Former Vice-President Atiku Abubakar has charged the Federal Government to ensure prudent management of the nation’s resources in order to secure it for future generations.
He said this in a statement titled, “We Must Keep Nigeria Financially Solvent For Future Generations,” which he signed in Abuja, on Friday.
He recalled that on June 16, 2020, he sounded an alarm over the nation’s rising debt profile which he noted had reached unsustainable levels.
According to him, the fact that the country was spending over 90 per cent of its revenue on debt servicing was unhealthy and unsustainable.
Atiku said, “That warning was a patriotic one, devoid of partisanship, and was meant as wake up call to prevent the nation from going into insolvency.
“At that time, I said, ‘We are on a precipice and if revenue figures do not rise quickly, Nigeria risks a situation where revenue cannot even sustain its debt servicing obligations. Meaning that we may become insolvent and our creditors may foreclose on us, as has occurred in Sri Lanka and the Maldives.’
“The alarm I sounded last year is now sounding louder.
“Interestingly, on Thursday, August 26, 2021, the Budget Office of the same administration released a statement to the effect that Nigeria made N2.23tn revenue in the first half of 2021, and spent N2.02tn on debt servicing, representing 90.58 per cent of National revenue in the period under review (H1).”
- How Ovie Omo-Agege Was Sent To Rig Me Out Of Osun Guber Race In 2018 – Lasun Yusuff
- APC Didn’t Win 2018 Guber Election In Osun – Lasun Yussuf Alleges, Says Nobody Can Stop His 2022 Gov Ambition
- ‘APC Did Not Win 2018 Governorship Election In Osun’ – Gov aspirant, Lasun Yusuf
- APC Elders Caucus Member, Lasun Yusuf Confirms 2018 Rigging In Favour Of The Party
- Akin Ogunbiyi Bags OAU Distinguished Alumnus Award
News5 days ago
How Ife LG Workers Buried OAU MBA Student On Police Directive – Lawyer
News4 days ago
Olufon Stool: Why Odunolu Ruling House Cannot Produce The New King – Oluyeyin Ruling House
News4 days ago
Tragedy As FEDPOFFA Lecturer Slumps, Dies
News3 days ago
Akure North/South By-Election: Group Seeks Support For Adesida’s Reps Ambition