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last updated by Tolu 2 months, 1 week ago
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  • #22404
    Okey_14_boi
    Moderator

    Borrowing to accumulate debt for next generations is criminal – Obasanjo tells Buhari administration

    Borrowing to accumulate debt for next generations is criminal – Obasanjo
    Borrowing to accumulate debt for next generations is criminal – Obasanjo

    Olusegun Obasanjo has reacted to the Federal Government’s decision to take out new loans, which comes amid public outcry over the current administration’s persistent borrowing.

    In an interview with Channels Television in South Africa, Obasanjo branded the suspected plan to accrue debt for the next generation to pay as a criminal. Obasanjo voiced concern that if President Muhammadu Buhari’s administration fails to service or pay the present debt, it will become a significant burden for future governments.

    DAILY FAMILY recalls that the president asked consent from the National Assembly a few days ago to borrow new funds totalling $4,054,476,863 and €710 million.

    In response, the former president, who feels that borrowing is not an issue, indicated that the challenge would be the use of the borrowed funds as well as the repayment plan or capacity.

    He said, “But if you are borrowing and accumulating debts for the next generation and the next generation after them, it is criminal. What are you borrowing for?

    “If we are borrowing for recurrent expenditure, it is the height of folly. If we are borrowing for development that can pay for itself, that is understandable. Then the payment, how long will it take to pay itself?”

     

    Read Also: APC to PDP: We will keep borrowing, it is for the good of the country

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    okey_14_boi

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    • #22456
      Bernard
      Participant

      OBj spilling raw truths like a man of God, the fact that he has been our best president for the past 2 decades speaks a lot about our downward spiral

      Share
    • #22460
      Chichi
      Participant

      tell them sir, it seems we just placed a bunch of bouffuns to rule over us a nation, these people clearly do not have what it takes to be leaders of this great nation….

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    • #22471
      Seyibabs8
      Participant

      All of una be thieves

      Share
    • #22506
      Tolu
      Participant

      Clueless people

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