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Buhari needs to borrow $29.9billion to revive Nigeria’s economy – APC

Chief John Odigie-Oyegun, the National Chairman of the All Progressives Congress (APC), shortly after receiving a lifetime achievement award from the Warri Choral Society at the Muson Centre in Lagos, said that, President Muhammadu Buhari needs the proposed $29.9billion external loan to revive Nigeria’s economy.

According to him, Nigeria needs to borrow to invest in infrastructure, revive and grow the economy.

“If you read the newspapers, you hear the President being advised to pump money into the economy.

“So, the question is, where is the money coming from? Simple, it has to come from somewhere, including borrowing – both internal and external.

“To get this country going again, you have to pay contractors. Some contractors have not been paid for four, five, six, 10 years.

“So long as the borrowing is done, not to pay salaries, which the President Buhari administration will not do, but invested to create opportunities, solve our problems of power and things like that.”

The APC Chairman who described corrupt individuals as “immoral and lacking in ethics,” noted that corruption was the major problem in Nigeria and the war against corruption is a task that must be accomplished.

The Senate of the Federal Republic of Nigeria is not the only one who has rejected the external loan as the opposition Peoples Democratic Party, has however vehemently rejected the proposed loan request by the Federal Government.

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