In 2019, the national debt of Nigeria amounted to around 111.54 billion U.S. dollars and before the end of year 2021, Nigeria overall borrowings are going to be around N15-N16 trillion.
Obaseki advice is coming hours after the the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed faulted the claim by the Edo State Governor that the Federal Government printed between N50 billion and N60 when the federal allocation for March was insufficient for state to share.
But on Wednesday, the Nigerian Government stated that the claim made by the Edo State Governor, that N60 billion was printed as top-up for the Federation Account Allocation Committee (FAAC) in the month of March is false.
This was disclosed by the Minister of Finance, Zainab Ahmed, at the Federal Executive Council (FEC) meeting in the State House, Abuja on Wednesday, April 14, 2021.
Replying in a letter titled; "Our advice is that we stop playing the Ostrich
Obaseki stated, "While we do not want to join issues with the Federal Ministry of Finance, we believe it is our duty to offer useful advice for the benefit of our country.
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed should rally Nigerians to stem the obvious fiscal slide facing our country.
"Rather than play the Ostrich, we urge the government to take urgent steps to end the current monetary rascality, so as to prevent the prevailing economic challenge from degenerating further.
We believe it is imperative to approach the Nigerian project with all sense of responsibility and commitment and not play to the gallery because ultimately, time shall be the judge of us all.
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