The Nigeria Employers Consultative Association, NECA, weekend, warned that the nation’s rising debt profile is not sustainable, advising that government adopts the Public Private Partnership, PPP, in addressing the huge infrastructure deficits.
NECA’s declaration came against the backdrop of a statement credited to
Minister of Information and Culture, Lai Muhammed, last weekend that
the Federal Government has a lot to show for loans so far taken and that
those criticizing the President Muhammad Buhari’s administration for
borrowing were insincere.
Director-General of NECA, Timothy Olawale, who spoke for the
employers’ body, contended that adopting the PPP approach to financing
infrastructure deficit, is the best in a very short term and at a cheaper
Olawale also disclosed that members are more worried about the sharp
rise in expenditure profile, against marginal increase in the nation’s
He said: “We applaud the mammoth infrastructural development being
carried out by this administration since inception; however, it is our
belief that more can be achieved with the huge natural, human resources
and capabilities available within the economy, if managed appropriately.
It could be Recall that experts, including frontline economist, Dr Ayo
Teriba, had raised similar alarms last week, saying the country’s debt
profile was not sustainable.