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FG Puts Debt Stock At $83bn, Says Nigeria Not In Trouble

Minister of Information and Culture, Mr Lai Mohammed, addressing a press convention in Lagos on December 30, 2019. Photo: Twitter- @FMICNigeria

 

 

The Nigerian Government has put the whole public debt inventory of the nation at $83 billion.

The Minister of Information and Culture, Mr Lai Mohammed, disclosed this whereas addressing a press convention on Monday in Ikeja, Lagos State.

He decried that the nation’s debt inventory was being misrepresented by these he described as scaremongers.

According to Mohammed, Nigeria isn’t in debt hassle as being circulated because the nation is inside an affordable debt to its Gross Domestic Product (GDP) ratio.

He defined that the debt was an accumulation of successive authorities actions, including that the financial state of the nation was good.

The minister famous that the financial system has grown within the yr 2019 below assessment, including that the oil and non-oil sectors carried out higher than they did in 2018.

He additionally highlighted a few of the feats recorded by the federal government within the areas of anti-corruption warfare and safety.

Mohammed stated the corruption battle was largely profitable and whereas safety, particularly the insurgency within the North East has been tackled correctly.

He, nevertheless, admitted that there have been nonetheless pockets of assaults within the area, saying the federal government was on high of the scenario.

The minister additionally knowledgeable the reporters that the federal government has made progress in offering meals for the folks, saying Nigeria was near meals self-sufficiency.

He additionally defended the continued closure of the nation’s borders, saying it has helped native meals manufacturing and curbed crime and violent actions.

Another good thing about border closure, in line with Mohammed, is the decline observed within the charge of unlawful migration into the nation.

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