The
national chairman of the All Progressives Congress (APC), says
President Muhammadu Buhari must borrow funds and pump it into the
economy in a bid to revive it.
John Oyegun
While speaking on Sunday night after receiving a lifetime
achievement award, the national chairman of the All Progressives
Congress (APC), John Odigie-Oyegun, has defended the borrowing plans of
the President Muhammadu Buhari-led administration, saying borrowing is
inevitable in view of the current economic realities in the country.
The APC Chairman who spoke during the award ceremony presented to
him by the Warri Choral Society during a classical music concert the
Society held in his honour at the Muson Center in Lagos, said Nigeria
must borrow to invest in infrastructure and grow the economy.
According to Premium Times, he assured that the borrowings would not be used to pay salaries.
“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
four, five, six, 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,” the APC National Chairman told journalists after the concert.
The influential politician who was accompanied by his wife,
Victoria, said the timing of the concert came at perfect time for him in
view of the gradual de-escalation of the political atmosphere in the
country.
“I have had the esteem pleasure of being associated with the
Warri Choral Society. I got to know that they deliver the kind of music
that relaxes me, that transports me that comforts me.
“The date of this event cannot have been chosen more
fortuitously. It is absolutely perfect, given the chain of events that
have been reported in the newspapers almost on a daily basis. There has
been a gradual de-escalation of the political atmosphere and I think
this event is just capping it,” he said after receiving the lifetime achievement award.
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