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You Can't Clear N30 Trillion—analyst Challenges Tinubu's Remark On Debt Clearing - Politics - Nairaland 1p515k
You Can't Clear N30 Trillion—analyst Challenges Tinubu's Remark On Debt Clearing (996 Views)
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| hezyfem(m): 2:04pm On Oct 02, 2024 |
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In a recent statement via his official X , Kalu Aja, a well-known financial analyst and educator, has responded to President Tinubu's Independence Day statement about clearing Nigeria's Ways and Means (W&M) debt.
President Tinubu had claimed that his istration had cleared the N30 trillion W&M debt. However, Aja debunked this claim and questioned the accuracy of the president's claims. You can't clear N30t; you don't have the cash or earnings. You converted the existing W&M obligation to long-term bonds, which all Nigerians will repay. Then you borrowed a fresh N7 trillion from Ways and Means," Kalu Aja wrote. He pointed out that the country lacks the financial resources to eliminate such a large debt completely. Aja explained that instead of clearing the debt, the government had restructured it. This means that the debt was not wiped out but rather transformed into bonds, spreading the repayment over a longer period. This move essentially es the burden of repayment onto the Nigerian people, who will now have to bear the costs over time. In addition to this, Aja highlighted that the government had not only restructured the existing debt but had also borrowed more money. This means that despite the claims of debt reduction, the government has increased its borrowing, adding to the country's financial obligations. Aja's comments suggest that while the government may have taken steps to manage the debt, it has not "cleared" it as President Tinubu claimed. Instead, the debt has been reshaped and even increased, raising concerns about the long-term financial burden on Nigerians.
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| VeryWickedBro: 2:20pm On Oct 02, 2024 |
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Seems B.Sc Tinubunomics is an 8 year university course with plenty carry overs
12 Likes 2 Shares |
| ogmask: 2:23pm On Oct 02, 2024 |
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Tinubu is a big mistake to this country. The worse part is the guy lies like fish. 9 Likes 1 Share |
| Babangidapikin: 2:51pm On Oct 02, 2024 |
 Me sef dey reason the matter ...how much are you saving or earning ... just gave us financial balubalu to swallow.
3 Likes |
| Buccalcavity2: 3:01pm On Oct 02, 2024 |
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Opposition don see food. This is what happens when you are not organized. You grab at straws so you can just be heard. You wrote an article and you contradicted your self within it Is there ways and means of N30T today? Paragraph 4 answered it. Ways and means is cleared! Total loan in the country is a different conversation. Honestly, it's disappointing that there is no sound opposition. 2 Likes |
| Infotubia9ja: 3:09pm On Oct 02, 2024 |
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See what that man is saying is very correct. I just saw a seminar of an Italian professor explaining what our president bola tinubu is doing and he is trying to cut corners with deals with world bank and China. What he did was simply extend the bond by going to world bank and clean for loan payment reduction lease. What happened was that monthly loan return payment reduces by half, but In turn, intrest rate increased due to additional time added to loan repayment. And by so doing, he was able to secure more loans on top the one Nigeria was owing. Now this is a very bad thing for Nigeria because we now owe what we don't have and every Nigerian yet unborn for the next 10 generations will be paying the loan bola tinubu and buhari took. Our generation is doomed we can not utilize Africa because we are now slaves to our own resources. 2 Likes |
| BlueRayDick: 3:17pm On Oct 02, 2024 |
Buccalcavity2: Cleared go where? Tinubu claimed to have cleared Ways & Means debt which simply implies it has been repaid. Now someone who obviously has more intellect than you has fact checked him only to discover the debt was restructured and not repaid as claim by your principal. Instead of you to humble yourself and learn, you are trying to throw shade at the person who has been magnamous enough to educate you without charging you. 12 Likes |
| ivandragon: 3:22pm On Oct 02, 2024 |
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Bat is cunning. Never truthful, never straightforward. The man believes being dubious is an achievement. 5 Likes |
| Oakenshield: 3:27pm On Oct 02, 2024 |
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ers will soon come flooding the thread with excuses
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| nedu666: 3:27pm On Oct 02, 2024 |
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Bat abi t pain only securitized the debt for next 30 years at 4%. So he is borrowing his own ways and means
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| Anither563: 3:28pm On Oct 02, 2024 |
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This is a good analysis.
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| Tanoriydl: 3:28pm On Oct 02, 2024 |
ogmask: Why do you compare his type of lies to a fish. Has a fish ever told a lie before 
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| Buccalcavity2: 4:18pm On Oct 02, 2024 |
BlueRayDick:Only this time, I'll ignore your foolery and educate you. Kalu is your demigod but I'm a critical thinker not driven by mob mentality. Ways and Means is a specific type of loan only availed by CBN and intended to manage short term cashflow of FG. Law says it should not exceed 5% of previous annual revenue budget. Experts criticized govt that W&M already sured budget, and rightly claimed it was illegal! Tinubu told you he has cleared that illegality. No ways and means to that tune again. No illegalities in having loans but ways and means have been cleared, no longer on CBN balance sheet. That simple! Your president is just bragging about cleaning up the county's financial books (as an ant will do). No biggie. His statement is true and nobody should get hung up on it. 1 Like |
| ivolt: 4:29pm On Oct 02, 2024 |
Infotubia9ja:This is very great for Tinubu, after all, he only has 8 years while the lone continues into the future. |
| BlueRayDick: 4:41pm On Oct 02, 2024 |
Buccalcavity2: You are only being clever by half. The bottom line which the financial analyst is pointing out is that the debt is very much still being owed, the repayment date and have only been deferred. Only a halfwit will start dancing around semantics trying to debt restructuring as debt repayment. You should be more worried about the debt being ed to ordinary citizens instead of trying to argue semantics. Go back to your Whatsapp group and ask people that are more knowledgeable than you to break things down for you. 6 Likes |
| Buccalcavity2: 4:58pm On Oct 02, 2024 |
BlueRayDick:Again. Get serious and focus on important things. The securitized loan has been factored into the total loan portfolio since last December. You are the one dancing around. No drama in having loans, esp when he complimented that with DSR statement. When it was with CBN, ordinary citizen was paying it too, so what's different. Abi FG has a different money from Nigeria's money? Does Nigeria have W&M to the tune of N30T today. Yes or No? I made it clear it's neither here no there. Nobody should get hung up on it. Except censorious analyst forming opposition. |
| Tinubuofemmanu: 6:05pm On Oct 02, 2024 |
Buccalcavity2: Mugu, answer this simple question right now with yes or no answer. Is Nigeria still owing the 30 trillion Way and means portfolio left behind by Buhari?.. 2 Likes |
| Zaheertyler(m): 6:25pm On Oct 02, 2024 |
Buccalcavity2:.. |
| Salewa97: 6:30pm On Oct 02, 2024 |
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The government has been borrowing, we are now paying less interest rate than before. That na achievement. 1 Like |
| bestlary(m): 6:40pm On Oct 02, 2024 |
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z
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| CodeTemplarr: 6:50pm On Oct 02, 2024 |
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The clowns bearly produced 10% of that in verifable goods and services but claims the money has been cleared. It all points to anither desperate attempt to print cash and in order to do that, they have to clear the pending Ways & Means obligations. They did with the stroke of a pen to position the govt for new cash printing. The way Tinubu was screaming "print cash" to buhari from the sidelines in 2021, it was obvious he believed cash increase is a viable solution to hardship. 1 Like |
| Buccalcavity2: 6:54pm On Oct 02, 2024 |
Tinubuofemmanu:I'll answer with my full chest. No! No more N30T ways and means loan! Any other one? |
| CodeTemplarr: 6:56pm On Oct 02, 2024 |
Buccalcavity2:What is the right way to clear wasys and means? Stroke of pen or production? By clearing the current N30Tr with pen, they want to start another round of cash printing and thus inflation. The man cant fight the systemic battle involved in boosting priduction. He needs cash that will fall into the coffers of govt so he can head to dangote, buy cement and pay julius berger to build flyovers and highways. So he can pay civil servants who will always be happy to collect even N30k a month because most are not working for it. They can alwaya inflate contract to get their personal share. 1 Like |
| trutharena: 7:16pm On Oct 02, 2024 |
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All this analysis ehn, nawa o.
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| Buccalcavity2: 7:19pm On Oct 02, 2024 |
CodeTemplarr:I'm not aware of "a right way" to clear debt! You can educate us. The problem is opposition doesn't know what to critique (and there are many) because they are not organized. If your problem is total debt portfolio, then focus on it. Don't bring ways and means again. The broadcast also talks about offsetting $7B fx contracts, which reduces total debt portfolio but you won't talk about that. You are arguing about reclassification of debt and making an ant shine. If I was opposition, I'll discountenance that comment rather than carry it like gala because he can explain it away. N30T Ways and means is gone! That's a Fact! |
| CodeTemplarr: 7:46pm On Oct 02, 2024 |
Buccalcavity2:Gone to where? |
| etrouble: 7:50pm On Oct 02, 2024 |
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Kalu Aja go just kee himself before Ogun get time to kee him
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| nwadiuko1(m): 10:15pm On Oct 02, 2024 |
Buccalcavity2:Don't tell me you are this dumb. 1 Like |
| Ofunaofu: 10:18pm On Oct 02, 2024 |
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Tinubu is a liar on a normal
1 Like |
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