https://www.facebook.com/195481314495617/

Williamgold

Home
Nigeria
Sapele
Williamgold

Lands and Property's Consultants, Crypto Enthusiasm, Digital Creator and Freelancer. Cryptocurrency Enthusiasm Analyst

24/01/2025

If you are born into a rich or average family, your chances of becoming successful is high, you will have the opportunity to Leverage on your parent's networks & association,

Even from your school, you will meet children from privilege homes too, and that becomes another advantage for you.

But if you are born into a poor family, where no one has ever become successful, your chances of becoming successful by association is very thin.

Now, It takes high level of competency, brilliance and strength of character for a person born into a poor family to be able to break into the superior class.

You cannot be born into a poor family and be living carelessly, you need to work very hard, you need a distinguished knowledge advantage.

A son or daughter of a poor man that has the opportunity to go to school, should not be graduating with a 3rd class or pass. The same is true when it comes to mastering the rudiments of your business trade and honing your entrepreneurial acumen.

Don't let anybody deceive you that it is not about grade or business acumen. Good grades, excellent performance and strength of character is a leveller and also a huge advantage for the children of the poor.

To break generational circle of poverty, you need to be outstanding at all level and make God your number one priority.

Take it or leave it!

24/01/2025

That figure of N12trn under GEJ is misleading and factually incorrect is not correct.

Despite the fact that OBJ secured debt relief for Nigerian he still left some debt stock behind and by the time GEJ handed over to Muhammadu Buhari, the Federal Government component of the debt stood at $7.3bn but don't forget that exchange rate was N197/$.

DEBT PROFILE UNDER JONATHAN’S ADMINISTRATION
At the beginning of former President Goodluck Jonathan’s tenure in 2011, the federal government had an accumulated debt of N6.17 trillion.

Analysis of the debt figure showed that local debt amounted to N5.62 trillion while foreign debt stood at $3.5 billion (about N548.65 billion, using the exchange rate of N156.7/$1).

Advertisement

By the end of 2015, the foreign debt component hit $7.3 billion, while domestic debt increased by N8.4 trillion. The country’s exchange rate also stood at N197/$1.

Overall, the federal government component of the total public debt increased from N6.17 trillion in 2011 to N9.8 trillion in 2015, representing an increase of N3.63 trillion or 58.8 percent.

public debt
YAR’ADUA/JONATHAN’S BORROWINGS

Under the Umar Musa Yar’Adua/Goodluck Jonathan-led government between 2007 and 2011, domestic debt of the federal government moved from N2.17 trillion to N5.62 trillion. The foreign component of the debt also increased from $2.11 billion to $3.5 billion within the period.

The country’s exchange rate also moved from N116.8/$1 to N156.7/$1.

The combined debt profile increased from N2.42 trillion to N6.17 trillion in four years, representing a 155 percent jump.

Of the debt figure, Jonathan completed the tenure from May 2010 to May 2011 after the death of Yar’Adua. The period saw a surge in the federal government’s debt from N4.94 trillion to N6.17 trillion. This represents a 24.9 percent increase in one year.

OLUSEGUN OBASANJO’S TENURE
During the tenure of former president Olusegun Obasanjo, the debt level of the federal government reduced from N3.55 trillion in 1999 to N2.42 trillion at the end of 2007.

The 8-year term of Obasanjo resulted in a dip in FG’s local and foreign debt level, representing a 31.8 percent decline.

The country’s exchange rate was between N98.02 to N116.8 to a dollar during the tenure.

Analysis of the figures showed that external debt decreased from $28.04 billion by 1999 to $2.11 billion at the end of 2007. However, the domestic component increased from N798 billion to N2.17 trillion within the same period.

The huge decline in foreign debt was a result of the substantial reduction following the pay-off of the outstanding debts owed to the London Clubs of Creditors in the first quarter of 2007.

BUHARI, NIGERIA’S BIGGEST BORROWER, VIOLATING FINANCIAL LAWS
So far, Buhari is the country’s biggest borrower, increasing public debt (FG component) by more than 173 percent. Next to the Buhari government is the Yar’Adua/Jonathan administration with a 155 percent surge in borrowing.

The current government violates important financial laws in the country — the Fiscal Responsibility Act, and the CBN Act 2007.

Last year, the government exceeded the fiscal borrowing threshold as stipulated in the fiscal act.

Zainab Ahmed, minister of finance, budget and national planning, admitted to this on the grounds that COVID-19 was good enough reason to breach the act.

The fiscal responsibility law provides a limit of three percent debt threshold for sustainability, but the president can “exceed the ceiling if there is a clear and present threat to national security or sovereignty of Nigeria”.

In 2020, the country’s budget deficit was at about four percent of GDP, clearly breaking the law.

On overdraft, section 38, sub-section 1 and 2, of the CBN Act, said, “the Bank may grant temporary advances to the Federal Government in respect of temporary deficiency of budget revenue” and “the total amount of such advances outstanding shall not at any time exceed 5 percent of the previous year’s actual revenue of the Federal Government”.

By the end of 2020, CBN overdrafts to the Buhari government exceeded the limit by 69 percent of the revenue generated in 2019 – in a blatant violation of the apex bank rules. The government’s revenue in the year was N4.1 trillion, and overdraft stood at N2.9 trillion.

Also, Nigeria’s borrowing limit as a percent of GDP stood at 34.8 percent in 2020, well above 25 percent for the year. Earlier this year, the federal executive council (FEC) had strategically raised the borrowing limit to 40 percent in its Medium-term debt management strategy for Nigeria for the period 2020-2023.

TheCable
© 2024 TheCable. All Rights Reserved.

23/01/2025

This is a Self creativity.

21/01/2025

I've just reached 400 followers! I appreciate your ongoing support. I could never have achieved this milestone without each one of you. 🙏🤗🎉

21/01/2025

With Verydarkblackman – I just made it onto their weekly engagement list by being one of their top engagers! 🎉

20/01/2025

Please, everyone, take a moment to listen to this insightful lesson so that we will avoid doing things wrong against ourselves.

20/01/2025

Romans 12:10 NIV

[10] Be devoted to one another in love. Honor one another above yourselves.

Happy Monday

20/01/2025

I'm truly humbled to be recognized as one of AuntyZika's top fans! 🎉

20/01/2025

Piusilo TV has recognized me as one of their top fans, and I am honored! piusilo tv

19/01/2025

A fundamental truth about life that everyone must accept for future reference.

19/01/2025

Good evening to families and friends around the world.

19/01/2025

I achieved an incredible milestone of 321 new followers, created 491 inspiring posts and received 570 uplifting reactions in the past 90 days! Thank you all for your unwavering support. I could not have done it without you. 🙏🤗🎉

19/01/2025

Topics: Not all battles result in victory:
‎
‎Not every battle needs to be fought, as strategically choosing which ones to engage in can ultimately empower the People's Democrats Party (PDP), particularly in light of the impact of Rt Hon Erhiatake Ibori-Suenu's defection to the All Progressive Congress (APC).
‎
‎As she has defected to the opposing party and continues to hold power, the party supremacy will not permit the minority party PDP to declare her seat vacant, contrary to legal provisions, owing to the absence of a chief magistrate or panel judges to render a decision in favor of the People's Democratic Party (PDP), given the All Progressive Congress (APC) maintains power in Nigeria.
‎
‎This is a contentious battle line that has been drawn by the PDP stakeholders in Delta State against the Representative of Ethiope Federal Constituency Members of the Green Chamber, and it is evident that this is a futile fight against her, as all requisite preparations and manpower have been mobilized since she signaled her intention to switch from the former party to the APC, and it may be of interest to everyone to note that all APC stakeholders in Delta State and at the federal level will unequivocally support her to triumph in all cases against her without facing any formidable opposition.
‎
‎Consequently, it is advisable that all political members of the PDP should dispel any notions of declaring her seat vacant. I firmly believe that she is not the first person, since the inception of politics in Nigeria, to decamp as a party representative member to join the ruling party. Nevertheless, all PDP stakeholders should recall that she is the daughter of a lion, a political kingmaker in the state whose influence extends across Nigeria. Under no circumstances will he allow the PDP, the party from which she defected, to hold her hostage.
‎
‎Written by:
‎Comrade Anthony William Ukuedejor.

18/01/2025

A Thriving Community of Frogs Embarking on a Journey Together for Enhanced Resilience:
‎
‎While navigating the woods, a group of frogs encountered a deep pit, into which two of them fell. Their companions, assessing the pit's depth, deemed their survival unlikely. Nevertheless, the two frogs attempted to extricate themselves by jumping out of the pit with considerable force. Despite their efforts, the other frogs continued to dissuade them, emphasizing the futility of their endeavors. Ultimately, one of the frogs succumbed to the pessimistic views of his peers and perished.
‎
‎The other frog maintained his vigorous jumping. Once again, the crowd of frogs loudly exhorted him to end his torment and perish. He jumped even harder and ultimately broke free. Upon his liberation, the other frogs questioned, "Did you not hear us?" The frog disclosed to them that he was deaf. He had misinterpreted their cries as encouragement throughout his struggle.
‎
‎Moral Lesson: The power to create or destroy lies within the words we speak. Offering a kind and encouraging word to someone who is struggling can be a beacon of hope and provide the necessary motivation to overcome challenges. As a result, we must be thoughtful and intentional with our words. We should aspire to speak words that uplift and inspire those around us. The significance of our words cannot be overstated, and we should recognize the lasting impact a single encouraging word can have.

18/01/2025

Kudos to the visionary leader His Excellency Chief James Onanefe Ibori, the driving force behind Delta State's political trajectory who is celebrated for initiatives promoting economic empowerment employment opportunities and infrastructure growth demonstrating an extraordinary leadership style inspiring constituents to strive for excellence.

Address

Jesse Town
Sapele
331102

Website

facebook.com

Alerts

Be the first to know and let us send you an email when Williamgold posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Videos

Shout out to my newest followers! Excited to have you onboard! Ruchi Chimara, Ronillo Villanueva, Ananya Singh Kusum, Judy Ann Jutara, Veronique Amunik, Yumina Malaituka Malaituka