Emma Ujah, Abuja Bureau ChiefThe Economic and Fiscal Justice Coalition (EFJC) has tasked the Federal Government to adopt a “Borrow Better” framework by ensuring it borrows only for productive assets and not for recurrent consumption.
This was contained in a position paper presented to the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, in Abuja on Wednesday, a copy of which was sent to Vanguard today.
The coalition, in the position paper presented by the Executive Director, Mr. Eze Onyekpere, Esq., urged the government to “borrow only for productive investments, having done proper and published cost-benefit analyses for all major loans; with popular participation that guarantees transparency in all facets of debt management, in accordance with the Fiscal Responsibility Act.
“Prioritise concessional financing and establish measurable development outcomes for every borrowed naira.”
The coalition acknowledged that public borrowing was not inherently problematic, noting that “every modern economy borrows.”
