Nigeria’s Debt Service Ratio Drops From 66% To 45%
The Nigeria debt-service-to-revenue ratio has recorded a new decline from about 66 per cent to 45 per cent. This is as a result of the improving revenue mobilisation from both domestic and foreign sources.
The decline will now see to the deployment of more funds to the areas of development needs, while work is ongoing to tame high cost of short term domestic debts.
The Minister of Finance, Kemi Adeosun assures of continued improvement from now onward as revenue initiatives begin to deliver more.