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Why Buhari Needs To Borrow $30bn – Odigie-Oyegun





The National Chairman of the All Progressives Congress Chief John Odigie-Oyegun has justified why the Buhari-led administration must borrow to revive Nigeria’s ailing economy.

Buhari’s plan to borrow an estimated US$29.9bn from foreign lenders has been rejected by the Senate and leading Nigerian economists.

Odigie-Oyegun however said Nigeria needed to borrow in order to invest in infrastructure and grow the economy.

 The party chairman was quoted to have said this after receiving a lifetime achievement award from the Warri Choral Society at the Muson Center in Lagos.
This was contained in a statement from his office, in Abuja, on Monday

Odigie-Oyegun said, “If you read the newspapers, you hear the President being advised to pump money into the economy.

“So, the question is, where is the money coming from? Simple, it has to come from somewhere including borrowing – both internal and external.

“To get this country going again, you have to pay contractors. Some contractors have not been paid for 4, 5, 6, 10 years.

“So long as the borrowing is done not to pay salaries which the President Buhari administration will not do, but invested to create opportunities, solve our problems of power and things like that.”

On the anti-graft war, Odigie-Oyegun described the war as a task that must be accomplished because corruption is at the core of the nation’s problems.

He described corrupt people as “immoral and lacking in ethics” according to him, Nigeria must rid itself of corruption and its attendant consequences in order to make progress.

Edo state governor, Mr. Godwin Obaseki in his remarks at the event said, “Tonight we celebrate our National Chairman who we are very proud of, a man who has by the divine intervention of God changed the face of politics in our country.”

Olawale Adeniyi Journalist | Content Writer | Proofreader and Editor.