Former Vice President of Nigeria,
Atiku Abubakar, has attacked President Muhammadu Buhari’s administration over
the increase in borrowing.
Atiku said Nigeria under the
administration of Buhari, has taken more loans in the last three years than it
did in the 30-year period preceding 2016.
He described the monumental increase
in borrowings vis-à-vis an unprecedented reduction in investments in education
as worrisome.
Recall that Buhari on
Thursday sought the re-consideration and approval of the National Assembly on
the 2016-2018 External Borrowing Plan of the Federal Government.
The former Vice President said
this while speaking at a ceremony hosted by the American University of Nigeria
on Saturday in Yola, the capital of Adamawa.
“Two weeks ago, a friend of mine,
Prof. Anya O. Anya, revealed that Nigeria has taken more loans in the last
three years than she has taken in the 30-year period preceding 2016.
“I am a businessman. Perhaps the
first lesson one learns in business is that you do not take loans except it is
to expand your business. There is no justification for taking out loans to pay
salaries; meanwhile, you are not investing in your future generation.
“Nigeria’s greatness is not as
tied to her elders as it is tied to her youth. That is where our investments
should be focussed on,” Atiku added.
If Atiku had utilized Nigeria resources very and not sold our assets, there might be no room for any government to borrow.
ReplyDeleteHow can a man that sold an asset of $2Billion for just $200Million still have confident to talk.
God will punish every selfish political leaders in Nigeria