RECENTLY, Nigeria’s Minister of Finance, Zainab Ahmed, reportedly stated in an interview that the country’s high debt service is connected with the huge expenditure being incurred in the satisfaction of workers on the government’s payroll. According to media report, she noted as follows: “Our debt service to overall revenue is high because we have a very large expenditure base. We have a large proportion of our budget dedicated to payroll, and Mr. President had decided from the beginning of his administration that we were not going to disengage staff. So, you have to pay salaries, you have to pay pensions. And also, we have to fund the other arms of government, which are the…
Source: Nigerian Tribune
