Femi Asu

The nation’s total public debt rose by N3.32trn in one year to N25.7trn as at the end of June 2019, the Debt Management Office said on Tuesday.

The Federal Government owed N20.42trn as of June 30, 2019, while the 36 states and the Federal Capital Territory had a total debt portfolio of N5.28trn.

The debt stock is made up of N8.32trn ($27.16bn) external debt and N17.38trn borrowed domestically, according to the DMO.

The nation’s public debt, which stood at N22.38trn as of June 2018, increased to N24.39trn in December 2018 and N24.95trn in March 2019.

The Monetary Policy Committee of the Central Bank of Nigeria noted last month that the rising public debt was one of the headwinds to the nation’s growth prospects.

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said in August that the country did not have any debt challenge but a challenge with generating sufficient revenue.

“There is a lot of insensitivity around the level of our debt. I want to restate that our debt is not too high; what we have is a revenue problem. Our debt is still very much within a reasonable fiscal limit. In fact, amongst our comparative countries, we are the least in terms of borrowing,” she had said.

https://punchng.com/breaking-nigerias-debt-hits-n25-7trn-rises-by-n3-3trn-in-one-year/

Buhari is a disaster

I just don't understand which sector or where exactly these borrowed monies are been diverted to, what is Buhari spending money on

Nigeria

All these debts and yet no development in any sector.. Infact everything is going backwards.
By the time this govt is through ehn..

..



Our debt to GDP is very fine, Our debt to Revenue is quite fine, all developed countries borrowed thier way to progress

Yes nigeria borrowed to complete Abuja-Kaduna rail, however its annual turnover and profit after expenditure is in the range of several billions

Our Infrastructural deficit stands at atleast $50 - $100 billion USD, if lagos to Kano rail cost $5.6billion, and Lagos - Calabar cost withing that range, rail alone needs 20 billion, while power needs $10bn, and roads, Ajaokuta steel plant and other project needs $30billion, 2.3 bpd crude oil sales with IOC taking 40% wont give us revenue fast enough to develop when our population growth is 3%

To the Dunce qouting me, why not suggest another financial plan for FG outside borowing, since our revenue is constant at 2.3mbpd crude oil sales we share with oil companies and our Population growth is 3% yearly

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Who case don't care to read the write up there
Hit like

I don't care to read the full details, just the topic am satisfied.

Before 2023 Nigerians will be surprise how much debt Nigeria will owe

Mheen! We are not supposed to borrow a dime in buhari tenure with the way they were clamoring on the Anti corruption thingy and how much they have recovered and increment in tax generated. Is it that this government is a bad management or those news are fake news or what? Not just getting it.

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And yet, Buhari keeps blaming PDP.

Ok

By the time Buhari finishes with Nigeria, the economy of Zimbabwe will be better than this country's

Senate should please invite Nigeria's President Mamman Daura to come and explain how it got to this level asap!!

If President Mamman Daura fails to turn up or the official VP Abba Kyari, they should not allow the academic VP Professor Osinbajo to come blow his usual lies to deceive Nigerians, or they should start impeachment process as being done in US right now against President Trump

I thought obasanjo renegotiate this debt with Paris club how come it jump back again

Change we voted for.

*For nysc posting or redeployment to any state of your choice....hit me up*

Hmmm

Let's blame the previous administration

Tphal12:


Change we voted for.

*For nysc posting or redeployment to any state of your choice....hit me up*

Your number

Ecstasy154:
Femi Asu

The nation’s total public debt rose by N3.32trn in one year to N25.7trn as at the end of June 2019, the Debt Management Office said on Tuesday.

The Federal Government owed N20.42trn as of June 30, 2019, while the 36 states and the Federal Capital Territory had a total debt portfolio of N5.28trn.

The debt stock is made up of N8.32trn ($27.16bn) external debt and N17.38trn borrowed domestically, according to the DMO.

The nation’s public debt, which stood at N22.38trn as of June 2018, increased to N24.39trn in December 2018 and N24.95trn in March 2019.

The Monetary Policy Committee of the Central Bank of Nigeria noted last month that the rising public debt was one of the headwinds to the nation’s growth prospects.

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said in August that the country did not have any debt challenge but a challenge with generating sufficient revenue.

“There is a lot of insensitivity around the level of our debt. I want to restate that our debt is not too high; what we have is a revenue problem. Our debt is still very much within a reasonable fiscal limit. In fact, amongst our comparative countries, we are the least in terms of borrowing,” she had said.

https://punchng.com/breaking-nigerias-debt-hits-n25-7trn-rises-by-n3-3trn-in-one-year/

So there is a borrowing competition and Nigeria is coming last?? Madam pls ensure you borrow more so we come first.

Naija no dey carry last!!!

Welldone buhari and apc supporters

Obasanjo erased our military era debts with Ngozi's help

Other presidents kept it under check.

Nigerian budget was 4trillion under Jonah. This Ali Baba Buhari and his 40 thieves are borrowing an entire budget in one year.

Dumb Government.....zero innovation, zero economic plan, zero good initiative.... All the things in their rotten head are "borrow, borrow, more borrow, borrow some more, then tax, tax, tax some more" and defend their cluelessness.

Time is long gone when we had direction as a country, when we dared to have a vision.....captains of industries planned based on the visions of the federal government, mapping out ways to key in developmental projects in line with the government direction.

Today, we have a federal government with zero plan, zero focus ..just tax tax and borrow

She is saying our debt is high but not too high. It is within a REASONABLE fiscal limit. Godfathers and godsons, do what you do best.

These young men below tryna compete with meh!

Revenues has increase lies does not hold water.Customs have raked in billions all nah wash.Reality is clearer now.Next level of chronic financial indebtedness.APC have mortgage Nigeria but NASS will sit idle & watch.

Even the zombies of this oppressive government should know that the end has come by now.I laugh in next level.

We are in trouble

To think only a greedy few are looting this money makes it worse

Yet we recover money through EFCC, we pay higher VAT, bank charges of #65, Removal of subsidy...

Thank God wailers are the ones that is borrowing this money.

Nigeria is going going..........

PDP got Nigeria out of debt!!!


APC is plunging Nigeria back into debt!!!

Nigeria is going going going ........

Zombies over to u

Them sai BaBa above me �

Tphal12:


Change we voted for.

*For nysc posting or redeployment to any state of your choice....hit me up*

Fraud