Okwe Obi, Abuja
The National Chairman of the Action Democratic Party (ADP), Yagbaji Sani, has raised the alarm over the country’s current debt profile which now stands at N25.7 trillion.
This concern is coming on the heels of a fresh move by the Federal Government to borrow additional $30 billion to fund development projects.
Sani urged members of the National Assembly to reject the proposal for failure of the administration to present feasible repayment plan.
Addressing newsmen yesterday in Abuja, the former presidential candidate said: “The debt profile of the country has become very alarming since the coming of President Buhari to office in 2015.
“According to the Debt Management Office (DMO), Nigeria’s current foreign and domestic debts as of November 2019 have hit N25.7 trillion from N24.39 trillion.
“As alarming as this situation is the Buhari government is proposing to borrow an additional $30 billion dollars purportedly to fund the development projects even as he has failed to present a concrete repayment package to the National Assembly.
Sani further noted that the challenges facing the country had overwhelmed the APC-led government. “The problems seem to be increasing amid other emerging crises that appear to have overwhelmed the current government,” he stated.