Nigeria should be worried about the percentage of its revenue that goes into servicing of debts rather than the size of the debts, the World Bank has said.
The World Bank Lead Economist for Nigeria, Mr. Khwima Nthara, said this in Washington, United States, while answering questions from journalists from several African countries through video conference to mark the release of a report on the continent economies entitled: ‘Africa Pulse’. Nthara said Nigeria total debt profile was sustainable but added that the cost of servicing it, especially the domestic debt, was too high and out of sync with the country revenue profile.
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He said, “Yes, debt has been on the increase, but Nigeria\’s debt remains low.
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