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El-Rufai condemns Nigeria’s debt profile, worries about low GDP ratio

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Governor Nasir El-Rufai of Kaduna State has raised alarm over Nigeria’s high debt profile, lamenting that it is spinning out of control.

He spoke at a virtual event organised by the World Bank in Nigeria.

The governor said the country’s domestic debt was getting to its debt ceiling as far as liquidity was concerned.

According to El-Rufai: “We must look at our domestic debt management and do something about it.

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“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.”

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