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Atiku Blasts Buhari Over Nigeria’s Rising Debt Profile

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Atiku

Atiku Tackles Buhari Over Borrowings

Former Vice President of Nigeria, Atiku Abubakar, has warned President Muhammadu Buhari against accumulating more debts for Nigeria.

Speaking on the continued borrowing, Atiku said Nigeria under the administration of Buhari has taken more loans in the last three years than it did in the 30-year period preceding 2016.

He lamented that despite the increase in borrowings, there has been an unprecedented reduction in investments in education.

Atiku made the submission while speaking at a ceremony hosted by the American University of Nigeria on Saturday in Yola, the capital of Adamawa State.

“Two weeks ago, a friend of mine, Prof. Anya O. Anya, revealed that Nigeria has taken more loans in the last three years than she has taken in the 30-year period preceding 2016.

“I am a businessman. Perhaps the first lesson one learns in business is that you do not take loans except it is to expand your business. There is no justification for taking out loans to pay salaries; meanwhile, you are not investing in your future generation.

“Nigeria’s greatness is not as tied to her elders as it is tied to her youth. That is where our investments should be focussed on,” Atiku stated.

As previously reported by Naija News, President Buhari had on Thursday written to the National Assembly seeking legislative approval for the 2016-2018 External Borrowing Plan of the Federal Government.

The borrowing plan was initially rejected by the 8th National Assembly under the leadership of Dr. Bukola Saraki which therefore informed the President’s decision to re-introduce the request in the 9th National Assembly.