September 28, 2021
Markets

READING THE LIPS OF SECURITIES DEALERS

Sola Oni contends that a positive pronouncement from the government can change the face of the financial market for good

The Minister of Works and Housing, Mr. Babatunde Fashola and two-term Lagos State Governor has goofed. On the sideline of his recent inspection of the two bridges built by the federal government in Cross River State, the lawyer who suddenly became an engineer during the first term of the present administration has also become a public finance ‘expert’ by his verbal assault on the government’s critics on incessant borrowing. Fashola lampooned the critics that ‘It is home economics they know; they don’t know public finance’. He emphasized that government borrowed to execute specific projects. Nigeria’s total debt has reached an all-time high of N33.107 trillion and is tending to a red flag as ratio to Gross Domestic Product…

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