Minister of Finance, Kemi Adeosun on Moday said she was not worried about Nigeria’s rising debt
Speaking in Abuja, the minister explained that with over N2.5trillion pumped into infrastructure in the last three years, the country will start seeing the benefits.

According to the Minister, Nigeria has enough capacity to repay its debt obligations, which currently stand at about N21.7trillion.

She explained that the Government was not worried about the country’s rising debt as the debt to Gross Domestic Product ratio was still low compared to other countries.

The Minister said: “I am not worried at all (about rising debt). Our borrowing is sustainable and well managed. Firstly, we took a decision to reflate the economy. Our borrowing is a true reflection of our economy

“When your income has gone down, the only place you can go is to borrow. It was a strategic decision. We borrowed and invested heavily in infrastructure and then increased our revenue so that we could pay back the debt.

“It was a deliberate decision. We looked at our budget in terms of size and increased it from N4trillion to N7trillion so that we could focus on developing our infrastructure.”