Nigeria’s Vice President-elect, Prof. Yomi Osinbajo, has painted a dispiriting picture of the national economy, by releasing mind-boggling statistics and making a verdict: Nigeria’s economy is in its worst shape in history.
According to the cerebral senior advocate of Nigeria, Nigeria’s total debt, local and international stands at US$60billion.
*Debt service stands at N953.6billion, representing 21 per cent of the 2015 budget.
*Nigeria borrows to fund recurrent expenditure
*110 million of our 170 million people live in extreme poverty.
*A few Nigerians have cornered Nigerian resources.
*Two-thirds of Nigerian states can’t pay salaries as oil revenue dwindles
*Federal Government not better off as it borrows to fund recurrent expenses
Osinbajo gave these statistics in his remarks at the opening of a 2-day Policy Dialogue on the Implementation of the Agenda for Change, which began in Abuja on Wednesday.
Osinbajo said the manifesto of the All Progressives Congress offers a vision of shared prosperity and socio-economic inclusion for all Nigerians that leaves no one behind in the pursuit of a prosperous and fulfilling life.
According to him, the goal of the policy dialogue is to interrogate the positions and propositions before a wider audience and to lunch a robust public conversation on policy directions and priorities that will help inform the incoming administration’s approach in the next four years.
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That is not an excuse,Nigeria economy was already damage before Jonathan came in,what are you talking about?
Every one has forgotten the "80's when year after year the federal military government dominated by moslem hausa fulani declared that locusts have ravaged farm crops in muslim Northern Nigeria and proceeded to grant their farmers windfalls of financial relief from the purse strings of the Nigerian people for no other reason than that they can.