The bank further expressed concerns over the nation’s cost of debt servicing, which according to it, disrupted public investments and critical service delivery spending.The Fiscal Policy Partner and Africa Tax Leader of PwC, Mr Taiwo Oyedele, expressed his agreement with the World Bank on the high cost of debt servicing.
“Nigeria borrows at double-digit, and even when we borrow in dollars, the rates are very high and then you devalue the naira and the cost of servicing the debt in naira goes up because it is dollar-dominated debt. A former Deputy Governor of the Central Bank of Nigeria and former presidential candidate, Kingsley Moghalu, also criticised the increasing borrowing tendency of the government, urging the officials to re-consider other ways of generating revenue for the country.
By the time buhari finish with Nigeria, Nigeria will look like a zoo.
And the rubbish world bank still dey give them the loan when dem no dey use am for anything
Jiki Magayi
This fulani woman & her employer r thieves
na to dey carry pride in bad thing una sabi😒
But she said their regime did massively well
We have not seen anything... We go still see mememememe
Oga Buhari could be taking another loan soon. Niger could be in need of money urgently 🤷🏾♂️
Nha we go top ham 🤬