‘It’s Completely Irresponsible,’ Adamu Says the Federal Government can borrow indefinitely.

Ibekimi Oriamaja Reports

Debo Ologunagba, spokesman for the Peoples Democratic Party (PDP), has slammed All Progressives Congress (APC) National Chairman Abdullahi Adamu for saying the Federal Government can borrow indefinitely.
During an interview on Trust Television on Monday, Adamu, according to Track News, justified the Buhari-led administration’s ongoing borrowing needs.

He claimed that the federal government can borrow indefinitely because loans fund the country’s infrastructure.

Countries such as the United States and the United Kingdom, according to Adamu, borrow funds from international financial institutions to meet their needs, and Nigeria is no exception.

APC Borrowing for Consumption
The PDP spokesman slammed Adamu’s stance, claiming that it was completely irresponsible and that the APC is borrowing to steal, whereas the PDP borrowed and invested.

Ologunagba insisted that borrowing is a necessary part of life, but APC had misappropriated foreign lender loans.

The ruling party, according to Ologunagba, is the most corrupt government in Nigerian history and should be ashamed for putting the country in debt.

He went on to say that the APC owed Nigerians an apology for lying and defrauding them.

“Nigerians knew when they were debt-free, when the country paid off its debts, and they knew who was borrowing,” he explained. Borrowing responsibly and investing in people is a good thing, but borrowing for personal use is not. They steal and borrow, whereas the PDP borrows and invests.

“The PDP was in charge of airport renovations.” We opened up the economy; the privatization scheme opened up the economy; and Nigeria was nearly the top investment destination. As a result, it is irresponsible, and we expect nothing less from the APC government than impunity and irresponsibility.

“The APC chairman’s claim that they can borrow forever is completely irresponsible. Why would the party’s chairman say that unless they have total contempt for us, our knowledge, and our ability? Borrowing is an essential part of everyday life, but it must be done responsibly.

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“They (APC) borrow to consume, to fund frivolous foreign trips and irresponsible junketing all over the world.” Borrowing is used to fund development, specifically infrastructure. This is the country’s most corrupt government in its history.

“Everyone in the APC should be ashamed; they should apologize to Nigerians for deceiving and lying to us.” The good news is that there is still hope. Nigerians can make comparisons because they know which government borrowed responsibly and invested in human capital development, infrastructure development, and education, all of which are necessary for a country’s growth. The ASUU strike has now been going on for six months, and the government has done nothing to address it.”

Ibekimi Oriamaja Reports