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FG to reduce Nigeria’s reliance on debt

The federal government has expressed its plan to bring investment to different sectors of the economy so as to reduce Nigeria’s reliance on debt. The…

The federal government has expressed its plan to bring investment to different sectors of the economy so as to reduce Nigeria’s reliance on debt.

The Executive Secretary, Nigeria Investment Promotion Commission (NIPC), Saratu Umar, stated this yesterday while speaking to State House reporters after a closed door meeting with President Muhammadu Buhari at the Presidential Villa, Abuja.

The NIPC boss said the commission believed that once it was able to bring investment to different sectors of the economy, the burden of debt would decline.

According to her, “Some of the reliance we have had on debt will be reduced because investments will now be able to play in certain sectors that would minimize the rate.”

She said the president who supported the drive to strengthen the investment of Nigeria, also expressed his willingness to do the best he can to ensure the country’s investment drive was given a lot of traction.