The Chairman, Revenue
Mobilisation, Allocation and Fiscal Commission, Mr. Elias Mbam, has
cautioned state governments against amassing external and domestic
debts.
Mbam made the call in an interview with the News Agency of Nigeria on Monday in Abuja.
He said the commission
had recommended that states should limit their total exposure to
external and domestic borrowing to not more than 20 per cent of their
monthly allocations from the Federation account.
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