The former vice presidential Aspirant under Peoples Democratic Party ( PDP ), in 2019 presidential election, Mr Peter Obi ,has said, ” borrowing for consumption are the major contributors to the monumental economic challenges confronting Nigeria today”.
Mr Peter Obi, made this observation on Thursday evening being 17th February, 2022 on his official Facebook account.
He further made clarification that there is nothing wrong with borrowing but according to him, ” what we need to do is to put law in place that if we must borrow, it must strictly be for investment in areas of growth.
He explained that, ” if the funds borrowed were invested in critical areas of development, #Education, #Health and #PovertyAlleviation, Nigeria would have developed far beyond what it is today”.
He noted with dismay that, ” many countries have built robust Economies with borrowed funds”, adding that “we can do the same if only we enthrone visionary and committed leadership”.
Recall that BORROWING for paying of salaries and luxurious life have become almost a culture in Nigeria lately and it is against ugly development that Mr Peter Obi, as one of the stakeholders is talking.
