ActionAid, stakeholders express worry over unstable levels of borrowing, rising national debt profile

A non-profit making organisation, ActionAid Nigeria, AAN, and stakeholders, Friday, expressed worry over unstable levels of borrowings and rising national debt profile under the Buhari-led administration and poverty increasing daily.

The Country Director, ActionAid Nigeria, Ene Obi, in an address of welcome expressed worry over upward trend nation’s debt profile has assumed as it keeps piling up and closing the fiscal space for effective delivery of public goods.

According to Ene, as at December 31st, 2020, data from the Debt Management Office (DMO) showed that the nation’s total debt stock stood at N32, 915,514.85t ($86,392.54 billion).

She explained that that ActionAid is convened with other partners, including the Tax Justice and Governance Platform (TJ&GP), in order to drive engagements towards a tax structure that works for the Nigerians.

Meanwhile, she pointed out that continued borrowing is clearly not sustainable both in the short and the long-term but rather enslaving the citizens and future generations.

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