Nigeria spent 86 per cent of its revenue on servicing debt in 2021, but South Africa spent only 20 per cent of its receipts on the same purpose, according to findings byAccording to the International Monetary Fund’s 2021 Article IV estimates, Africa’s most populous nation spent 85.5 per cent of its revenue on servicing the debt in 2021.
Nigeria’s total debt as at December 2021 was $94.166bn, according to the Debt Management Office, but South Africa’s total debt at the same period was $261bn, according to the country’s National Treasury and Bloomberg. The Chief Executive Officer of Centre for the Promotion of Private Enterprise, CPPE, Dr Muda Yusuf, said that debt service ratio was a function of the magnitude of the debt and its cost.
That's the CHANGE.
I hope those running for president know what is waiting for them.
Under Buhari regime things dey happen 80 billion! How much is ASUU asking for Make the man or his wife no collapse like others and his case go close Buhari na you get this hand 🙌, you dey fight corruption wella Onye bu ahriri
This government just wasting Nigerians time. 86% for debt servicing, is not acceptable.if it is their private business, will they allow it. Charlatans and Efulefus running the nation. What a tragedy.
Maybe if we didn't take loans to fund our leaders' extravagant lifestyles, we wouldn't be putting so much money into debt servicing
That day must come for the masses to understand the differences between the Buhari of war against indecipline that went after Umaro Diko in London for looting public funds & the Buhari of APC that is borrowing for Diko's Day of reckonings is near☝
Walahi, Buhari onikuureee. Amin OLORIBURUKU EDA
The way tinz are going... Soon it would be 172℅ and we still talking about it🇳🇬 Maybe then south 🇿🇦 would be below or less than 5℅
Everybody wants to be president, now buhari has finished a finished nation .....
It's more than 86%
Any right-thinking Nigerian can see that we have been sold to slavery under the Buhari-led APC govt. The implication of this is poverty and all manner of vices will take over the country.
Exactly what Peter obi was saying and Vp saying other wise…. Borrowing to consume rather than bringing people out of poverty…. That is what APC government does
The brainwashed followers are still brandishing “debt to GDP ratio”. One of them asked me if Nigeria has borrowed half of what America borrowed. I stopped arguing immediately.
Is that the next thing now, old man...
So how can any nation develop like that, especially when even the loans obtained for development are looted by officials?
Let's support the Government to rebuild a new Nigeria with a strong economic base . God bless my country .
Exactly what PeterObi has been saying.
It's my fault🤷
This man government don borrow for us and for our children children's even up to our 5th generation 🤣 Now no where to borrow from again 🤣🤣🤣🤣🤣 Mr president the borrow borrow master and King
Buhari's legacy
Wen dey head no go school na so d hand go dey borrow borrow. The government no fit point one thing wen dem use the borrow borrow money do
And Osinbajo is learning from Buhari. Just look at the failure of who he is learning from!
Hmm. That's what you have when you have a country whose leaders are bereft of ideas.
Who send you loan?
That's the CHANGE
If this doesn't trouble you, then I implore you to give another Buhari a chance, by the time he's done, Nigeria will only exist on maps and history books.
Buhari put us in that mess
no be you go borrow more without trying to reduce the level of wastage and corruption
I Don tire for this Country
This is aphyxiating.
For those who won’t read; this actually reveals how bad our revenue collection is not debt. We have a revenue problem.
This country na Borrow Borrow
Isn't Nigeria wonderful?
That's the difference between success and failure.