NewStats: 3,262,359 , 8,176,919 topics. Date: Sunday, 01 June 2025 at 11:30 PM 6i4a50

lereinter:


$20bn is saved

So why the borrowing again

Clown 🤡

I never said $20 billion had been saved; I said $20 billion was wasted on fuel subsidies, and that money came from borrowing. That's why the external debt under Buhari went from $10 to $47 billion, and the country's internal debt grew by an additional N37Trillion (Ways and Means)

Nigeria's NNPC spent $10 billion on fuel subsidy in 2022
By Camillus Eboh
January 20, 20236:26 PM GMTUpdated 2 years ago

https://www.reuters.com/business/energy/nigerias-nnpc-spent-10-billion-fuel-subsidy-2022-2023-01-20/


Nigeria was spending $1.5 billion monthly to defend the Naira before Tinubu’s FX reforms – Presidency
Cyrus Ademola by Cyrus Ademola 7 months agoin Currencies, Markets

https://nairametrics.com/2024/06/17/nigeria-was-spending-1-5-billion-monthly-to-defend-the-naira-before-tinubus-fx-reforms-presidency/

Funflipper:


Common sense tells me that when the docile northern governors wake up and start being productive, the problems you mentioned will all be resolved which is what the tax reform bill is all about. Now tell me. how does maintaining the status quo solve the problem that was created by the system in the first place? Isn't that doing the same thing over and over while expecting a different result?

Can you show me how the agile southern governors have been productive? Or is non-productivity a malaise prevalent only in the north?
Can you show how those problems I highlighted have been solved by southern govs in their domain?

tnerro1:
This one the north is just wailing like this, the man must be doing something good😂

So when the north and SW wailed during Jona time, Jonathan was actually doing something good. Hmmmm

sulaak:


I never said $20 billion had been saved; I said $20 billion was wasted on fuel subsidies, and that money came from borrowing. That's why the external debt under Buhari went from $10 to $47 billion, and the country's internal debt grew by an additional N37Trillion (Ways and Means)

The problem is how some of you just off sense when you want to defend govt and swallow whatever gobbledegook fits your narrative
If Nigeria indeed has the unrealistic luck of borrowing $10bn every year for subsidy under Buhari, that will imply that our total debt should be above $160bn minus other debts. How come our debt is now $47bn according to you
Also, if Nigeria was spending $1.5bn monthly to subsidise forex, that will amount to $18bn a year in a country where our national budget has never exceeded $30bn even while being a deficit. Can you then explain where the extra $18bn was coming from and where it is now? Cause the present govt is still borrowing and can't seem to finance its own spending as well

Ojuntana:

The problem is how some of you just off sense when you want to defend govt and swallow whatever gobbledegook fits your narrative
If Nigeria indeed has the unrealistic luck of borrowing $10bn every year for subsidy under Buhari, that will imply that our total debt should be above $160bn minus other debts. How come our debt is now $47bn according to you
Also, if Nigeria was spending $1.5bn monthly to subsidise forex, that will amount to $18bn a year in a country where our national budget has never exceeded $30bn even while being a deficit. Can you then explain where the extra $18bn was coming from and where it is now? Cause the present govt is still borrowing and can't seem to finance its own spending as well

Buhari didn't start borrowing until 2019 after Ahmad Lawan started rubber-stamping his government's request for new debt. Previously, Saraki blocked the request in his first four years.

External debt rises to $40bn under Buhari
25th October 2022
https://punchng.com/external-debt-rises-to-40bn-under-buhari/



https://www.timesng.com/news/headlines/489041-inside-nigerias-debt-crisis-how-foreign-loan-under-buhari-triples-past-govts-combined-figure.html

sulaak:


Buhari didn't start borrowing until 2019 after Ahmad Lawan started rubber-stamping his government's request for new debt. Previously, Saraki blocked the request in his first four years.

External debt rises to $40bn under Buhari
25th October 2022
https://punchng.com/external-debt-rises-to-40bn-under-buhari/



https://www.timesng.com/news/headlines/489041-inside-nigerias-debt-crisis-how-foreign-loan-under-buhari-triples-past-govts-combined-figure.html

Still, going by your picture, the main culprit was 2017-18 when the external debt jumped from $7bn to $21bn. Lawan was not yet SP then and I believe subsidy was very much in place then. So how was Buhari paying subsidy before lawan if we're to go by your theory that he needed $10bn yearly. Your picture does not tally with your claim

Ojuntana:

Still, going by your picture, the main culprit was 2017-18 when the external debt jumped from $7bn to $21bn. Lawan was not yet SP then and I believe subsidy was very much in place then. So how was Buhari paying subsidy before lawan if we're to go by your theory that he needed $10bn yearly. Your picture does not tally with your claim

A combination of external debts, "Ways and Means", mortgaging the crude oil export and national income, was used to subsidise fuel subsidies and the Naira.

Notice that from 2019 onwards, all projects came to a halt. The railway from Ibadan to Kano and the upgrade of the Eastern Railway (Maiduguri to PH) were postponed

thesicilian:

I believe the only reason you go round every thread insulting everyone is because you have nothing of value upstairs to share instead.
I'll suggest you read more - anything, from novels to magazines, news articles, history, science and maybe even documentaries and so on. You might be able to retain something you can share to those around you instead of being an online nuisance.

Dude shut it. I have known you on here for over 5 years and I have a complete assessment of you. I detest zombiees like you who and defend failures that unleash poverty on you and your children unborn and yet turn around to claim wokenes. You do all these for peanuts without thinking how damaging your actions can be to your future. I pity your family

I trust Asiwaju. He is a visionary leader who truly loves the country.

Let's him.

Obi is not matured for the position of the presidency. He has a lot of things to learn.

sulaak:



A combination of external debts, "Ways and Means", mortgaging the crude oil export and national income, was used to subsidise fuel subsidies and the Naira.

Notice that from 2019 onwards, all projects came to a halt. The railway from Ibadan to Kano and the upgrade of the Eastern Railway (Maiduguri to PH) were postponed

You've changed direction now
Are you saying there was no subsidy on fuel from 2015 to 2019?
If I recall correctly, the 2nd Niger bridge and Lagos-Ibadan road were both done till May 2023.
Your claims on Ways and Means is ridiculous. Ways and Means is used to bridge funding gaps and while it was abused, the reason was to cover shortfall in FAAC. Even Tinubu advised Buhari to print money in 2020.

Ojuntana:

You've changed direction now
Are you saying there was no subsidy on fuel from 2015 to 2019?
If I recall correctly, the 2nd Niger bridge and Lagos-Ibadan road were both done till May 2023.
Your claims on Ways and Means is ridiculous. Ways and Means is used to bridge funding gaps and while it was abused, the reason was to cover shortfall in FAAC. Even Tinubu advised Buhari to print money in 2020.

I don't know your intention. There have always been fuel subsidies, but under the Buhari government, debt was now being used to fund the fuel subsidy.

I am not here to defend the Tinubu government. Tinubu gave us Buhari, and his failure to reform his corrupt government is why economic reform will not work under Tinubu. Recurring expenditure and poor fiscal strategy are lacking in Tinubu govt

helinues:
His opinion

His opinion is totally in line with what REALITY holds in Nigeria.

All and Sundry see and know T-pain as a total failure, Yoruba, Igbo Hausa hustling in Nigeria agrees that T-pain is a clueless FAILURE na only jobless online Apc headless mob of happy slaves say otherwise 😁

Btw the people we know to be pro Apc in real life are thugs, cultists, under bridge touts, you will hardly see any sane Nigerian who have something doing with their lives declare for the GOAT of failure called T-pain in real life.

TheGreatIyaebe:
I trust Asiwaju. He is a visionary leader who truly loves the country.

Let's him.

Obi is not matured for the position of the presidency. He has a lot of things to learn.

Loll You are not in line with Reality 😁😁
T-pain is already known in real life as a total clueless failure 😁

Expecting a man who does not believe in Nigeria to make Nigeria better is being delusional.

Oloshi Oru gele Adofuro, you probably didn't expect Nigeria to still be standing right now when you emptied the treasury. Thank goodness for president Tinubu, it will soon be you and malu Bleep mate in your own country where you can be all you ever wanted

You should start thinking about your own country and stop talking about a genius that your backward lineage has never and will never produce his in 10 lifetimes.

Tochi360:


Loll You are not in line with Reality 😁😁
T-pain is already known in real life as a total clueless failure 😁

Expecting a man who does not believe in Nigeria to make Nigeria better is being delusional.

AND THE NASS IS NOT WORKING WELL

AND THE NASS IS NOT WORKING WELL

THE NASS IS COLLUDING NOT COOPERATING.

THE JUDICIARY IS COLLABORATING NOT COORDINATING.

sulaak:


I don't know your intention. There have always been fuel subsidies, but under the Buhari government, debt was now being used to fund the fuel subsidy.

I am not here to defend the Tinubu government. Tinubu gave us Buhari, and his failure to reform his corrupt government is why economic reform will not work under Tinubu. Recurring expenditure and poor fiscal strategy are lacking in Tinubu govt

My intention is to prove that your claim that Buhari borrowed a figure every year to fund subsidy is a lie.
At the last count, the total debt owed by NNPCL which was the company responsible for importing fuel under Buhari was $6bn out of which about $1.5bn was borrowed by this istration.
So it's mathematically impossible for Buhari to have borrowed $20bn every year for subsidy. These are the kind of lies they spin to deceive people and you fell for it unfortunately

Ojuntana:

My intention is to prove that your claim that Buhari borrowed a figure every year to fund subsidy is a lie.
At the last count, the total debt owed by NNPCL which was the company responsible for importing fuel under Buhari was $6bn out of which about $1.5bn was borrowed by this istration.
So it's mathematically impossible for Buhari to have borrowed $10bn every year for subsidy. These are the kind of lies they spin to deceive people and you fell for it unfortunately

You are in denial, and I can't waste my valuable time with you anymore.

Why President Buhari Should be Prosecuted.
Blessing Oladeji
Blessing Oladeji
CEO & Co-Founder at Octave Analytics


July 14, 2024
Look and this report and comment if Buhari should be in jail too.

Nigeria's debt profile has reached alarming levels, raising significant concerns about our economic sustainability. According to this report, Nigeria's total debt now stands at an unprecedented N121.67 trillion, split almost evenly between domestic (N65.65 trillion) and external (N56.02 trillion) debts. This mounting debt places Nigeria on a precarious path from debt sustainability to a potential debt trap, threatening the nation's financial stability and growth.

How Did We Get Here?

The analysis of Nigeria's debt accumulation reveals a concerning trend over the past two decades:

2015: By the end of Jonathan's presidency, the debt had risen to N10.94 trillion
2020: Under President Buhari, Nigeria's debt skyrocketed from N10.94 trillion to N28.21 trillion, a staggering 157.9% increase.
2023: By the end of Buhari's term, the debt surged to N97.79 trillion, a further increase of 246.7%.

The data clearly shows that the most significant debt accumulation occurred during President Buhari's istration, with a total increase of over 600% from N10.94 trillion in 2015 to N97.79 trillion by 2023.

ability and Governance

The rapid escalation of Nigeria's debt under President Buhari's istration is a cause for serious concern. The implications of such a massive debt increase are profound, impacting not only the current economic environment but also the future generations who will bear the burden of repayment.

Given the severe economic repercussions that we are currently facing and the potential for Nigeria to fall into a debt trap, it is imperative to hold those responsible able.

I think that President Buhari should be prosecuted. What do you think?

A Call for Change

Nigeria must not repeat the mistakes of the past. The country's journey from a relatively sustainable debt profile to the brink of a debt crisis underscores the urgent need for effective governance and stringent ability measures. Learning from the past, Nigeria must implement a robust and overarching restructuring to ensure that such a scenario does not repeat itself.

https://www./why-president-buhari-should-prosecuted-blessing-oladeji-mafwf/

sulaak:



You are in denial, and I can't waste my valuable time with you anymore.

You should have spent your valuable time to be properly educated on the matter before your started writing from ignorance
Look at your latest evidence for example. It is based on conversion of the external loans to naira. That will balloon the value. If you attempt that at today's value, you'll probably write for Tinubu to be hanged.

Ojuntana:

The problem is how some of you just off sense when you want to defend govt and swallow whatever gobbledegook fits your narrative
If Nigeria indeed has the unrealistic luck of borrowing $10bn every year for subsidy under Buhari, that will imply that our total debt should be above $160bn minus other debts. How come our debt is now $47bn according to you
Also, if Nigeria was spending $1.5bn monthly to subsidise forex, that will amount to $18bn a year in a country where our national budget has never exceeded $30bn even while being a deficit. Can you then explain where the extra $18bn was coming from and where it is now? Cause the present govt is still borrowing and can't seem to finance its own spending as well

Well said.
You done give that Zombie work.
I bet you, he would not respond

Ojuntana:

Still, going by your picture, the main culprit was 2017-18 when the external debt jumped from $7bn to $21bn. Lawan was not yet SP then and I believe subsidy was very much in place then. So how was Buhari paying subsidy before lawan if we're to go by your theory that he needed $10bn yearly. Your picture does not tally with your claim

Good question.

But Zombie Na Zombie

TheGreatIyaebe:
I trust Asiwaju. He is a visionary leader who truly loves the country.

Let's him.

Obi is not matured for the position of the presidency. He has a lot of things to learn.

Says ZOMBIE without Sense.

Sobalim:
Dude shut it. I have known you on here for over 5 years and I have a complete assessment of you. I detest zombiees like you who and defend failures that unleash poverty on you and your children unborn and yet turn around to claim wokenes. You do all these for peanuts without thinking how damaging your actions can be to your future. I pity your family

Sobalim:
Lol..Not everyone on here is hungry like yourself dude. I'm living comfortably with my wife and 4 kids and moreover, I help people who beg for money like you and not the other way round

Now you can switch over to your other monikers to beg for money

thesicilian:

Now you can switch over to your other monikers to beg for money

Lol..Not everyone on here is hungry like yourself dude. I'm living comfortably with my wife and 4 kids and moreover, I help people who beg for money like you and not the other way round