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“Given the challenges, the only option is to keep borrowing responsible” – Senate President, Lawan

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Senate President, Ahmad Lawan has clarified that it is huge for the Federal Government to keep on borrowing mindfully to finance basic activities in Nigeria on the ground that the nation is poor.

The Senate President revealed this on Thursday while informing State House journalists following a private meeting with President Muhammadu Buhari in Abuja.

According to Lawan, he believes it’s anything but sensible for the Federal Government to add more on the people notwithstanding the present economic condition, adding that the county’s plan to develop should be established.

He said;

“You can’t, in my view and judgment, tax Nigerians further for you to raise the money for infrastructural development; other countries do that, but we’ve serious situation across the country.

“So, you can’t put taxes on the people. The only option left is for us to borrow responsibly, utilize prudently and economically, and ensure that the projects are self-sustaining; that they can pay back the loan.

“Our options are really very limited as a country. First, we don’t have the necessary revenue; Nigeria is poor, we shouldn’t deceive ourselves. Nigeria is not rich given the circumstances we live in, given the challenges we have.

“Our resources are so low, our revenues are so low; therefore, the option of not doing anything just to sit (because we’ve no money, we should not go for infrastructure development) is not an option worthy of consideration. You cannot keep the economy stagnant.”

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“Given the challenges, the only option is to keep borrowing responsible” – Senate President, Lawan

spot_imgspot_img

Senate President, Ahmad Lawan has clarified that it is huge for the Federal Government to keep on borrowing mindfully to finance basic activities in Nigeria on the ground that the nation is poor.

The Senate President revealed this on Thursday while informing State House journalists following a private meeting with President Muhammadu Buhari in Abuja.

According to Lawan, he believes it’s anything but sensible for the Federal Government to add more on the people notwithstanding the present economic condition, adding that the county’s plan to develop should be established.

He said;

“You can’t, in my view and judgment, tax Nigerians further for you to raise the money for infrastructural development; other countries do that, but we’ve serious situation across the country.

“So, you can’t put taxes on the people. The only option left is for us to borrow responsibly, utilize prudently and economically, and ensure that the projects are self-sustaining; that they can pay back the loan.

“Our options are really very limited as a country. First, we don’t have the necessary revenue; Nigeria is poor, we shouldn’t deceive ourselves. Nigeria is not rich given the circumstances we live in, given the challenges we have.

“Our resources are so low, our revenues are so low; therefore, the option of not doing anything just to sit (because we’ve no money, we should not go for infrastructure development) is not an option worthy of consideration. You cannot keep the economy stagnant.”

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Stay Connected

538FansLike
0FollowersFollow
16FollowersFollow
- Advertisement -spot_imgspot_img

Latest Articles