Benjamin Kalu, the Deputy Speaker of the House of Representatives has expressed concern about Nigeria’s reliance on debt.

Speaking at a stakeholders’ dialogue on the implementation of Section 45 of the Fiscal Responsibility Act, on Saturday in Lagos, Kalu said Nigeria needs to be self-sufficient and independent instead of relying on loans.

Kalu, represented by Mr Nalaraba Abubakar, Chairman, House Committee on Loans and Debt Management, said past governments sustained budgets through loans but an approach he considered not sustainable, NAN reports.

He also said that the compliance of the provisions of Section 45 of the FRA remains crucial to the banks and other financial institutions before lending to any government of the federation.