NIGERIA’S DEBT IS INCREASING-CNPP WARNS

Coalition of opposition parties says President Goodluck is returning the country to debt despite huge revenue.
The Conference of Nigerian Political Parties, CNPP, has accused President Goodluck Jonathan of plunging Nigeria into debt despite the huge revenue realized from oil and gas, custom duties and taxation.
The group, in a statement by its National Publicity Secretary, Osita Okechukwu on Sunday, recalled that in 2006, it kicked against doling out a $12.4 billion to pay debt owed the Paris and London Clubs, but that the then Finance Minister, Ngozi Okonjo-Iweala, who incidentally occupies the same position presently, said the country had come out of debt trap.
CNPP lamented that only a few years after, the present administration is returning the country into debt trap despite the huge revenue it gets from various sources.
“CNPP is outrage that President Goodluck Jonathan regime is rapidly rail-loading Nigeria back into debt trap in spite of the unprecedented oil and gas, Federal Inland Revenue Service FIRS tax, Customs Duty revenues, decked with Excess Crude Account,” the statement said.
“When in 2006 Nigeria doled out $12.4 billion, which could have been used to provide electricity, to pay the odious Paris and London Clubs loan, though it rejected it, the Finance Minister, Ngozi Okonjo-Iweala said Nigeria was out of debt trap.

Subscribe for alerts& follow the BIGGEST Business Blog in Nigeria & fastest growing Entrepreneurial/Political blog in Africa daily
Follow me on Twitter- @udeozochibuzo
Email me- udeozochibuzo@yahoo.com
Become My friend on Facebook- udeozochibuzo
Connect with me on LinkedIn-udeozochibuzo
Watch me on Youtube-udeozochibuzo
Check out my Blog daily- http://www.udeozochibuzo.wordpress.com
You can Follow UC-Blog via Email- Simple just enter your email address to follow UC-Blog and receive notifications of new posts by email instantly.
BE SOCIAL SHARE THIS POST WITH FAMILY & FRIENDS BY CLICKING ANY OF THE SOCIAL MEDIA ICON BELOW!!

Advertisements

About udeozochibuzo

ENTREPRENEURSHIP, INFORMATION, NEWS-POLITIC, BUSINESS
This entry was posted in Business and Investments. Bookmark the permalink.

6 Responses to NIGERIA’S DEBT IS INCREASING-CNPP WARNS

  1. Carley says:

    Precisely what truly influenced u to write “NIGERIAS DEBT IS INCREASING-CNPP WARNS
    | WELCOME TO UDEOZOCHIBUZO BLOG”? I reallydefinitely appreciated it!
    Many thanks -Wm

  2. Once I originally commented I clicked the -Notify me when new comments are added- checkbox and now each time a comment is added I get four emails with the same comment. Is there any way you can remove me from that service? Thanks!

  3. Aw, this was a really nice post. In idea I would like to put in writing like this additionally � taking time and actual effort to make a very good article but what can I say I procrastinate alot and by no means seem to get something done.

  4. Aw, this was a very nice post. In thought I wish to put in writing like this moreover � taking time and precise effort to make an excellent article however what can I say I procrastinate alot and in no way appear to get one thing done.

  5. An attention-grabbing dialogue is price comment. I believe that you need to write extra on this subject, it may not be a taboo topic however typically persons are not sufficient to talk on such topics. To the next. Cheers

  6. I have been browsing on-line greater than 3 hours today, but I by no means located any interesting write-up like yours. It is pretty worth enough for me. In my look at, if all webmasters and bloggers made excellent material material as you possibly did, the net will possibly be much more useful than ever before.

Leave a Comment or a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s