Jimoh Ibrahim, the Senator representing Ondo South Senatorial district, said Nigeria’s N77 trillion debt should not be a cause for alarm.
Ibrahim, who doubled as a business mogul, disclosed this on Sunday in a statement to Journalists.
He stated that there is a need for President Bola Ahmed Tinubu’s government to have a separate ministry of revenue to be managed by the National treasurer.
His statement is coming on the heels of the ongoing confirmation of 48 ministerial nominees sent to the Senate by Tinubu.
He wrote: The nation’s debts of N77 trillion shouldn’t be a cause for worry considering the current debt to Gross Domestic Product ratio of less than 31 per cent and required innovative ideas of defraying it “.
Kemi Filani News recalls that in late June, Debt Management Office said the country’s total debt stock stood at N49.85 trillion, excluding the N22.719 trillion securitized Ways and Means loans from the Central Bank of Nigeria.
