Expdonaloaded News; Osinbajo, APC misleading Nigerians on outstanding govt debt – PDP

Peoples Democratic Party (PDP) has faulted the claim of Vice President-elect, Prof. Yemi Osinbajo, on the state of the economy, particularly the accurate picture on outstanding government debt.

Speaking last week in Abuja during the opening of a two-day Policy Dialogue on the Implementation of the Agenda for Change, Prof. Osinbajo had put the nation’s local and international debt profile at $60 billion with a 2015 debt-serving bill of N953.6 billion, representing 21 per cent of 2015 budget.
But National Publicity Secretary of PDP, Olisa Metuh, in a statement yesterday claimed the bulk of the $63.7 billion debt was incurred by APC states.Metuh said: “It is indeed unfortunate that the vice president-elect, who has the details of the debt stock chose to be economical with the truth and mislead Nigerians just to discredit the current PDP-led administration and rationalize APC’s unpreparedness for governance.post by expdonaloaded.blogspot.com..“Prof. Osinbajo is aware that the $63.7 billion is made up of external and domestic debts belonging not only to the Federal Government but to federal and state governments and accumulating since the 1960s, yet he deliberately misrepresented the facts to give the unsuspecting public the impression that the amount was exclusively incurred by the current Federal Government.“Perhaps the vice president-elect avoided the details so as not to expose the fact that the APC-controlled Lagos State has the highest external debt stock of $1.169 billion as well as the highest domestic debt stock of N278, 867 billion.”“Furthermore, we find it unacceptable for the vice president-elect to attempt to mislead Nigerians into believing that the total federal debt component was accumulated under the President Goodluck Jonathan-led administration, when it is on record that a greater chunk of the amount was inherited.”The party said it was also on record that part of the contemporary borrowing from the domestic bond market was occasioned by the global economic and financial crisis as well as the downturn in crude oil revenue, which adversely affected other economies of the world.

To download click the picture to get nwanyi di ya bu eze by Expdona aka finish gravity