Do We Have Debt Ceiling Or Limit In Nigeria - Politics - Nairaland
Nairaland Forum / Nairaland / General / Politics / Do We Have Debt Ceiling Or Limit In Nigeria (1666 Views)
Demonising Tinubu, And The Limit Of Lies....lateef Raji / N20k & N200K Deposit Limit For Account Holders / Otedola Pays AMCON Debt.. (2) (3) (4)
| Do We Have Debt Ceiling Or Limit In Nigeria by egift(m): 11:38pm On Jul 22, 2011 |
As the US government struggle to negotiate and resolve the best proportion of revenue and debt (borrowing) limit, I keep wondering if Nigeria have such safety net in place. Or do we just print, borrow, embezzle revenues and spend on behalf of our grand children yet unborn? |
| Re: Do We Have Debt Ceiling Or Limit In Nigeria by AjanleKoko: 11:44pm On Jul 22, 2011 |
^^ Good question. These days, a lot of people talk about it, but no one seems to know what to do about it  |
| Re: Do We Have Debt Ceiling Or Limit In Nigeria by GAR3TH(m): 12:04am On Jul 23, 2011 |
Yes, Nigeria does have a debt Limit. Nigeria doesn't borrow money as much as other countries such as the U.S.A. [Nigeria public debt $37billion - U.S.A.$14trillion] And Nigeria is in the position where it could easily pay back its debt. Nigeria most likely has debt to increase its credit score or Credit History so it can receive loans in the future with lower interest rates, IDK but its the most likely reason. [url]http://dailytimes.com.ng/article/cbn-lift-debt-limit-foreign-investors [/url] http://www.thenationonlineng.net/2011/index.php/business/12974-nigeria-comfortable-with-37b-debt-says-dmo.html |
| Re: Do We Have Debt Ceiling Or Limit In Nigeria by egift(m): 12:12am On Jul 23, 2011 |
GAR3TH: ^^ Good. So we just print, |
| Re: Do We Have Debt Ceiling Or Limit In Nigeria by ektbear: 12:15am On Jul 23, 2011 |
Sanusi supposedly just printed more money for the bank bailout from a few years ago. So I dunno if there are actually limits. |
| Re: Do We Have Debt Ceiling Or Limit In Nigeria by DisGuy: 12:20am On Jul 23, 2011 |
We do, i normally read something along the lines of 'recommended threshold' or GDP to debt ratio something like that and since we have a debt office i'm sure they definitely be working with some figures in mind |
| Re: Do We Have Debt Ceiling Or Limit In Nigeria by DisGuy: 12:26am On Jul 23, 2011 |
THE Director-General, Debt Management Office (DMO), Dr. Abraham Nwankwo, yesterday disclosed that Nigeria’s total debt comprising external and domestic debt portfolio stands at $37 billion. http://www.thenationonlineng.net/2011/index.php/business/12974-nigeria-comfortable-with-37b-debt-says-dmo.html he is a southerner n non Muslim with a phd- so i'm guessing that adds to the Nairaland credibility test |
| Re: Do We Have Debt Ceiling Or Limit In Nigeria by Sunofgod(m): 12:36am On Jul 23, 2011 |
Do We Have Ceiling Or Limit Nigeria Yeah - its like 'infinity naira' |
| Re: Do We Have Debt Ceiling Or Limit In Nigeria by wesley80(m): 12:42am On Jul 23, 2011 |
lol, You meant ekt_bear, Katsumoto and co's threshold? BTW, including whether his degrees were obtained overseas wld lift him high above that all important threshold. Dis Guy: |
| Re: Do We Have Debt Ceiling Or Limit In Nigeria by DisGuy: 12:45am On Jul 23, 2011 |
wesley80: i was just searching for that!! lol i think theres a first class there somewhere Dr. Nwankwo holds a B.Sc. Economics, M.Sc. Economics and Ph. D. Economics from the University of Nigeria, Nsukka.same as soludo did all his course at one university, I always feel somehow about this, you get to know all the professors, familiarity pass mark I thin Soludo's dad worked at the uni too! Not taking anything away from him, he's brilliant! |
| Re: Do We Have Debt Ceiling Or Limit In Nigeria by ektbear: 12:48am On Jul 23, 2011 |
hehe |
| Re: Do We Have Debt Ceiling Or Limit In Nigeria by wesley80(m): 12:55am On Jul 23, 2011 |
^^^ Ok, i guess now that we've established there's a legitimate case we can present it before the high court of NL's economic judges. I wonder who'll preside today. Oya ekt_bear over to you. |
| Re: Do We Have Debt Ceiling Or Limit In Nigeria by ektbear: 1:02am On Jul 23, 2011 |
Lol, I'm just a layman. I read a lot, but definitely no expert. Katsumoto, manny4life and Ibime seem to do this sort of stuff for a living, though. @OP, the sovereign wealth fund recently started by Aganga is a good example of saving for future generations. I don't know the details of how much exactly of the oil wealth is saved into it, though. |
| Re: Do We Have Debt Ceiling Or Limit In Nigeria by egift(m): 6:08am On Jul 23, 2011 |
ekt_bear: Is the same "sovereign wealth fund" that was to replace the Excess Crude Account? The government said the Excess Crude Account is illegal (not backed by any law), but they still have it around and keep using it = Do that not make a lot of things illegal? How about the embezzlement part, and limit on that part? |
| Re: Do We Have Debt Ceiling Or Limit In Nigeria by hercules07: 8:54am On Jul 23, 2011 |
The question I have is if $37 billion is a good debt, why did we rush to pay when we had about $32billion? Sanusi just needs to do his Phd at ABU and he will be respected, he might need to change religion as well (but he has three wives sha). |
| Re: Do We Have Debt Ceiling Or Limit In Nigeria by DisGuy: 6:49pm On Jul 23, 2011 |
^^I think the previous debts were just rolling debts, as in 'we' didnt know where they came from and they were largely due to missed payments or rolling interests, so it was just getting bigger and bigger, the current debt $37B is made up largely of local debts, contractors etc etc and they are 'functioning' not bad debt that's my own Amala and Ewedu explanation, I ddint attend a southern university and certainly didnt study economics or any financial course  |
| Re: Do We Have Debt Ceiling Or Limit In Nigeria by paddylo1(m): 1:31pm On Jul 24, 2011 |
hercules07: A coupla reasons 1) The old $32 Billion debt was mostly(80%) foreign or external debt. . This new debt is mostly domestic debt It makes a lot of sense to own debt in your own local currency,that way u can easily repay and make use of Inflation or growth to make the debt smaller as time goes by 2) Back then in 2003 our GDP was too small and debt too large,so debt to GDP ratios was approaching 80% and was unsustainable right now our GDP has grown four folds since then from $50billion to over$250 Billion,so debt to GDP ratios today are much more manageable at 19% Finallyto the person asking the question,yes we have a debt limit,which is 40% of GDP as mentioned by the DMO chairman u have to focus on the Debt to GDP ratios not the absolute dollar figures,which is pretty much meaningless when viewed out of context |
| Re: Do We Have Debt Ceiling Or Limit In Nigeria by hercules07: 6:04pm On Jul 24, 2011 |
Thanks for the response @paddy and Dis guy. |
| Re: Do We Have Debt Ceiling Or Limit In Nigeria by pinklin88(m): 9:55am On Sep 19, 2012 |
My name is Joyee Chou.I am sales manager in our company .We are manufacture about PVC ceiling and wall panel .The Size : thickness :6mm ,width : 200mm length: 5950mm .weight: 1.8kg/sqm PVC : 40% 10pcs/bundle. This size sale best in nigeria. If you want to get the best price for this size ,please tell me details about your products what you need . Then I will offer you best price . I have attached some pictures of this size here . please check it .For the future information can be available at our website : www.jxhengtai1.en.alibaba.com Customers from Nigeria , Ghana , Algeria have already established agreeable and mutual benefit business relationship with us and highly appreciated our professional service. We sincely hope hear from you and further suggestion which will give us an opportunity to serve you better . We are looking forward to receiving your reply soon. Yours Sincerely Joyee Chou (sales manager) Haiyan Hengtai Decorative Material Factory ADD: lvzhong village Yucheng Town ，Haiyan, Jiaxing city Zhejiang province,China 314300 msn: junyangzou@hotmail.com Email: junyangzou@hotmail.com or: hengtaipvcpanel@gmail.com Skype: joyee55 Tel: 0086-573-86451388 Phone: 0086-136-5583-0882 Fax:0086-573-86458399
|
(1) (Reply)
Horror In Bauchi •mother And Child, Two Sisters Hacked To Death / Lawyers Collected Their Call To Bar Certificates Under Trees ! / Oby Ezekwesili For President Of Nigeria, 2015!
(Go Up)
| Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 36 |