Chairman of the Senate Committee on Finance, Senator Solomon Olamilekan Adeola, blamed ex-President Olusegun Obasanjo, Umaru Musa Yar’Adua, and Goodluck Jonathan for Nigeria’s high death profile.
Adeola said the high debt profiles accumulated between 1999 and 2015.
The lawmaker disclosed this on Wednesday during consideration of the 2022-2024 Medium Term Expenditure Framework and Fiscal Strategy Paper.
According to the lawmaker “a huge part of Nigeria’s total debt profile roughly estimated at N33trillion naira were incurred by past administrations dating back to the military era.”
“It is a loan that has been borrowed by the previous administration – the Obasanjo, the Jonathan, the Yar’Adua of this world.
“[And] since the business of government is a continuum, the President of the day has no choice but to continue to pay back all these loans that have been borrowed by the previous administrations.
“More than three-quarter of these loans you’re seeing were borrowed from the previous administrations, and we are paying back – we are doing what is supposed to be done, the way it is supposed to be done.
(Native Reporters)
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