Naija Debt Don Grow Reach N26.215trillion

Debt Management Office (DMO) don announce say Nigeria debt don rise reach N26.215trillion.

Naija public debt wey dey N12.118trillion before for June 2015, don add N14trillion of d money wey Federal Government and State Government borrow within five years of President Muhammadu Buhari.

Ms Patience Oniha, Director General for DMO, talk say d reason wey make Naija chop dis plenti gbese b say, d countri economy no good, we no dey use Public Private Partnership (PPP) to do project for d countri, and Naija no divert im economy, say na crude oil we still dey depend on. She say na dis kind reasons dey cause big problem for Naija budget and make government dey borrow money.

D public debt wey show say between September 2018 to September 2019, Naija don chop N4trillion gbese.

Ms Oniha talk say most of d money wey government borrow, na on top projects like Lagos-Kano Rail line and Mambila Power Projects dem invest am on top.

Naija total debt don reach 18.47%, and still dey below 25% debt wey dem allow make countries dey chop. Oniha talk say since d per cent of Naija debt still low, say Naija still get plenti chance to borrow more money take do project.

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