The All Progressives Congress (APC) has stated that its presidential candidate, Asiwaju Bola Tinubu, will not borrow in dollars from China or other lenders to create an infrastructure that will boost the economy and raise the average Nigerian’s standard of living.Information Guide Nigeria
Aliyu Audu, the APC PCC National Youth Spokesman, stated this on AIT’s ‘Focus Nigeria,’ where he engaged the spokesmen of three other major political parties in a panel discussion on maintaining openness in foreign loan administration.
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Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to CanadaGodwin Ogboji, Chancellor Incorporated Trustees Citizens Rights Aid and Control Initiative, convened the conversation.
Audu saw no problem with borrowing, noting all the countries including the US that are flourishing have a higher debt-to-GDP ratio than Nigeria.
“The health of an economy is determined by certain parameters; it is not by the size of your loan. We will not source for money in dollars. There are other ways of ensuring we have this infrastructure deployed without necessarily going through the stress of foreign loan,” he said.NYSC portal
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But the spokesman of PDP Campaign Council Dr. Ehiedu Aniagwu, disagreed. He noted the N17.1 trillion foreign loan borrowed by the administration was outrageous while in the last quarter of last year, the country was spending as much as N310 billion in excess of what it earned to service the loan.
He decried the details of government borrowing as opaque in addition to the area the funds were deployed and other conditionalities attached to some borrowed funds.
Also, the Chief spokesman of Labour Party PCC, Yunusa Tanko, decried the lack of transparency in the country’s foreign loan process over the years.
He said Labour party candidate, Peter Obi intends to block all of these leakages and generate revenue within the society and settle these debts that the two political parties have put the country into.
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Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada“We will subsidize the production and subsidize consumption. What Peter Obi and his running mate intend to do is to change the narrative from a consuming nation to a producing nation,” he said.JAMB Result
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