By Henry Umoru ABUJA—

The Debt Management Office, DMO, said yesterday that the nation’s total debt profile currently stood at $57.39 billion. Director-General of DMO, Dr. Abraham Nwankwo, who disclosed this when
he appeared before the Senator Shehu Sani’s Committee on Foreign and Local Debts to defend his agency’s budget proposal, said the total debt stock comprised external and domestic debts of the federal government, those of the 36 states of the federation and the Federal Capital Territory, FCT, as at December 31, 2016.

This came on a day the Presidency slashed its 2017 budget by N3 billion, in view of the present economic recession in the country. Nwankwo explained that of the total debt stock, external debt stood at $11.41 billion, while domestic debt stock was put at $45.98 billion.

Abraham Nwankwo DG, Debt Management Office According to him, the 36 states and FCT accounted for about 32.45 percent of the total external debt as at December 31,2016, while the federal government accounted for about 67.55 percent. He added that the disaggregated external debt stock of the 36 states and FCT as at June 2016 was $3.65 billion, while the disaggregated domestic debt stock of the states and the FCT as at September 2016 was N2,822.89 billion.

Source :http://www.nairausd.com/2017/02/nigerias-debt-profile-now-5739bn.html

And the mad man from Daura wants to add an additional $30 billion to it to make our youths perpetual slaves to Western slave masters.

And they are telling us the dumb Herdsman means well for Nigerians.

The key paragraphs in his dodgy report are the two below.

The June 2015 figure quoted below was ONLY for external debt.

The debt profile stood at N2.03trn ($10.32bn) as at the end of June 2015, according to record.

Now the December 2016 figure below was for BOTH external and domestic debt.

Nwankwo also explained that the total debt profile of $57.39bn is made up of external debt stock of $11.41billion (N3.48trn and domestic debt stock of $45.98bn (N13.88trillion).

I really hope Nwankwo was misquoted and that he is not intentionally trying the mislead the wailers.

This is what the figures look like.