Will the borrowings ever stop?


Last Thursday, during the presentation of the 2022 budget, tagged Budget of Economic Growth and Sustainability, President MuhammaduBuhari revealed that the country would need to borrow the sum of N4.89trillion to partly finance the N16.39trillion budget. The president also stated that the country would be expending N3.61trillion, almost a quarter of the budget, on servicing existing debts.

It is quite a sad commentary on the management capacity of those saddled with the responsibility of steering the wheel of the nation that they have almost returned the country to the league of heavily indebted poor countries after former President OlusegunObasanjo got a debt relief for the country in…

Source: Nigerian Tribune