Tuesday, 27 September 2016

Obasanjo Recommends External Borrowing , Backs Sale Of National Assets as Recession Bites

Obasanjo Tuesday said Nigeria must urgently embrace external borrowing in order to reflate its economy and bring the country out of the current recession.
Obasanjo, who proffered the solution to the economic challenges being faced by the country, also backed the sale of national assets but cautioned the President Muhammadu Buhari-led administration against playing into the hands of cabals.
He spoke at the opening of a two-day conference in Abeokuta organised by the National Council on Finance and Economic Development (NACOFED) with the theme: “Enhancing revenue generation and obtaining best value for money in expenditure.”
In attendance at the event were Governors Ibikunle Amosun (Ogun) and Ibrahim Dankwabo (Gombe); Minister of Mines and Steel Development, Dr Kayode Fayemi, Minister of Finance, Mrs Kemi Adeosun, Comptroller-General of Nigeria Customs Service, Col Hameed Ali (rtd), Chairman, Federal Inland Revenue Service (FIRS), Dr Babatunde Fowler, and public finance managers across the country.