Data from the Debt Management Office (DMO) seen by the cable showed that federal government borrowing (local and foreign debt) climbed from #3.55 trillion in 1999 to #26.91 trillion at the end of March 2021(the country’s latest official figure). This represent a 658 percent increase in 21 years, comprising the administration of Olusegun Obasanjo, Umar Yar’Adua, Goodluck Jonathan and the current Muhammadu Buhari.
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