AbaCityBlog
Thursday, July 31, 2025
  • Login
  • HOME
  • Student Guides
  • Scholarships
  • Travel
  • Tech
  • Business
  • Make Money Online
  • Gadgets
  • DIY
No Result
View All Result
  • HOME
  • Student Guides
  • Scholarships
  • Travel
  • Tech
  • Business
  • Make Money Online
  • Gadgets
  • DIY
No Result
View All Result
AbaCityBlog
No Result
View All Result

Nigeria’s debt is getting out of control – Governor Nasir El-Rufai raises alarm

December 11, 2020
in Nigeria News

Kaduna State governor, Nasir El-Rufai has raised an alarm over Nigeria’s debt which according to him is getting out of control.

El-rufai who spoke at a virtual event organised by World Bank Nigeria, stated that the domestic debt was getting to its debt ceiling as far as liquidity was concerned and there’s no need to pretend that Nigeria’s debt-to-Gross Domestic Product ratio was still low.

He said;

“You can’t fund security more than you are doing now unless you reduce spending on other ministries, departments and agencies.

“The extensive way in which the Central Bank is into everything, I think, has to be addressed and dealt with. And we must look at our domestic debt management and do something about it.

“It is getting out of control and we are getting to our debt ceiling as far as liquidity is concerned. And to pretend that our debt-to-GDP ratio is still low, I think is not the answer to the question.”

Commenting on tax collection, El-Rufai alleged that most rich Nigerians don’t pay income tax.

He said;

“It is a travesty that in Nigeria, as at 2018, just about 20 people in the whole country paid more than N20m in income tax. It is a travesty and something should be done.

“I think that rich Nigerians don’t pay taxes. They live in huge houses, drive expensive cars but when you see their tax return, you realise that the civil servants on grade level 12 pay more income tax than they do.”

Tags: Governor Nasir El-RufaiNigeria's Debt
Next Post

Warning: Undefined array key "jnews-75x75" in /home/abacsskt/public_html/wp-content/themes/jnews/class/Image/Image.php on line 114

Warning: Trying to access array offset on null in /home/abacsskt/public_html/wp-content/themes/jnews/class/Image/ImageLazyLoad.php on line 105
President Buhari

Buhari will never succumb to your threats and demands - Presidency tells Nigerians


Warning: Undefined array key "jnews-75x75" in /home/abacsskt/public_html/wp-content/themes/jnews/class/Image/Image.php on line 114

Warning: Trying to access array offset on null in /home/abacsskt/public_html/wp-content/themes/jnews/class/Image/ImageLazyLoad.php on line 105
The Civil Liberties Organisation, Southeast zone is appalled over recent developments in the south east zone and the danger it portends for the people.

Our investigation confirms Nigerian military committed war crimes - ICC

  • About us
  • Advertise
  • Contact us
  • Privacy Policy
Call us: +2347038111972

© 2023 Abacity Blog Media

Social icon element need JNews Essential plugin to be activated.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Contact us
  • Advertise
  • Aba News
  • #OffBeat

© 2023 Abacity Blog Media