* Raise concerns over widening fiscal deficits, low capital expenditure implementation

Ndubuisi Francis in Abuja

The Capital Market Academics of Nigeria (CMAN) has called for urgent policy intervention to reverse the declining credit to the nation’s private sector, arguing that sustainable economic growth ultimately depends on productive private sector investment and not solely on financial sector expansion.

The Nigeria’s foremost financial markets think tank, with an assemblage of researchers, lecturers, economists and professionals from universities, research institutes, regulatory agencies and private

sector organisations, also raised concerns over widening fiscal deficits, and low implementation of capital expenditure.