EXTRA: Udoma, budget minister, does not know Nigeria’s debt profile
Udoma Udo Udoma, minister of budget and national planning, was left red-faced on Monday when he was asked about Nigeria’s total debt profile.
The question was posed at him during the 22nd Nigerian Economic Summit holding place in Abuja.
Zain Asher, a CNN Anchor, who is one of the moderators, asked Udoma to divulge the specific figure of Nigeria’s debt profile.
“How much is Nigeria’s total debt?” Asher asked the minister.
In response, a befuddled Udoma said: “I can’t tell you the exact figure. I will have to get back to you on that.”
Asher, however, responded with a challenge, saying: “But you are the minister of budget”.
The clearly-rattled budget minister neither gave a ballpark figure nor stated that the Debt Management Office (DMO) was in charge of keeping records of the nation’s debt profile.
Instead, he informed Asher that several committees were saddled with the responsibility of compiling Nigeria’s debt and as such, he could not give a precise figure.
His response elicited loud murmurs from the audience.
If he does not know our debt profile, how can he plan a budget? I am completely flabbergasted!
There has never been a more incompetent government, I am sorry to say. From the top to the bottom ,they have no knowledge and no confidence. I pray we survive the next 2 years
Your comment..what a shame ,what a minister no wonder the economy is in recession these are bunch of educated illiterate well I don’t blame them the person that appointed them also is an archaic old man who does not know current situation in the world .What a pity for this nation
Perhaps u will have been happier if he gave a false figure…the minister isn’t the repository of knowledge..he was honest..he told what he knew..period…
Show of no commitment nd lack of competence as he is a lawyer nd not one financial expert in this regard.
How can one in good faith budget for what you expect to see as income and expenses but does not know what you are owing? Are we stagnating, standing still or moving in circles? Exactly what is wrong with Nigeria?