The presidential aide claimed that the World Bank, the International Monetary Fund (IMF), and other economic experts have not classified Nigeria’s borrowing status as dangerous.
Daniel Bwala, Special Adviser to President Bola Ahmed Tinubu on Policy Communication, has defended the Federal Government’s continued borrowing from international financial institutions, insisting that Nigeria is not yet in a dangerous debt situation despite mounting public concerns over the country’s rising loan profile.
Bwala made the remarks during an interview on Wednesday on ARISE News, while reacting to reports that many Nigerians flooded the World Bank’s Instagram page, pleading with the global lender to stop approving loans for Nigeria.
The presidential aide claimed that the World Bank, the International Monetary Fund (IMF), and other economic experts have not classified Nigeria’s borrowing status as dangerous.
“The World Bank, IMF, and other global experts have continually said Nigeria’s borrowings are still on amber, not red. We’ve been able to establish a revenue ratio. It’s not much, but it’s not a danger signal,” he said.
