The Debt Management Office, DMO, has warned the Federal Government against additional borrowing, saying 73.5 per cent of revenue generated this year will be used to service debt.

Senator-elect and business mogul, Jimoh Ibrahim, has explained how Nigeria can repay its debts within 90 days.

A leading civic organisation, BudgIT has lamented that President Muhammadu Buhari’s government of eight years had plunged Nigeria into high debt, increasing inflation and low growth.

The Debt Management Office, DMO, yesterday said the nation’s public debt rose by N6.69 trillion or 22.47 per cent to N46. 25 trillion ($103.11 billion) at the end of  2022 from N39. 56 trillion ($95.77 billion) at the end of December 2021, with the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, NACCIMA, highlighting its risk to the economy.