FG Finally Breaks Silence On Nigeria’s Rising Debt

The Federal Executive Council (FEC) yesterday noted there is no cause for worry over the country’s rising debt, adding that servicing it is sustainable.

Through the minister of budget and national planning, Udoma Udo Udoma, made this known at the end of the FEC meeting that was presided over by Vice President Yemi Osinbajo.

He spoke to reporters at the State House that though the country has a revenue challenge, it does not have a debt problem.

He said: “Our debts are sustainable. We do have a revenue challenge and we are focusing on that. Once the revenues come up, it will be obvious that we don’t have a debt problem at all.”

The finance minister said that they are working on ways to make the country’s revenue generation better.

He added: “We are looking at initiatives to widening the tax pays. We are looking at initiatives to increase efficiency in collections. We are looking at a single window, which will help to increase efficiency, customs collections. We are looking at many different ways to improve revenues.”