FG MUST STOP BORROWING, DEBT RUINS A COUNTRY- ECONOMIST AYO TERIBA

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BY PRINCELY ONYENWE, IMO

A Nigerian economist and CEO of Economic Associates (EA), Dr AYO TERIBA has opened up the secret of Nigeria to overcome its economic crisis at an interview session with the press over the weekend.

Speaking with the press, Dr AYO noted with dismay, the failure of the Government to address economic issues which according to him has kept bedevilling the growth of the country in the international space.

AYO TERIBA - ECONOMIC ANALYST
AYO TERIBA – ECONOMIC ANALYST

The expert stated that there is too much talk about what the heat is, inflation and economic growth which are all superficial issues based on the understanding of facts that economics is less about the ends a country want to achieve but the means with which the country want to achieve them.

He said the means the Government should deploy to achieve a desirable end is missing in action while stating that the most viable option for NIGERIA to overcome its economic crisis is for the government to be transparent and accountable as it is the only way to attract the needed foreign investment.

However, this may sound very easy but TERIBA hinted that NIGERIA’s income statement is drying up while oil which used to be the major supplier of revenue in our income statement has a very bleak future warning the Government to see more assets that can bring more revenue to cushion the challenges ahead.

Breakdown of Nigeria's new borrowing plan according to Punch
Breakdown of Nigeria’s new borrowing plan according to Punch

He added that the NIGERIAN Government must begin to attract equity and transparency to attract the market in the land which is blessed already by God the creator.

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In his words,” You cannot compare the level of disclosures that the market requires to the opacity that you have when the enterprise is Government-owned” “There is no better way to achieve transparency and accountability than to approach the market. Government is the challenge we have” he frowned.

He had earlier assured that FG MUST PLACE VALUE ON IDLE ASSETS TO GENERATE REVENUE AND STOP BORROWING to Improve the country’s economy.

9News Nigeria (Owerri)
For inquiries on this news contact 9News Nigeria Imo State @08036856526

About Princely Onyenwe 702 Articles
Princely Onyenwe A seasoned Investigative Journalist, Civil Rights Activist, and Political Analyst, Currently Editor and News reporter with 9News Nigeria www.9newsng.com www.facebook.com/9newsng

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