Nothing has shocked me in my entire life in public service as the revelation from Nigeria’s First Quarter 2020 financial reports in the Medium Term Expenditure Framework and Fiscal Strategy from the Federal Ministry of Finance, Budget, and National Planning, which shows, alarmingly, that whereas Nigeria spent a total sum of ₦943.12 billion in debt servicing, the Federal Government’s retained revenue for the same period were only ₦950.56 billion.
This means that Nigeria’s debt to revenue ratio is now 99%.
No one should be deceived. This is a crisis! Debt servicing does not equate to debt repayment. The reality is that Nigeria is paying only the minimum payment to cover our interest charges. The principal remains untouched and is possibly growing.
We are at a precipice. If our revenue figures do not go up, and go up quickly, Nigeria risks a situation where our revenue cannot even sustain our debt servicing obligations. Meaning that we may become insolvent, and our creditors may foreclose on us, as has occurred in Sri Lanka and the Maldives.
In my opinion editorial of December 17 2019, titled ‘Endless Borrowing Will Lead Nigeria to Endless Sorrowing’, I had cause to counsel the Federal Government to desist from indiscriminate lending, and offered suggestions on ways to both increase revenue, and reduce expenditure, however, my counsel fell on deaf ears. And now we have come to this.
Again, on May 15, 2020, I counselled that the Federal Government ought to reduce Nigeria’s budget by at least 25%, to reflect the economic realities of the times that we live in. Again, my entreaties were brushed aside.
As part of an administration that paid off Nigeria’s entire foreign debt, I am concerned by the alarming and avoidable unprecedented increase in our debt to GDP ratio and debt to revenue ratio. The alarm I sounded last year is now sounding louder.
Not only have we squandered our opportunities, we have also squandered the opportunities of our future generations by bequeathing them debt that they neither incurred or enjoyed.
As a matter of utmost urgency and importance, I call on the Federal Government to take immediate steps to drastically reduce its expenditure, especially on wasteful projects, such as maintenance of the Presidential Air Fleet, and unnecessary renovations of buildings that could serve as is, limousine fleet for top government officials, overseas travels and treatments, and the ₦4.6 billion Presidential villa maintenance budget, etc.
We cannot be on the verge of economic ruin, while still maintaining a Presidential Air Fleet that has more planes than the Presidential fleets of those from whom we take these loans. In fact, Nigeria must sell those planes and channel the revenue to other vital areas of need, while taking additional steps to reduce the cost of running our government.
The Federal Government cannot continue to justify these unsustainable numbers by pointing at Nigeria’s debt to GDP ratio. That is only half the picture. Our debt to revenue ratio paints a much more realistic portrait of our financial situation, especially as our revenues are majorly tied to a mono product, oil and gas, which are very vulnerable to global shocks.
Again, I warn that Nigeria is facing a crisis, and we cannot continue to keep up appearances by taking out more loans to prop up our economy. That will amount not just to robbing Peter to pay Paul, but to robbing our children to pay for our own greed!
I’m really enjoying the theme/design of your website.
Do you ever run into any browser compatibility problems? A few of my blog readers have complained
about my site not operating correctly in Explorer but looks great in Firefox.
Do you have any tips to help fix this problem?
リアル ドール 下半身 Lovedoll UK Survey – LoveDoll.co.uk Reviews Secret Doll Audit – Secret-Doll.com Reviews Complete Manual for Practical Sex Doll Wigs On Sex R
whoah this weblog is wonderful i really like reading your posts.
Keep up the great work! You recognize, a lot
of people are hunting round for this info, you could help them greatly.
Professional training courses Jalal-I Tedris Merkezine xosh gelmisiniz!
25 ildir ki, biz genclerimize peshe hazirligi ile feal meshgul oluruq. Sizin rahatliginiz ucun 3 filial Bakinin muxtelif erazilerinde yerleshir. Karyera meqsedlerinize catmaginiza komek etmek ucun yuksek keyfiyyetli peshekar telim kurslari teklif etmekden qurur duyuruq.
Telim kurslarimizin siyahisi:
Xarici dil kurslari, 1C kurslari, Autodesk 3DS Max kurslari, Archicad kurslari, Abituriyent hazirligi, Azerbaycan dili kurslari, Bank ishi, Ofis proqramlari, cin dili kurslari, Corel Draw kurslari, Dovlet qulluguna hazirliq, Alman dili kurslari, Autocad kurslari, ereb dili kurslari , Excel kurslari, Fars dili kurslari, Fransiz dili kurslari, HR kurslari, Telim ibtidai mekteb, IELTS kurslari, Adobe Illustrator kurslari, Adobe InDesign kurslari.
Учебный центр Jalal-I предлагает в Баку следующие курсы для профессионального обучения:
Bizde hemcinin ingilis dili kurslari, ispan dili kurslari, IT kurslari, italyan dili kurslari, kibertehlukesizlik kurslari, magistratura hazirligi, mektebeqeder kurslar, muellim hazirligi, muhasibat kurslari, Adobe Photoshop kurslari, rus dili kurslari, sertifikatlashdirmaya hazirliq, SMM kurslari var. , Suruculuk kurslari, TOEFL kurslari, Veb proqramlashdirma kurslari, Word kurslari, Yapon dili kurslari, Turk dili kurslari, Portuqal dili, Koreya dili kurslari, shahmat mektebi, Qrafik dizayn kurslari, Mentiq kurslari, Komputer kurslari, SEO xidmeti ve Aviabiletler.
Bizi secin ve biz size peshekar karyeranizda ugur qazanmaginiza komek edek!
Tedris merkezi Jalal-I peshe tehsili ucun seciminizdir!
Welcome! https://jalali.az/
Professional training courses Jalal-I Tedris Merkezine xosh gelmisiniz!
25 ildir ki, biz genclerimize peshe hazirligi ile feal meshgul oluruq. Sizin rahatliginiz ucun 3 filial Bakinin muxtelif erazilerinde yerleshir. Karyera meqsedlerinize catmaginiza komek etmek ucun yuksek keyfiyyetli peshekar telim kurslari teklif etmekden qurur duyuruq.
Telim kurslarimizin siyahisi:
Xarici dil kurslari, 1C kurslari, Autodesk 3DS Max kurslari, Archicad kurslari, Abituriyent hazirligi, Azerbaycan dili kurslari, Bank ishi, Ofis proqramlari, cin dili kurslari, Corel Draw kurslari, Dovlet qulluguna hazirliq, Alman dili kurslari, Autocad kurslari, ereb dili kurslari , Excel kurslari, Fars dili kurslari, Fransiz dili kurslari, HR kurslari, Telim ibtidai mekteb, IELTS kurslari, Adobe Illustrator kurslari, Adobe InDesign kurslari.
Учебный центр Jalal-I предлагает в Баку следующие курсы для профессионального обучения:
Bizde hemcinin ingilis dili kurslari, ispan dili kurslari, IT kurslari, italyan dili kurslari, kibertehlukesizlik kurslari, magistratura hazirligi, mektebeqeder kurslar, muellim hazirligi, muhasibat kurslari, Adobe Photoshop kurslari, rus dili kurslari, sertifikatlashdirmaya hazirliq, SMM kurslari var. , Suruculuk kurslari, TOEFL kurslari, Veb proqramlashdirma kurslari, Word kurslari, Yapon dili kurslari, Turk dili kurslari, Portuqal dili, Koreya dili kurslari, shahmat mektebi, Qrafik dizayn kurslari, Mentiq kurslari, Komputer kurslari, SEO xidmeti ve Aviabiletler.
Bizi secin ve biz size peshekar karyeranizda ugur qazanmaginiza komek edek!
Tedris merkezi Jalal-I peshe tehsili ucun seciminizdir!
Welcome! https://jalali.az/
Professional training courses Jalal-I Tedris Merkezine xosh gelmisiniz!
25 ildir ki, biz genclerimize peshe hazirligi ile feal meshgul oluruq. Sizin rahatliginiz ucun 3 filial Bakinin muxtelif erazilerinde yerleshir. Karyera meqsedlerinize catmaginiza komek etmek ucun yuksek keyfiyyetli peshekar telim kurslari teklif etmekden qurur duyuruq.
Telim kurslarimizin siyahisi:
Xarici dil kurslari, 1C kurslari, Autodesk 3DS Max kurslari, Archicad kurslari, Abituriyent hazirligi, Azerbaycan dili kurslari, Bank ishi, Ofis proqramlari, cin dili kurslari, Corel Draw kurslari, Dovlet qulluguna hazirliq, Alman dili kurslari, Autocad kurslari, ereb dili kurslari , Excel kurslari, Fars dili kurslari, Fransiz dili kurslari, HR kurslari, Telim ibtidai mekteb, IELTS kurslari, Adobe Illustrator kurslari, Adobe InDesign kurslari.
Учебный центр Jalal-I предлагает в Баку следующие курсы для профессионального обучения:
Bizde hemcinin ingilis dili kurslari, ispan dili kurslari, IT kurslari, italyan dili kurslari, kibertehlukesizlik kurslari, magistratura hazirligi, mektebeqeder kurslar, muellim hazirligi, muhasibat kurslari, Adobe Photoshop kurslari, rus dili kurslari, sertifikatlashdirmaya hazirliq, SMM kurslari var. , Suruculuk kurslari, TOEFL kurslari, Veb proqramlashdirma kurslari, Word kurslari, Yapon dili kurslari, Turk dili kurslari, Portuqal dili, Koreya dili kurslari, shahmat mektebi, Qrafik dizayn kurslari, Mentiq kurslari, Komputer kurslari, SEO xidmeti ve Aviabiletler.
Bizi secin ve biz size peshekar karyeranizda ugur qazanmaginiza komek edek!
Tedris merkezi Jalal-I peshe tehsili ucun seciminizdir!
Welcome! Komputer kurslari
I every time spent my half an hour to read this weblog’s articles or
reviews everyday along with a cup of coffee.
Asian porno https://www.ceramiche-sassuolo.it online
Галерея Девелоперов — это агентство недвижимости, которое поможет с подбором и покупкой новостройки в Москве и Московской Области абсолютно бесплатно, поскольку сотрудничает с застройщиками напрямую.
На сайте Developers.Gallery доступен каталог новостроек и статьи на тему покупки недвижимости в административных округах Москвы: ЦАО, САО, СВАО, ВАО, ЮВАО, ЮАО, ЮЗАО, СЗАО, ЗАО, НАО, ТАО, а также Московской Области: Зеленоград, Мытищи, Красногорск, Люберцы, Видное, Жуковский.
Приобретая новостройку на этапе котлована, имеется уникальная возможность извлечь из этого прибыль и рассмотреть покупку в качестве инвестиций. После ввода дома в эксплуатацию стоимость значительно прирастёт, что позволит перепродать её по переуступке, либо сдавать в аренду и извлекать из этого актива доходность.
Заказать звонок можно, перейдя по ссылке: Черёмушки Новостройки и менеджер составит индивидуальный каталог новостроек абсолютно бесплатно, поможет с записью в офис продаж застройщика, окажет юридическое сопровождение сделки: Проверит договор ДДУ, поможет с открытием счёта эскроу и аккредитива, а также направит инструкцию по выпуску электронной цифровой подписи для удалённой покупки в онлайн-формате.
Воспользовавшись услугами от Галереи Девелоперов вы экономите время и деньги, поскольку для вас согласуют персональные скидки и условия по покупки в рассрочку, базовую ипотеку, семейную ипотеку, IT-ипотеку и 100% оплату наличными, а ещё доступна покупка по программе trade-in — когда вы сдаёте свою текущую квартиру в обмен на новостройку.
Покупка недвижимости — это важный шаг, поэтому не менее важно подойти к ней максимально ответственно и положиться на опыт профессионалов, которые подберут жилой комплекс в непосредственной близости к станции метро, БКЛ, МЦК, МЦД, выездами на магистраль: СВХ, ЮВХ, МСД, Ленинградский Проспект, ТТК, МКАД и с большими лесными массивами, парками, детскими площадками, закрытыми от автомобилей дворами, сквозными подъездами, спортивными площадками, качественным озеленением с многолетними деревьями, солнечной стороной.
Woah! I’m really enjoying the template/theme of this blog.
It’s simple, yet effective. A lot of times it’s challenging to get that “perfect balance” between superb usability and appearance.
I must say you have done a awesome job with this.
Also, the blog loads very fast for me on Internet explorer.
Superb Blog!
242019 592818It is practically impossible to uncover knowledgeable males and girls during this subject, even so you sound like do you know what you are discussing! Thanks 234592
889391 164991Wonderful paintings! This really is the kind of info that should be shared about the internet. Disgrace on Google for now not positioning this publish upper! Come on more than and talk over with my web site . Thanks =) 5359
578670 401089Some genuinely good stuff on this web website , I adore it. 872882
736539 653851hello, your site is truly great. We do appreciate your give very good results 992038
Hello, yup this post is truly good and I have learned lot of things from it about blogging.
thanks.
Hi there, I discovered your website by way of Google even as looking for a similar
subject, your website got here up, it appears to be like good.
I have bookmarked it in my google bookmarks.
Hi there, simply become aware of your weblog thru Google,
and located that it’s really informative. I am going to be careful for brussels.
I’ll be grateful if you proceed this in future.
Many other people will be benefited from your writing.
Cheers!
Inspiring quest there. What happened after?
Good luck!
loli porn
==> xzy.cz/5151 eit.tw/gs3oW3 <==
Hmm it looks like your site ate my first comment (it was super long) so I guess
I’ll just sum it up what I had written and say, I’m thoroughly enjoying your blog.
I as well am an aspiring blog blogger but I’m still new to the whole thing.
Do you have any recommendations for beginner blog
writers? I’d definitely appreciate it.
I’ve been surfing online more than three hours today, but I never discovered
any attention-grabbing article like yours. It’s beautiful worth sufficient for
me. In my view, if all web owners and bloggers made excellent content material as you did, the
internet will be much more helpful than ever before.
What’s up, its nice article on the topic of media print, we all be
familiar with media is a enormous source of facts.
Website für Sexpuppen https://de.yourdoll.com
129326 820433I adore your wordpress web template, wherever would you download it from? 396100
Официальная покупка диплома вуза с сокращенной программой в Москве
I go to see each day some blogs and blogs to read content, but this weblog presents feature based
articles.