Buhari

DO NOT BLAME PRESIDENT BUHARI FOR REQUESTING TO BORROW MONEY, RATHER BLAME THE NATIONAL ASSEMBLY MEMBERS FOR APPROVING IT WITHOUT PROPER INVESTIGATION.

Nigeria’s debt, as it stands now, may not be repaid in a lifetime. The incoming government may also borrow, thereby adding to the existing debt. There is nothing wrong with borrowing money to finance viable projects that would bring growth to the economy of a country. When such projects are completed and profit starts coming in, then part of the gains can be used to offset the debt. In Nigeria, such simple wisdom is not applied. The government of Nigeria borrows at any given time without calculating properly the effect and how it would play out in the economic development of the country, hence the economy is standstill. Another terrible aspect is the attitude of the members of the National Assembly of Nigeria, that do not ask questions or carry out proper investigations of such loan requests before approving them. Such a system of loan taking is hurting the economy of Nigeria. If one looks around the country, one will not see much where such huge sums of money taken as loans were invested. After a short period, the government of Nigeria will go back to the National Assembly to ask for more loan approval, which is not a healthy way of running an economy. The Viewers Corner News team is therefore appealing that caution be applied concerning loan taking in the country.

Source: Viewers Corner News.

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