Nigeria, Nov. 13 -- Nigeria must ensure that borrowed funds are used for infrastructure rather than consumption to achieve sustainable economic growth, Paul Alaje, an economic expert, said on Wednesday

Mr Alaje spoke at the Business, Economy and Financial Reporting training organised by PREMIUM TIMES Academy in partnership with the Central Bank of Nigeria.

Mr Alaje, a senior economist at SPM professionals, highlighted that over the past 10 to 15 years, Nigeria's borrowing has grown at an average of 20 per cent annually, yet GDP growth remained below 3 per cent, showing that borrowed funds have not significantly stimulated the economy.

"We must ensure that borrowing goes into capital expenditure projects that enhance production, such as...