Ari Aisen, the resident representative for the IMF’s Nigeria office, made this statement at a virtual discussion on Nigeria’s debt position. He also counseled the next administration to reduce its reliance on debt to pay for expenses significantly.
The International Monetary Fund has encouraged the incoming administration led by Sen. Bola Tinubu to broaden the nation’s source of income.
“How do you reduce the spending needs of the government? That should be the question. It is really about fiscal discipline. People should not permanently spend beyond what they generate in revenue because it becomes unsustainable. Eventually, some people will come and ask for their money back and some will refuse to give further loans,” he said.
