Dr Samuel Nzekwe, the former President of Association of National Accountants of Nigeria (ANAN), has advised the incoming administration to make concerted efforts to reduce recurrent expenditures to boost infrastructure development.
Nzekwe gave the advice while speaking with the News Agency of Nigeria (NAN) on Sunday in Ota, Ogun.
He noted that the advice had become necessary for the incoming government in order to bridge the infrastructural gaps in the country.
“The Federal Government should look at how to reduce its recurrent expenditures and increase the capital expenditures so that more critical infrastructure could be provided for the people.
“In addition, they need to cut their expenditures and tackle linkages through corruption, if the country desired to achieve sustainable economic growth,” he said.
The former ANAN president noted that the nation has the potential to attract foreign investors into the country if the incoming government could focus on how to build critical infrastructure through private-public partnership.
This, he said, would also reduce pressure on foreign reserve and bring down the debt profile of the country.
Nzekwe added that new investors coming into country would provide more employment opportunities, boost Gross Domestic Product (GDP) and also reduce the crime rate.
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