ABUJA – The Presidency on Tuesday faulted the recent reports by International monetary fund (IMF) and Agusto and CO. on the growth of Nigeria’s debt service and debt levels over the years.
A press statement emanating from the office of the Debt management office, Abuja and made available to the Nigerian OBSERVER in Benin City yesterday Stated that the author of the alleged evil reports have failed to consider the challenges experienced by Nigeria in recent times as a result of two recessions, sharp drop in Revenues and security challenges.
The presidency further noted that the analysis as reported do not acknowledged the improvements in infrastructure which have been achieved through borrowing as well as the strong measures by the Government to grow revenues.
According to the Presidency, “The DMO reiterated the fact that the Government is already implementing policies towards increasing revenues and developing infrastructure through Public Private Partnership arrangements both of which improve debt sustainability”.
Continuing, the DMO also noted that the Government has active and regular engagements with the IMF on borrowing and debt management, adding that with this case the reports have fail to consider the challenges experienced by Nigeria in recent times.
