We can take more loans, Nigeria not borrowing like Egypt, South Africa, others – Presidency

The Presidency, on Tuesday, defended Nigeria’s borrowing profile, insisting that the state has not accumulated indebtedness astatine the level of nations specified arsenic Egypt, South Africa and Senegal.

Presidential spokesman, Bayo Onanuga, stated this successful a station connected X portion reacting to concerns implicit Nigeria’s rising indebtedness illustration nether the medication of President Bola Tinubu.

According to Onanuga, Nigeria remains creditworthy and tin inactive get much loans to concern infrastructure projects crossed the country.

“Nigeria has not implicit borrowed compared to countries similar Egypt, South Africa and West African state of Senegal. Nigeria is recognition worthy and tin inactive instrumentality much loans to concern infrastructure. 

“The unwarranted alarm against loans is symptomatic of economical and fiscal ignorance,” helium wrote.

His remarks followed a station by an X idiosyncratic @Akinwumi who argued that Nigeria’s debt-to-GDP ratio remains little than that of Egypt and South Africa.

The idiosyncratic maintained that loans utilized for infrastructure, electricity, transport, net expansion,...