Expert cautions Tinubu against debt trap, seeks asset-backed infrastructure funding

A Fellow of the Institute of Credit Administration, Asiwaju Busari Shaamsuddeen Akande, has advised President Bola Tinubu against excessive reliance connected borrowing to concern infrastructure projects.

He urged the Federal Government to follow asset-backed financing and public-private partnerships.

Akande said Nigeria's ambition of gathering a $1 trillion system by 2030 could beryllium undermined if the authorities continued accumulating debts without ensuring that infrastructure investments generated capable economical returns.

His informing comes amid Tinubu's renewed moves to unafraid further outer loans to concern authorities projects.

In an appraisal of the country's economical direction, the adept said the authorities indispensable look beyond the measurement of infrastructure being constructed and find however rapidly specified investments could construe into concern output, accrued concern activities and authorities revenue.

He noted that borrowing heavy for projects with agelong gestation periods could make a mismatch betwixt contiguous debt-servicing obligations and the clip required for the investments to make returns.

Akande argued that "Nigeria should trim it...