Nigerias Fuel Subsidy Removal Gains: Why Government Should Stop Borrowing Immediately

Nigeria's government should stop borrowing now that it has gained from fuel subsidy removal, according to former Central Bank of Nigeria Director Prof. Akpan Ekpo. The country can use the saved funds instead of taking on more debt.

Former Central Bank of Nigeria Director Prof. Akpan Ekpo has emphasized the need for the government to stop borrowing following gains from fuel subsidy removal. Ekpo's comments come as a response to the controversy surrounding the removal of fuel subsidies, which is expected to generate significant revenue for the government. According to Ekpo, this revenue could be used to offset debt obligations, making it unnecessary for the government to continue borrowing. By prioritizing debt repayment over new loans, the government can stabilize its finances and make more informed fiscal decisions.