Nigerian Govt Faults Claim By Atiku On Rising Debt Profile

Lai Mohammed Source: Twitter photo

Nigeria’s Minister of Information and Culture, Lai Mohammed has faulted the claim by former vice president Atiku Abubakar who yesterday cried out over what he called Nigeria’s rising debt profile.

Concise News reported yesterday that Atiku complained about Nigeria servicing debts which he says is not debt repayment. He also lamented that the government is robbing the future of children with their greed.

In reaction, Lai Mohammed through his Media Aide, Segun Adeyemi, stated that constructive criticism as issued by the former VP ought to be based on verifiable facts.

According to Mohammed: “There is no doubt that former Vice President Atiku Abubakar loves our country and wishes it well, otherwise he would not have sustained his serial quest for the country’s highest position. One can only hope that his resort to the use of such words as ‘precipice’, ‘foreclosure’ and ‘economic ruin’ does not reflect anything but best wishes for the country at this time.”

Lai Mohammed added that the figure quoted by Atiku to show the country’s debt to revenue ratio of 99% in the first quarter of 2020 is not found in the Medium-Term Expenditure framework and Fiscal Strategy Paper as claimed by him.

“We are also not able to ascertain the source of the first quarter figures of N943.12 billion for debt servicing and N950.56 billion for retained revenue, which he also quoted.

“Therefore, the statement that debt servicing does not equate debt repayment is not only wrong, but ill-informed.”

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