Abdullahi Adamu: The government can keep borrowing forever

Abdullahi Adamu: The government can keep borrowing forever
Abdullahi Adamu: The government can keep borrowing forever

The All Progressives Congress (APC) national chairman, Abdullahi Adamu, has stated that the government “may borrow till eternity.”

In an interview with Trust TV, Adamu noted that all countries have to borrow money sometimes, and what bothers him is when the borrowed money is wasted.

… he said

Remembering a previous show, I recalled telling you, “I have no quarrel, difficulties with government borrowing.” The government has unlimited ability to borrow funds. Every major government borrows funds from the World Bank and similar organisations. This includes the United States, Canada, the United Kingdom, and France.

“Nigeria is not an exception; my beef is with frivolous spending of the funds being utilised to improve infrastructure all throughout the country.

“You also have to recognise that oil is the primary source of government funding… We’re looking into several diversification options. None of us are perfect, and these problems that reduce government revenue are not our fault.

Some countries’ sneezes make us sick. Since the Ukrainian conflict with Russia is affecting economies of all sizes, including our own, it seems silly to restrict our ideas to the status quo.

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