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The federal government has insisted that Nigeria’s borrowing remains sustainable in the short, medium to long term levels, guided by the DMO objective of prudence. But the problem is not necessarily that we are borrowing, the problem is that we are spending some 60 per cent of national revenue on debt servicing. Without a truthful and forthright government’s acceptance of the debt situation, Nigeria’s chances of escaping its self-inflicted debt trap are fleetingly small. Nosa James-Igbinadolor reports

Since coming into office in 2015, the Buhari administration has ballooned the nation’s debt to as high as $86 billion. A senior fellow …