Nigeria’s Debt: Economist Ekpo identifies major problem with Tinubu’s govt borrowing

Renowned economist, Professor Akpan Ekpo, has said there is nothing wrong with Nigeria borrowing to finance its budget deficit, provided such loans are properly analysed and channelled into productive capital projects. Ekpo, who spoke during an interview on Arise Television, said borrowing remains a legitimate financing option for governments facing large budget deficits, noting that such gaps could be addressed through domestic and external loans. According to him, the major concern with Nigeria’s borrowing is not necessarily the decision to take loans but the lack of transparency and accountability in how borrowed funds are utilised. “There is nothing wrong in borrowing as long as you h...