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It's Important For The Buhari's Government To Borrow- Gbajabiamila

Speaker of the House of Representative, Honourable Femi Gbajabiamila has said the only way to run a country like Nigeria is on deficit and borrowing.

Gbajabiamila said this on Channels Television progamme, Politics Today.

President Muhammadu Buhari on Tuesday, September 14, 2021 asked the approval of the National Assembly to borrow another $4 billion ($4,054,476,863) and €710 million loan from bilateral and multilateral organisations to fund the deficit in the 2021 budget.

The president, in a letter to the Senate, said the loan request is an addendum to the 2018-2020 borrowing plan.

He also asked the lawmakers to approve grant components of $125 million.

  Buhari request came after the Senate approved a $8.3 billion, €490 million external loan request in July 2021.

When The Speaker, Femi Gbajabiamila, was asked If the 9th Assembly was just a rubber stamp of the Executive Arm with regards to the implementation of policy and the increasing deficit due to borrowing done by the Buhari administration. 

The speaker said He doesnt mind working in harmony with the executive arm of the Government If it brings progress for the country as a whole . 

He also said For the Nigerian Economy to grow especially during this unprecedented period of the Pandemic, it is essential for The Government to borrow but cautiously and with the Funds being spent judiciously on Important programs such as infrastructure Developmert.

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

Buhari Femi Gbajabiamila Gbajabiamila Muhammadu Buhari Senate


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