The incremental debt in recent years now goes to meet the public sector's large wage and overhead bills.
How much of the concerns around this new "debt trap" is a dialogue about poor revenues? All of it, it would seem. But this is far from the same as inviting discussion of the public sector's revenue-raising capacity or reform of the public expenditure management framework. You cannot manage an economy as poorly as Nigeria's has been over the years, and not experience the current bulimia for borrowing.
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