OF THE LOOTOCRACY OF JONATHANS SQUANDERMANIA GOVERNMENT, JAYE - TopicsExpress

OF THE LOOTOCRACY OF JONATHANS SQUANDERMANIA GOVERNMENT, JAYE GASKIA HAD THIS TO SAY: According to the Debt Management Office [DMO] the total national debt portfolio has now risen to over 10tn Naira [more than $66bn]; with external debt portion of the total reaching its highest levels since 2004 at more than 10tn Naira [just over $10bn]......... And this inspite of the fact they in just one between October 2013 and August 2014; the External reserves and the Excess Crude Account have both been depleted by more than $10bn combined........Where is the impact of these humongous scale of borrowing and extra-budgetary spending on the lives of ordinary citizens; or on the state of basic infrastructures for that matter? The only rational conclusion that can be drawn is reflected in the parallel historic levels of corruption and treasury looting!

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