A former Senior Economist with the International Monetary Fund , Prof. Olumuyiwa Adedeji; the Chief Executive Officer of Economic Associates, Dr. Ayo Teriba; the Dean, Faculty of Economic and Management Science, University of Ibadan , Prof. Olanrewaju Olaniyan; Head of Economics Department of UI, Prof. Adeola Adenikinju and others, have urged the Federal Government to open its doors to foreign direct investments to reduce the nation’s debt and increase revenue.
Teriba, who is the Interim Chairman of the UI Eco Alumni Council, pointed out that debt financing could lead to doom, but equity financing could lead to El Dorado. “And if the environment is very conducive, it will lead to having a more stable income for the country. FDI is not very volatile unlike foreign portfolio investments or exports.
Olaniyan, who spoke on “Fiscal and Structural Reforms to boost Nigeria’s Economic Prosperity Beyond Macroeconomics’’, said when the budget is prepared, it has to be in sync with the population structure.
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