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Published 12 April 2021
Nigeria’s indebtedness to domestic and foreign creditors will remain topical for as long as our macroeconomic fundamentals continue to head south and remain negative. In a country with a massive need for infrastructure, steeped in poverty, reputed as the poverty capital of the world and where unemployment exceeds 33% of the population, ready and willing to work, the debt question will not go away. This discourse reviews the law and policy environment as well as the critical challenges facing Nigeria with its huge indebtedness.
Some fundamental assertions are imperative. The first is that every debtor is under obligation to repay their debts, no matter how long it takes. The second is that it is the height of infamy for a generation to borrow and mismanage the proceeds of borrowing and leave the debts because of their long-term nature to a future generation who did not in any way contribute to the mismanagement of the debts. Th
Nigeria s revenue challenges and the imperative of government borrowings - By:
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Nigeria s public debt rose to N32 9tn in Dec – DMO – Punch Newspapers
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Uganda debt exceeding limit - AG warns govt
Friday March 12 2021
Summary
Projection
“As government continues to support economic recovery through the provision of economic stimulus package to various sectors, debt is projected to increase further over the near term. I advised the PS/ST [Secretary to the Treasury] to devise a comprehensive strategy to align revenue mobilisation and fiscal policy management, as well as reducing/rationalising government expenditures,” Auditor General, John Muwanga
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The Auditor General (AG), Mr John Muwanga, has warned that Uganda’s national debt has escalated and threaten to overshoot the limit.
The AG cautioned that if government does not restrain its hunger for loans, the debt will be unsustainable and future governments will not be able to borrow.