• About
  • Privacy Policy
  • Contact
Friday, October 3, 2025
No Result
View All Result
NEWSLETTER
Diplomatic Info
  • Home
  • Diplomacy
  • Embassy News and Info
  • Events
  • Nigeria
  • Business
  • Politics
  • Security
  • Cover Story
  • ECOWAS
    • Togo
    • Sierra Leone
    • Senegal
    • Nigeria
    • Niger
    • Mali
    • Liberia
    • Guinea Bissau
    • Guinea
    • Ghana
    • The Gambia
    • Cote D’Ivoire
    • Cabo Verde
    • Burkina Faso
    • Benin
  • Advertise
    • mail
  • Home
  • Diplomacy
  • Embassy News and Info
  • Events
  • Nigeria
  • Business
  • Politics
  • Security
  • Cover Story
  • ECOWAS
    • Togo
    • Sierra Leone
    • Senegal
    • Nigeria
    • Niger
    • Mali
    • Liberia
    • Guinea Bissau
    • Guinea
    • Ghana
    • The Gambia
    • Cote D’Ivoire
    • Cabo Verde
    • Burkina Faso
    • Benin
  • Advertise
    • mail
No Result
View All Result
Diplomatic Info
No Result
View All Result
Home ECOWAS Nigeria

Buhari regime serviced debt with 96 per cent of revenue; left multi-trillion naira debt for Tinubu: Bayo Onanuga

by Diplomatic Info
June 3, 2023
in Nigeria
0
Buhari regime serviced debt with 96 per cent of revenue; left multi-trillion naira debt for Tinubu: Bayo Onanuga
0
SHARES
10
VIEWS
Facebook ShareShare on WhatsAppTweet it!

Bayo Onanuga, one of the aides to President Bola Tinubu, has lamented that the federal government under ex-President Muhammadu Buhari plunged Nigeria into N77 trillion debt and has been using 96 per cent of revenue for debt servicing. 

Mr Onanuga, disclosed this in a statement shared on his social pages Friday, explaining and justifying the sudden fuel subsidy removal led to the announcement of a nationwide protest planned for Wednesday by the Nigerian Labour Congress (NLC). 

“The Federal Government which already commits 96 per cent of its revenue in servicing debt is not in any position to continue selling subsidised fuel, most of which is smuggled across our borders for criminal and obscenely unpatriotic profit.


“Subsidy of fuel is no longer unsustainable as the FG is virtually broke. Apart from its N77 trillion debt, it also owes the NNPC Limited about N2.4 trillion for past subsidies,” Mr Onanuga wrote.


Mr Onanuga’s lamentation comes a few days after Mr Tinubu said he should not be pitied for he is aware of the issues confronting the country before vying to be President.


Mr Tinubu, in his inaugural speech on May 29, said “subsidy is gone”. His pronouncement triggered panic across the country as citizens rushed to buy fuel while oil marketers suddenly increased pump price.


On May 31, the Nigerian National Petroleum Corporation (NNPC) announced pump price increment that saw petrol price skyrocket from N195 to over N500 nationwide.

Diplomatic Info

Diplomatic Info

Next Post
Death toll from major India train crash rises to 288 as rescue efforts end

Death toll from major India train crash rises to 288 as rescue efforts end

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

NELFUND lists six institutions to receive student loan

NELFUND lists six institutions to receive student loan

1 year ago
Insecurity: UN Secretary-General calls for international support for Borno

Insecurity: UN Secretary-General calls for international support for Borno

3 years ago

Popular News

  • Buhari arrives Washington for U.S.-Africa leaders summit

    Buhari arrives Washington for U.S.-Africa leaders summit

    0 shares
    Share 0 Tweet 0
  • Court remands Lagosian for allegedly defiling his three daughters

    0 shares
    Share 0 Tweet 0
  • Angola has deployed troops in DR Congo to fight M23 rebels

    0 shares
    Share 0 Tweet 0
  • I snubbed governors Tinubu sent to beg me after election; I’ll not stop fighting until Supreme Court rules: Atiku Abubakar

    0 shares
    Share 0 Tweet 0
  • Israeli president says situation ‘very serious’ amid judicial overhaul debate

    0 shares
    Share 0 Tweet 0

Connect with us on Facebook

Subscribe to Our Newsletter

Enter your email now to join our community of readers, and get new contents straight to your inbox

We promise to not spam you

Thanks for joining in.

Category

  • Africa
  • Benin
  • Burkina Faso
  • Business
  • Cote D'Ivoire
  • Cover Story
  • Diplomacy
  • ECOWAS
  • Education
  • Embassy News and Info
  • Events
  • Ghana
  • Guinea
  • Guinea Bissau
  • International
  • Liberia
  • Mali
  • News
  • Niger
  • Nigeria
  • Politics
  • Programs
  • Security
  • Senegal
  • Sierra Leone
  • The Gambia
  • Togo
  • Uncategorized

Quick Links

  • About
  • Contact
  • Privacy Policy
  • Advertise

About Us

Providing strategic insights into important social, cultural, political, and economic factors that significantly influence business and nations, Diplomatic Info will examine these critical issues and provide strategies that create competitive advantages.

© 2023 Diplomatic Info - Built with Love by Creovantage.

No Result
View All Result
  • Home
  • Diplomacy
  • Embassy News and Info
  • Events
  • Business
  • Politics
  • Security
  • News
  • Cover Story
  • Africa
  • ECOWAS
    • Togo
    • Sierra Leone
    • Senegal
    • Nigeria
    • Niger
    • Mali
    • Liberia
    • Guinea Bissau
    • Guinea
    • The Gambia
    • Cote D’Ivoire
    • Ghana
    • Cabo Verde
    • Benin
    • Burkina Faso
  • International
  • Contact

© 2023 Diplomatic Info - Built with Love by Creovantage.