Some finance
experts have urged the Federal Government to source for funds
internally to reduce the nation’s rising external debt stock.
They told the News
Agency of Nigeria (NAN) in Lagos on Monday that persistent good debt
management strategies and prudential borrowing would bail the country
out of the debt burden in no distant time.
Mashudd Fashola, a
Senior Lecturer in Economics at the University of Lagos (UNILAG),
suggested that government should pay due attention to debt servicing
and if possible, liquidate all outstanding external debts.
He said that
although external borrowing had contributed positively to the growth of
the economy up to a point, external loans had begun to have diminishing
impact on the economy.
