Nigeria Does Not Have A Debt Crisis – Finance Minister
The Minister of Finance, Mrs Zainab Ahmed, says Nigeria is not in any debt crisis as being speculated in many quarters.
Ahmed gave the assurance while speaking at a public hearing on the budget organised by the National Assembly on Wednesday.
She insists that the country’s debt profile is still within a reasonable limit.
“Nigeria does not have a debt crisis”, she said.
“Our total borrowing today is just under 20% of our GDP while the multilateral institutions project for an economy our size to borrow up to 50-55% of our GDP. What we have is a revenue problem”.