“Debt Service Is Now 108 Percent Of Revenue” – Sanusi Warns 

Former Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi has warned that debt service is now 108 percent of the nation’s revenue

 “In other words, debt service is now 108 percent of revenue. Every naira the Federal Government earns goes to service debt, and it is not enough, (as the FG) has to borrow to service the debt. And then begin to borrow to build roads, pay salaries and overheads.” the former Central Bank Governor asserted while speaking at the Kaduna Investment programme themed “Building a resilient economy.” on Saturday according to a report monitored by SocietyNow.Ng on DailyPost.Ng.

The deposed Emir of Kano was addressing politicians when he made the grave revelation according to the report.

“We are leaving a mountain of debt for our children. They (children) might curse us because we are taking all the money borrowed to subsidise petrol and enjoy it cheaply.” Lamido Sanusi further warned at the Investment event held in Kaduna and reportedly added that “We see the problem and we are going to continue. I’m sorry for the next president who comes in June and says I’m removing fuel subsidy after day one.”