- We Are Finished! – NewsRescue
by Everest Amaefule, Ifeanyi Onuba And Okechukwu Nnodim
In the over five years that President Goodluck Jonathan has been presiding over the affairs of the country, the Federal Government has borrowed N5.04tn from the domestic debt market.
Jonathan became Nigeria’s acting President on February 10, 2010 and substantive 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.
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).