he Federal Government has
revealed that the allegation by the
Vice-President-elect, Prof. Yemi
Osinbajo, that the Goodluck
Jonathan administration incurred a
$60 billion debt during its term was
miscalculated and false.
The Coordinating Minister of the
Economy and Minister of Finance,
Dr. Ngozi Okonjo-Iweala disclosed
this to journalists at the weekend,
stressing that the country’s current
debt could be traced as far back as
1960 and included Federal
Government, as well as States
debts.
Okonjo-Iweala put the country’s
debt profile at $63.7 billion for both
domestic and external debt and
stated that the figure represented
debt that has been accumulated
over a long time by several
administrations and was not only
that of the Jonathan administration,
as claimed by Prof. Osibanjo.
Okonjo-Iweala stated, “All the
borrowings (external) were
borrowed under concessionary
terms with long moratorium
payments and these dates back to
1960; so no $60billion is
accumulated by this
administration.”
Okonjo-Iweala also pointed out that
before the fall in oil price, the
Federal Government had already
reduced the annual rate of
borrowing.
The Finance Minster said it was
wrong to say the Jonathan
administration was leaving a $63
billion debt because the country’s
debt stock was accumulated over a
long time by several
administrations.
Prof. Osinbajo had accused the
Jonathan led government for
accumulating the worst debt ever in
the history of the Nigeria.
Osinbajo had put the Nation’s local
and international debt profile at US
$60bn, with a 2015 debt-serving bill
of N953.6bn, representing 21 per
cent of this year’s budget.
Okonjo-Iweala added that contrary
to the recent negative comments
about the economy by Osinbajo and
the APC, the Jonathan led
administration “is leaving positive
economic legacies behind which
nobody can wish away because
history cannot be rewritten.”
In her breakdown of the debt stock,
she said of the $63 billion, $9.7
billion is external, representing 15
percent, while domestic is $54.61
billion representing 85 percent.
According to her, it was important
to note that 20 percent of the
domestic debt stock belonged to the
States, while 80 percent belonged to
the Federal Government.
Concerning the domestic debt figure,
she said $11.57 billion was
outstanding in 2002 while $17.3
billion was accumulated between
2005 and 2011.
The Minister pointed out that $18.1
billion was accumulated between
2012 and 2015, adding that Nigeria
has one of the least Gross Domestic
Product, GDP figures to debt stock
ratio.
Okonjo-Iweala noted that the
Government had in fact done well in
managing the country’s debt profile
by being the first administration in
the history of the country to setup a
sinking fund to retire bonds which
had fallen due.
She said N75 billion worth of bonds
were disposed of through this
strategy.
Okonjo-Iweala stressed that the
Government had used the right tools
to manage the economy and had
only borrowed at very low
concessionary rates to fund
important infrastructural initiatives
in agriculture, power, roads, health,
water resources and provision of
infrastructure.
Okonjo-Iweala further stated that
the year 2015 would be a difficult
one, largely because of the over 50
percent fall in global oil prices.
Some Nigerians that reacted to
Okonjo-Iweala statements agreed
that as an academician, Prof.
Osibanjo should have carried out
valid research before coming out to
make statements embarrassing,
hoping to maim the Jonathan-led
government.
Prof. Osibanjo’s faulty analyses and
accusation seems to be geared
towards ridiculing President
Goodluck Jonathan and his
Government, considering his initial
deliberate refusal to attend
Jonathan’s farewell service at the
Aso rock Villa Chapel in Abuja
http://www.post-nigeria.com/60bn-debt-profile-okonjo-iweala-lays-into-osinbajo/

OK o

She is not afraid baba iyabo, right?... That old man fights dirty and does not forgive.

What about the private jets of Alison,gej and co. Was I their personal money

okonjo in yoruba means dancing d!ck no wonder common sense dey hungry her

everybody is running and defending them selves.

jantofubu:
okonjo in yoruba means dancing d!ck no wonder common sense dey hungry her

you bringing ethnic uncircumcised dick dancing to our sisters we crush you .



amala farm animals .

This is a reminder to all it may concern. they said they were going to crush Biafra in 3 days but it didn't happen the way they expected and they were surprised. a nation couldn't conquer a little region in 3 years with all the support they got from Britain, Russia. God was with Biafra. just like Gen. Ojukwu said " no power in black Africa can subdue Biafra" and it is true. Our fathers staked their lives for our freedom and now it is our time to make this a reality with the help of GOD. Let us Arise, and posses that which is Ours. Biafra shall live and not die. the time is now. don't give up the fight. All the external enemies couldn't crush Biafra. Long Live Biafra. Freedom has come. GOD is with us..

.

I hope this makes the front page

Welcome to the government of accusations and excuses.

Can these people just stop this already!? There is no fuel!

Time will tell who the liars are.

Is Osinbajo not supposed to be a professor? Chai!

Back2Bust:
he Federal Government has
revealed that the allegation by the
Vice-President-elect, Prof. Yemi
Osinbajo, that the Goodluck
Jonathan administration incurred a
$60 billion debt during its term was
miscalculated and false.
The Coordinating Minister of the
Economy and Minister of Finance,
Dr. Ngozi Okonjo-Iweala disclosed
this to journalists at the weekend,
stressing that the country’s current
debt could be traced as far back as
1960 and included Federal
Government, as well as States
debts.
Okonjo-Iweala put the country’s
debt profile at $63.7 billion for both
domestic and external debt and
stated that the figure represented
debt that has been accumulated
over a long time by several
administrations and was not only
that of the Jonathan administration,
as claimed by Prof. Osibanjo.
Okonjo-Iweala stated, “All the
borrowings (external) were
borrowed under concessionary
terms with long moratorium
payments and these dates back to
1960; so no $60billion is
accumulated by this
administration.”
Okonjo-Iweala also pointed out that
before the fall in oil price, the
Federal Government had already
reduced the annual rate of
borrowing.
The Finance Minster said it was
wrong to say the Jonathan
administration was leaving a $63
billion debt because the country’s
debt stock was accumulated over a
long time by several
administrations.
Prof. Osinbajo had accused the
Jonathan led government for
accumulating the worst debt ever in
the history of the Nigeria.
Osinbajo had put the Nation’s local
and international debt profile at US
$60bn, with a 2015 debt-serving bill
of N953.6bn, representing 21 per
cent of this year’s budget.
Okonjo-Iweala added that contrary
to the recent negative comments
about the economy by Osinbajo and
the APC, the Jonathan led
administration “is leaving positive
economic legacies behind which
nobody can wish away because
history cannot be rewritten.”
In her breakdown of the debt stock,
she said of the $63 billion, $9.7
billion is external, representing 15
percent, while domestic is $54.61
billion representing 85 percent.
According to her, it was important
to note that 20 percent of the
domestic debt stock belonged to the
States, while 80 percent belonged to
the Federal Government.
Concerning the domestic debt figure,
she said $11.57 billion was
outstanding in 2002 while $17.3
billion was accumulated between
2005 and 2011.
The Minister pointed out that $18.1
billion was accumulated between
2012 and 2015, adding that Nigeria
has one of the least Gross Domestic
Product, GDP figures to debt stock
ratio.
Okonjo-Iweala noted that the
Government had in fact done well in
managing the country’s debt profile
by being the first administration in
the history of the country to setup a
sinking fund to retire bonds which
had fallen due.
She said N75 billion worth of bonds
were disposed of through this
strategy.
Okonjo-Iweala stressed that the
Government had used the right tools
to manage the economy and had
only borrowed at very low
concessionary rates to fund
important infrastructural initiatives
in agriculture, power, roads, health,
water resources and provision of
infrastructure.
Okonjo-Iweala further stated that
the year 2015 would be a difficult
one, largely because of the over 50
percent fall in global oil prices.
Some Nigerians that reacted to
Okonjo-Iweala statements agreed
that as an academician, Prof.
Osibanjo should have carried out
valid research before coming out to
make statements embarrassing,
hoping to maim the Jonathan-led
government.
Prof. Osibanjo’s faulty analyses and
accusation seems to be geared
towards ridiculing President
Goodluck Jonathan and his
Government, considering his initial
deliberate refusal to attend
Jonathan’s farewell service at the
Aso rock Villa Chapel in Abuja
http://www.post-nigeria.com/60bn-debt-profile-okonjo-iweala-lays-into-osinbajo/

Just watch and see how Politics will turn this pastor into balawo.

And why should I believe whqt this frog eye fat cheeck biatch is saying?

Pple are just so funny. Imagine saying gej owns jet ability, what abt OGUN state governor dt bought jet hmmnnn

Osinbajo never said GEJ'S administration incurred $60 billion, He said their administration is inheriting a debt of $60 billion. Children of bitterness, stop deceiving yourselves

Abba999:




Just watch and see how Politics will turn this pastor into balawo.

Thought he is a pastor. He deliberately refused to attend GEJ's farewell service, was that not an act of animosity that shudn't come from a man of God?

Does he preach with the Quran ?

Those who now use propaganda in Nigerian political scene over cloak their statements with heavy dosage of falsehood which if propely observed, one can figure out incompetence and the feel of under-preasure on the part of the propagandalists... This is not a good signal

A lying professorional pastor.
The time of propaganda is gone.

Old news

Osibanjo said Jonathan's Govt is leaving behind a $60bn debt

Okonjo Iweala said GEJ is only responsible for $23bn addition to that $60bn

Are they not still leaving $60bn debt behind? Is anything false in what the VP-elect said?

PedroJP:




Thought he is a pastor. He deliberately refused to attend GEJ's farewell service, was that not an act of animosity that shudn't come from a man of God?

Does he preach with the Quran ?

Thank u jari. Abeg make we share popcorn while the film rolls.

texazzpete:
Old news

Osibanjo said Jonathan's Govt is leaving behind a $60bn debt

Okonjo Iweala said GEJ is only responsible for $23bn addition to that $60bn

Are they not still leaving $60bn debt behind? Is anything false in what the VP-elect said?

Aunty "sentimental" its called propaganda. please 23bn isn't 60bn. As the so called man of god he's referred to, why can't he speak in clear terms and in truth? Why did he boycott GEJ's handover service?

NeduLuiZ:
What about the private jets of Alison,gej and co. Was I their personal money

Are U daft?

Genius100:
Osinbajo never said GEJ'S administration incurred $60 billion, He said their administration is inheriting a debt of $60 billion. Children of bitterness, stop deceiving yourselves

young man, what is the difference,who are they inheriting it from.

TRIBALSTOOGE:



you bringing ethnic uncircumcised dick dancing to our SISTERS we crush you .



amala farm animals .

who unchained this irrational bush dog? shuu... Im nt a tribal bigot lyk u..

And some idiots were telling us to respect this woman. Is she older than Osinbajo?