According to him, the country’s debt stock is really getting out of control. He made this known in a recent submission at a virtual event organized by the World Bank Nigeria.
In his submission, he said;
“You can’t fund security more than you are doing now unless you reduce spending on other ministries, departments and agencies.
The extensive way in which the Central Bank is into everything, I think, has to be addressed and dealt with. And we must look at our domestic debt management and do something about it.
It is getting out of control and we are getting to our debt ceiling as far as liquidity is concerned. And to pretend that our debt-to-GDP ratio is still low, I think is not the answer to the question.