Monday, 5 December 2016

$30bn loan: Pres. Buhari needs to borrowto pay contractors, carry out projects-Odigie-Oyegun

APC National chairman, John Odigie-
Oyegun, has lent his support to plans by
the Federal government to borrow $30
billion from foreign financial institutions.
Recall that the proposed plan has been
opposed by members of the Senate and
some Notable Nigerians including the Emir
of Kano and former Central Bank
Governor, Muhammad Sanusi II.
However speaking with newsmen at a
function in Lagos yesterday, Odigie-Oyegun
said the ailing economy can only be
revamped by infusing money into it and
such money can either be gotten through
borrow. According to the APC chief,
President Buhari needs to borrow money to
pay contractors who have not been paid
for as much as 4-10 years, revive 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 4, 5, 6, 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. To allow people
to have money to consume, to buy goods,
to pay for services so that factories can
produce.
So it is that cycle. We must kick-start the
economy and to kick-start it will need
money, lots of money”he said He also
spoke on the anti-corruption campaign of
President Buhari “That is a task that must
be accomplished because it is at the bottom
of all the ills of this country. When you are
corrupt, you are immoral, when you are
corrupt, you don’t have ethics, when you
are corrupt, you lose the distinction
between right and wrong.
When you are corrupt, even life does not
mean anything to you. So, we must get it
under serious control for this nation to
have hope of making any progress.” he
said.

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