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How Nigeria Is Traded Away Via Bond Sales By Ettu Mohammed

Published by Sahara Reporters on Mon, 24 Feb 2020


The Nigeria Government via the DMO is busy mortgaging the future of our unborn kids. they have accumulated so much debt in the last 50 days to fund Federal Govt fiscal operations which is majorly consumption.''Between January 1 and Feb 20 2020 the Federal Government of Nigeria through the Debt Management office has allotted a total of N527.8 billion Naira ~ ($1.73 billion)as bond to investors between 5-30 years at an average rate of 10.85%.'''January 2020 a total of N411.8 billion bond was allotted to investors.A. 13.1 % ~N53.5 billion was allotted to investors @ 9.85% for 5 yearsB. 32% N131.8 billion was allotted to investors @ 11.13 % for 10yearsC. 55% ~ N226.49 billion was allotted to investors @12.56 % for 30 years.Calculating our debts when they mature between 2025, 2030 and 2050.''-A = P(1 + rt)Where:A = Total Accrued Amount (principal + interest)P = Principal AmountI = Interest Amountr = Rate of Interest per year in decimal; r = R/100R = Rate of Interest per year as a percent; R = r * 100t = Time Period involved in months or years.''-In 5 yearsAmount = N53.5 billion (1 + (9.85% * 5years)) ~ N79.8 billion.In 10 yearsAmount = N131.8 billion (1 + (11.13%*10years)) ~N278.5billionIn 30 yearsAmount = N226..49 billion (1+(12.56%*30years))~ N1.079 trillion.''-February 2020 a total of N160 billion bond was allotted to investors.A. 19.7 % ~N31.52 billion was allotted to investors @ 8.75% for 5 years.B. 24% ~N38.4 billion was allotted to investors @ 10.7% for 10 years.C. 56.3% ~ N90 billion was allotted to investors @12.15% for 30 years.Calculating our debts when they matureA = P(1 + rt)Where:A = Total Accrued Amount (principal + interest)P = Principal AmountI = Interest Amountr = Rate of Interest per year in decimal; r = R/100R = Rate of Interest per year as a percent; R = r * 100t = Time period involved in months or yearsIn 5 yearsAmount = N31.52 billion (1 + (8.75%*5years)) ~ N45.31 billion.In 10 yearsAmount = N38.4 billion (1 + (10.7%*10years)) ~ N78.5 billionIn 30 yearsAmount = N90 billion (1+(12.15%*30years))~ N418.05 billionIn Total The Federal Government of Nigeria has indebted Nigeria to the tune of (N79.8 billion +N278.5billion+ N1.078 trillion N45.31 billion + N78.5 billion + N418.05 billion ~ N1.937 trillion ~ ($ 6.35 billion) by the end of 2050 this is without inflation and exchange rates.Our kids already owe some investors $6.35 billion dollars they don't know about.OpinionAddThis:Original Author:Ettu MohammedDisable advertisements:
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