‘Nigeria can save N2tr from debt financing moratorium’

A development economist, Odilim Enwegbara, has said amid the financial difficulties in the land, Nigeria could still enjoy as much as N2 trillion moratorium if it pushes for debts’ rescheduling.

He noted that the huge sum could address some critical projects these trying times.

In a chat with The Guardian yesterday in Abuja, the economist submitted that the most populous black nation required “some very unconditional methods to survive the current difficult circumstances.”

He went on: “ First, we need some unconventional policy approaches if we want to successfully deal with this unfortunate situation. We must sit down with both naira and foreign currency creditors and demand a 12-month moratorium for all our debt service obligations. With this, certainly government will save more than N2 trillion in debt service obligations in its 2020 budget.