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Udoma Udo Udoma, Minister of Budget and National Planning, during the 22nd Nigerian Economic Summit holding place in Abuja on October 10, disgraced the incumbent government when he was asked about country’s total debt profile. The minister was answered to questions posed at him during a panel discussion.

Zain Asher, a CNN journalist, asked Minister Udoma to name the specific figure of Nigeria’s debt profile. “How much is Nigeria’s total debt?” a journalist asked. The minister in his response said: “I can’t tell you the exact figure. I will have to get back to you on that.” “But you are the minister of budget”, Asher added. However, later Mr. Udoma answered by saying that different committees were saddled with the responsibility of assembling Nigeria’s debt and as such, he could not give an exact figure. The audience booed the minister for his response. The Debt Management Office was established to centrally coordinate the management of Nigeria’s debt, which was hitherto being done by a myriad of establishments in an uncoordinated fashion. The data of the Nigeria’s debt is presented on its site and is open for everybody who is interested in. According to the recent data released by the Debt Management office, Nigeria’s debt profile has risen by 4.17 trillion naira representing 34.41% under President Muhammadu Buhari. Nigerian Senate had in September called for the sack of Minister of Budget and National Planning, Udoma Udo Udoma for lacking the essential expertise and professional qualifications in managing the economy.


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