News

Nigeria’s Debt And Borrowings Is Still Sustainable – Buhari

Published

3 years ago

October 7, 2021

The President who told Nigerians not to be dismayed with the debts accrued noted that the borrowings are needed and helped in bringing the country out of recession and boosting the economy.

President Muhammadu Buhari has justified the constant borrowing of loans, stating that the country’s debt profile is still within a sustainable level..

Buhari justified his administration’s continous borrowing while presenting the 2022 budget estimate before a joint session of the National Assembly on Thursday October 7.

The President who told Nigerians not to be dismayed with the debts accrued noted that the borrowings are needed and helped in bringing the country out of recession and boosting the economy.

Revealing that his administration’s goal is to grow the country’s Gross Domestic Product (GDP) from the current 8 per cent to 15 per cent by 2025, Buhari added that the 2022 budget is designed to build on the achievements recorded in previous budgets and to actualize the 2021-2025 development plan.