Loan: Federal Government Insists N24tn Debt Still Sustainable - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (J.T)
April 24, 2019
The Federal government has said that the country’sdebt which currently stands at about twenty four point three trillion naira is stillwithin sustainable limit.
The Minister of Finance Zainab Ahmed in a statementsaid that the country’s debt, which is about nineteen per cent to the GrossDomestic Product, GDP was still low compared to Ghana, Brazil, South Africa,Egypt and Angola.
She maintained that there was no plan to remove fuelsubsidy as being speculated.
Zainab said that the current subsidy arrangementwhich was in the form of under recovery by the Nigerian National PetroleumCorporation, NNPC was far better than what was obtainable when oil marketerswere paid directly for fuel subsidy.
She added that NNPC is the sole importer ofpetroleum products, and so when they import it is the cost of business and theydeduct that cost before they remit the little money to the federation account.