NESG launches debt roundtable
Written by MaryGift Sunday on March 24, 2021
The Nigerian Economic Summit Group (NESG) and the Open Society Initiative for West Africa (OSIWA) have launched the Debt Management Roundtable to help Nigeria and West African Countries provide a pathway to fiscal sustainability.
Speaking at the launch, the Chief Executive Officer of the NESG, Mr. ‘Laoye Jaiyeola said Nigeria’s debt to GDP ratio has increased over the years but the relationship between both keeps rising.
He stated that Nigeria’s ability to service its debt is concerning, especially given that about 83 per cent of the country’s revenue is spent on debt servicing.
He said the roundtable will provide alternatives and recommendations that the government can apply to ensure that Nigeria’s debt is properly managed.
Chairman of the NESG-OSIWA Debt Management Roundtable, Mr. Taiwo Oyedele, said debt burden was not about the present but the future.