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Nairaland Forum / Nairaland / General / Politics / Okonjo-iweala Calls Osibanjo A Liar (2539 Views)
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Okonjo-iweala Calls Osibanjo A Liar by Back2Bust: 12:50pm On May 27, 2015 |
he Federal Government has revealed that the allegation by the Vice-President-elect, Prof. Yemi Osinbajo, that the Goodluck Jonathan administration incurred a $60 billion debt during its term was miscalculated and false. The Coordinating Minister of the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala disclosed this to journalists at the weekend, stressing that the country’s current debt could be traced as far back as 1960 and included Federal Government, as well as States debts. Okonjo-Iweala put the country’s debt profile at $63.7 billion for both domestic and external debt and stated that the figure represented debt that has been accumulated over a long time by several administrations and was not only that of the Jonathan administration, as claimed by Prof. Osibanjo. Okonjo-Iweala stated, “All the borrowings (external) were borrowed under concessionary terms with long moratorium payments and these dates back to 1960; so no $60billion is accumulated by this administration.” Okonjo-Iweala also pointed out that before the fall in oil price, the Federal Government had already reduced the annual rate of borrowing. The Finance Minster said it was wrong to say the Jonathan administration was leaving a $63 billion debt because the country’s debt stock was accumulated over a long time by several administrations. Prof. Osinbajo had accused the Jonathan led government for accumulating the worst debt ever in the history of the Nigeria. Osinbajo had put the Nation’s local and international debt profile at US $60bn, with a 2015 debt-serving bill of N953.6bn, representing 21 per cent of this year’s budget. Okonjo-Iweala added that contrary to the recent negative comments about the economy by Osinbajo and the APC, the Jonathan led administration “is leaving positive economic legacies behind which nobody can wish away because history cannot be rewritten.” In her breakdown of the debt stock, she said of the $63 billion, $9.7 billion is external, representing 15 percent, while domestic is $54.61 billion representing 85 percent. According to her, it was important to note that 20 percent of the domestic debt stock belonged to the States, while 80 percent belonged to the Federal Government. Concerning the domestic debt figure, she said $11.57 billion was outstanding in 2002 while $17.3 billion was accumulated between 2005 and 2011. The Minister pointed out that $18.1 billion was accumulated between 2012 and 2015, adding that Nigeria has one of the least Gross Domestic Product, GDP figures to debt stock ratio. Okonjo-Iweala noted that the Government had in fact done well in managing the country’s debt profile by being the first administration in the history of the country to setup a sinking fund to retire bonds which had fallen due. She said N75 billion worth of bonds were disposed of through this strategy. Okonjo-Iweala stressed that the Government had used the right tools to manage the economy and had only borrowed at very low concessionary rates to fund important infrastructural initiatives in agriculture, power, roads, health, water resources and provision of infrastructure. Okonjo-Iweala further stated that the year 2015 would be a difficult one, largely because of the over 50 percent fall in global oil prices. Some Nigerians that reacted to Okonjo-Iweala statements agreed that as an academician, Prof. Osibanjo should have carried out valid research before coming out to make statements embarrassing, hoping to maim the Jonathan-led government. Prof. Osibanjo’s faulty analyses and accusation seems to be geared towards ridiculing President Goodluck Jonathan and his Government, considering his initial deliberate refusal to attend Jonathan’s farewell service at the Aso rock Villa Chapel in Abuja http://www.post-nigeria.com/60bn-debt-profile-okonjo-iweala-lays-into-osinbajo/ 2 Likes |
Re: Okonjo-iweala Calls Osibanjo A Liar by Back2Bust: 12:51pm On May 27, 2015 |
OK o |
Re: Okonjo-iweala Calls Osibanjo A Liar by agarawu23(m): 12:51pm On May 27, 2015 |
Re: Okonjo-iweala Calls Osibanjo A Liar by danny301: 12:54pm On May 27, 2015 |
She is not afraid baba iyabo, right?... That old man fights dirty and does not forgive. |
Re: Okonjo-iweala Calls Osibanjo A Liar by NeduLuiZ(m): 1:02pm On May 27, 2015 |
What about the private jets of Alison,gej and co. Was I their personal money |
Re: Okonjo-iweala Calls Osibanjo A Liar by jantofubu(m): 1:04pm On May 27, 2015 |
okonjo in yoruba means dancing d!ck no wonder common sense dey hungry her 1 Like |
Re: Okonjo-iweala Calls Osibanjo A Liar by Nobody: 1:11pm On May 27, 2015 |
everybody is running and defending them selves. |
Re: Okonjo-iweala Calls Osibanjo A Liar by Nobody: 1:13pm On May 27, 2015 |
jantofubu: you bringing ethnic uncircumcised dick dancing to our sisters we crush you . amala farm animals . 8 Likes |
Re: Okonjo-iweala Calls Osibanjo A Liar by Back2Bust: 1:15pm On May 27, 2015 |
This is a reminder to all it may
concern. they said they were
going to crush Biafra in 3 days
but it didn't happen the way they
expected and they were
surprised. a nation couldn't
conquer a little region in 3 years
with all the support they got from
Britain, Russia. God was with
Biafra. just like Gen. Ojukwu said
" no power in black Africa can
subdue Biafra" and it is true. Our
fathers staked their lives for our
freedom and now it is our time to
make this a reality with the help
of GOD. Let us Arise, and posses
that which is Ours. Biafra shall
live and not die. the time is now.
don't give up the fight. All the
external enemies couldn't crush
Biafra. Long Live Biafra. Freedom
has come. GOD is with us.. 5 Likes |
Re: Okonjo-iweala Calls Osibanjo A Liar by Nobody: 1:15pm On May 27, 2015 |
. |
Re: Okonjo-iweala Calls Osibanjo A Liar by UfuomaUN(m): 1:21pm On May 27, 2015 |
I hope this makes the front page 1 Like |
Re: Okonjo-iweala Calls Osibanjo A Liar by Nobody: 2:17pm On May 27, 2015 |
Welcome to the government of accusations and excuses. |
Re: Okonjo-iweala Calls Osibanjo A Liar by An2elect2(f): 2:35pm On May 27, 2015 |
Can these people just stop this already!? There is no fuel! |
Re: Okonjo-iweala Calls Osibanjo A Liar by ramdris(m): 2:37pm On May 27, 2015 |
Time will tell who the liars are. |
Re: Okonjo-iweala Calls Osibanjo A Liar by asumo12: 2:44pm On May 27, 2015 |
k |
Re: Okonjo-iweala Calls Osibanjo A Liar by vikyno(m): 2:53pm On May 27, 2015 |
Is Osinbajo not supposed to be a professor? Chai! 5 Likes |
Re: Okonjo-iweala Calls Osibanjo A Liar by Abba999(f): 3:00pm On May 27, 2015 |
Back2Bust: Just watch and see how Politics will turn this pastor into balawo. 2 Likes 1 Share |
Re: Okonjo-iweala Calls Osibanjo A Liar by ribbit: 3:12pm On May 27, 2015 |
And why should I believe whqt this frog eye fat cheeck biatch is saying? |
Re: Okonjo-iweala Calls Osibanjo A Liar by asiwajuonafeko: 3:20pm On May 27, 2015 |
Pple are just so funny. Imagine saying gej owns jet ability, what abt OGUN state governor dt bought jet hmmnnn 1 Like |
Re: Okonjo-iweala Calls Osibanjo A Liar by Genius100: 3:34pm On May 27, 2015 |
Osinbajo never said GEJ'S administration incurred $60 billion, He said their administration is inheriting a debt of $60 billion. Children of bitterness, stop deceiving yourselves |
Re: Okonjo-iweala Calls Osibanjo A Liar by PedroJP(m): 3:47pm On May 27, 2015 |
Abba999: Thought he is a pastor. He deliberately refused to attend GEJ's farewell service, was that not an act of animosity that shudn't come from a man of God? Does he preach with the Quran ? |
Re: Okonjo-iweala Calls Osibanjo A Liar by Nobody: 3:56pm On May 27, 2015 |
Those who now use propaganda in Nigerian political scene over cloak their statements with heavy dosage of falsehood which if propely observed, one can figure out incompetence and the feel of under-preasure on the part of the propagandalists... This is not a good signal |
Re: Okonjo-iweala Calls Osibanjo A Liar by dunkem21(m): 4:00pm On May 27, 2015 |
A lying professorional pastor. The time of propaganda is gone. |
Re: Okonjo-iweala Calls Osibanjo A Liar by texazzpete(m): 4:04pm On May 27, 2015 |
Old news Osibanjo said Jonathan's Govt is leaving behind a $60bn debt Okonjo Iweala said GEJ is only responsible for $23bn addition to that $60bn Are they not still leaving $60bn debt behind? Is anything false in what the VP-elect said? |
Re: Okonjo-iweala Calls Osibanjo A Liar by Abba999(f): 4:14pm On May 27, 2015 |
PedroJP: Thank u jari. Abeg make we share popcorn while the film rolls. 1 Like |
Re: Okonjo-iweala Calls Osibanjo A Liar by Abba999(f): 4:22pm On May 27, 2015 |
texazzpete: Aunty "sentimental" its called propaganda. please 23bn isn't 60bn. As the so called man of god he's referred to, why can't he speak in clear terms and in truth? Why did he boycott GEJ's handover service? |
Re: Okonjo-iweala Calls Osibanjo A Liar by fx45(m): 4:24pm On May 27, 2015 |
NeduLuiZ:Are U daft? |
Re: Okonjo-iweala Calls Osibanjo A Liar by coputa(m): 4:34pm On May 27, 2015 |
Genius100:young man, what is the difference,who are they inheriting it from. |
Re: Okonjo-iweala Calls Osibanjo A Liar by jantofubu(m): 5:29pm On May 27, 2015 |
TRIBALSTOOGE:who unchained this irrational bush dog? shuu... Im nt a tribal bigot lyk u.. |
Re: Okonjo-iweala Calls Osibanjo A Liar by abduljabbar4(m): 5:43pm On May 27, 2015 |
And some idiots were telling us to respect this woman. Is she older than Osinbajo? |
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