The total debt profile of Nigeria by June 30, 2021, was N35.465 trillion, compared to N33.1trillion in the first Quarter of the year, according to official statistics obtained from the Debt Management Office.
The Minister of Finance, Budget and National Planning, Zainab Ahmed has, however, argued there is nothing to panic about the debt level, saying it is sustainable.
The debt profile consists of the Federal Government’s Domestic and external Debts, the 36 State Governments, and the Federal Capital Territory.
However, the Minister was conscious of the reality that the Country was, by the ceaseless borrowing, stretching its revenues, which she pointed out were not at the level Government expected them to be.
Ahmed revealed that the Government had set up a poverty investment and crisis investment fund, noting that Nigeria’s weakest link was the level of revenues, which she disclosed was increasing daily.
