Former Kaduna Central senator, Shehu Sani, has claimed that the All Progressives Congress-led adminstration was bereft of accomplished economists who could help the country.
Sani’s assertion was connected to the economic meltdown in which Nigeria was enmeshed.
Director General of the Debt Management Office (DMO), Patience Oniha, on Wednesday, said Nigeria needed to earn higher revenue and manage its debt profile more efficiently.
Oniha further argued: “The World Bank’s World Economic Outlook for 2020 showed that Nigeria with a revenue to GDP ratio of 6.3 per cent was ranked at 194 out of 196 countries covered.
“The DMO has repeatedly emphasised the need to grow revenues significantly in order for debt to be sustainable.
“Revenue is the way to go and that is how countries develop and use borrowing to augment revenue shortfalls now and again.”
Shehu Sani, who reacted to the development via his verified Twitter handle on Thursday, said Nigeria was trapped in economic quagmire.
He added that the the present adminstration continued to fail in this regard due to shortage of economic experts.
“The Debt Management Office has revealed that our cost of debt servicing has now exceeded our revenue earnings. It’s impossible to identify any reputable and accomplished economist under this administration”, he noted.
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