The Accountant General of the Federation (AGF), Ahmed
Idris, has allayed the fear that servicing the country’s debt
with 70 per cent of the national income will not
destabilise the economy.
Ahmed, who spoke on Monday in Kano during a visit to
the Emir of Kano, Muhammad Sanusi II, insisted that debt
servicing will not cause the nation any problem, pointing
out that the Federal Government has initiated some
strategies to cushion the effect of the debt profile.
He said: “We are doing our best to meet our obligations,
even though debt services are obligations and we meet
them as at when due. We do not have any problem in
settling our debts.
“It is always a burden paying debt and anyone paying debt
would know that he is just meeting a burden which has to
be made in line with the agreements, some local and
international debts, but we just have to abide by all our
agreements and obligations.”
Reacting on the 30 per cent revenue generation for the
nation’s expenditure, Ahmed explained: “There are number
of ways the Federal Government is deploying to boost its
revenue generation drive”.
He listed the strategic revenue growth initiative under
which all the revenue generating ministries, parastatals are
given portfolios to meet revenue targets as one of the
critical measures rolled out by the government.
The AGF noted: “All these agencies are given the
responsibilities to generate and they are working
assiduously to meet up their revenue portfolios.
“So, all these efforts are part of the strategic measures,
among other efforts, the federal government is being put
in place as strategic plan to boost the revenue generation
of the nation.
“Evidently, we are beginning to reap the benefit, but more
importantly, the meager amount for spending is being
spent efficiently and diligently.
“We have stopped a number of leakages and we would
continue to do that because that is what is required to
have an efficient public expenditure, with prudent
accountability in order to achieve the required efficiency.”
Emir Sanusi II had expressed concern that 70 per cent of
the revenue being generated was being used in servicing
debt.
He tasked the AGF to be prudent enough in the
management of the country’s treasury as those entrusted
with public funds must have the fear of God at heart.
The monarch said: “It is very important and honorary
responsibility to manage the nation’s treasury especially at
this time, where the physical position of government on
the balance sheet has been stretched because of debt
service.

https://thenigerialawyer.com/agf-servicing-debt-with-70-of-income-okay/

Where's buhari asslickers to defend him as expected. please nairalanders should tell me how infrastructures and our economy will survive in clueless buhari government .

The truth is, Baba Lifeless is a complete dunce and he's waiting patiently to plunge this nation into another round of recession.

chai we are doom for 70% whem do we do here

I may not be an economist but I think with 70% of our national income being channelled at debt servicing is a huge catastrophe waiting to explode when the funds acquired are not being judiciously utilized.
This country is truly sitting on a pile of Uranium.

buhari is about power, he's not about governance and economy revamping. he has no idea of how to transform our economy. up till today, the new minimum wage have never been paid by the fg. this same clueless tyrant buhari keep on shielding his corrupt governors that destroyed the economy of their various state including looting of the state treasury. up till today, Efcc and icpc hasn't probe them yet. the clueless tyrant buhari second term is all about playing his blame game as expected. up till today nothing minister, Chief of staff, ssg and head of agencies. he's only about power. and the so called bolustical all whatever he called himself will be on nairaland ranting and playing tribal politics on social media. we are in for it in the next level of his tyrant leader.

jadeliyi:
chai we are doom for 70% whem do we do here

not only doom, scam. I hope you know that our GDP per capital income is 2% very low.

No wonder the bloodthirsty Jihadist put him back to cover up his cabal massive looting of Niger Delta Oil Money.

How on earth will 70% of my salary deducted from source and the remaining 30% be enough for me and my family even if am earning 2.5M per month??

This country is due for division. Aswear

Enough

Johnnyessence:
not only doom, scam. I hope you know that our GDP per capital income is 2% very low.

very low bro, write my research about nigeria economy i have been think all this while

Imagine the kinds of daft humanity Buhari surrounded himself with in government.Any wonder Nigeria is where it's today?

jadeliyi:

very low bro, write my research about nigeria economy i have been think all this while

very bad I must say. The hyprocrites buhari asslicker on nairalander won't comment on this. It's when you see Atiku post or pdp post that they will be jumping from one thread to another. I learnt that most of them are paid #30k per month .At least in the next 4 years, they will be collecting #1.4m in 4 years. No wonder most of them are over nairaland 24/7. I will have to limit my response to them. Buhari keep on wasting Nigeria money on frivolities .

External reserves: Anxiety mounts as debt service-to-revenue hits 70%.

For those of us that didn’t go to school, it means out of every N100 we earn, we spend N70 repaying debt, only 30 to run the country, 28 of which is stolen anyway.

Nigerians must have sense by force.

[s]

Johnnyessence:
buhari is about power, he's not about governance and economy revamping. he has no idea of how to transform our economy. up till today, the new minimum wage have never been paid by the fg. this same clueless tyrant buhari keep on shielding his corrupt governors that destroyed the economy of their various state including looting of the state treasury. up till today, Efcc and icpc hasn't probe them yet. the clueless tyrant buhari second term is all about playing his blame game as expected. up till today nothing minister, Chief of staff, ssg and head of agencies. he's only about power. and the so called bolustical all whatever he called himself will be on nairaland ranting and playing tribal politics on social media. we are in for it in the next level of his tyrant leader.

[/s]
Trash

Bolustical:
[s][/s]
Trash

so this is the level you have limits yourself into. no wonder you have nothing to contribute here. tyrant buhari asslicker are hyprocrite. you better call-out your asslicking collegues to defend tyrant buhari here.

What nonsense is this please

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