By Dupe Idowu
Public Affairs Analyst, Mr Jide Ojo has advised federal government against using chunk of the nation’s revenue for debt servicing.
Speaking via a telephone interview on Pensioners’ Fm weekly Programme, ‘Trending’, Mr Ojo who said that the high cost of borrowing is not healthy for the country’s economy, stressed the need for a reduction in the cost of governance.
‘He said that any country that leans on borrowing cannot achieve a lot of things as it will weaken the country’s economy’.
Mr Ojo also expressed his discontent over President Bola Tinubu’s large cabinet with 45 ministers, saying it would have been lesser if the President applied constitutional provision.
‘He said that not all ministries are fund generating, so establishing ministries without necessary facilities would not produce anything’.
Mr Ojo called on the federal government to explore other avenues to increase revenue in the country to ameliorate Nigeria’s debt profile.
