One of the image deficits President Muhammadu Buhari’s-led ruling All Progressives Congress (APC) will carry over into the year 2020 is the proposed $30 billion loan. With this new loan proposal, Nigeria’s debt profile would have risen to almost $50 billion. He explained that the current budget out of which Nigeria spends 25 per cent to service debt “is not the country’s total earning; a lot of it is also borrowing. If anybody comes and proposed any economic solution within this short time other than to borrow, such a person cannot get it right. Has the committee even come up with a direction or proposed any rescue mission?

Source: The Guardian January 01, 2020 03:22 UTC