Barrister Olusegun Bamgbose, Esq., a chieftain of the New Nigerian Peoples Party, NNPP, has cried out that Nigeria’s economy might be grounded in the next nine months.He noted that the economy was currently in very bad shape due to poor management, adding that the Buhari government had failed woefully to take necessary precautions to prevent it from nose-diving.
“Buhari’s penchant for foreign loans is alarming and the most unfortunate aspect of it all is that almost 30 -35% of the loans are embezzled by politicians and government agencies. “It’s on record that Nigeria records debt service to revenue ratio of 98% between January and May 2021, in essence, the Federal Government spent a whopping 1.8 trillion on debt servicing in the first five months of the year, representing about 98% of the total revenue generated in the same period.
“A cursory look at the data revealed that the total aggregate revenue generated by the Federal Government between January and May 2021, stood at N1.84trn bearing in mind that N1.8trn was used for debt servicing.
This bamgbose person that talks anyhow from his teeth, is Nigeria economy not grounded now what else remain
Economist oshi..be talking nonsense
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Source: GuardianNigeria - 🏆 1. / 94 Read more »
Source: GuardianNigeria - 🏆 1. / 94 Read more »