$163BN Debt Shock: Cut Debt Reliance - Wale Edun Warns Nigerians скачать в хорошем качестве

$163BN Debt Shock: Cut Debt Reliance - Wale Edun Warns Nigerians

Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has warned that the country must reduce its dependence on borrowing and build a stronger domestic revenue base to stabilise its finances. Speaking at a retreat of the Nigerian Revenue Service in Abuja, Edun argued that the global financial climate has become increasingly hostile to developing economies, citing 2024 data showing that developing countries paid $163 billion in debt servicing, compared with just $42 billion in overseas development assistance and $97 billion in foreign direct investment. His remarks come as lawmakers such as Olamilekan Adeola maintain that continued loans remain unavoidable due to revenue shortfalls and development pressures. With questions mounting over tax reforms, fiscal sustainability and Nigeria’s rising debt profile, Chief Economist Paul Alaje joins the conversation to assess whether the country can realistically fund growth without deepening its debt burden. Watch the full analysis. SUBSCRIBE to our YouTube channel:    / newscentraltvafrica   for more videos Follow News Central on: Facebook:   / newscentralafrica   Twitter:   / newscentraltv   Instagram:   / newscentraltv   LinkedIn:   / feed   Threads: https://www.threads.net/@newscentraltv TikTok:   / newscentraltv   For more content, go to: https://newscentral.africa #NewsCentral #Nigeria #Politics #AfricaFirst #Africa #News #WestAfrica #ECOWAS #Government #Governance