Amid Nigeria's rising debt profile, an economic group, the Center for Fiscal Transparency and Integrity Watch has asked President Muhammadu Buhari to
Amid Nigeria’s rising debt profile, an economic group, the Center for Fiscal Transparency and Integrity Watch has asked President Muhammadu Buhari to suspend the proposed World Bank loan of $800 million for post-fuel subsidies removal.
It said amid government’s promises of revamping refineries to boost local production, the inability to address lingering oil theft, diversifying the economy and the recent controversial monetary policy has left the country on edge. He explained that the current pressure on the fiscal side of the economy is due to inefficient public spending, mismanagement of public resources and the lack of accountability which continue to affect investors’ confidence and impact private sector growth.
”As a Center, we cannot overemphasize the need for fiscal prudence in government’s day-to-day activities. We suggest the entrenchment of transparency and accountability measures to curb public sector corruption and resource wastage.
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