The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Economic experts have proffered various means of funding N5.23 trillion 2021 budget deficit other than the ways and means that the International Monetary Fund, IMF, has cautioned the Central Bank of Nigeria, CBN, from adopting.

In their comments today during a webinar organised by the Chartered Institute of Stockbrokers, CIS, titled ‘Economic Review for 2020 and outlook for 2021’ the experts which include: Uche Uwaleke, a professor of Capital Market at Nasarawa State University; Dr Biodun Adedipe, a former staff of the IMF; Mrs Kemi Akinde, Economic analysts; Professor Rufus Olowe, Head of Finance Department, University of Lagos; among others emphasized the need for government to access the capital market to fund the budget deficit and as well privatise government assets that can be a turnaround by the private sector involvement.

Professor Uwaleke said: “government can finance the infrastructure component of the budget by Issuing infrastructure/revenue bonds/project-tied bonds to ensure that the proceeds are ring-fenced as opposed to the use of general obligations bonds;


“Securitizing receivables in infrastructure through a Special Purpose Vehicle, SPV, that eventually raises funds from the capital market via securities issued to investors and partial privatisation/sale of selected government enterprises/assets such as the NNPC through the Stock Exchange”

Dr Adedipe said: ”Government needs to scale up manufacturing in order to generate income to fund the budget.

“Four critical sectors need to prioritise such as Information Communication Technology, Agriculture processing, Manufacturing and Exports.

“There is no way we can expand without exporting. There should less emphasis on oil as we boost our non-oil sector.”

Professor Olowe said: ”Government should encourage the youths to embrace agriculture since it generates more employment.

“Manufacturing is also key if we must get a double-digit growth and government can as well fund the budget through the capital market.”

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