Borrowing: Buhari administration will put Nigeria in a difficult situation, says CDHR

Posted by Olusegun Abisoye | 22 October 2019 | 1,521 times

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•CDHR Chairman, Comrade (Prince) Taiga

Chairman of Committee for the Defence of Human Rights (CDHR), Comrade Prince Kehinde Taiga, has lamented that the present administration could put Nigeria in a difficult situation with continuous borrowing.

This may not be unconnected with the plan of the Federal Government of Nigeria to receive $3 billion loan from the World Bank.

Speaking with DAILY INDEPENDENT on Monday, in Asaba, Taiga bemoaned the recurrent attitude of borrowing to finance the economic activities of the country.

He noted that such an unpleasant attitude would put Nigeria in a tight corner by the end of the current administration, saying that it would not help development; instead, administration after him would continue to pay the debt.

According to Taiga, “By the time this administration is done, Nigeria could be in a tight corner with continuous borrowing.”

He said Nigeria has a good financial status contrary to claims by the government, stating that, I do not support borrowing because most of our politicians can dish out such money with ease.

“It is the same thing that has been happening in the past. The President has once blamed the excessive borrowing of past regimes,” he disclosed.

However, he charged the Federal Government to invest the money in the power sector, as its critical attention.

“We have always borrowed money without getting value of such monies, I hope the money would be used to solve the problem of the power sector,” he said. (Independent)


Source: News Express

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