Frank Aigbogun, the publisher and CEO of BusinessDay has called on the federal government to sell off its dead assets in a bid to cut down Nigeria’s spiralling debt stock.
Aigbogun made this known in his opening remark at the BusinessDay’s 17th CEO Forum themed Nigeria: From reform to recovery held on Thursday in Lagos.
“We want to see quick movement on the fiscal side, especially on the long-awaited asset sale. This will avoid piling debt for generations unborn. I don’t see how it’s more attractive to take on more debts than to sell some of the assets we see around Nigeria,” BusinessDay’s chief said.
Africa’s most populous nation is currently grappling with a record debt profile that reached nearly N150 trillion in the first quarter of 2025 with projections of hitting over N187 trillion by year end.
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But the sale of its idle assets estimated at over N180 trillion could free up needed cash to undertake more sustainable developmental projects that could improve productivity and make life better for its citizens whom more than 60 percent are extremely poor.
Aigbogun also lauded the reforms embarked on by the government some 18 months ago, stressing that they have seen the country “turn the corner”.
“The gloom that gathered over the country is beginning to clear and we are seeing rekindled investor appetite for Nigeria,” he said, adding that volatility that frustrates businesses is gradually phasing off while the rate of price increases is slowing.
