June 2, 2026
The African Development Bank (AfDB) has advised African countries, including Nigeria, to ensure that borrowed funds are invested in productive assets capable of generating economic growth and improving living standards.
Prof. Kevin Urama, AfDB’s Chief Economist/Vice President for Economic Governance & Knowledge Management, gave the advice in an interview with the News Agency of Nigeria (NAN) in Abuja on Tuesday.
Urama said this while discussing debt sustainability and financing challenges facing African economies.
He said the issue was not necessarily the volume of debt accumulated by countries but the quality of debt, its terms and how borrowed resources were utilised.
