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Nairaland Forum / Nairaland / General / Politics / Moody’s Changes Nigeria’s Ratings From Stable To Negative (1204 Views)
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Moody’s Changes Nigeria’s Ratings From Stable To Negative by Islie: 8:43am On Dec 05, 2019 |
•Affirms ‘B2’ ranking •Says Nigerian banks’ reducing NPLs lowers capital erosion risk Obinna Chima https://www.thisdaylive.com/index.php/2019/12/05/moodys-changes-nigerias-ratings-from-stable-to-negative/ Lalasticlala |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by izzou(m): 8:48am On Dec 05, 2019 |
I read this thread thrice, and I still don't understand what they are saying. Kindly quote with and explanation if you understand. I don't want to type "Buhari has finished us" for no reason |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by Stalwert: 8:54am On Dec 05, 2019 |
Government reforms in the banking sector is taking hold and stabilizing it. FG needs to consolidate on income generation by further improving tax collections rate our GDP to Tax ratio remains low. There are many productive ventures and people but few tax payers. 1 Like |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by ursullalinda(f): 8:58am On Dec 05, 2019 |
Yet some people want me to believe our economy has improved alot.....and Bubu is our saviour......God help us in this next level. 1 Like |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by ZombieTERROR: 8:58am On Dec 05, 2019 |
izzou: Buhari has finished the country Every rating is negative... There is nothing positive about the country since he took over.. Job losses... Food prices skyrockets... Suicide capital of the world... Poverty capital of the world... Insecurity everywhere... Buhari is a punishment to the nation 4 Likes |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by izzou(m): 9:00am On Dec 05, 2019 |
ZombieTERROR: At least, explain the thread for me naa Na knowledge I come find |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by CSTR2: 9:00am On Dec 05, 2019 |
Moghalu said this before. Monetary policy does not drive the economic policy like the CBN has been doing. It is economic policy that drives monetary policy. There is nothing much the CBN can do if the FG does not create a suitable manufacturing base. |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by ZombieTERROR: 9:02am On Dec 05, 2019 |
izzou: You need me to explain a negative rating for you? |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by pocohantas(f): 9:13am On Dec 05, 2019 |
izzou: Credit rating determines your ability to pay back debts (simply put). Investors use it all the time. Just imagine giving loan to a business that isn't generating (enough) income? (Moody's) Starts from Aaa and slides to a C, with C being the lowest. B somewhere in the middle and B2 in the lower middle. So, currently, your dearest Nigeria is on B2 (High risk) and they can easily slide to a B3 and ultimately a C (variant). We do not have much oil to sell anymore. Only an increase in our non-oil revenue can help us escape impending doom. At least we now know why baba wants to kill us with tax. Money must be made to finance capital projects, so that we can stop borrowing upandan. 4 Likes
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Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by izzou(m): 9:15am On Dec 05, 2019 |
pocohantas: Thank you So I can confidently say "Buhari is about to fail us" |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by leokid866: 9:15am On Dec 05, 2019 |
ursullalinda: You obviously have no idea how an economy works or is rated so please Sit down.... |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by izzou(m): 9:16am On Dec 05, 2019 |
ZombieTERROR: Negative rating of?? How did it turn out to be negative? How can it return to positive? Why are you like this? |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by pocohantas(f): 9:18am On Dec 05, 2019 |
izzou: 1 Like 1 Share
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Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by mrvitalis(m): 9:23am On Dec 05, 2019 |
Buhari economic policy has been largely protectionist and socialist With accountants both CBN and finance minister I never really expected much ... Forcing us into rice production cost us close to lose 4000 dollars per hectare ,a crop we are presently comparatively disadvantages Ask your if u are an investor would u invest in Nigeria ...when u have Ethiopia offering everything we have to offer and more |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by Stalwert: 9:45am On Dec 05, 2019 |
pocohantas: But sir, only a fool will not know government had a cash flow problem, because Nigerians don't pay tax especially the rich. If you want to enjoy infrastructure we must sadly be ready to pay for it. Even when Jonathan was in power he borrowed to pay salaries... The truth is we are not ready to pay for development. 1 Like |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by Stalwert: 9:53am On Dec 05, 2019 |
mrvitalis: Nairaland errconomists, Agriculture is it advantage most of the rural population is into farming and most of the rural population actually consume local rice before now. How rice became a disadvantage in a country that has always produced rice is just another smugglers themed logic by wannabe errconomists |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by pocohantas(f): 10:10am On Dec 05, 2019 |
Stalwert: You are right, I agree we have to pay for development, but we are not even seeing anything on ground. I bet if there was power, good roads and enabling environment for life and business- every sane human would be okay with paying. This problem is more than Buhari tbh. Maybe he worsened it, but the system has never been in place. 2 Likes |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by Stalwert: 10:17am On Dec 05, 2019 |
pocohantas: Yes because much in ground but there is a silver lining. Snlince PMB came FG no longer borrow to pay salaries it and it introduced a very successful social program that has seen more Nigerians get loans, job and income to the very poor. Money borrowed is now used to fund strictly capital projects. There remains many problems in government and how it is run but with consistency and a little faith in government only then will people be willing to pay tax. My problem remains the shameless and idiotic elites who get the most benefit from the country who serially compare us to developed countries when people actually pay taxes and VATs as high as 30% but still steal electricity, refuse to pay tax and even custom duties. They seem hell bent on sabotaging the same country that they looted . 1 Like |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by mrvitalis(m): 10:49am On Dec 05, 2019 |
Stalwert:What's the monetary value of the output of one hectare of rice What's the total output for casava do the maths then u would see ..if you are smart enough |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by helinues: 10:53am On Dec 05, 2019 |
Afi moody na |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by Amucha: 11:04am On Dec 05, 2019 |
Stalwert: How can you collect more taxee when companies are closing down, increased retrenchment and unemployment, border closure and increased emigration? |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by Iamgrey5(m): 11:10am On Dec 05, 2019 |
ZombieTERROR:No, Moodys think Nigeria debt profile is increasing without a considerable increase in government's revenue. They also think the economy is not growing significantly. Hence, they down grade our credit ratings. |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by Iamgrey5(m): 11:16am On Dec 05, 2019 |
izzou:Government needs to improve revenue to assure creditors it can pay his loans It's kind of cycle of under development world bank and IMF trap developing countries. 1) devalue your currency 2) cut public spending 3) Privatise profitable public institutions 4) increase government revenue by increasing taxes 5) Further increase poverty while investors (creditors) in the first world smile to the bank. 6) After years of suffering, Rating agencies increase your credit ratings to B+ pending when you borrow more money. 2 Likes |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by Stalwert: 11:18am On Dec 05, 2019 |
mrvitalis: Is that all? Empty block headed logic. Oil makes tons of money, let all Nigerians run into oil production. The smugglers errconomists logic will never make no sense, it does not believe in growth nor does it believe in diversification. All it appeals to is making Nigeria unworkable. That remains unacceptable. |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by Stalwert: 11:20am On Dec 05, 2019 |
Iamgrey5: They are undermining our capacity to borrow, they want to make borrowing more costly for Nigeria. But sai Baba will not be hindered, he has continue to defy their foolish advise that causes Agentinas economy to tank and Egypt to make a u turn from completely floating their currency. |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by Iamgrey5(m): 11:26am On Dec 05, 2019 |
Stalwert:I don't think Buhari can continue defy them. Although China offers an alternative to the Bretton woods institutions of IMF and World bank. China itself cannot be trusted. 1 Like 1 Share |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by pocohantas(f): 11:27am On Dec 05, 2019 |
Iamgrey5, where have you been? |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by Stalwert: 11:28am On Dec 05, 2019 |
Amucha: First there are many thriving companies who still dodge taxes and new employment is being created. How does border closure affects tax collections? It smugglers that refuse to pay tax in the form of import duty that the suffer, they were never going to pay tax. Increased emigration I didn't know half of Nigeria have left even Americans emigrate to other countries, big deal. 1 Like |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by Iamgrey5(m): 11:28am On Dec 05, 2019 |
Re: Moody’s Changes Nigeria’s Ratings From Stable To Negative by Stalwert: 11:29am On Dec 05, 2019 |
Iamgrey5: None of them can be trusted, but at least China will not tell you to cease feeding the poor just to get a loan from them. Their rates and penalties aren't as bad as theirs. But we truly need to rapidly diversify our economy to avoid being subjects of foreign lords. 1 Like |
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