THE NATION
President Bola Ahmed Tinubu has described as unsustainable servicing the nation’s debt with 90 per cent of its revenue. It will be reversed, he said.
The president promised to depart from what he described as a destructive path. Tinubu, who also noted that erratic power supply constituted a major hindrance to the growth of the economy, urged Nigerians to have positive attitude while his government intensifies efforts to reposition the country.
He spoke yesterday at the kick off of the 63rd Nigerian Bar Association (NBA) annual conference. It was at the Velodrome of the Moshood Abiola National Stadium, in Abuja.
The event was witnessed by governors, ministers, lawmakers, business leaders, the diplomatic corps and traditional rulers.
The President was accompanied to the venue by Attorney-General of the Federation and Minister of Justice Lateef Fagbemi (SAN).
The President said any economic theory that makes a country spend nearly all its earnings on debt servicing like Nigeria is currently doing, is unsustainable.
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