SENATOR ALO NDUME EXPRESSES WORRY OVER THE RATE AT WHICH PRESIDENT BUHARI’S GOVERNMENT IS INCREASING THE NATION’S DEBT BURDEN.
Written by miebaka ikiriko on September 17, 2021
The Senator representing Borno South Senator Alo Ndume on Thursday expressed worry over the rate at which President Buhari’s Government is increasing the nation’s debt burden, particularly when there is little or nothing to show for the loans.
Senator Ndume also faulted the Senate for rushing to approve these loan requests, noting that some loan requests hurriedly approved by the Senate have not been released to date.
The Lawmaker made the remark during a press briefing at the national Assembly in the wake of the latest loan request sent by President Buhari to the Senate for consideration and approval.
It would be recalled that during Tuesday’s plenary president Buhari sent a letter to the Senate seeking approval to borrow another four billion Dollars from bilateral and multi-lateral organizations to dun the deficit in the 2021 budget.
Senator Ndume pointed out that it is one thing to borrow funds and it is another thing to properly invest and manage the funds.