The President of the African Development Bank, Dr Akinwumi Adesina, has said Nigeria must resolve its debt challenges “decisively” to kindle economic growth. He also called on the authorities to remove the structural bottlenecks that limited the productivity and the revenue earning potential of the huge non-oil sectors. The AfDB President who warned that Nigeria’s debt service to revenue ratio is high also acknowledged that the debt-to-GDP ratio remains “moderate.”He said economic recovery is probable when Nigeria eliminates “structural bottlenecks” that limit the revenue-earning potential of non-oil sectors. “The debt service to revenue ratio of Nigeria is high at 73 per cent. “What is needed for sustained growth and economic resurgence is to remove the structural bottlenecks that limit the productivity and the revenue earning potential of the huge non-oil sectors.”Copyright PUNCH.

Source: Punch October 11, 2021 23:37 UTC