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It's Criminal To Borrow And Accumulate Debt For The Next Generations - Obasanjo tells Buhari

Former Nigerian President, Olusegun Obasanjo has told President Muhammadu Buhari-led federal government that it is criminal to borrow and accumulate debt for the next generations to pay. 

He said this in reaction to Buhari's latest request to the National Assembly for the approval of fresh loans of $4,054,476,863 and €710 million.

Obasanjo said borrowing for recurrent expenditure is the height of foolishness.

The former President said this while speaking in an interview in South Africa, at the weekend.

According to him, it would become a huge problem for successive governments if the existing debt remains unserviced or unpaid by Buhari’s administration.

“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?" Obasanjo said. 

There have been outcries by Nigerians over the unending borrowings by the current government since it came to power in 2015 as there are little infrastructural projects to show for it.

Content created and supplied by: Timmy (via Opera News )

Muhammadu Nigerian Obasanjo Olusegun Obasanjo South Africa


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