The Vice President-elect, Prof. Yemi Osinbajo today said
Nigeria’s economy is in its worst shape in history.
Nigeria’s economy is in its worst shape in history.
Osinbajo made this statement at the opening of a 2-day
Policy Dialogue on the Implementation of the Agenda for Change, which began in
Abuja today.
Policy Dialogue on the Implementation of the Agenda for Change, which began in
Abuja today.
“We are concerned that our economy is currently in, perhaps,
its worst moment in history. Local and international debts stand at US$ 60
billion.
its worst moment in history. Local and international debts stand at US$ 60
billion.
“Our debt servicing bill for 2015 is N953.6 billion, 21 per
cent of our budget. On account of severely dwindled resources, over two-thirds
of the states in Nigeria owe salaries.
cent of our budget. On account of severely dwindled resources, over two-thirds
of the states in Nigeria owe salaries.
“Federal institutions are not in much better shape. Today,
the nation borrows to fund recurrent expenditure,” he said.
the nation borrows to fund recurrent expenditure,” he said.
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