very costly and drain the foreign reserves. Also, servicing the debts already consume over 60% of the budget. This is unsustainable. 5 Likes |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by BruncleZuma: 9:58am On Apr 02, 2019 |
Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by akinbode1(m): 10:01am On Apr 02, 2019 |
Yeye pastor full of lies!!! 1 Like 1 Share
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Re: Nigeria’s Debt Profile Among Lowest In The World — Osinbajo by dantajay: 10:04am On Apr 02, 2019 |
I miss lia Muhammad... 1 Like |
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