Nigeria was debt-free when I left government in 2007 – Obasanjo (Page 2)

Date: 29-08-2012 2:11 pm (8 years ago) | Author: franel
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- cadanre at 29-08-2012 08:51 PM (8 years ago)
(f)
Quote from: harunakoni on 29-08-2012 08:42 PM
Men u been try no doubt.. Bt u rigged election lik die.

That is correct.

Posted: at 29-08-2012 08:51 PM (8 years ago) | Hero
Reply
- chicco77 at 29-08-2012 08:59 PM (8 years ago)
(f)
 Shocked Shocked
Posted: at 29-08-2012 08:59 PM (8 years ago) | Addicted Hero
Reply
- DebigBen at 29-08-2012 09:52 PM (8 years ago)
(m)
Na now OBJ wan talk am? Why OBJ no open mouth tell us when e dey commot for office and after these past years em come dey talk am.
Posted: at 29-08-2012 09:52 PM (8 years ago) | Upcoming
Reply
- DebigBen at 29-08-2012 09:52 PM (8 years ago)
(m)
Inshort OBJ wan tell the world say Naija dey owe.
Posted: at 29-08-2012 09:52 PM (8 years ago) | Upcoming
Reply
- denmal at 29-08-2012 10:27 PM (8 years ago)
(m)
rubbish
Posted: at 29-08-2012 10:27 PM (8 years ago) | Gistmaniac
Reply
- proly at 29-08-2012 11:07 PM (8 years ago)
(f)
ok
Posted: at 29-08-2012 11:07 PM (8 years ago) | Hero
Reply
- Senegal at 30-08-2012 12:55 AM (8 years ago)
(m)
OBJ Shocked Shocked Shocked Shocked Shocked
Posted: at 30-08-2012 12:55 AM (8 years ago) | Hero
Reply
- dickman2 at 30-08-2012 12:59 AM (8 years ago)
(m)
ok,
Posted: at 30-08-2012 12:59 AM (8 years ago) | Addicted Hero
Reply
- colliboy at 30-08-2012 02:45 AM (8 years ago)
(m)
Super story
Posted: at 30-08-2012 02:45 AM (8 years ago) | Upcoming
Reply
- papadip at 30-08-2012 03:09 AM (8 years ago)
(m)
I am not a fan of any politician in Nigeria the fact is Obasanjo is right about the debt issue but that does not mean he’s off the hook. He’s got good connections in Texas dating back to late 70’s if you know what I meant.


Last Updated: Friday, 21 April 2006, 15:33 GMT 16:33 UK 
Nigeria settles Paris Club debt


Nigeria has paid off its multi- billion dollar Paris Club debt, becoming the first African nation to settle with its official lenders.
The move may clear the way for greater government spending on infrastructure, healthcare and education, and is hoped will prompt greater foreign investment.
Nigeria has undertaken a programme of economic reforms and the oil exporter has been helped by record crude prices.
The Paris Club is a group of 19 lenders including the UK, Russia, and Germany.
"The central bank has converted the currencies in advance so it's procedural now," Mansur Muhtar, director general of Nigeria's Debt Management Office, told Reuters.
"All the necessary instructions have been sent."
After the $4.6bn payment, Nigeria still will owe about $5bn to other lenders, including the World Bank and the private sector.
Nigeria is one of the world's biggest oil exporters, but it is also one of the world's poorest countries, with the majority of the population living on less than $1 per day.
The government is now benefiting from high oil prices, despite production problems and unrest in the Niger Delta region.
During the years of military dictatorship, little of Nigeria's oil wealth reached the average person. The current government is seeking the recovery of billions of dollars put away in Swiss bank accounts by General Abacha.
Long history
The country's debts date back to the early 1980s, and had ballooned to more than $35bn due to penalties and late fees during the 1990s.
   
Last year the country agreed to a repayment plan that was a mix of cash and debt relief, backed by the country's burgeoning oil revenues.
Nigeria agreed to pay the Paris Club $12.4bn (£8.2bn) in exchange for the remainder of its $30bn official debts being written off.
Nigeria's plan to pay off its debt and restructure its economy was approved by the International Monetary Fund (IMF) earlier this week.
The debt repayment is a key part of the economic reform plan of President Olusegun Obasanjo, who is also planning a string of privatisations, tax reform, and greater transparency in order to boost the economy and attract foreign investors.
Nigeria has already been removed from an international credit blacklist, and now has credit ratings similar to other emerging market countries such as Turkey and Ukraine. That means the government is now able to borrow money on international capital markets on favourable terms.
Different from HIPC
Nigeria has followed a different path from other African countries who have been burdened with debt.
It was not included in the list of highly indebted poor countries (HIPC) that were eligible for 100% debt relief from official lenders, the IMF, and the World Bank, due to its oil wealth.
However, those countries have been subject to stringent conditions and long delays before they qualified for debt relief.
Nigeria has been able to negotiate its own debt deal at its own pace because it has the funds to partially pay off its creditors, who were happy to accept a smaller overall
      
Posted: at 30-08-2012 03:09 AM (8 years ago) | Gistmaniac
Reply
- dlimelite at 30-08-2012 03:16 AM (8 years ago)
(f)
 Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes
Posted: at 30-08-2012 03:16 AM (8 years ago) | Hero
Reply
- aso4life1 at 30-08-2012 04:03 AM (8 years ago)
(m)
Quote from: interpo777 on 29-08-2012 06:51 PM
hmm,obasanjo will nee stop making me laugh.......so he is claiming a saint or he is a corruption free leader? OBJ must stop telling cock and bull stories, he must stop thinking that nigerians re ignorant of his falses atitude and  corruption ....who sold abiokuta iron ore complex? .the nigerian free debth in  2007 was architected by NGOZI OKONJI IWUALA(YOU CAN'T EVEN SPELL THE NAME CORRECT, OLODO) not  obj.........he ruined nigeria and today the results re in the street....
why are you talking with ignorance?  Yes, OBJ stole our money but I have only SOME question for you, WHO EMPLOYED NGOZI OKONJO IWEALA ?  IF HE NEVER GIVE NGOZI THE FREE HAND WILL SHE BE ABLE TO ACHIEVE THAT? CAN YOU REMEMBER HOW MANY COUNTRIES OBJ VISITED TO BEG IN ORDER TO CANCEL NIGERIA'S DEBT?

Posted: at 30-08-2012 04:03 AM (8 years ago) | Hero
Reply
- papadip at 30-08-2012 04:03 AM (8 years ago)
(m)
Quote from: dlimelite on 30-08-2012 03:16 AM
Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes

Any problem and what's up?
Posted: at 30-08-2012 04:03 AM (8 years ago) | Gistmaniac
Reply
- aso4life1 at 30-08-2012 04:10 AM (8 years ago)
(m)
Quote from: papadip on 30-08-2012 03:09 AM
I am not a fan of any politician in Nigeria the fact is Obasanjo is right about the debt issue but that does not mean he’s off the hook. He’s got good connections in Texas dating back to late 70’s if you know what I meant.


Last Updated: Friday, 21 April 2006, 15:33 GMT 16:33 UK 
Nigeria settles Paris Club debt


Nigeria has paid off its multi- billion dollar Paris Club debt, becoming the first African nation to settle with its official lenders.
The move may clear the way for greater government spending on infrastructure, healthcare and education, and is hoped will prompt greater foreign investment.
Nigeria has undertaken a programme of economic reforms and the oil exporter has been helped by record crude prices.
The Paris Club is a group of 19 lenders including the UK, Russia, and Germany.
"The central bank has converted the currencies in advance so it's procedural now," Mansur Muhtar, director general of Nigeria's Debt Management Office, told Reuters.
"All the necessary instructions have been sent."
After the $4.6bn payment, Nigeria still will owe about $5bn to other lenders, including the World Bank and the private sector.
Nigeria is one of the world's biggest oil exporters, but it is also one of the world's poorest countries, with the majority of the population living on less than $1 per day.
The government is now benefiting from high oil prices, despite production problems and unrest in the Niger Delta region.
During the years of military dictatorship, little of Nigeria's oil wealth reached the average person. The current government is seeking the recovery of billions of dollars put away in Swiss bank accounts by General Abacha.
Long history
The country's debts date back to the early 1980s, and had ballooned to more than $35bn due to penalties and late fees during the 1990s.
   
Last year the country agreed to a repayment plan that was a mix of cash and debt relief, backed by the country's burgeoning oil revenues.
Nigeria agreed to pay the Paris Club $12.4bn (£8.2bn) in exchange for the remainder of its $30bn official debts being written off.
Nigeria's plan to pay off its debt and restructure its economy was approved by the International Monetary Fund (IMF) earlier this week.
The debt repayment is a key part of the economic reform plan of President Olusegun Obasanjo, who is also planning a string of privatisations, tax reform, and greater transparency in order to boost the economy and attract foreign investors.
Nigeria has already been removed from an international credit blacklist, and now has credit ratings similar to other emerging market countries such as Turkey and Ukraine. That means the government is now able to borrow money on international capital markets on favourable terms.
Different from HIPC
Nigeria has followed a different path from other African countries who have been burdened with debt.
It was not included in the list of highly indebted poor countries (HIPC) that were eligible for 100% debt relief from official lenders, the IMF, and the World Bank, due to its oil wealth.
However, those countries have been subject to stringent conditions and long delays before they qualified for debt relief.
Nigeria has been able to negotiate its own debt deal at its own pace because it has the funds to partially pay off its creditors, who were happy to accept a smaller overall
      


well said

Posted: at 30-08-2012 04:10 AM (8 years ago) | Hero
Reply
- papadip at 30-08-2012 04:25 AM (8 years ago)
(m)
Quote from: interpo777 on 29-08-2012 06:51 PM
hmm,obasanjo will nee stop making me laugh.......so he is claiming a saint or he is a corruption free leader? OBJ must stop telling cock and bull stories, he must stop thinking that nigerians re ignorant of his falses atitude and  corruption ....who sold abiokuta iron ore complex? .the nigerian free debth in  2007 was architected by NGOZI OKONJI IWUALA not  obj.........he ruined nigeria and today the results re in the street....

We all ruined Nigeria via ethnicity. This is not a case of an individual but a government, a nation  and there is always someone in charge. The noble lady Ngozi did a good job but it was a team effort. Individualism is what has killed our nation which you have just demonstrated. Again all politicians are corrupt globally.
Posted: at 30-08-2012 04:25 AM (8 years ago) | Gistmaniac
Reply
- 2ndgoal at 30-08-2012 04:29 AM (8 years ago)
(m)
OH PEOPLE OF NIGERIA APPRECIATE GOOD THINGS ONE DAY, IF ANY ONE OF YOU REALLY CHOOSE TO LEAVE LONG RESPECT OBJ OK.HE HAS TRIED.
Posted: at 30-08-2012 04:29 AM (8 years ago) | Upcoming
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- Ecto at 30-08-2012 04:36 AM (8 years ago)
(m)
Is that an achievement or what?
Posted: at 30-08-2012 04:36 AM (8 years ago) | Gistmaniac
Reply
- dourthing at 30-08-2012 04:45 AM (8 years ago)
(m)
OBJ YOU ARE JUST A BIG FOOL  GO AND KILL YOUR SELF YOU ARE THE WORST THING THAT HAVE EVER HAPPEN TO NIGERIA EVIL MAN
Posted: at 30-08-2012 04:45 AM (8 years ago) | Upcoming
Reply
- papadip at 30-08-2012 04:59 AM (8 years ago)
(m)
Quote from: Ecto on 30-08-2012 04:36 AM
Is that an achievement or what?

It is not an achievement at all. We should be in the same rank like South Korea that was not nothing about 40 years ago but the problem with us as Nigerians is ethnicity coupled with corruption. We have no respects for each other. One ethnic wants to dominate. These are the two major issues.
Posted: at 30-08-2012 04:59 AM (8 years ago) | Gistmaniac
Reply
- dlimelite at 30-08-2012 05:04 AM (8 years ago)
(f)
Quote from: papadip on 30-08-2012 04:03 AM
Any problem and what's up?
No. I'm cool.
Posted: at 30-08-2012 05:04 AM (8 years ago) | Hero
Reply
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