Debt service poses major challenge for Nigeria ― Godwin Obaseki

The Edo State Governor, Mr. Godwin Obaseki, has stated that Nigeria has a serious challenge considering its huge debt service obligation.

With as much as N1.84 trillion earmarked in the budget for debt service alone, he said there was no doubt that this was a huge challenge for the country.

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Speaking when he paid a courtesy visit on the newly-appointed Director-General, Debt Management Office (DMO), Ms. Patience Oniha, in Abuja yesterday, he said he realised the challenges facing the nation, and was conversant with the federal government’s balance sheet.

According to him, the appointment of Oniha to superintend over the affairs of the DMO at a time like this was one of the best steps taken by the government.

He stated that managing Nigeria’s debt at this critical period required someone who is clear-headed and unquestionably competent like the new DMO chief executive.

Oniha’s appointment, he added, was propelled by two factors, including God’s divine intervention and her competence, stressing that nobody lobbied for her to get the job.

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