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Atiku Raises Alarm Over Nigeria’s N25.6trn Debt - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Atiku Raises Alarm Over Nigeria’s N25.6trn Debt (17620 Views)

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Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by bellachibaby(f): 5:56pm On Jul 10
The presidential candidate of the Peoples Democratic Party (PDP) in the February 23 presidential election, Atiku Abubakar, has raised the alarm on over the nation’s N25.6trn debt, saying it’s unsustainable.

Atiku said the increasing debt profile of the country is becoming more than a source of concern, adding that the situation has got to a stage where all genuine lovers of Nigeria ought to raise an alarm. Thickmatch reports'

Atiku, in a statement Wednesday by his media adviser, Paul Ibe, recalled that the nation’s debt profile as of May 29, 2015 when President Muhammadu Buhari took over, was ₦12 trillion.

“However, after four years of profligate spending, and even more irresponsible borrowing, our national debt doubled to ₦24.3 trillion by December, 2018.

“As alarming as this is, what is more troubling is that between December 2018 and March 2019, the administration of General Buhari added an additional and unprecedented ₦560 billion debt to our national debt profile.

“What could this junta have needed that amount for? If you take those dates into account, they fall on the period of electioneering, when monies were freely distributed by officials of this government in the name of Tradermoni and other election gimmicks that were discontinued after the election”, Atiku added.

The one time Vice President said it’s inconceivable that Nigeria could have had such unprecedented borrowings in the midst of almost unimaginable sorrowing.

This, he observed, has resulted in the country becoming the world headquarters for extreme poverty and the global capital of out of school children, noting further that Nigeria has slipped in the Corruption Perception Index of Transparency International.

Continuing, Atiku said, “As someone who headed the National Economic Council that paid off Nigeria’s entire debt under the visionary leadership of President Olusegun Obasanjo, Atiku Abubakar has the moral authority to call those who are turning Nigeria into a beggar nation to halt the drift into unsustainable borrowing.

“We cannot continue to borrow to pay salaries and support luxuries. Already, over 50% of our revenue is going towards debt servicing, not even debt repayments.

“We raise this alarm as responsible citizens and call on other lovers of Nigeria to speak up as we have no other nation to call our home, but Nigeria”

https://www.google.com/amp/s/thenationonlineng.net/atiku-raises-alarm-over-nigerias-n25-6trn-debt/amp/

37 Likes 3 Shares

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by chiefolododo(m): 6:07pm On Jul 10
Buhari is a curse to this nation

121 Likes 9 Shares

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by AbuuBilaal(m): 6:14pm On Jul 10
Firstly, this corrupt old man should bury his face in dirt. We all know you have no good for this nation.

Secondly, perhaps this man forgot that there's interest on the money that past president's borrowed. I'm almost certain that a large part of the figure is due to the interest on the previous debts.

Lastly, my advise for this man is for him to assist in progress not inciting gullible masses with erroneously interpreted and presented figures.

But come to think of it. If this man became president, do you think Nigeria's debt won't triple by 2023?

Ponder!

29 Likes 7 Shares

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Newshubs: 6:15pm On Jul 10
shocked shocked shocked
One thing I know for sure is the fact that Atiku really knows how to play opposite really well! And no harm to to that in every developed country. That's the only way forward in every country

Anyway, i will Build a Professional Logo or Company for your Product or Company For 1k. Offer valid today only. See my info below to to chat me up on WhatsApp

8 Likes

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Benekruku(m): 6:15pm On Jul 10
grin grin grin

1 Like

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Abeymills(m): 6:15pm On Jul 10
If as at today everything about my life is almost in shred then with dis kind of news that means it's true
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by femtex007(m): 6:15pm On Jul 10
Help us pay it na

7 Likes

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by bellachibaby(f): 6:15pm On Jul 10
bellachibaby:
The presidential candidate of the Peoples Democratic Party (PDP) in the February 23 presidential election, Atiku Abubakar, has raised the alarm on over the nation’s N25.6trn debt, saying it’s unsustainable.

Atiku said the increasing debt profile of the country is becoming more than a source of concern, adding that the situation has got to a stage where all genuine lovers of Nigeria ought to raise an alarm. Thickmatch reports'

Atiku, in a statement Wednesday by his media adviser, Paul Ibe, recalled that the nation’s debt profile as of May 29, 2015 when President Muhammadu Buhari took over, was ₦12 trillion.

“However, after four years of profligate spending, and even more irresponsible borrowing, our national debt doubled to ₦24.3 trillion by December, 2018.

“As alarming as this is, what is more troubling is that between December 2018 and March 2019, the administration of General Buhari added an additional and unprecedented ₦560 billion debt to our national debt profile.

“What could this junta have needed that amount for? If you take those dates into account, they fall on the period of electioneering, when monies were freely distributed by officials of this government in the name of Tradermoni and other election gimmicks that were discontinued after the election”, Atiku added.

The one time Vice President said it’s inconceivable that Nigeria could have had such unprecedented borrowings in the midst of almost unimaginable sorrowing.

This, he observed, has resulted in the country becoming the world headquarters for extreme poverty and the global capital of out of school children, noting further that Nigeria has slipped in the Corruption Perception Index of Transparency International.

Continuing, Atiku said, “As someone who headed the National Economic Council that paid off Nigeria’s entire debt under the visionary leadership of President Olusegun Obasanjo, Atiku Abubakar has the moral authority to call those who are turning Nigeria into a beggar nation to halt the drift into unsustainable borrowing.

“We cannot continue to borrow to pay salaries and support luxuries. Already, over 50% of our revenue is going towards debt servicing, not even debt repayments.

“We raise this alarm as responsible citizens and call on other lovers of Nigeria to speak up as we have no other nation to call our home, but Nigeria”

https://thickmatch.com/atiku-raises-alarm-nigerias-n25-6trn-debt//amp/
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by MrAnele(m): 6:15pm On Jul 10
See money




I build websites and I am based in Abuja, see my signature (09011639568) no advance payment
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Onyeedum(m): 6:15pm On Jul 10
Atiku, my man wink

2 Likes

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Benekruku(m): 6:15pm On Jul 10
chiefolododo:
Buhari is a curse to this nation

7 Likes

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Racoon(m): 6:15pm On Jul 10
Guess they were shouting wastage & corruption during the time of the previous administration but have now gone mute?

Now these super-looters are mortgaging Nigeria into eternal indebtedness.The hypocrisy of all who constitute the APC govt is really nauseating.

28 Likes

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Fhemmmy: 6:16pm On Jul 10
chiefolododo:
Buhari is a curse to this nation

And during the time of OBJ/Atiku, what was their achievement or isn't he enjoying the money stolen at that time now?

6 Likes 3 Shares

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by obimiheka(m): 6:16pm On Jul 10
Buhari I will tell my mummy for u..
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by kollinz1234: 6:16pm On Jul 10
Buhari has killed us. He has borrowed more than PDP borrowed in the 16 years rule.

Anyway, I voted him to revenge those people that voted him in 2015

50 Likes 3 Shares

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by martineverest(m): 6:16pm On Jul 10
I hate when ex presidents, vice president, governors,senators etc that fleeced nigerian treasury dry wil come out and start giving advice/sympathy/criticism as if they care about the nation...what did they do when they had all the time in the world to change Nigeria

I hate hypocrites

23 Likes 5 Shares

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Nobody: 6:17pm On Jul 10
We dont care anymore. Anything wey wan happen go happen

7 Likes

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by RealLordZeus(m): 6:17pm On Jul 10
External Debt in Egypt increased to 96612.10 USD Million in the fourth quarter of 2018 from 93130.70 USD Million in the third quarter of 2018.


External Debt in South Africa increased to 176004 USD Million in the first quarter of 2019 from 172384 USD


External Debt in Nigeria decreased to 21591.68 USD Million in the fourth quarter of 2018 from 29591.68 USD Million in the third quarter of 2018.

Source tradingeconomics.com


NOTE: I'm not in anyway justifying useless debt but every developing countries have a lot of this debt on their neck

Atiku should research further on whether the funds are not been executed for the purpose of which they are collected, not raising Nigerian heart rate with figures

7 Likes 1 Share

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Britishcoins(m): 6:18pm On Jul 10
Atiku face ur business and leave us alone, we Afonja Muslims are solidly behind our Master, do want our source of black ewedu to stop.

I love our Hausa Master and we are ready to wash their Long prick

8 Likes 3 Shares

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by 247Dior(m): 6:18pm On Jul 10
sad
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by obayendo1010(m): 6:18pm On Jul 10
Doom
Hope it won't affect my small savings
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by haser45: 6:19pm On Jul 10
This debt is getting out of hand oo

2 Likes

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by AmazingELixir: 6:20pm On Jul 10
grin
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by nextstep(m): 6:20pm On Jul 10
At least PMB is consistent:
1983 - sufferhead
2015 - hardship
2019 - next level

18 Likes 1 Share

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by CptCharlesVane: 6:20pm On Jul 10
Everybody knows but the problem with people like Atiku is that he wouldn't have said a thing about this if he was still in APC. Now is 'General Buhari' grin Kontinu

2 Likes

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Reference(m): 6:21pm On Jul 10
The cleanup will begin in 2023.
Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Yankee101: 6:21pm On Jul 10
People don't know the combination of dumb, incompetence and corruption under buhari is very dangerous.

Taking big loans, no major end to end project executed and future generations left to pay back.

Now you'll understand why baba iyabo is angry when all his legacy of debt forgiveness is being swept away

1 Like

Re: Atiku Raises Alarm Over Nigeria’s N25.6trn Debt by Dukeemmanuel44(m): 6:21pm On Jul 10
This Atiku need sense, recieve one

2 Likes

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