Editorial: What would be the country’s future credit worthiness with this huge debt particularly when the international oil market, which guarantees the country’s major foreign exchange earnings, is volatile and highly unpredictable? Nigeria Debt
Who will save us from this menace? Since the current administration came into power in May 2015, its mantra, apart from its characteristic blame game of past administrations, seems to be that of “borrow, borrow and borrow” until there is no more money to borrow anywhere. The recurring news of government borrowing so much today, so much the next day and so on has left many Nigerians worried as to whether the government is actually on a rescue mission or has other unwritten agenda.
With the above situation, so many questions are begging for answers. There are indeed more questions than answers. It is disturbing that the government has been stubbornly going ahead in the procuring of these liabilities despite reservations expressed by different stakeholders in respect of the equitable spread of the projects, possibilities of seamless repayment plan and viability of some of the projects for which the loans are being sought.
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