Nigeria’s debt servicing to consume 72% of revenue by 2030 –DMO

•May hit 97.3% if economy deteriorates

Nigeria may spend nearly three-quarters of its federal government revenue on servicing debt by 2030. This raises germane concerns about the country’s ability to fund infrastructure and other essential services.
The Debt Management Office (DMO) made the projection in its 2024 Debt Sustainability Analysis report released on Monday.
According to the report, the country’s debt service-to-revenue ratio is expected to rise to 71.7 per cent by 2030 under the baseline scenario, exceeding the DMO’s recommended threshold of 50 per cent.
For clarity, the projection means that for every N100 generated by the federal government, about N72 could go towa...