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PDP Faults Osinbajo’s Debt Profile Claim

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The Peoples Democratic Party (PDP) yesterday said the vice president, Yemi Osinbajo didn’t reflect the true position of the country’s debt profile under their administration, stressing that it has escalated to frightening proportion under the Buhari administration.

The national publicity secretary of PDP, Kola Ologbondiyan, who accused the vice president of using falsified templates to argue that their government has no blame in the accumulation of debts said so far, said the Buhari-led administration annual borrowing was about N3.7 trillion, between 2016 to 2017, as against the N1.04 trillion annual borrowing perimeter between 2008 to 2015 under the PDP.

The PDP, also said between 1999 to 2007, the annual borrowing perimeter was as low as N96 billion, noting that the debt profile has escalated to a frightening proportion under the Buhari administration.

The party was reacting to a statement by Osinbajo where he said the Buhari-led administration inherited a debt of $63 billion and has only borrowed $10 billion since it took office in 2015.

He made the disclosure in Ibadan on Saturday during the 9th Public Lecture of Sigma Club at the International Conference Centre, University of Ibadan.

Reacting however, Ologbondiyan said “Our dear vice president forgot that Nigerians are aware that between 2016 to 2017, under President Buhari, our annual borrowing was about N3.7 trillion as against the N1.04 trillion annual borrowing perimeter between 2008 to 2015. Between 1999 to 2007 the annual borrowing perimeter was as low as N96 billion naira”.



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