Nigeria Cannot Develop On Loans – Oyedele
Taiwo Oyedele has warned that Nigeria cannot depend on borrowing alone to achieve development.
The chairman of the Presidential Committee on Fiscal Policy and Tax Reforms said the country must focus on growing revenue, supporting businesses and fixing economic structures.
Speaking on the state of the economy, Oyedele said constant borrowing would continue to put pressure on public finances.
He noted that stronger institutions, investments and better management of resources are needed to drive real economic growth.
He also called for wider tax reforms and policies that would encourage production and attract investors.
According to him, economic progress can only come when government spending is properly managed and businesses are allowed to grow.
The economist added that long-term stability depends on building a productive economy rather than relying heavily on debt.
He maintained that Nigeria must pursue reforms that create jobs, improve confidence and strengthen national income.
