Nigeria’s debt service-to-revenue ratio at 97% unsustainable, we’ve brought it down to 65% – Tinubu
President Bola Tinubu has disclosed that servicing debt at 97% ratio was unsustainable.
This is even as he disclosed that Nigeria’s debt service-to-revenue ratio has dropped from approximately 97% to 65% since he took office 17 months ago.
He made this known during the swearing-in ceremony for seven new ministers at the State House in Abuja, highlighting the significant economic challenges faced by the country.
He expressed confidence in the government’s ability to navigate economic recovery despite the cost-of-living crisis intensified by strict reforms.
Tinubu noted that Nigeria’s debt servicing cost consumed 66.9% of its total revenue in the first nine months of 2023, a significant decrease from 99.3% in the same period of 2022.
Nigeria’s debt service-to-revenue ratio at 97% unsustainable, we’ve brought it down to 65% – Tinubu
President Bola Tinubu has disclosed that servicing debt at 97% ratio was unsustainable.
This is even as he disclosed that Nigeria’s debt service-to-revenue ratio has dropped from approximately 97% to 65% since he took office 17 months ago.
He made this known during the swearing-in ceremony for seven new ministers at the State House in Abuja, highlighting the significant economic challenges faced by the country.
He expressed confidence in the government’s ability to navigate economic recovery despite the cost-of-living crisis intensified by strict reforms.
Tinubu noted that Nigeria’s debt servicing cost consumed 66.9% of its total revenue in the first nine months of 2023, a significant decrease from 99.3% in the same period of 2022.
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