Fiscal deception: Oyedele’s debt defence and the government of opaqueness
Oyedele’s central argument, that the apparent explosion in Nigeria’s debt stock from N75 trillion to N159 trillion is not the result of reckless borrowing but rather a product of “accounting adjustments,” naira depreciation, and the securitisation of Ways and Means advances, deserves careful scrutiny.
The depreciation was not an external shock imposed upon Nigeria; it was a policy choice made by this government, and its consequences, including the ballooning naira value of external debt, must be laid squarely at its feet.
But beneath the veneer of fiscal responsibility lies a government of opaqueness, one that enacts budgets it has no intention of implementing, increases taxes and revenues while poverty deepens, and treats the ordinary Nigerian as nothing more than a beast of burden to be milked dry.
This is a summary of the original articles listed below. Always read the source articles for the full context. GhanaSummary does not create or modify the news — we summarise and link to original publishers.
