Tuesday, May 26, 2015

Osinbajo misrepresented facts on Nigeria's debt profile – PDP

The Peoples Democratic Party on Monday said Vice President-elect, Prof. Yemi Osinbajo, misrepresented facts on the state of the nation’s economy.
The party specifically faulted Osinbajo’s claims on the correct status of the nation’s government debt stock and they say it was part of a ploy to discredit the party.                             
This was contained in a statement by the PDP National Publicity Secretary, Chief Olisa Metuh.
Metuh criticised the Vice President-elect for failing to be bold and honest enough to also inform the nation that the bulk of the $63.7bn debt was incurred by APC states.
He said, “It is indeed unfortunate that the Vice President-elect, who has the details of the debt stock, chose to be economical with the truth and to mislead Nigerians just to discredit the current PDP-led administration and rationalise APC’s unpreparedness for governance.
“Prof. Osinbajo is aware that the $63.7bn is made up of external and domestic debts belonging not only to the Federal Government but to federal and state governments and accumulating since the 1960s. Yet, he deliberately misrepresented the facts to give the unsuspecting public the impression that the amount was exclusively incurred by the current Federal Government.
“Perhaps the Vice President-elect avoided the details so as not to expose the fact that the APC-controlled Lagos State has the highest external debt stock of $1,169bn as well as the highest domestic debt stock of N278.86bn.”
The PDP further stated that it found it unacceptable and unstatesmanlike for the Vice President-elect to attempt to mislead Nigerians into believing that the total federal debt component was accumulated under the President Goodluck Jonathan-led administration.
It said it was on record that a greater chunk of the amount was inherited.


  1. PDP like blaming people for their predicament, arrrgh I can't deal