Borrowing Is Not Nigeria’s Only Option, Economist Says

Professor Akpan Ekpo, an economist, has argued that Nigeria need not rely solely on borrowing, stating that it is not the only available option.

He made the comments on Friday during an interview on Arise Television, which was monitored by DAILY POST.

Professor Ekpo said that if Nigeria’s revenue were increasing, the country could invest that income in projects that improve the lives of all citizens.

He added that if the nation’s debt were sustainable, it would not require the current level of borrowing, describing the present borrowing pattern as “somewhat out of place.”

“Definitely, borrowing is not our only option. In fact, we don’t have to borrow. There are other options. For example, you mentioned the public‑private partnership. And then the issue I raised was that, even if you have to borrow, have you done enough study to justify that borrowing?”

“The way we are borrowing is not the way we should go. There are other options. You have contractor finance, public partnership so on and so forth.”

“When you keep borrowing, who will pay? Out generations yet unborn. They won’t be happy with us when we have accumulation of debts waiting for them to pay,” he said.