Nigeria: Domestic Debts as Time Bomb

14 March 2012
opinion

Eromosele Abiodun writes that if the Federal and State Governments’ high appetite for domestic borrowing is not checked, it may endanger the entire economy of the nation.

Despite its promises to reduce domestic borrowing to forestall a debt crisis, the Federal Government has continued to dominate activities in the bond market, thereby crowding out the corporates.
Minister of Finance and Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala, recently told  newsmen that  it was high time government checked its rate of domestic borrowing.

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