Tinubu’s projects don’t justify Nigeria’s high debt profile – Economist

Economist, Prof. Akpan Ekpo, has said Nigeria’s rising debt profile is not justified by projects undertaken so far under President Bola Tinubu’s administration.

Speaking on Arise Television’s Morning Show on Wednesday, Ekpo said he had yet to see projects that warrant the current debt levels.

He, however, noted that if borrowings were directed towards infrastructure such as power, which could create jobs and stimulate the economy, it would be a positive step.

Ekpo stressed that loans must be transparent and tied strictly to projects that add value and strengthen the domestic economy against external shocks.

“I have not seen projects under the Tinubu Administration that justify Nigeria’s high debt rate for now.

“However, if this administration is borrowing for infrastructure like power, that can create jobs and boost the economy that will be a positive step.

“Borrowings must be transparent and strictly for projects with value that can enable us build a strong domestic economy that can resist external shocks,” he said.