World Bank Urges Nigerian Governors to Embrace PPP for Financial Sustainability
The World Bank is advising Nigerian state governors, through the State Fiscal Transparency, Accountability, and Sustainability (SFTAS) program, to embrace Public-Private Partnerships (PPP) to curb indiscriminate borrowing. Patience Oniha of Nigeria's Debt Management Office emphasizes the need for creative resource management and revenue generation to tackle the country's debt burden.
The call is to prioritize tax revenue generation over borrowing for infrastructure projects, promoting job creation and innovation. The lack of a reliable regulatory framework for state PPP arrangements poses challenges to effective implementation.
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