Afe Babalola urges incoming federal government to seek debt relief for Nigeria

Foremost lawyer, Afe Babalola, on Sunday, at Ado-Ekiti, the Ekiti State capital, urged the incoming administration of Bola Tinubu to prioritise debt forgiveness from Nigeria’s creditors and multilateral financial institutions.

Mr Babalola, a Senior Advocate of Nigeria and the proprietor of Afe Babalola University, Ado-Ekiti, gave the advice on the side-line of a lecture delivered at the university by a professor of Intelligent Infrastructure System, Bamidele Adebisi.

The lecture was entitled: “Smart infrastructure: Catalyst for sustainable development.’’

Mr Babalola argued that debt forgiveness or cancellation would help to relieve Nigeria of its foreign debt overhang, noting that the country currently uses a sizeable percentage of its revenue on debt servicing.

He also enjoined the incoming administration to cut expenditures and undertake reforms to scale down governance costs and ease the country’s fiscal burden.

In the lecture, Mr Adebisi said technology had…

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