Finance Minister and Coordinating Minister of the Economy, Prof Taiwo Oyedele, has defended the Federal Government’s borrowing policy, saying borrowing should not be treated as immoral.
Vanguard and Punch reported that Oyedele spoke at a Capital Market Academics of Nigeria conference, where he described debt as a financial tool that depends on how it is used.
He said public borrowing could support growth when tied to productive investment, while poor use of debt would create problems for the economy.
The minister also raised concerns about investment barriers, including contract enforcement delays and foreign exchange uncertainty.
Both reports said Oyedele proposed a dedicated commercial dispute resolution tribunal to improve investor confidence and speed up business-related cases.
Punch reported that he said some commercial disputes in Nigeria can take about 15 years to move through the High Court, Court of Appeal and Supreme Court.
Sources: Vanguard; Punch
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