Debt-distressed Nigeria sets ‘ambitious’ revenue target ...News

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Debt-distressed Nigeria sets ‘ambitious’ revenue target
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The African nation plans to increase oil production to at least 2 million barrels per day, its finance minister has said Nigeria is aiming to increase revenues by 60% this year to help keep debt at sustainable levels and alleviate economic hardship, Finance Minister Wale Edun said on Wednesday, according to the Semafor Africa news outlet. While the target is ambitious, it is necessary for the West African country to reduce its fiscal deficit from 6.1% of GDP to 3.8%, Edun said in a speech at Semafor’s World Economy Summit in Washington. According to the Nigerian Debt Management Office, Abuja’s public debt reache

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