Nigeria bedeviled by poverty, debt – Osinbajo


Prof. Yemi Osinbajo
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 …Read More

Source:: PM Newspaper