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Video: "Federal Government Printed N50 To N60 Billion Naira For States To Share" - Governor Obaseki

Godwin Obaseki who is currently the Governor of Edo state has raised an alarm concerning how President Buhari and his administration has printed more than 50 to 60 Billion Naira, for all states in Nigeria to share while they continue borrowing and borrowing from other countries. He said that the country's rising debt profile is in a critical condition because of the huge amount of money that had been borrowed.

He made this known during a meeting with the Transition Committee members at the Government House in Benin city. He said that the major oil investors like Chevron and Shell are no longer investing so much oil like in the past. He also added that shell intends to pull out of Nigeria in the nearest future. In the video, Governor Obaseki said;

"Last month, The federal government printed an addition N50 to N60 Billion naira for all of us to share, in another year or thereabout, where will we get another money to share every month?" He went further stating that they asked the Federal Government to remove subsidy and he said no. By the end of April, they'll still go to Abuja and share more money and by the end of the year, the total borrowing is going to be more than N15 Trillion naira.

Governor Obaseki also expressed his worry concerning the issue of borrowing in the country. He said one day, we will wake up like Argentina and discover that N1000 and N2000 will no longer have value because there's no other means of money coming in. In his words he said "You are just borrowing, borrowing and borrowing without any means of pay back" while referring to the Federal Government. (Channels TV).

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