Former Anambra Governor, Peter Obi has said that the present administration of President Muhammadu Buhari is borrowing for consumption.
Although the Federal Government had highlighted the projects they borrowed the money for, but Obi, the President Muhammadu Buhari administration is borrowig for consumption.
Obi , who stated this while featuring as a guest on Chanell TV’s Politics Today, monitored by Newsbreakers advised that the Nigerian government should borrow money and put it into things that can bring people out of poverty. He gave an example of assistance to Micro, Small Medium Enterprises (MSMEs)_.
The entire loan or credit to the private sector in Nigeria is about 30t, Less than 5 percent is going to this sector.
That means you are not supporting your engine for growth.
In the UK, the biggest employer of labor is this sector that involves SMEs.
We have to have a fiscal policy that will bring growth to Nigeria.” he added.
On the Monetary Policy of the Central Bank of Nigeria (CBN), Obi advised that Nigeria should generate more foreign change. He said Nigeria should produce more to make more money. This he said, we make the Naira to be stronger.
More to come….
REAS: Finitri: PDP Manages Its Internal Crisis Better Than APC