Politics

Nigeria Can Borrow Till Eternity – APC Leader

Written by Zainab Sabitu

The National Chairman of the All Progressives Congress (APC), Abdullahi Adamu, has said that Nigeria can borrow money for development till eternity.

He stated this when he appeared on Trust TV on Tuesday.

Mr Adamu’s comment comes at a time the International Monetary Funds warned that Nigeria may spend nearly 100 per cent of its revenue on debt servicing by 2026.

According to the Debt Management Office (DMO), as of March 2022, Nigeria’s total debt portfolio (FG, State and FCT) was N41.6 million.

The country’s public debt has risen the most under the APC-led Buhari administration when compared to previous governments since the return of democracy in 1999.

Mr Adamu said he has no issue with borrowing and that his position has been consistent on the subject.

He noted that other advanced nations borrow to develop their infrastructure.

“I remember a programme we had here, I told you and I thought you believed me that I have no quarrel, issues with government borrowing. Government can borrow from here to eternity.

“The American government borrows, the Canadian government borrows, the United Kingdom borrows, France borrows money from the World Bank and such other institutions”.

Mr Adamu, a former senator, also spoke on the impeachment plot against President Muhammadu Buhari, saying some lawmakers of the ruling party backed the plot because of the outcome of the recent primaries.

The APC Chairman said some of the lawmakers who lost out during the primaries blamed the government and party for their loss hence they joined the impeachment move spearheaded by the opposition.

He said the lawmakers joined the opposition to be heard.

About 58 senators and some members of the House of Representatives failed to secure tickets during the primaries to recontest in the 2023 elections.

Albarka Radio learnt how the Senate President, Ahmad Lawan, dismissed a motion on insecurity and a move to impeach President Muhammadu Buhari. The dismissed motion was moved by the Senate Minority Leader, Philip Aduda, a member of the PDP.

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Zainab Sabitu

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