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Nairaland Forum / Nairaland / General / Politics / CBN: Rising Debt Servicing Cost Can Impede Growth (9102 Views)
2022 Budget: Reps Fear Economy Collapse, Says Debt Servicing Too High / Debt Servicing Cost Rises To N2.9tn, Gulps 74% Of Revenue - FG / SEC: Nigeria’s Rising Debt Servicing Is An Economic Threat (2) (3) (4)
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by wunmi590(m): 4:58am On Nov 06, 2020 |
Zetty177x: ![]() |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by Nobody: 4:59am On Nov 06, 2020 |
Our CBN has now gone political with just rhetorics but no action. |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by seguno2: 5:00am On Nov 06, 2020 |
wunmi590: If you are given your own share after selling the country, how will you deal with common services, utilities, facilities and infrastructure maintenance? Something as basic as roads? Can you please explain how you will do that? |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by ecclize: 5:02am On Nov 06, 2020 |
seguno2: My brother from all indications our ruler are lazy thinker... I don't know why they keep going through the same process that has failed to work for the country... We just need a pragmatic leader and most of our problems will be solved... i just taya for this country. |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by Arabaincubus: 5:02am On Nov 06, 2020 |
Muhammadu Buhari and bad luck! 1 Like |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by seguno2: 5:03am On Nov 06, 2020 |
wunmi590: Please why do you think that this is a laughable matter, which necessitated the opening of 32 ![]() 1 Like |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by Donspicey: 5:05am On Nov 06, 2020 |
seguno2: Who are the "WE ![]() Oga dey scammed u.... You were looking for Change wen you had Transformation and Fresh Air...... Now look at how tinx hv gone so badddd..... Since 2003 dat he first contested under democratic govt i ve known dat Bubu have notin to offer Nigerians,,, All thanks to those dat repackaged him 2015.. 2 Likes 1 Share |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by seguno2: 5:05am On Nov 06, 2020 |
ecclize: Please what are you doing for the pragmatic leaderS to emerge and be in charge of your local, state and federal governments in the legislative and executive arms? What are you doing for the pragmatic leaderS to emerge and be in charge for nongovernmental bodies, including religious groups? 1 Like |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by ChimaAdeoye: 5:06am On Nov 06, 2020 |
I heard FG just concluded plans to borrow $2 billion dollars from Italy! What type of irresponsible government that will be borrowing everywhere from countries paying their Senators less than Nigerian Senators?
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Re: CBN: Rising Debt Servicing Cost Can Impede Growth by Nobody: 5:13am On Nov 06, 2020 |
The cost of governance has to be cut. Subsidies in the petroleum and power sector have to be cut as well...so that we can get in more investment and more jobs It's that simple. |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by naijadrivablog: 5:19am On Nov 06, 2020 |
Yet Buhari is still borrowing. |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by King44(m): 5:21am On Nov 06, 2020 |
Racoon:until the nation crashes totally nothing would be done concerning this. Bu will keep using future of this country to keep borrowing until there is nothing left. They would borrow 5 trillion for instance 1 trillion for projects 4 trillion for pocket infrastructure. Whoever raises alarm is an enemy of the state, no futuristic thinking nothing. Me I have kuku lost hope in this country but what is painful is that me and you are the ones servicing the debt either directly or indirectly through tax, value added tax etc I am waiting for some people to ban me and some paid agents/fake memebers to come here and claim that this country is progressing at the speed of a bullet under Buhari awon oloshi 2 Likes |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by ecclize: 5:26am On Nov 06, 2020 |
seguno2: My weariness comes from the fact that Nigerians don't learn... seems the electorate easily forget the four years suffering once Naira changes hand during elections. Going by the emergency of some candidate in recent election... i can't but think Nigeria is irredeemable. The system has been so set up in such a way that corruption has been institutionalised... imagine Sanwo saying in the other thread that he hasn't bought an official car for himself or any of his family members... The day i see Nigerians dishing APC, PDP and their ilks during elections. is the day i will cast my first vote as a Nigerian. bros we never serious... don't be surprise Tinubu might win 2023... na here we go dey 1 Like |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by Chibuchris: 5:39am On Nov 06, 2020 |
This country is run under pyramid scheme. When it will collapse na we average Nigerians go suffer am. The earlier we wake up the better. Sachet tomatoes 150 2 bulb of onions 300 Garri. a paint. 1000. E go soon shock us 2021. Hunger no sabi tribe, religion the earlier we wake up the better. Well Las Las hunger will definitely be what will unit the masses. |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by bbode1(m): 5:40am On Nov 06, 2020 |
There is no reason why the Nigerian government can not look inward on capital development. I mean, the reason for borrowing is for development of agriculture and other infrastructure abi. Then use local contractors that can collect naira from u not dollars that foreign contaparts collect. The truth is that it is the Nigerian government that are lazy. They don't want and inward development of our local manufacturers. because when this dollars are borrowed. They can be easily stolen. A country that keeps borrowing will kip having a steady rise in inflation. That's why goods and services keep increasing in cost. And another option for the govt is this, since they are lazy to develop local manufacturers, the govt should use our crude oil as an exchange for money. I mean if you want to borrow me money, let me use my crude oil to pay u back. Not giving u back the same cash. All this can be done. But they won't do it. Reason is because dollars is easily stolen. Sorry for the errors 1 Like |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by baby124: 5:40am On Nov 06, 2020 |
You all who stole the debt will pay it back. You are all joking. |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by 9gerian: 5:41am On Nov 06, 2020 |
But most Nigerians know and have been emphasizing this, except of course PMB and his retinue of ministers and politicians that are running the government ![]() We are seeing the results everywhere... Racoon: |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by Tumbulum: 5:43am On Nov 06, 2020 |
The aboki president is running the country like a pyramid scheme |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by Realdeals(m): 5:47am On Nov 06, 2020 |
Na now CBN just dey wake up? What Buhari has been is to borrow for consumption, that is never sustainable. |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by Lorgat46: 5:47am On Nov 06, 2020 |
When you have bad leader what do you expect |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by email07: 5:56am On Nov 06, 2020 |
Kukuruukuuu, good morning |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by IdJack(m): 6:05am On Nov 06, 2020 |
Their eyes go soon clear.. Let them keep borrowing. |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by nedekid: 6:06am On Nov 06, 2020 |
Racoon:Some people will come here and bash you or say you are pdp or ipob stating for a common sense, economic truth. The rate at which we are accumulating debt as if the solution for every problem or development is to borrow more instead of cutting our cloth to size. Very soon all our income will not be able to service our debt not to talk of paying them off! Then real poverty will show. Watch on YouTube how Peter obi(Untill he clears his name regarding akwuzu Sars he has a great stain) was able to cut cost of governance in Anambra. Ran a suplus instead of deficit. Check out how adesina in agric was able to cut cost by using technology (phones) to effectively cutout the middleman while ensuring farmers got their fertilizer, seed and other incentives etc. Nigeria in this critical time needs to be run more prudently, efficiently. 1 Like |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by SenecaTheYonger: 6:08am On Nov 06, 2020 |
Doesn’t the minister of finance know this? |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by Ramaa(m): 6:11am On Nov 06, 2020 |
Brainless leaders!!!.... |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by Sniper101(m): 6:14am On Nov 06, 2020 |
In 2020, a year when almost every Nation around the globe is struggling financially, the wisest plan the Nigerian Government could come up with is to go borrow money from Brazil, in other to service 2021 Budget. In 2021, they will still stretch their almajiri hands to borrow again, in other to properly service 2022 Budget. By 2022, the same almajiri hands will still stretch out to borrow much more, in other to fully service 2023 Budget, adequately finance 2023 elections and still have enough to fill their coffers while awaiting the 2023 elections By then, the Finance Minister and the CBN Governor at the time will even be begging PMB for their resignation letter to be accepted ![]() Godwin Emefiele should be calming down right now; for he has not seen anything yet. 1 Like |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by seguno2: 6:14am On Nov 06, 2020 |
ecclize: Are you not also a Nigerian, or which Nigerians are you waiting for and expecting to dish APC, PDP and their ilks during elections before you will cast your first vote? Does that show any seriousness on your part? How can you, being so terribly unserious, expect a serious government to work for you ![]() 1 Like |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by SUFFERInSMILIIN(m): 6:22am On Nov 06, 2020 |
Racoon: Illiteracy is Nigeria's problem. When you have a country the people are not progressive they do not produce anything only to consume the same thing with Nigerians in developed countries 1 Like |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by Nyanabo(m): 6:25am On Nov 06, 2020 |
Let them go ahead and borrow more. That is all the president know how to do best. How can you continue to borrow with dwindling revenue. most country borrow to finance capital expenditure but here we take loans to fund majorly recurrent expenditure and we say we want to go to the 'next level of change' well we are heading there but not the positive change they have in mind. Until the cost of governance is drastically reduced by 70% foreign travel limited by 80% and all polical office holders begin to use 'nigeria to grow the naira' like they audio sing everyday then we have started. How can you tell us to use nigeria whereas you use foreign products ![]() |
Re: CBN: Rising Debt Servicing Cost Can Impede Growth by MISSCONGENIALITY(f): 6:29am On Nov 06, 2020 |
BigSarah:You forgot to add that we borrow money to busy in caskets, we borrow money for snakes to swallow, we borrow money to store in plastic tanks and borrow to build projects that never get completed. We borrow to buying take care of Boko Haram. Buying weapons for them and sending them to study abroad. We might even need to borrow to feed cows now that grasses are drying up. |
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