adeyemik:
Nigeria is currently using 4 naira out of every 10 naira earned to service her internal and external debts. The country's current debt profile stands at $85.4 billion or NGN33.7 trillion naira. According to the Debt Management Office (DMO), Nigeria’s debt profile stood at approximately N12.12 trillion as at June 2015, while the National Bureau of Statistics (NBS) says, the country’s foreign debt stood at $11.41 billion dollars, while its domestic debts was N14.02 trillion respectively, amounting to N17.5 trillion.

The quantum leap in the country debt profile in the last five (5) years is staggering and of great concern. Nigeria moved from a near debt free nation engineered by Obasanjo/Ngozi, to be a debt filled nation in 2020. How can a country be using over 40% of her earnings to service debt? There is not economic logic in borrowing to consume; borrowing should be for the purpose of expanding the economy, providing revenue yielding infrastructure, thereby making Nigeria the manufacturing hub for Africa, and first choice for foreign direct investments.

The level of our borrow to consume must be curtailed, else we become a pariah state to direct foreign investors. It is important for our leaders to know that the country's loss, is another country's gain.

The Holy bible says ' A good man leaves an inheritance [of moral stability and goodness] to his children’s children. (Proverbs 13:22 AMP)'. What inheritance are we leaving for our children and the ones yet unborn? We need not plant the seed of debt for generation yet unborn to harvest poverty and it will be a great disservice to mortgage the future of generations yet unborn today.

LibertyRep:
....and we're about going for another loan.

Someone or something has to rescue the country.