Written by on January 8, 2021

Reactions are trailing a recent report that Nigeria’s debt to the world Bank and other foreign banks is now Thirty-One-point-Eight–Nine Billion Dollars.

A Public Affairs Analist, Sydney Esiuku advised the Federal Gogernment not to contemplate borrowing more monies from foreign banks in order not to mortgage the country’s future.

He told Radio Rivers Reporter, Edwin Keanagbo in an interview that the previous money borrowed by the APC-led Federal Government was not properly utilized for the benefit of majoriry of Nigerians.

Sydney expressed disappointment that the Federal Government after borrowing the money did not always channel it into tangible projects in all the 36 states of the federation while some were misappropriated or diverted into private pockets.

He urged the Federal Government to come up with other alternative methods of generating money to fund the budget and not borrow from the IMF or world Bank to the detriment of Nigerians.

Esiuku advised members of the National Assembly to reject any request for borrowing of funds by the Executive as such actions if not checked could further impoverish Nigerians..

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