The Federal Government says the "alarm and doom" predictions by former Vice President Atiku Abubakar on the country's debt profile is anchored on a false premise.

In the statement, the minister stressed that the scenarios on the country's debt profile as painted by Mr Atiku in a release he issued on Tuesday had no basis.

The minister said the figure of Nigeria's debt to revenue ratio of 99 per cent in the first quarter of 2020, quoted by Mr Atiku was not in the Medium-Term Expenditure Framework and Fiscal Strategy Paper, where he claimed he got it from.

The minister said Nigeria had not experienced alarming and unprecedented increase in the ratios of debt to GDP and debt service to revenue as posited by Mr Atiku.

Mr Mohammed added that the government is making concerted efforts to increase revenue so as to bring down the ratio of debt service to revenue.