Former Deputy Governor of the Central Bank, Kingsley Moghalu, says the outgoing Buhari administration should not incur debt for the incoming administration.
Speaking on Channels TV yesterday, Mr Moghalu said he believes Nigeria is borrowing too much and generating too little in revenue to pay back the loans.
He also stated that Nigeria is borrowing for a lot of wrong reasons.
READ ALSO: FG To Generate N369bn From Abuja, Kano Airport Concession
Mr Moghalu says borrowing money to pay palliatives is not a sustainable approach to the matter of fuel subsidy removal.
The former CBN Deputy Governor says it is more appropriate for the new administration to make its own decision on the fuel subsidy removal.
The incoming government will inherit a N77 trillion debt.
Leave feedback about this