Business

Nigeria’s Debt Ratio Hits 23%

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The Debt Management Office, DMO, has revealed that Nigeria’s debt to GDP ratio is 23%, which is still within the country’s self-imposed limit of 40%.

Director-general of the DMO, Patience Oniha, made this known during an executive course on budgeting and fiscal responsibility in Abuja.
Oniha stated that one way to reduce budget deficits is to grow revenues and to prioritize expenditure and cut waste and leakages.

Written by: Helen Obih

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