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While the Nigerian government is scrambling to finance its budget, a whooping ₦1.45 trillion could lead to another case of bad debt for the Nigerian National Petroleum Corporation (NNPC).
CBN printed ₦2.86 trillion in 2020 without proprietary economic activities to match;
The statutory transfer had an unparalleled increase of ₦12.04 billion;
It is said that local and external debts are not altogether bad in themselves except they are used to fund unproductive investment or productive ventures that are not managed efficiently. Unfortunately, for a country as Nigeria, the exception is the case.
