As Nigeria’s national debt reaches unprecedented levels, prominent media personality, Oseni Rufai, has called on the ruling All Progressives Congress (APC) to explain the significant increase in the country’s debt from ₦12 trillion in 2015 to over ₦120 trillion in 2024.
The DMO said as of March 31, 2024, the country’s domestic and external debts stood at ₦121.67 trillion ($91.46 billion). Nigeria’s debt rose by ₦24.33 trillion within three months – from ₦97.34 trillion ($108.23 billion) in December 2023 to ₦121.67 trillion ($91.46 billion).
The debt represents external and domestic borrowings by the Federal Government and the 36 state governments and the Federal Capital Territory (FCT).
Taking to his X handle Rufai expressed deep concern and highlighted the stark contrast between the debt levels when the APC took office in 2015 and the current figures, emphasizing the need for accountability.
He wrote, ” The APC should honestly tell Nigerians how they grew Nigeria’s debt from 12 trillion in 2015 to over 120 trillion in 2024. Ask them what they did with the money.”
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