The Lazeera news captured that according to a report by Daily Post on Friday, May 15, 2026, an economist, Akpan Ekpo, has stated that Nigeria does not need to rely continuously on borrowing to finance its national obligations, noting that there are alternative methods of funding development projects and managing public resources.
Speaking further, he made the comments during a television interview where he discussed the country’s fiscal situation, debt profile, and available economic strategies that could be explored to reduce dependence on loans. He also explained that when a country’s revenue base is growing steadily, such income can be directed toward projects that improve living standards and support long-term development goals.
According to him, effective use of revenue allows governments to invest in key sectors such as infrastructure, education, healthcare, and transportation without excessive reliance on external or domestic borrowing.
Importantly, he emphasized that financial planning should prioritize sustainability and ensure that public funds are managed in ways that produce measurable benefits for citizens.
The economist also expressed concern about the current level of borrowing, suggesting that Nigeria’s debt pattern may not be fully aligned with sustainable fiscal practices.
He noted that borrowing can become problematic when it is not matched with productive investments that generate returns capable of servicing the debt.
He stressed that careful evaluation of borrowing decisions is necessary to avoid long-term economic strain.
He further stated that Nigeria has alternative financing options that can be explored beyond traditional borrowing methods.
Among the options mentioned were contractor financing arrangements and public-private partnerships, which allow private sector involvement in the development of infrastructure and public projects.
