Experts task Tinubu on Nigeria’s rising debt profile

Economic experts have charged the incoming administration to embrace strategies aimed at tackling Nigeria’s debt overhang for economic growth and development.

They spoke at the American Business Council (ABC) Economic Update with the theme: “Nigeria’s Debt Overhang and Strategies to Create Economic Growth” on Thursday in Lagos.

The Chief Economist, KPMG, Dr Yemi Kale, said focus must be on the Consumption, Investment, Government Expenditure, Exports and Imports (CIGXM) economic indices to fully harness the potential of the country’s economy.

Mr Kale said under the CIGXM, Nigeria must begin to boost consumer purchasing power, enhance ease of doing business, provide the right infrastructure, increase public investment and enact fund usage transparency.

He added that the country must increase export tentacles, enhance competitiveness, promote income substitution and address large debt burden and debt servicing ratio to ensure long term economic sustainability.

Mr Kale noted that…


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