The National Chairman of the All Progressives Congress (APC), Abdullahi Adamu, has justified the perennial borrowings of the Federal Government despite warnings from experts and financial organisations on the danger such portends for the countrys economy and debt profile.
Adamu, who hinged his justification on the fact that developed countries in Europe and North America also borrow for one reason or the other, stated this when he featured on a television programme on Monday.
According to him, the Federal Government can borrow from here to eternity, adding that countries like the US and the UK borrow funds from international financial institutions to meet their needs.
“I have no quarrel or 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. Nigeria is no exception; what I quarrel with is if the money is not used for a purpose, and the infrastructure we are developing across the country is from this source, he said.
When some countries sneeze, we catch a cold. The Ukrainian crisis with Russia is having an impact on our economy and even in bigger economies than our own; so why do we limit ourselves in our thinking? he queried.
Recall that President Muhammadu Buhari has been criticised for his administrations borrowing to execute projects across the country.
