$63b debt: APC lied, says Okonjo-Iweala

Minister of Finance, Dr Ngozi Okonjo-Iweala, has faulted claims by the All Progressives Congress that  the President Goodluck Jonathan's administration is leaving behind a backlog of debt to the tune of $63 billion.

Vice-president-elect, Prof Yemi Osinbajo, has quoted the figure saying that the economy is in worse shape ever.

Similarly,  APC National Chairman, Chief John Oyegun, had lamented during a retreat organised for newly-elected senators of the APC, that it would take over 228 years to repay Nigeria's debt, which they said was accumulated by the outgoing administration.

Okonjo-Iweala, who spoke at a forum organised by finance correspondents in Abuja, monitored on Channels TV, said that the picture created by the incoming administration was false.

According to her, the amount being bandied about was the total debt profile the nation owed between 1960 to date.

She said that President Jonathan's administration has the lowest debt profile in the nation's history, adding that borrowed funds were used to stimulate growth in critical sectors which include the rail, agriculture and power sectors

The minister insisted that  the outgoing administration has done measurably well in maintaining low inflation rate, building road networks and improving agricultural productivity, among other accomplishments.

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