TO address Nigeria’s rising debt profile, the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) has called for prudent management of resources.

President/Chairman of Council of ICSAN, Teslim Busari, made the call during the 39th yearly general meeting of the Institute held at the Council Secretariat, Alausa, Ikeja Lagos at the weekend.

Busari, who frowned at the Nigeria’s rising debt profile, said since there is nothing bad in securing foreign loans, the Federal Government must ensure that such loans are directed at providing developmental projects to the people.

He said: “There is nothing bad in securing foreign loans but we must ensure that the loans are directed at projects that will provide developmental projects to the people. The loans being secured must be directed at projects that will be monitored and not to finance frivolous projects.

“In order to guide against our rising debt profile, prudent management and accountability of resources must be our watchword in this country and the loans must be for development purposes such that the money  will be expended  in such a way that it will generate funds to repay the loans.

“When the Government properly focus the loans secured and direct them to productive area, definitely, our debt profile will reduce,” the ICSAN boss stated.

Busari urged members of the Institute to double their commitments to ICSAN to enable it continue to pursue issues that are vital towards making the profession attractive and a force to reckon with in the country.

On the issue of emergency rule, the Institute described the declaration of emergency rule in Borno, Yobe and Admawa States by President Goodluck Jonathan as a good step in the right direction.