Nothing wrong with taking more loans, says Presidency

There is nothing wrong in taking more loans to finance specific projects, the Presidency said on Sunday.Presidential spokesman Femi Adesina said Nigeria has more capacity to accommodate loans.

He said that there was no need for Nigerians to raise concern about the country’s rising debt profile because the President Muhammadu Buhari administration is applying loans to the specific projects they are meant for. “Taking loans to use for development is not a crime. But taking loans to steal and pocket as we used to have it in this count; ry is what is criminal. You will find out that even the profile of the loans, Nigerians don’t know it.“Even former president Olusegun Obasanjo gave a lecture where he quoted a figure about what Nigeria owes. The Debt Management Office had to come out to correct him. I think he quoted something in the region of $90b or $100b debt.

“So, those who are making noise about loans, particularly the outgone government, are only shedding crocodile’s tears because under them, they took loans and pocketed the money and we didn’t see what they did with the loans. But Nigeria is now taking loans and Nigerians can see what the government is doing with the loans.”

With strong economies reeling from the effects of COVID-19, Buhari’s media adviser explained that the Federal Government would carefully apply strategies that would effectively restore the fortunes of the country post-COVID-19.

So repayment of the loans is no issue? Imagine the narrow line of reasoning!

This govt is eating the tomorrow of the children unborn , cos they know they have few time to spen on earth, there bb making policy they will not partake in. God will pay you all. You have beaten the borrowing record in the history of this nation.

With the way femi adesina is going, there is no way he will not end up in hell 🔥 except he changes his way. He has become a serial 'killerk'.

Which loan? The country are in big debts which they incurred during this unforeseen pandemic. Na me and u go pay am na.

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‘How N479bn agric mechanisation loan will be utilised’ – Daily TrustThe Senior Special Assistant to President Muhammadu Buhari on Agriculture, Dr. Andrew Kwasari, has outlined how the $1.2 billion facility (about N479 billion) approved by the Federal Executive Council (FEC) last week will be utilised for agriculture mechanisation in order to achieve the purpose of the loan. The president’s aide in a chat with a … Hahahahahahahahahah ist not Nigeria, i will laugh again in China after 1y wen u hear that EFCC luch probe into alleged mismanagement of $1.2b agricultural facility fund. A step in d right direction!.
Source: Daily Trust - 🏆 13. / 51 Read more »