President Bola Tinubu’s government, since its inauguration, has been borrowing money from the World Bank and International Monetary Fund to run the economy of Nigeria. Even some senators in Nigeria are encouraging President Bola Tinubu and his government to borrow more, which is very bad. Our concern is that the future of Nigeria and that of the children yet unborn may end up carrying huge burdens that they know nothing about, which may also put them in a disadvantaged position. We believe that money should be borrowed, but then it should be borrowed to execute projects that would yield profits so that in the short or long run, the gains from the borrowed money can be used to repay what was taken. But that is not what we are seeing in Nigeria. The government of Nigeria is borrowing money to execute non-profit ventures, thereby leaving huge debts behind, which is not so good. Now more trillions of naira have been borrowed by the government of Nigeria, and before you know it, another loan would be requested for. This system is hurting the economy of Nigeria so badly. Hence, we are appealing to APC/President Bola Tinubu’s government to go back to the drawing board and figure out how his government is going to put things right. Borrowing money all the time is certainly going to slow down the economy of Nigeria in the long run because the borrowed money is not being properly used to create businesses that would yield profits.
Source: Viewers Corner News