Servicing debt with 90% revenue is a path to destruction — Tinubu

Ndokwa Vanguard August 28, 2023 2 minutes read

President Bola Tinubu has said his administration will not continue to service the country’s debt with 90 percent of its revenue.

Speaking at the Annual Conference of the Nigerian Bar Association in Abuja on Sunday, August 28, Tinubu said the country will be heading to destruction should that continue.

He said;

“Can we continue to service external debts with 90% of our revenue? It is a path to destruction. It is not sustainable. We must make the very difficult changes that are necessary for our country to get up from slumber and be respected among the great nations of the world.

“To build a great nation, we must make bold decisions; even though it may be painful at the moment, it is not about you and me. It is about our generation yet unborn.”

Tinubu also promised that his administration would ensure that Nigeria generates and distributes the electricity the economy requires to thrive.

He added;

“Yes, it is a shame not to have adequate electricity for the mass majority of homes in Nigeria and to power our industries. How can we address poverty without electricity? We can take many people out of poverty with an uninterrupted electricity supply. Poverty is not acceptable, and we must banish it.”