Tinubu Inherits Nigeria's High Debt - an Economist Analyses What This Means for the Country's Future TC_Africa: Nigeria
To complete the process, please follow the instructions in the email we just sent you.The question will not be whether to borrow, but how much.A long-term solution to Nigeria's debt problem is to explore new sources of revenue. To change the
about how risky Nigeria is, the Tinubu administration should introduce policies that improve Nigeria's economic fundamentals.A country's debt stock does not matter as much as the quality of its economic policies. Economic policies could result in budget surpluses that can be used to repay debt. A starting point is to invest in physical capital and infrastructure ; provide access to capital for micro, small and medium-sized enterprises; and support agricultural development.
There is also an urgent need to diversify the economy, make it less reliant on oil and broaden the country's very narrow revenue base. One strategy is to resuscitate the moribund factories in Nigeria and promote agro-processing industries, so that the economy would generate more revenue from non-oil sources to finance government spending and projects.
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