The Director-General of the Budget Office, Ben Akabueze, has warned that Nigeria's debt-to-revenue ratio is poor, which limits the country's borrowing capacity and could lead to trouble if it exceeds its limits. He explained that although Nigeria's debt-to-GDP ratio is healthy, its debt-to-revenue ratio is not.

Akabueze addressed the members-elect of the 10th National Assembly during their induction ceremony, highlighting the role of the National Assembly in the consideration, amendment, and passage of annual budgets and economic bills like the Finance Bill.

He stated that Nigeria's borrowing space is limited due to its small revenue, which cannot sustain the country's current debt size, resulting in a high debt service ratio. 

A country is considered to be in trouble if its debt service ratio exceeds 30%, and Nigeria is pushing towards 100%, which is an indication of how much trouble the country is in. Consequently, Nigeria must prioritize its projects based on what it can generate in terms of revenue and borrowings.

source; the Punchng.com
link;https://punchng.com/trouble-looms-over-rising-debt-budget-office-warns/