Finance Minister Raises Alarm Over Nigeria's Low Revenue Base
File: Money

Nigeria is facing a low revenue challenge due to the country’s rising debt levels, the Minister of Finance Zainab Ahmed has said.

Ahmed noted this on Friday when she visited the Nigeria Customs Service (NCS) Headquarters in Abuja.

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“People have raised concerns about our debt profile, but we do not have a debt problem,” the minister said.

“Our debt ratio to GDP is still below, three per cent, which is the threshold set by the Fiscal Reasonability Act.

“What we have is a revenue problem. We don’t have the revenue to pay salaries and to meet the recurrent as well as the capital expenditure.”