Tuesday, 22 December 2015

NIGERIA'S EXTERNAL DEBT BURDEN TO ALL OF US


                               
                                             

                            Nigeria’s External Debt Stood  At $66.2bn


The Debt Management Office (DMO) in Nigeria, says the nation’s external debt profile now stands at $11 billion with the domestic debt hitting 11 Trillion Naira (about $55.2 billion).

If the information released by DMO office is anything to relied on, then economic implication is far reaching...
it means $11bn plus that of domestic debt $55.2bn will give us sum of $66.2b divided by Nigeria Population lets say 180 million People since we do not know our actual figure, this will give us ==> 66.2bn /180m = 367.777777778  then if this amount is multiplied by the prevailing exchange rate at autonomous Market of today 22 December, 2015  inversely that is =N=280 to $1 therefore the answer will be =N=280 X 367.777777778 we would get 102977.77777784  approximately of =N=102,977.78 for every Nigerian alive today.

it means every Nigerian is in debt to the tune  of =N=102,977.78 so, whenever you walk pas anyone man or woman, boy or girl the person in indebted as a result of being a Nigerian.

we all should be accountable and responsible to our leader's action or inaction. whenever the issues of borrowing arises be it locally or externally, we should as a matter of fact be more interested in it. or else the future generation will hold all of us accountable for it.


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