13.9 C
London
Sunday, September 25, 2022

FG Can Borrow Till Eternity – Loans Are The Source Of Our Infrastructure

Abdullahi Adamu

The All Progressives Congress (APC) national chairman Abdullahi Adamu asserts that the federal government “may borrow from here until eternity.”

On Monday, Adamu noted that nations like the US and the UK borrow money from international financial organizations to suit their demands. He was speaking on a program on Trust Television.

The fact that President Muhammadu Buhari’s administration borrowed money to carry out projects all around the nation has drawn criticism.

“I remember a programme we had here, I told you and I thought you believed me that I have no quarrel, issues with government borrowing. Government can borrow from here to eternity. The American government borrows, the Canadian government borrows, the United Kingdom borrows, France borrows money from the World Bank and such other institutions,” he said.

Also Read: FG Can Fund Education Without Borrowing – ASUU

“Nigeria is no exception, what I quarrel with is if the money is not used for a purpose and the infrastructure we are developing across the country is from this source.

“You also have to appreciate the fact of the level of revenue accruing to the government, oil is the main thing… We want to see how best we can diversify. These issues affecting the revenue accruing to the government are not our making no matter how good we are, they happen.

“When some countries sneeze we catch a cold. The Ukrainian crisis with Russia is having an impact on our economy and even in bigger economies than our own so why do we limit ourselves in our thinking.”

Latest news
Related news