What You Didn’t Know About Nigeria’s Debt, Development 

Do you know that our IMF loan obligations have been significantly paid down from $2.47 billion as of 2023 to $800.23 million at the end of 2024? A substantial decrease of over 67% in that period.

Know This:

– Nigeria, under PBAT, is paying its loans back. No default. No unnecessary borrowings. No seeking for tens of billion dollars in debt bailout and sacking of 70% of the workforce (as another ‘critic-perennial candidate’ prescribed as a solution citing another country in South America as his example)

– Nigeria, under PBAT, is clearing legacy debts from multiple administrations. Yet, our foreign reserves are rising.

– The federating states are receiving more FAAC allocations under PBAT’s administration. Their highest ever.

– Nigeria under PBAT is now exporting more than it imports. We have a trade and payments surplus. Did I hear someone say PBAT is the real ‘consumption to production’ advocate?

– Foreign investors are coming back under PBAT – from those in the oil&gas sector who left to new investors in Agribusiness, Solid Minerals, Aviation, Industry, etc. That’s confidence.

– Local investors are not left out. From Dangote to BUA, Breweries to Banks, and many others, they are pulling in their biggest profits in years. If you doubt me, check official company results on the NGX website. e.g. Nigerian Breweries did a massive turnaround to profits in their just released results. Go and Verify!

Lest I forget, road construction is simultaneously ongoing in 74 roads across 24 states of the Federation as well as the marquee Lagos-Calabar & Sokoto-Badagry super highways which will open up industry, agriculture, and productivity along those routes.

Approvals have been given for the completion of Abuja-Kaduna-Zaria-Kano Road.

The East-West Road in on track. Akwanga-Jos-Bauchi-Gombe Road is being reconstructed.

2nd Niger Bridge Phase 2B (access roads) have commenced. The list is almost endless. Again, Follow who know road!!!

After former President M Buhari (2015-2023) did his best to navigate the country through an economic crisis brought about by profligate spending by the admin before him + covid-19 + global recessions + disruptions to the global supply chains, President Tinubu said upon assuming office that he will build on the good works of his @OfficialAPCNg predecessor, fix cumulative structural imbalances from previous admins, and build a solid foundation for Nigeria and generations yet unborn.

*Nigeria will thrive and succeed*

If you are not betting on Nigeria already, you are on a long thing!