What Do You Want The Govt To Do If They Don’t Borrow To Run The Economy? – Ibrahim Backs FG

Senator Jimoh Ibrahim has said that the Federal Government must borrow money to run the country’s economy effectively.

The Senator representing Ondo South in the Senate wondered how people expect the government to run the economy without funds.

He stated this during an appearance on Channels Television’s Politics Today on Monday.

The Senator was responding to a question on his earlier support for more borrowings by the government.

According to him, “If you don’t borrow to run the economy, what do you want to do? Where do you want to get the fund to run the economy? Dubai, with the population of 12 million people in total, is owing 168 billion dollars and look at what they have used the money to do? They are paying back now at 10 billion dollars a month.

“Now, Nigeria, with the population of 250 million people, is owing 77 million dollars, now you have challenges here and there. So, the key issue here has to do with the fact that you must borrow to run the economy.”

The lawmaker said that borrowing will help the Federal Government to build critical infrastructure which will enable it repay the loan in the long run.