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Borrowing without due process (2)

The first part of this discourse reviewed some of the conditions to be met at all levels of government for a rule-based borrowing.

Borrowing Without Due Process (2) -By Eze Onyekpere – Opinion Nigeria

In the final analysis, it is important that all tiers of government return to evidence-based debt procurement, management and repayment based on the unambiguous provisions of the FRA. The fact that we are servicing debts with virtually all our actual revenue at the federal level shows that the rules were not followed in debt management. The FRA did not contemplate this as a sustainable debt position.

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