Honestly there is nothing wrong for any nation of the world to go and borrow money to rebuild her economy but before this is done, so many things would have to be considered first. What benefits do we get from borrowing? What are the implications, would I mortgage my conscience and that of my country as a result of this money I have borrowed? What would be the effect of this transaction both in the short run and also in the long run? Would this debt be a burden to the citizens of the country? And many more questions have to be asked and answered before finally borrowing the money. Most probably we assumed that president Buhari and his economic team may have given a serious thought to it because any mistake president Buhari makes now as regards borrowing money from China at this point in time may put the Nigerian economy in a very bad situation. This is why proper care and consideration should be thought through before final decision is taken to borrow such money from China. Again we assumed based on the information within our reach that president Buhari’s government has recovered lots of money looted by some Nigerian politicians who ruled the country in the past. We ask this question again, is that money not up to two billion dollars which he is going to borrow from China? Our (Viewers corner) advice on that is if president Buhari’s government has up to that amount in the Nigerian treasury, he should not borrow for now. Also he should brief Nigerians on the state of the economy and use the available fund in his disposal to start work and if after sometime what he has in the treasury can not be enough for his government in creating the infrastructures he intends to build for the country, then brief the Nigerian people again and tell them why it is very necessary to borrow money to finance projects in the country. This is very important in any democratic system of government, most things should be made open because as it is now, lots of people do not know what is going on within the country (Nigeria) but then if your government decides to work with China in all aspects, fine. There is nothing wrong with that but please be more open to the Nigerian people so that they would know the way your government is heading to because is their right to know most things about the Nigerian economy and how your government intends to pull the citizens of Nigeria out of this hardship they are passing through on daily basis which is very painful.
Source: Viewers Corner News