PDP faults Osinbajo’s debt profile claim

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The Peoples Democratic Party said in Abuja on Wednesday that Vice-President Yemi Osinbajo (SAN) did not reflect the true position of Nigeria’s debt profile under President Muhammadu  Buhari’s administration in his recent interview. The opposition party insisted that Nigeria’s debt profile  had escalated to a frightening proportion.

The National Publicity Secretary of the PDP, Mr Kola Ologbondiyan, who accused the vice-president of using falsified templates to argue that the Federal Government should not be blamed in the accumulation of debts, said the Buhari-led administration’s annual borrowing was about N3.7tn between 2016 and 2017, as against the N1.04tn annual borrowing perimeter between 2008 and 2015 under the PDP.

He also said between 1999 and 2007, the annual borrowing perimeter was as low as N96bn, noting that the debt profile had escalated to a frightening proportion under the Buhari’s administration.

Ologbondiyan, who spoke at a press briefing, was reacting to a statement made by Osinbajo where he said the Buhari-led administration inherited a debt of $63bn and had only borrowed $10bn since it assumed office in 2015

Osinbajo spoke in Ibadan on Saturday during the 9th Public Lecture of Sigma Club at the Internation.

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