Debts: We Are Moving Steadily Towards a State of Bankruptcy – Pastor Adeboye
Pastor Enoch Adeboye of the Redeemed Christian Church of God (RCCG), has said that borrowing may land the country into bankruptcy.
Adeboye rued oil theft in the country, saying that the country might go bankrupt if the trend is not checked.
‘Daddy G.O,’ as his followers call him, made this known during his Sunday service sermon on Sunday.
The cleric warned that the country’s debt to service revenue ratio might pose danger for decades.
Pastor Adeboye noted that over 90 per cent of Nigeria’s revenue from crude oil sales is used to furnish interest accruing on debt.
“We are borrowing more and according to a friend of mine, we are moving steadily towards a state of bankruptcy, a whole nation…,” the cleric said.
“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.”