The Nations’ debt will continue to grow because Nigeria does not have much savings to fall back and also due to the fact the nation is an hostage to all sorts of financial conditions that it must meet monthly.
Economist, Professor Ken Ife, disclosed this while speaking to TVC News Breakfast on Tuesday Morning.
Professor Ife said the issue of the nations debt burden will only get worse especially considering issues like Fuel Subsidy still remain in play as the government must find 500 Billion Naira monthly to fund it among Others.
He added that an end is not in sight any time from now but added that it is not such a hopeless situation actually.
He said the World Bank which raised the alarm on the nations’ debt profile has also added that the nations’ vulnerability has also increased with the current debt profile.
Going Further he added that the bank said on the quantum of what the Country is currently owing still feels that the percentage to GDP is still 23% which is less than the 40% threshold which is the dangerous cut off point that the Bank sees as being inimical to development.
He however said the reality of the situation is that the repayment of the debt and its service by Nigeria is becoming increasingly unsustainable.
He said the projected revenue and debt repayment for 2023 which is 123% of Revenue is not something that looks good on any platform.
On the difference between what Nigerian is owing and what Other Economies especially America is owing is the fact 60% of the World debt is denominated in Dollars and that Nigeria will sweat much more to earn Dollars through export which is not the case with Other Countries of the World.
He added that this explains why the likes of China, Russia and some Others want to move away from the Dollar and denominate their debts through some precious metals.
He disclosed that their is hope for the nation despite the growing level of debt by the Country adding that Nigeria does not need debt relief but restructuring.
Going Further, He said the nation needs to raise its revenue which is relatively very low at 7% of GDP going forward to ensure the current situation is remedied.
The Nations’ debt will continue to grow because Nigeria does not have much savings to fall back and also due to the fact the nation is an hostage to all sorts of financial conditions that it must meet monthly.
Economist, Professor Ken Ife, disclosed this while speaking to TVC News Breakfast on Tuesday Morning.
Professor Ife said the issue of the nations debt burden will only get worse especially considering issues like Fuel Subsidy still remain in play as the government must find 500 Billion Naira monthly to fund it among Others.
He added that an end is not in sight any time from now but added that it is not such a hopeless situation actually.
He said the World Bank which raised the alarm on the nations’ debt profile has also added that the nations’ vulnerability has also increased with the current debt profile.
Going Further he added that the bank said on the quantum of what the Country is currently owing still feels that the percentage to GDP is still 23% which is less than the 40% threshold which is the dangerous cut off point that the Bank sees as being inimical to development.
He however said the reality of the situation is that the repayment of the debt and its service by Nigeria is becoming increasingly unsustainable.
He said the projected revenue and debt repayment for 2023 which is 123% of Revenue is not something that looks good on any platform.
On the difference between what Nigerian is owing and what Other Economies especially America is owing is the fact 60% of the World debt is denominated in Dollars and that Nigeria will sweat much more to earn Dollars through export which is not the case with Other Countries of the World.
He added that this explains why the likes of China, Russia and some Others want to move away from the Dollar and denominate their debts through some precious metals.
He disclosed that their is hope for the nation despite the growing level of debt by the Country adding that Nigeria does not need debt relief but restructuring.
Going Further, He said the nation needs to raise its revenue which is relatively very low at 7% of GDP going forward to ensure the current situation is remedied.
The Nations’ debt will continue to grow because Nigeria does not have much savings to fall back and also due to the fact the nation is an hostage to all sorts of financial conditions that it must meet monthly.
Economist, Professor Ken Ife, disclosed this while speaking to TVC News Breakfast on Tuesday Morning.
Professor Ife said the issue of the nations debt burden will only get worse especially considering issues like Fuel Subsidy still remain in play as the government must find 500 Billion Naira monthly to fund it among Others.
He added that an end is not in sight any time from now but added that it is not such a hopeless situation actually.
He said the World Bank which raised the alarm on the nations’ debt profile has also added that the nations’ vulnerability has also increased with the current debt profile.
Going Further he added that the bank said on the quantum of what the Country is currently owing still feels that the percentage to GDP is still 23% which is less than the 40% threshold which is the dangerous cut off point that the Bank sees as being inimical to development.
He however said the reality of the situation is that the repayment of the debt and its service by Nigeria is becoming increasingly unsustainable.
He said the projected revenue and debt repayment for 2023 which is 123% of Revenue is not something that looks good on any platform.
On the difference between what Nigerian is owing and what Other Economies especially America is owing is the fact 60% of the World debt is denominated in Dollars and that Nigeria will sweat much more to earn Dollars through export which is not the case with Other Countries of the World.
He added that this explains why the likes of China, Russia and some Others want to move away from the Dollar and denominate their debts through some precious metals.
He disclosed that their is hope for the nation despite the growing level of debt by the Country adding that Nigeria does not need debt relief but restructuring.
Going Further, He said the nation needs to raise its revenue which is relatively very low at 7% of GDP going forward to ensure the current situation is remedied.
The Nations’ debt will continue to grow because Nigeria does not have much savings to fall back and also due to the fact the nation is an hostage to all sorts of financial conditions that it must meet monthly.
Economist, Professor Ken Ife, disclosed this while speaking to TVC News Breakfast on Tuesday Morning.
Professor Ife said the issue of the nations debt burden will only get worse especially considering issues like Fuel Subsidy still remain in play as the government must find 500 Billion Naira monthly to fund it among Others.
He added that an end is not in sight any time from now but added that it is not such a hopeless situation actually.
He said the World Bank which raised the alarm on the nations’ debt profile has also added that the nations’ vulnerability has also increased with the current debt profile.
Going Further he added that the bank said on the quantum of what the Country is currently owing still feels that the percentage to GDP is still 23% which is less than the 40% threshold which is the dangerous cut off point that the Bank sees as being inimical to development.
He however said the reality of the situation is that the repayment of the debt and its service by Nigeria is becoming increasingly unsustainable.
He said the projected revenue and debt repayment for 2023 which is 123% of Revenue is not something that looks good on any platform.
On the difference between what Nigerian is owing and what Other Economies especially America is owing is the fact 60% of the World debt is denominated in Dollars and that Nigeria will sweat much more to earn Dollars through export which is not the case with Other Countries of the World.
He added that this explains why the likes of China, Russia and some Others want to move away from the Dollar and denominate their debts through some precious metals.
He disclosed that their is hope for the nation despite the growing level of debt by the Country adding that Nigeria does not need debt relief but restructuring.
Going Further, He said the nation needs to raise its revenue which is relatively very low at 7% of GDP going forward to ensure the current situation is remedied.
The Nations’ debt will continue to grow because Nigeria does not have much savings to fall back and also due to the fact the nation is an hostage to all sorts of financial conditions that it must meet monthly.
Economist, Professor Ken Ife, disclosed this while speaking to TVC News Breakfast on Tuesday Morning.
Professor Ife said the issue of the nations debt burden will only get worse especially considering issues like Fuel Subsidy still remain in play as the government must find 500 Billion Naira monthly to fund it among Others.
He added that an end is not in sight any time from now but added that it is not such a hopeless situation actually.
He said the World Bank which raised the alarm on the nations’ debt profile has also added that the nations’ vulnerability has also increased with the current debt profile.
Going Further he added that the bank said on the quantum of what the Country is currently owing still feels that the percentage to GDP is still 23% which is less than the 40% threshold which is the dangerous cut off point that the Bank sees as being inimical to development.
He however said the reality of the situation is that the repayment of the debt and its service by Nigeria is becoming increasingly unsustainable.
He said the projected revenue and debt repayment for 2023 which is 123% of Revenue is not something that looks good on any platform.
On the difference between what Nigerian is owing and what Other Economies especially America is owing is the fact 60% of the World debt is denominated in Dollars and that Nigeria will sweat much more to earn Dollars through export which is not the case with Other Countries of the World.
He added that this explains why the likes of China, Russia and some Others want to move away from the Dollar and denominate their debts through some precious metals.
He disclosed that their is hope for the nation despite the growing level of debt by the Country adding that Nigeria does not need debt relief but restructuring.
Going Further, He said the nation needs to raise its revenue which is relatively very low at 7% of GDP going forward to ensure the current situation is remedied.
The Nations’ debt will continue to grow because Nigeria does not have much savings to fall back and also due to the fact the nation is an hostage to all sorts of financial conditions that it must meet monthly.
Economist, Professor Ken Ife, disclosed this while speaking to TVC News Breakfast on Tuesday Morning.
Professor Ife said the issue of the nations debt burden will only get worse especially considering issues like Fuel Subsidy still remain in play as the government must find 500 Billion Naira monthly to fund it among Others.
He added that an end is not in sight any time from now but added that it is not such a hopeless situation actually.
He said the World Bank which raised the alarm on the nations’ debt profile has also added that the nations’ vulnerability has also increased with the current debt profile.
Going Further he added that the bank said on the quantum of what the Country is currently owing still feels that the percentage to GDP is still 23% which is less than the 40% threshold which is the dangerous cut off point that the Bank sees as being inimical to development.
He however said the reality of the situation is that the repayment of the debt and its service by Nigeria is becoming increasingly unsustainable.
He said the projected revenue and debt repayment for 2023 which is 123% of Revenue is not something that looks good on any platform.
On the difference between what Nigerian is owing and what Other Economies especially America is owing is the fact 60% of the World debt is denominated in Dollars and that Nigeria will sweat much more to earn Dollars through export which is not the case with Other Countries of the World.
He added that this explains why the likes of China, Russia and some Others want to move away from the Dollar and denominate their debts through some precious metals.
He disclosed that their is hope for the nation despite the growing level of debt by the Country adding that Nigeria does not need debt relief but restructuring.
Going Further, He said the nation needs to raise its revenue which is relatively very low at 7% of GDP going forward to ensure the current situation is remedied.
The Nations’ debt will continue to grow because Nigeria does not have much savings to fall back and also due to the fact the nation is an hostage to all sorts of financial conditions that it must meet monthly.
Economist, Professor Ken Ife, disclosed this while speaking to TVC News Breakfast on Tuesday Morning.
Professor Ife said the issue of the nations debt burden will only get worse especially considering issues like Fuel Subsidy still remain in play as the government must find 500 Billion Naira monthly to fund it among Others.
He added that an end is not in sight any time from now but added that it is not such a hopeless situation actually.
He said the World Bank which raised the alarm on the nations’ debt profile has also added that the nations’ vulnerability has also increased with the current debt profile.
Going Further he added that the bank said on the quantum of what the Country is currently owing still feels that the percentage to GDP is still 23% which is less than the 40% threshold which is the dangerous cut off point that the Bank sees as being inimical to development.
He however said the reality of the situation is that the repayment of the debt and its service by Nigeria is becoming increasingly unsustainable.
He said the projected revenue and debt repayment for 2023 which is 123% of Revenue is not something that looks good on any platform.
On the difference between what Nigerian is owing and what Other Economies especially America is owing is the fact 60% of the World debt is denominated in Dollars and that Nigeria will sweat much more to earn Dollars through export which is not the case with Other Countries of the World.
He added that this explains why the likes of China, Russia and some Others want to move away from the Dollar and denominate their debts through some precious metals.
He disclosed that their is hope for the nation despite the growing level of debt by the Country adding that Nigeria does not need debt relief but restructuring.
Going Further, He said the nation needs to raise its revenue which is relatively very low at 7% of GDP going forward to ensure the current situation is remedied.
The Nations’ debt will continue to grow because Nigeria does not have much savings to fall back and also due to the fact the nation is an hostage to all sorts of financial conditions that it must meet monthly.
Economist, Professor Ken Ife, disclosed this while speaking to TVC News Breakfast on Tuesday Morning.
Professor Ife said the issue of the nations debt burden will only get worse especially considering issues like Fuel Subsidy still remain in play as the government must find 500 Billion Naira monthly to fund it among Others.
He added that an end is not in sight any time from now but added that it is not such a hopeless situation actually.
He said the World Bank which raised the alarm on the nations’ debt profile has also added that the nations’ vulnerability has also increased with the current debt profile.
Going Further he added that the bank said on the quantum of what the Country is currently owing still feels that the percentage to GDP is still 23% which is less than the 40% threshold which is the dangerous cut off point that the Bank sees as being inimical to development.
He however said the reality of the situation is that the repayment of the debt and its service by Nigeria is becoming increasingly unsustainable.
He said the projected revenue and debt repayment for 2023 which is 123% of Revenue is not something that looks good on any platform.
On the difference between what Nigerian is owing and what Other Economies especially America is owing is the fact 60% of the World debt is denominated in Dollars and that Nigeria will sweat much more to earn Dollars through export which is not the case with Other Countries of the World.
He added that this explains why the likes of China, Russia and some Others want to move away from the Dollar and denominate their debts through some precious metals.
He disclosed that their is hope for the nation despite the growing level of debt by the Country adding that Nigeria does not need debt relief but restructuring.
Going Further, He said the nation needs to raise its revenue which is relatively very low at 7% of GDP going forward to ensure the current situation is remedied.
Related posts:
Senate Urges MDA’s To Focus On Raising Revenue
Universities Administrators Urged To Work On Raising Revenue
Creation of State Police, addressing Poverty will help in reducing insecurity – PGF DG, Salihu Lukman
N21.73tr debt : Economist cautions FG on external borrowings
IMF warns Nigeria on rising debt service to revenue ratio
Nigeria spends 50 percent of revenue on debt servicing-AFDB
Nigeria’s problem is revenue generation, not debt -Finance Minister
Debt Profile will continue to rise unless Revenue improves -DMO
