Federal Government’s Borrowing Trend in The Last 21 Years.
1- From the year 1999 to 2007 was the era of former president General Olusegun Oasanjo (RTD). 2- From the year 2007 to 2011 was the era of late Yar’Adua/ Goodluck Jonathan. 3 – From the year 2011 to 2015 was the era of president Good luck Jonathan. 4- From the year 2015 till date is still the era of president Muhammadu Buhari.
The borrowing of Nigeria government from the year 1999 to 2007 during Obasanjo administration was 2.4 trillion naira, it raised from 2007 to 2011 during president yar’adua/ Jonathan to 6.17 trillion naira, 2011 to 2015 it raised to 12.12 trillion naira and from 2015 to 2021 president Buhari administration it boost to 26.91 trillion naira.
The fix rates of naira to dollar (#=$) as at the following years:
From 1999 to 2007 the price of $1 to naira was #116.8, from 2007 to 2011 it raised to #156.7, increment was made in the year 2007 to 2011 from #116.8 to #195.95 and from 2015 to 2021 it raised to #381.0.
Generally, President Buhari has the highest borrowing trend with the total amount of 26.91tn as of 2015 till date while president obasanjo has the lowest borrowing trend with the total amount of 2.42tn.
According to DMO President Yar’adua and Good luck Jonathan administration has the second highest rate of borrowing from 12.12 in 2011-2015 and 6.17 in 2007-2011 and the fix rate of naira to dollar is 196.95 in 2011-2015 and 156.7 in 2007-2011.
Based on the analysis of DMO,Olusegun Obasanjo regime has the lowest rate of borrowing of 2.42 trillion naira in the year 1990-2007 and fix rates of naira to dollar is 116.8.
And lastly the total from 1999 till date is 47.62tn…
Bkid care family. 