There is nothing wrong with Nigeria Taking More Loans – Presidential Aide to President Buhari

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A presidential media aide, Femi Adesina, has said there is nothing wrong with the federal government borrowing to finance developmental projects that will benefit the Nigerian economy. Adesina was said to have made the statement when he called from his Aso Rock office to answer questions during a programme on Fresh FM, The Nation reports. 

He urged Nigerians to stop criticising efforts of the federal government in securing more loans to develop the country, pointing out that Nigeria’s economy has the capacity to absorb more loans. 

Adesina insisted that the current administration is applying loans to the specific projects they are meant for and so there was no need for Nigerians to raise concerns about the country’s rising debt profile. He said it does not constitute a crime to take loans for development purpose but that it is criminal to take loans for the purpose of diverting to private pockets. Adesina pointed out that the huge debt which the country owes was largely borrowed by previous administrations. 

The aide disclosed that the Nigerian government could borrow more money to revive the economy which has been battered by the COVID-19 pandemic.  

By: Kess Ewubare 

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