- President Muhammadu Buhari has been credited by Governor Ayade to have saved Nigeria from collapse
- According to the Cross Rivers state governor, things would have been difficult for the country if not for Buhari
- Going further, he claimed that there was an international conspiracy against the country, particularly the northern regions
Governor Ben Ayade has praised President Muhammadu Buhari’s efforts over the insecurity in Nigeria.
According to the Cross River state governor, the country would have collapsed if not for his drive.
The governor said this on Channels Television’s Sunrise Daily. He said the president’s military background helped in making that possible.
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“Perhaps, if it was not Buhari’s administration with his military background, the country would have collapsed at this stage,” he added.
“People don’t know that because if you have been able to avoid risk, nobody can see it because it was avoided. I think the situation could have been worse.”
“Today, the APC government is coming up with a robust programme. We have 42 billion tonnes of bitumen deposit in Nigeria, making us the third after Canada and Venezuela. This government has a robust plan to put in place a proper bitumen processing plant which has never existed."
We borrow a lot of money because of insecurity, low revenue, Nigerian government says
Meanwhile, Legit.ng had reported that the Minister of Finance, Budget and National Planning, Zainab Ahmed has said that Nigeria borrows more money because of insecurity and low revenue.
She also said the country has been unable to meet the Organisation of Exporting Countries (OPEC) quota for the production of oil in the last few years.
She said this on Wednesday, January 7, 2022, during the public presentation of the 2022 budget proposal and breakdown in Abuja.
Low debt to GDP ratio
According to the Guardian, the minister insisted that Nigeria’s debt to GPD ratio is low compared to that of some countries in Africa. As of November 2021, the ratio stands at 76 per cent. She said Nigeria’s most pressing need is not debt sustainability but revenue.
Nigeria's debt has grown threefold in seven years, activist says
Legit.ng has also reported that Rights activist, Chidi Odinkalu, has said Nigeria’s debt profile has increased three times in the last seven years, that is since Muhammadu Buhari mounted the saddle as Nigeria’s president.
Odinkalu said this in a tweet but did not expatiate as he only provided an undated chat from the Nigeria Bureau of Statistics (NBS).
Odinkalu may not be an economist but available data from Debt Management Office (DMO) says Nigeria’s debt profile has soared to about N35.65 trillion recently because of increased borrowing by Buhari's government.