Politics

Nigeria’s debt crisis hindering development — Okorocha

Former Governor of Imo State, Senator Rochas Okorocha has identified debt crisis as one of the problems bedevilling the development of the country.

Senator Okorocha noted the country incurred over 80 trillion naira both locally and externally.

He made this disclosure during a live interview on a Nigerian television station on Sunday.

The senator explained that the country makes about six trillion Naira every year from oil, tax, and customs.

Okorocha further explained that 15 trillion naira every year has to be made for payment of salaries, road maintenance and electricity.

He stated that the problem is getting nine trillion naira every year to balance up the six trillion Naira to meet up having in mind that debt is nothing even paid yet.

“But the main problem we are having in this country is that we are in debt. We have a debt of over 80 trillion Naira both local and external.

“Now, we make only about six trillion naira every year from oil, tax, customs and what a view.

“Remember you are owing and you need fifteen trillion Naira every year for payment of salaries, road maintenance and run your electricity.

“So, the problem is how do you get nine trillion every year to balance up the six trillion Naira to meet up? Mind you! You are not even paying the debt yet,” he said.

While speaking on the best leadership qualities for the country, he said the country needs someone who is not tribalised as people cannot work together when they don’t agree.

The former governor said such a person is needed in the current situation that institutions are not working and judiciary has not been strengthened.

“We need someone who is in the eyes of every Nigerian and he is not tribalised because people cannot work together when there is no agreement.

“Considering the fact that institutions are not working and that the judiciary has not been strengthened to make sure laws are obeyed with what is happening nowadays,” he said.

 

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