President Bola Ahmed Tinubu has described as unmanageable servicing the nation’s debt with 90 per cent of its revenue.
He made the assertion at the kick-off of the 63rd Nigerian Bar Association, NBA annual conference in Abuja.
Tinubu, who also noted that erratic power supply constituted a major hindrance to the growth of the economy, charged Nigerians to have positive attitude while his government intensifies efforts to reposition the country.
The Nigerian leader also said any economic theory that makes a country spend nearly all its earnings on debt servicing like Nigeria is currently doing, is unsustainable.
He pledged to make all the changes required for the country to be respected globally.
Already, the President has set up the task reform committee with the mandate to double revenue, which was more that N10trillion, within three years.
On his part, Justice Minister Fagbemi (SAN), assured the people that access to justice and adherence to the rule of law would be easy under the Tinubu administration.