Nigeria’s revenue base is low – Finance Minister

The Minister of Finance, Zainab Ahmed, says Nigeria’s debt appears high because the country is currently facing a low revenue challenge.

Mrs Ahmed, during a visit to the Nigeria Customs Service (NCS) Headquarters on Friday in Abuja, stressed the importance of improving revenue generation to enable Nigeria to achieve its economic objectives.

“People have raised concerns about our debt profile, but we do not have a debt problem.

“Our debt ratio to GDP is still below, three per cent, which is the threshold set by the Fiscal Reasonability Act.

“What we have is a revenue problem. We don’t have revenue to pay salaries and to meet the recurrent as well as the capital expenditure,” she said.