The presidency has said the government’s borrowing approach
is a necessary instrument for driving economic development.
The Special Adviser to the President on Information and
Strategy, Bayo Onanuga, stressed that when loans are utilized responsibly,
borrowing should not be viewed negatively.
Onanuga made this clarification at a media interaction held
in Lagos, where senior presidential aides addressed journalists on the
administration’s economic achievements and future plans.
President Bola Tinubu, last week submitted a request to the
National Assembly, seeking approval for fresh external and domestic loans
amounting to N34.15 trillion.
“It is not a sin to borrow. Even developed nations like the
United States of America and the United Kingdom borrow beyond their GDP. The
issue is not borrowing; it is what you do with the borrowed funds,” he said.
Also speaking, Special Adviser to the President on Public
Communication, Sunday Dare, emphasised the significance of borrowing for
large-scale development projects.
“We can’t build highways from Lagos to Calabar or Sokoto to
Bida without borrowing. Projects like these wake up entire regions
economically.
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FG please just borrow me 1millon,
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