Former Vice-President Atiku Abubakar has decried Nigeria’s rising debt profile, advising the Federal Government to desist from “indiscriminate lending”.
The Peoples Democratic Party candidate in 2019 Presidential Election said Nigeria is servicing its debt and not repaying it.
He said, “Nothing has shocked me in my entire life in public service as the revelation from Nigeria’s First Quarter 2020 financial reports in the Medium Term Expenditure Framework and Fiscal Strategy from the Federal Ministry of Finance, Budget, and National Planning, which shows, alarmingly, that whereas Nigeria spent a total sum of ₦943.12 billion in debt servicing, the Federal Government’s retained revenue for the same period was only ₦950.56 billion.
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