Nike PopoolaStakeholders in the economy have expressed worry over the capacity of the country to service its rising debt profile. “For instance, the debt service provision in the 2019 budget was a whooping N2tn whereas the total capital budget was N2.9tn. “It follows that the sum of the recurrent provision and the debt service provision represent 73 per cent of the budget. “It also implies that the debt service is 118 per cent of the capital budget provision. There was also the exchange rate risks inherent in the exposure to mounting foreign debt which we need to worry about, he said.

Source: Punch July 23, 2020 23:26 UTC