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Atiku berates Buhari, Says he put Nigeria in huge debts

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Former Vice President Atiku Abubakar said on Friday that President Muhammadu Buhari‘s government has done nothing but put Nigeria in huge debt.

Latest Nigeria News reported that Debt Management Office (DMO) revealed on Wednesday the data on public debt including the internal and external debts of the federal government, the state government and the FCT are in ₦24.947 Trillion.

DMO said: “At ₦24.947 Trillion (US$ 81.274 Billion) as at March 31, 2019, the Total Public Debt grew marginally by 2.30% when compared to the figure of ₦24.387 Trillion (US$ 79.437 Billion) as at December 31, 2018.

“The increase of ₦560.009 Billion in the Total Public Debt in Q1 2019, was accounted for largely by Domestic Debt which grew by ₦458.363 Billion.

“Increases were recorded in the Domestic Debt Stock of the FGN, States and the FCT. External Debt also increased by ₦101.646 Billion during the same period.

In a series of post on Twitter, the presidential candidate of the Peoples Democratic Party (PDP) claimed that Nigeria is now not only poorer than they were in 2015 but owe more than twice what we did in 2015.

Atiku wrote: “Nigeria’s debt has more than doubled from ₦12 trillion in 2015, to ₦24.9 trillion in 2019, yet we became the world headquarters for extreme poverty. Irresponsible borrowing results in unprecedented sorrowing. We mustn’t saddle future generations with debt instead of prosperity.

“Without the checks and balances occasioned by a truly independent and self-accounting Legislature and Judiciary, as co-equal and non-subordinate arms of government, we will continue to have a profligate executive that borrows to sustain its greed and not the nation’s need.

“As it stands today, every man, woman and child in Nigeria is now not only poorer than they were in 2015, additionally, we all individually owe more than twice what we did in 2015. We may not have participated in the profligate borrowing, but we all suffer the resultant sorrowing.

“As it stands today, every man, woman and child in Nigeria is now not only poorer than they were in 2015, additionally, we all individually owe more than twice what we did in 2015. We may not have participated in the profligate borrowing, but we all suffer the resultant sorrowing.”

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