The Federal Government says the 'alarm and doom' predictions by former Vice President Atiku Abubakar on the country’s debt profile is anchored...
The Federal Government says the “alarm and doom” predictions by former Vice President Atiku Abubakar on the country’s debt profile is anchored on a false premise.
Mr Mohammed said while the Federal Government welcomed constructive criticism, such must be based on verifiable facts rather than “conjectures and innuendos’’. “We are also not able to ascertain the source of the first quarter figures of N943.12 billion for debt servicing and N950.56 billion for retained revenue, which he also quoted,” he said..
He listed some of the measures as the passage and implementation of the Finance Act, 2019, various on-going reforms in the Oil and Gas sector, Tax Administration and Collections, as well as the Strategic Revenue Growth Initiatives. He said to the contrary, the country’s ratio of debt to GDP was one of the lowest in the world at 19.00 per cent as at December 31, 2019.
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