According to an article by PUNCH, under President Goodluck Jonathan, the Federal Government has borrowed a total of N2.57tn. Federal Government’s debt profile rose from N4.18tn as of June 30, 2010 to N6.75tn as of June 30, 2012. Jonathan was sworn in as
Nigeria’s Acting President on February 10, 2010 following the death of
President Umaru Yar’Adua and was later sworn in as the elected president
on May 29, 2011.
Records obtained from
the Debt Management Office showed that four months after Jonathan became
Acting President, the total debt profile stood at N4.18tn (as at June
30, 2010). However, by June 30, 2012; the debt profile had ballooned to N6.75tn. This shows that within a period of 24 months or two years, the Federal Government debt profile rose by 61.48 per cent.
Why the heck are we borrowing so much? All that money and the society
and the economy of the country isn't even improving. The rate of
joblessness among the youth is increasing daily. Why the heck can't our
government live within their means? So, they keep putting the nation in debt to fund their ridiculously extravagant lifestyles. Isn't there a group or body that should check the expenditures of the federal government? Corruption has gone to far, something needs to be done and quickly too.
Continue to read how these suckers are sucking our money after the cut...