Nigeria’s Problem is Revenue, Not Debt, Says Finance Minister

Nigeria’s Problem is Revenue, Not Debt, Says Minister Minister of Finance, Mrs. Zainab Ahmed, Monday said Nigeria does not have a debt problem, despite misgivings amongst experts over the country’s rising debt profile. Ahmed, who decried what she termed ‘insensitivity’ concerning the country’s debt situation, said what Nigeria had at the moment was a revenue problem rather than debt challenge. She spoke at a meeting with management staff of Ministry of Budget and National Planning on Monday evening. The minister said that Federal Government would convene a meeting with donor agencies in the country, where the organisations would be given directions on areas their interventions were needed. The minister stressed the need to improve revenue generation in the country. According to her, “There is a lot of insensitivity around the level of our debt. “I want to restate that our debt is not too high; what we have is a revenue problem. “Our debt is still very much within a reasonable fiscal limit. In fact, amongst our comparative countries, we are the least in terms of borrowing.” She noted that Federal Government hoped to raise its revenue performance from the 55 per cent that was attained in 2018 to 85 per cent in the… Read the full story here: https://wp.me/paLLz4-1wd