May 29 transition: Wahala as Buhari govt pass N46trn debts to Tinubu
President Muhammadu Buhari go pass on di N46.25 trillion debt burden to di incoming government.
According to di Debt Management Office, DMO, Nigeria total debt stock don hit 46 trillion.
Report yarn say upon di dust wey dey caused by di heavy existing debt burden, di government yarn say dem receive approval from di World Bank on another N369 billion loan ahead of di fuel subsidy removal in June 2023.
Inside di eight years of di Buhari administration, Nigeria debt profile don grow from N12.6 trillion in 2015 to over N46 trillion in 2023.
Di matter don continue to raise worries, especially as di International Monetary Fund, IMF, yarn say Nigeria almost empty dia treasury on debt servicing in 2022.
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Also, di Federal Inland Revenue yarn say hin collect N10 trillion in revenue in 2022, with a 2023 budget expenditure of N21.83 trillion pegged on deficits of N11.34 trillion.
Di issue of debt sustainability and economic instability dey choke Nigeria without hope.
On dis ground, di demanding task of country economic challenges go kon dey on top Tinubu shoulder after hin swearing-in on May 29, 2023, di debt burden to di incoming government na another wahala.
However, economic experts yarn say to fix Nigeria debt-burdened economy go be hard nut to crack.
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