Debt Servicing May Take All of Nigeria’s Revenue by 2026, IMF warns

The International Monetary Fund (IMF) has warned that the Nigerian government may spend nearly 100 per cent of its revenue on debt servicing by 2026

The Bretton Wood institution raised concerns over Nigeria’s fiscal conditions, adding the nation spends 89 per cent of its revenue on debt.

The IMF’s Resident Representative for Nigeria, Ari Aisen, made this known on Monday in Abuja while presenting the fund’s latest Sub-Saharan Africa Regional Economic Outlook report.

IMF also warned that with fuel subsidy payments averaging N500 billion monthly, total expenditure on subsidy could hit a record N6 trillion by the end of the year.

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