Pastor Enoch Adeboye of the Redeemed Christian Church of God (RCCG), has expressed worry that borrowing may land Nigeria into bankruptcy.
Adeboye stated this during his Sunday service sermon.
Daddy G.O,’ as his followers call him, warned that Nigeria’s debt to service revenue ratio might pose danger for decades, noting that over 90 per cent of Nigeria’s revenue from crude oil sales is used to furnish interest accruing on debt.
According to him: “We are borrowing more and according to a friend of mine, we are moving steadily towards a state of bankruptcy, a whole nation…,”
“That is why we are going to pray so that our children and children’s children do not keep paying debt. We are still borrowing.”
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