Whether FG likes it or not, it has to cut costs to service growing debts- Bode Ugusto

Whether FG likes it or not, it has to cut costs to service growing debts- Bode Ugusto

Bode Agusto, a renowned accountant and financial expert, has advised the federal government to reduce costs by selling some of its assets to get enough fund to provide more infrastructural facilities and repay its growing debts.

Ugusto said this while giving a speech during Vanguard Economic Discourse.

He said: “The federal government likes it or not, they have to cut cost. We must sell some oil and gas assets to links states by road or rail to Abuja. We need to invest in the national grid.”

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Agusto, who was recently appointed the head of Lagos state government Economic Advisory Committee set up to spearhead the state’s drive to improve the business environment and advance the economy, said the federal government should maintain a very strong financial base.

He added that the federal government must reduce costs so as fix its debts.

“The Abuja club. They do not forgive debts. How do we fix debts and financiers of FG? Reduce costs,” he said.

Legit.ng previously reported that the analysts at FSDH Research urged the federal government to tackle infrastructure problems and security challenges in Nigeria to sustain the current economic growth.

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In its monthly economic and financial market outlook report for April 2018, the analysts said that the prospect of Nigeria’s economic growth improved following an expansion in the Purchasing Managers’ Index (PMI) in March 2018 after recording two consecutive months of slowdown.

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Source: Legit.ng

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