An economist, Prof Akpan Ekpo, has said that Nigeria does not have to keep borrowing, noting that it is not the country’s only option.
Prof Ekpo said this on Friday in an interview on Arise Television, monitored by DAILY POST.
He said if Nigeria’s revenue is growing, the country can channel it into ventures that enhance the lives of every citizen.
According to him, if the nation’s debts were sustainable, it would not need to borrow the way it is, stressing that Nigeria’s current borrowing is somewhat out of place.
“Definitely, borrowing is not our only option. In fact, we don’t have to borrow. There 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.
