The chief executive
of Ecobank Nigeria Plc, Jubril Aku, has advised the Federal Government
to be cautious over its huge expenditure.
Mr Aku, who was
speaking with Business Editors last week in Lagos, said that the issue
of fiscal dominance had become a problem in the country because of the
structure of Federal Government revenues.
He said this was so
because Nigeria depended largely on oil as source of revenue, unlike in
other countries where governments’ revenues were mostly from taxation,
adding that the huge volume of money injected into circulation from the
monthly federal allocations had been a cause of concern to the monetary
authorities.
