Why Nigeria's Debt is Not A Problem - Finance Minister, Zainab Ahmed Explains

Published On: October 5, 2018, 7:06 pm (2 years ago)
Author: kacy lee

The Acting Minister of Finance, Mrs. Zainab Ahmed, says Nigeria does not have debt problem because the country’s debt ratio to GDP is below the three per cent threshold set by the Fiscal Reason-ability Act.

She noted that the main challenge confronting the nation is revenue problem, saying that the nation lacks the revenue to pay salaries and to also meet the recurrent and capital expenditures.

She added that the national debt appears high because the country is currently facing a low revenue challenge.


Ahmed said this on Friday during a visit to the Nigeria Customs Service Headquarters in Abuja.

The minister also stressed the importance of improving revenue generation to enable Nigeria to achieve its economic objectives.

She said, “People have raised concerns about our debt profile, but we do not have a debt problem.

“Our debt ratio to GDP is still below three per cent, which is the threshold set by the Fiscal Reasonability Act.

“What we have is a revenue problem. We don’t have revenue to pay salaries and to meet the recurrent as well as the capital expenditur
e.”



Posted: (2 years ago) on 5-10-2018 07:06 PM | Addicted Hero
Story for the gods & goddesses
Posted: (2 years ago) on 5-10-2018 08:39 PM | Upcoming
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This shows the level of cluelessness of this administration. After Satan is buhari, says fayose
Posted: (2 years ago) on 5-10-2018 10:30 PM | Upcoming
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Thank you. If over 200 companies dun shut down since buhari become president. Tell us where the revenues go come from. If dangote himself shut down some of em businesses for Nigeria. So how market. Bad Government with only bad intentions. Nothing good can come out of APC. Kill the country YES
Posted: (2 years ago) on 6-10-2018 12:59 AM | Hero
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Hissssss
Posted: (2 years ago) on 6-10-2018 06:22 PM | Hero
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