Human Rights Group Slams Buhari Administration’s Excessive Borrowing

Human Rights Group Slams Buhari Administration’s Excessive Borrowing

By Wires Editor | The Trent on October 23, 2019
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The details are contained in the 2020 budget proposal which was submitted to the National Assembly by President Muhammadu Buhari on Tuesday, October 9, 2019.
The details are contained in the 2020 budget proposal which was submitted to the National Assembly by President Muhammadu Buhari on Tuesday, October 9, 2019.

Kehinde Taiga, the chairman of the Committee for the Defence of Human Rights, CDHR, has lamented that the present administration could put Nigeria in a difficult situation with continuous borrowing.

This may not be unconnected with the plan of the Federal Government of Nigeria to receive $3 billion loan from the World Bank.

Prince Kehinde Taiga

Speaking with DAILY INDEPENDENT on Monday, October 21, 2019, in Asaba, Taiga bemoaned the recurrent attitude of borrowing to finance the economic activities of the country.

He noted that such an unpleasant attitude would put Nigeria in a tight corner by the end of the current administration, saying that it would not help development; instead, administration after him would continue to pay the debt.

According to Taiga, “By the time this administration is done, Nigeria could be in a tight corner with continuous borrowing.”

He said Nigeria has a good financial status contrary to claims by the government, stating that, I do not support borrowing because most of our politicians can dish out such money with ease.

“It is the same thing that has been happening in the past. The President has once blamed the excessive borrowing of past regimes,” he disclosed.

However, he charged the Federal Government to invest the money in the power sector, as its critical attention.

“We have always borrowed money without getting value of such monies, I hope the money would be used to solve the problem of the power sector,” he said.

Read more at NewsExpress

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