Abuja – The Federal Government has borrowed N5.04trn from the domestic debt market in
the over five years that President Goodluck Jonathan has been presiding over the affairs of
the country, Punch reports.
Records at the Debt Management Office
showed that the domestic debt of the
Federal Government stood at N3 466 360
000 000 (N3.47tn) as of March 31, 2010.
The latest debt statistics from the DMO as
of March 31, 2015 showed that the
domestic debt had risen to N8 507 545
474 000 (N8.51tn).
This means that in the last five years, the
Federal Government had borrowed
N5.04tn from domestic lenders. It also
means that within the period, the
domestic debt of the Federal Government
grew by 157.48 per cent.
Jonathan became President on May
6,2010 following the death of President
Umaru Yar’Adua on May 5,2010. On May
29, 2011, he was sworn in as an elected
president.
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