Third, we need institutions that enlarge the domain of the private sector and promote competitiveness. Nigeria urgently needs a restructuring and strengthening of the Judiciary to ensure prompt and effective administration of justice and enforcement of the rule of law. The list is long, but I will briefly elaborate on a few below.
It is important to avail ourselves of the good years we are currently enjoying to persist in reducing it. Reducing the share of debt in GDP would make the economy more resilient to shocks, release resources for other important needs, and enable the government to operate a counter-cyclical policy when necessary.