The Federal Executive Council (FEC), yesterday said there was no cause for alarm on the country’s rising debt profile, saying it was sustainable.
Minister of Budget and National Planning, Udoma Udo Udoma, stated this at the end of the meeting, presided over by Vice President, Yemi Osinbajo.
He told State House reporters: “Our debts are sustainable. We do have a revenue challenge and we are focusing on that. Once the revenues come up, it will be obvious that we don’t have a debt problem at all.”
Udoma said they are working on a number of initiatives to increase the country’s revenues.
“We are looking at initiatives to widening the tax pays. We are looking at initiatives to increase efficiency in collections. We are looking at a single window, which will help to increase efficiency, customs collections. We are looking at many different ways to improve revenues,” the minister said.