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NIGERIA’S DEBT PROFILE TO HIT 38 TRILLION.

NIGERIA'S DEBT PROFILE TO HIT 38 TRILLION.

The minister of Finance, Zainab Ahmed has said that Nigeria’s debt is projected to rise up to 38 trillion naira by the end it the 2021 financial year. The minister revealed this troubling information when she appeared before the senate Committee on local and foreign debts.

Despite the projected hike in borrowing, Zainab said that lack of funds has truncated  the completion of road projects and other capital projects in the country.

Of course, the painful question on the minds of Nigerians is that what impact has the borrowed monies on the strained economy? When would this borrowing end?

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Written by Hiam Terhile

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