Adi, Etobo, Anikulapo seek end to unsustainable public borrowings

guardianng's logo

Guardianng June 23, 2021 1:30 a.m.

Adi, Etobo, Anikulapo seek end to unsustainable public borrowings

Anikulapo Adi, who gave a keynote on ‘Debt Burden and Quest for Economic Recovery’ at the unveiling of Prime Business Africa, a new online newspaper, said the country’s debt to gross domestic product (GDP) was tolerable at 22 per cent.

He observed that Nigeria’s tax to GDP “is currently about nine per cent, which is half of other Africa’s 18 to 20 per cent performance”, advising that the government reviews the opportunities in tax funding as against its rising appetite for debt.

Eloho, who is a consultant for public and private sector organisations in the United States, said no country borrowed for consumption escapes a major financial crisis, noting that Nigeria’s debt accumulation rate called for caution..

Read Full Story

Weather Report

10.78

weather-icon

Thursday, March 28

Stay pulsed! Stay informed!