Mathew Verghis, the World Bank’s country director for Nigeria, says Nigeria’s biggest fiscal challenge is weak revenue mobilisation rather than excessive debt.
Speaking during an interview on Channels Television on Friday, Mathew Verghis, the World Bank’s country director for Nigeria, said Nigeria’s debt profile is not the primary concern, stressing that increasing government revenue should be the country’s priority.
“From our assessment, Nigeria doesn’t have a high indebtedness problem, it has a low revenue problem,” Verghis said.
He said the country’s debt level, relative to the size of its economy, is lower than that of many peer countries and should not be compared with countries facing debt distress.
“When we looked at the numbers, Nigeria is a moderately indebted country, meaning it has less debt relative to its economy than most of its neighbours and many other countries,” he said.
“Nigeria is in a
