“Weapon no be groundnut, but deficit fit turn to debt” –
While our debt/GDP ratio is not bad compared to similar countries, the real problem might occur when we work out how to pay these debts. Currently Nigeria spends over 20% of its income servicing debts; if we add another N7trn in fresh debt, this could mean we will spend over 30% of our revenues paying creditors.
http://aguntasolo.com/2015/06/23/anonymous-sauces-explain-the-n7trn-deficit/
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