Mr Momoh Aliyu, a financial expert says Nigeria’s infrastructure deficit requires borrowing to meet the desired revenue generation to propel accelerated development. According to him, the infrastructure deficit has led to a revenue deficit in budgeting, hence the need for an external loan to meet up with the infrastructure. Nigeria’s debt stood at 63 billion dollars as at 2015 and currently stands at 83 billion dollars. “With the new request of about 29 billion dollars, this means the country’s loan profile will be well over 100 billion dollars in 2020 if the loan is approved. “The Nigeria Debt to GDP is less 30 per cent which is still within the threshold and portends not too much of a problem but of course risky.

Source: The Guardian January 01, 2020 11:48 UTC