Vice President Yemi Osinbajo who spoke on the 50th convocation of the University of Lagos in Akoka, disclosed that Nigeria’s debt profile is among the many lowest on the earth.
Osibanjo who delivered UNILAG’s convocation lecture with the theme, “Nigeria Rising: The Path to Prosperity”, stated Nigeria’s debt profile is among the many lowest on the earth when in comparison with the dimensions of the economic system.
He additional disclosed that Nigeria had stabilised at 11 per cent over the previous six months.
“We restored medium-term planning with the Economic Recovery and Growth Plan which served as a helpful loadstone in enhancing macroeconomic efficiency, boosting the actual sector of the economic system and constructing infrastructure.
The decline in development, which began on the finish of 2014, has been reversed, inflation has stabilised at about 11 per cent over the previous six months and our present account was in surplus round 1.three per cent of the Gross Domestic Product final 12 months.
“Our overseas reserves can cowl no less than six months of import of products and providers and regardless of comprehensible issues, our debt burden is simply about 22 per cent of the dimensions of our economic system, which is among the lowest ratios on the earth.
“We have very clear objectives. As you know, the problem of our country is not the planning or designing of great projects, it is in the actual implementation. We are fortunate that Muhammadu Buhari is not an orator, he is a doer” he stated.
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