APC incurred most of $63bn national debt – PDP

monjola sotubo

May 27, 2015 5:56 PM

The PDP also said that Lagos, which is controlled by the APC, has the highest external debt stock of $1.169bn as well as the highest domestic debt stock of N278.867bn.

The Peoples Democratic Party (PDP) has said that most of the national debt quoted by Vice President-elect, Yemi Osinbajo was incurred by states run by the All Progressives Congress (APC).

This was disclosed by PDP National Publicity Secretary, Olisa Metuh via a statement released on Monday, May 25, 2015.

It reads:

“It is indeed unfortunate that the Vice President-elect who has the details of the debt stock chose to be economical with the truth and to mislead Nigerians just to discredit the current PDP-led administration and rationalise the APC’s unpreparedness for governance.”

“Prof. Osinbajo is aware that the $63.7bn is made up of external and domestic debts belonging not only to the Federal Government but to federal and state governments and accumulating since the 1960s, yet he deliberately misrepresented the facts to give the unsuspecting public the impression that the amount was exclusively incurred by the current Federal Government.

“Perhaps the Vice President-elect avoided the details so as not to expose the fact that the APC controlled Lagos State has the highest external debt stock of $1.169bn as well as the highest domestic debt stock of N278.867bn.”

Metuh also said that the APC must fulfill its promises to Nigerians despite its complaints about the state of the economy.

monjola sotubo