Borrowing: Economist urges FG to pause plan and publish project details

Nigerian economist Professor Akan Ekpo urged the Federal Government to pause its planned external borrowing and disclose the projects the loans will fund, along with the supporting feasibility studies. He said borrowing can promote growth when it finances viable capital projects, but called for greater transparency and close scrutiny by the National Assembly. Ekpo warned that foreign-currency loans and reliance on volatile oil revenues could burden future generations with repayment. He also urged Nigeria to strengthen manufacturing and its broader productive base to reduce dependence on borrowing and oil exports.