Governor Nasir El-Rufai of Kaduna State cried out on the amount of debt Nigeria owes, according to him, Nigeria has reached her debt ceiling.
El-rufai said that the debts accumulated is so much that the it need stop be immediately addressed and dealt with, he further revealed that security can’t be funded more than how the government is doing now because money from other Ministries can’t be reduced.
He stated this at a virtual meeting organised by the World Bank, Nigeria on Thursday, December 10.
“You can’t fund security more than you are doing now unless you reduce spending on other ministries, departments and agencies.
“The extensive way in which the Central Bank is into everything, I think, has to be addressed and dealt with. And we must look at our domestic debt management and do something about it.
“It is getting out of control and we are getting to our debt ceiling as far as liquidity is concerned. And to pretend that our debt-to-GDP ratio is still low, I think is not the answer to the question.
The Governor further lamented that, most rich Nigerians do not pay taxes despite the fact that they live in huge houses and drive expensive cars. He added that it is a travesty and it needs to be immediately addressed.
In his words;
“It is a travesty that in Nigeria, as at 2018, just about 20 people in the whole country paid more than N20m in income tax. It is a travesty and something should be done.
“I think that rich Nigerians don’t pay taxes. They live in huge houses, drive expensive cars but when you see their tax return, you realise that the civil servants on grade level 12 pay more income tax than they do.”