Friday, 9 June 2017

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PDP berates Buhari on Nigeria’s rising debt profile

 PDP berates Buhari on Nigeria’s rising debt profile
The Peoples Democratic Party, PDP has taken a swipe at the President Muhammadu Buhari-led administration for plunging the country into huge debt two years after taking over the reins of government.

The Peoples Democratic Party, PDP, has lashed out at the Muhammadu Buhari administration over the rising debt profile of the country.

The Debt Management Office, DMO recently announced that Nigeria's total debt profile as at May 31, 2017 stood at N19. 16 trillion. Domestic debt was N11.96 trillion in 2016 as against N8.51 trillion recorded in 2015, representing a 40. 71 per cent increase, it said.

The external debt of federal and state governments rose from $9.46 billion to $13.81 in two years, an increase of 45.98 per cent.

Reacting, PDP berated Buhari.

“We are alarmed and bewildered with the suffocating debt profile of Nigeria in just two years of the APC administration,” it stated in a tweet.

“The APC administration is gradually selling the future of this country by the unsustainable debts with no tangible projects,” the party added.


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