Governor Nasir El-Rufai raises alarm over Nigeria's debt, says we are getting into debt ceiling

 


Kaduna State Governor, Nasir El-Rufai has raised an alarm over Nigeria’s debt which according to him is getting out of control. 


The Governor who spoke at a virtual event organised by World Bank Nigeria, said that the domestic debt was getting to its debt ceiling as far as liquidity was concerned and there's no need to pretend that Nigeria’s debt-to-Gross Domestic Product ratio was still low. 

He stated; 

 

 “You can’t fund security more than you are doing now unless you reduce spending on other ministries, departments and agencies.

“The extensive way in which the Central Bank is into everything, I think, has to be addressed and dealt with. And we must look at our domestic debt management and do something about it.

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