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Sad return to broken chains (2)
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By Eric Teniola
HE moved to the Federal Public Service as Administrative Officer. Class III, in 1958 and was promoted Permanent Secretary in 1960, and headed in turn the ministries of Defence, Communications, Industries and Finance. He occupied the vital post of the Permanent Secretary, Finance, from 1966 through the years of civil war with all its effects on the country’s finances.
In December 1970 he was appointed Administrative Officer (Principal Grade), and became Secretary to the Federal Military Government and Head of the Federal Civil Service. Alhaji Attah died on June 12, 1972 at the Royal Free Hospital, London.
In June 2005, we were so ecstatic in celebrating the debt relief offered us, a relief of over $20billion dollars, which was beyond the total revenue of Nigeria for one year. So happy were we that President Olusegun Obasanjo as he was then) GCFR, had to make a broadcast to the nation on June 30, 2005. He followed the broadcast by appearing before the joint sitting of the National Assembly on July 26, 2005 to speak on the issue. In the broadcast, he declared, “How did we work to get out of this debt quagmire? We did it by resolving and working hard to break with the past; by identifying new voices and new leaders; and by rejecting business as usual and voting for new values of accountability, transparency, fair competition, social justice, and the upliftment of the living standards of Nigerians. We revamped our institutions and put in place an economic agenda that reduced the role of the state in the economy while strengthening the place and role of private investors. We mounted a vi
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In June 2005 we were so ecstatic in celebrating the debt relief offered us, a relief of over $20billion dollars, which was beyond the total revenue of Nigeria for one year.
So happy were we that President Olusegun Obasanjo, GCFR, had to make a broadcast to the nation on June 30, 2005. He followed the broadcast by appearing before the joint sitting of the National Assembly on July 26, 2005 to speak on the issue. In the broadcast, he declared, “How did we work to get out of this debt quagmire? We did it by resolving and working hard to break with the past; by identifying new voices and new leaders; and by rejecting business as usual and voting for new values of accountability, transparency, fair competition, social justice, and the upliftment of the living standards of Nigerians. We revamped our institutions and put in place an economic agenda that reduced the role of the state in the economy while strengthening the place and role of private investors. We mounted a vigorous g
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Nigeria’s total public debt as at September 2020 stood at ₦32.223 trillion or $84.574 billion according to statistics released on Thursday by Debt Management Office (DMO).
Total public debt is owed by federal and sub-national governments put together.
A break down of the stock showed that 37.82per cent was external, while the balance of 62.18 per cent was domestic.
The figures showed an increase of ₦1.214 trillion when compared to the total public debt stock of N31.009 trillion as at June 30, 2020.
The corresponding figures for March 31, 2020, were ₦28.628 trillion or USD79.303 billion.
“FGN, state governments and FCT all recorded increases in their debt stock due to borrowings to enable them to respond appropriately to the COVID-19 pandemic and to meet revenue shortfalls.