Retired Col. David Imuse, chairman of the state APC caretaker committee, said this in a statement by Mr Ofure Osheobo, the assistant secretary of the committee on Monday in Benin. x“The state is engulfed in a foreign debt of 300 million dollars and a domestic debt including loans from commercial banks, the capital market, and other doubtful sources, approaching N120billion as at March, for non-existent projects. “Edo under him has overtaken Rivers as the state with the highest foreign and domestic debt in the South South and it is on a steady course to displace Lagos as Nigeria’s most indebted state,” he said. He described as spurious, alarmist, untrue and wicked, claim by Obaseki that Nigeria was on its way to becoming another Argentina in terms of low currency value. This, he said was better than singling himself out for pediatric applause, because the management of Nigerian economy was not just the responsibility of one person, but that of the government, of which he was a part.

Source: The Guardian April 12, 2021 13:41 UTC