Abuja - The Minister of Finance came under
heavy criticism after it emerged the country's
debts were ballooning. Analysts singled out Minister Ngozi Okonjo-Iweala
for the spiralling debt. On Monday, records from the Debt Management
Office (DMO), showed that the country total debt
as of June 30, external debt stood at $6.92bn
(about N1.08tn). Domestic debt stood at N6.85tn. DMO Director-General, Abraham Nwankwo, said
the Federal Government had over-borrowed from
domestic sources. A social commentator, Omoaka Raymond, blamed
Okonjo-Iweala. “The Finance Minister lacks the capacity to
manage Nigeria Economy; she is just using her
academic degree to deceive Nigerians,”he said. A former member of the House of Representative
and Executive Security of Anti-Corruption
Network, Dino Melaye, said the policies the
current administration were implementing, and
spearheaded by the finance minister were futile. "It is very unfortunate that this (rising debt) is the
result of the transformation agenda of the present
administration, being championed by the Finance
Minister and coordinator of national economy,
Ngozi Okonjo-Iweala,"