Debt to revenue: DMO warns FG against more borrowings

The office noted that the projected FGN Debt Service to Revenue ratio of 73.5 per cent for 2023 is high and cannot support higher levels of borrowing, and is also a threat to debt sustainability.

Thus, it advised the government to focus on increasing revenue generation, stressing that attaining a sustainable Debt Service-to-Revenue ratio will require increasing FGN revenue from N10.49 trillion projected in 2023 budget to about N15.5 trillion.

Business Hallmark: Read More