Patience Oniha, Director-General, Debt Management Office (DMO), says Nigeria’s debt profile is now N24.4trillion as FG borrowed N2.66 Trillion in one year.
The debt rose by N2.66tn from December 31, 2017, to December 31, 2018, the Debt Management Office said.
The danger cannot be averted as long as Nigeria keeps importing refined fuel.
According to Ibe Kachikwu, 2017 budget was N7.4 Trillion and FG spent N5.4 Trillion to import refined fuel in a country that has the best crude oil in the world.
Nigeria’s problem wasn’t export of tubers of yam; but stoppage of importation of refined fuel.