Advertisements
Adanla Consult : Exchanger

Atiku Laments Nigeria’s Rising Debt Profile, Blasts Buhari

Laments , Blasts

The presidential candidate of the Peoples Democratic Party ( ) for the 2019 election Atiku Abubakar has lamented the Nigeria’s rising debt profile.

Atiku in a statement on Wednesday, said the the development is turning Nigerians into beggars and wondered what the money could have been used for.

“On May 29, 2015, our national debt profile was at a very healthy ₦12 trillion. However, after four years of profligate spending, and even more irresponsible borrowing, our national debt doubled to ₦24.3 trillion by December 2018,” the statement read.

Advertisements

“As alarming as this is, what is more troubling is that between December 2018 and March 2019, the administration of General Buhari added an additional and unprecedented ₦560 billion debt to our national debt profile.

ALSO READ!  Check Out Full List Of AFCON 2019 Leading Scorers

“What could this junta have needed that amount for? If you take those dates into account, they fall on the period of electioneering, when monies were freely distributed by officials of this government in the name of Tradermoni and other election gimmicks that were discontinued after the election.”

It added that “We find it inconceivable that Nigeria could have had such unprecedented borrowings in the midst of almost unimaginable sorrowing, which resulted in our nation becoming the world headquarters for extreme poverty and the global capital of out of school children, even as we slipped in the Corruption Perception Index of Transparency International.

ALSO READ!  Senate Confirms Tanko Mohammad As Chief Justice Of Nigeria

“As someone who headed the National Economic Council that paid off Nigeria’s entire debt under the visionary leadership of President Olusegun Obasanjo, Atiku Abubakar has the moral authority to call those who are turning Nigeria into a beggar nation to halt the drift into unsustainable borrowing.

“We cannot continue to borrow to pay salaries and support luxuries. Already, over 50% of our revenue is going towards debt servicing, not even debt repayments.

“We raise this alarm as responsible citizens and call on other lovers of Nigeria to speak up as we have no other nation to call our home, but Nigeria.”

Loading...
About Alamu Tosin 6665 Articles
Tosin is the Founder of naijaparry.com.ng, an entertainment based website founded in August 2015, poised at giving out accurate information as well as assisting both graduates and undergraduates with career advice towards achieving their set goals.

Be the first to comment

Leave a Reply

Your email address will not be published.


*


This site uses Akismet to reduce spam. Learn how your comment data is processed.