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.

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