Zainab Ahmed says debt trajectory sustainable

Spread the love

On Wednesday, Nigeria’s Finance Minister stated that the country’s debt trajectory is sustainable.

The country also announced plans to significantly reduce its debt service-to-revenue ratio this year and has no plans to borrow from international capital markets.

According to the International Monetary Fund (IMF), last year, the Nigerian government devoted 80% of its revenue to debt servicing, a ratio that could potentially rise to 100% this year.

“Eighty percent is not sustainable and our plan is that it is coming down to 60% in 2023,” Zainab Ahmed said in a Bloomberg TV interview, adding that the country expected to produce 1.6 million barrels of oil a day this year.


Leave a reply