ICSAN to Address Nigeria’s Rising Debt Profile at Confab

Omolabake Fasogbon.

The Institute of Chartered Secretaries and Administration of Nigeria (ICSAN), has said that it would address Nigeria’s increasing debt profile, with a view to proffering realistic solutions at its upcoming 46th National Conference. 

Vice President of the ICSAN, Mrs Funmi Ekundayo disclosed this during a press conference announcing the conference in Lagos.

She revealed the theme of the conference as: “The National Debt Burden: Causes, Effects, and Realistic Economic Solutions”, adding that the discussion around the theme was apt given the trend in Nigeria’s debt history. 

According to Debt Management Office, DMO, Nigeria’s total public debt stock rose from N39.56 trillion in December 2021 to N41.60 trillion by the end of the second quarter of 2022.

Ekundayo said an escalating debt profile is dangerous to the economy. 

She said there are some gaps that needed to be addressed, hence the inspiration for the conference theme and several other sub themes.

She said, “Debt is an important aspect of the fiscal economy.  However, it must be used judiciously such as developing infrastructure; investment and capacity. This will help to support the economy in the long run and ensure that a debt is paid off without much ado and within specified time.”

She noted that a number of notable speakers had been lined up for the conference, coming up on September, 15 2022 in Lagos. 

Some of the confirmed speakers are the Director General, Budget Office of the Federation, Ben Akabueze and the Head of Service of the federation, Mrs. Folashade Yemi-Esan, with the Speaker of the House of Representatives, Femi Gbajabiamila as  the Special Guest of Honour.

Earlier, the Chairman of Publicity and Advocacy Committee, Mrs. Lynda Onefeli assured participants to expect a robust conversation on the theme, adding that “the topic is unique as it captures a subject matter that is of utmost concern to Nigerians.”