Financial experts have advised the Bola Ahmed Tinubu-led Federal Government to consider utilizing the Public-Private Partnership (PPP) option to address the infrastructural challenges faced by the country. According to a report by NAN, these experts shared their insights in separate interviews conducted in Lagos on Saturday.
In regard to the nation’s escalating debt profile and infrastructure deficits, Dr. Uju Ogubunka, the former Executive Secretary of the Chartered Institute of Bankers of Nigeria (CIBN), emphasized the importance of the government adopting innovative approaches to tackle developmental projects without accumulating more debt. He suggested that Public-Private Partnerships should be explored as a means of addressing the country’s infrastructure challenges, stating that this model could be a viable solution given the current poor fiscal revenue situation.
Likewise, Mr. Godwin Anono, the President of the Standard Shareholders Association of Nigeria, emphasized the urgency for the government to reduce its borrowing rate, as the country’s debt stock has reached alarming levels. He stressed the need for all three tiers of government to minimize borrowings and focus on generating revenue internally through innovative means.
It is worth noting that the Debt Management Office reported a rise in the country’s debt to N49.85 trillion in March 2023, excluding the N22.719 trillion loan recently secured by the Central Bank through Ways and Means.
