Foreign/ Domestic: Nigeria’s Debt Hits N38.005trn – DMO - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (F.BA)
December 15, 2021
DMO explained that there is increase of  2.54 trillion naira when compared to the corresponding figure of 35.465 trillion naira at the end of second quarter 2021 was accounted for  the 4 billion dollars Eurobonds issued by the government in September 2021.
Minister of Finance, Budget and National Planning Zainab Ahmed has however, maintained that Nigeria does not have a debt problem. According to her, what the government needed to do was to increase its revenue generating capacity in order to boost revenue to about 50 percent of Nigeria’s Gross Domestic Product, GDP.
A former Imo State Finance Commissioner Uche Uwaleke while commenting on Nigeria’s ballooning debt profile, explained that the crash in revenue generation always leads the Nigerian government to borrow.