Nigerian Government Knocked Over Excessive Borrowing

Experts Advise Government To Explore Innovative Ways Of Increasing Revenue And Stop Borrowing

President Mohammadu

The Chairman of the Nigeria Economic Summit Group (NESG), Mr. Niyi Yusuf and the Chief Executive Officer of Emerging Africa Capital Mrs. Toyin Sanni have called on the federal government to reduce its borrowing and increase the level of tax collection to boast revenue generation.

They made the call at the Vanguard Economic Discourse in lagos tagged “Taming Inflation and Stimulating Growth.”

They agreed that inflation had become a daunting menace and gave recommendations such as the removal of fuel subsidies, collaboration between the fiscal and monetary authorities, reduction in government spending, among others as ways to stimulate economic growth.

Mr Yusuf specifically asked government to enhance efficiency and transparency while reviewing all forms of targeted subsidies, tax waivers, and incentives.

He added that there should be an integrated fiscal management strategy to expand the funding mix through public-private partnership , innovative structured finance, and intervention funds.

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