The Chief Executive Officer, The CFG Advisory, Mr. Tilewa Adebajo, has expressed worry over the decline inForeign Direct Investment which has hit an all-time low of less than $1 billion.
While speaking on the topic, ‘Nigeria’s Fiscal Environment in an Era of Monetary Policy Tightening’ at the July 2024 edition of the Finance Correspondents Association of Nigeria bi-monthly forum in Lagos, Adebajo stated: “Although N8.7 trillion was earmarked for capital expenditure in the 2024 budget, infrastructure development will receive just N1.32 trillion of this.”
Nigeria’s public debt stock rose from N97.34 trillion in December 2023 to N121.67 trillion in March 2024, according to the Debt Management Office . “The discussion on restructuring both domestic and external debt must commence alongside the ongoing economic reforms and revenue drive to avoid Paris and London Club imposition,” he warned.
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