The All Progressives Congress (APC), National Chairman, John Odigie-Oyegun has made it clear that Nigeria currently needs a lot of money, including the proposed $30 Billion foreign loan, to kick-start the much talked about economic development.
“We must kick-start the economy and to kick-start it will need money, lots of money…so long as the borrowing is done not to pay salaries which the President Buhari administration will not do, but invested to create opportunities, solve our problems of power and things like that.
Addressing news men after an event in Lagos, Oyegun defended the borrowing plans of the President, saying that the money will be invested in infrastructure to grow the economy.
“If you read the newspapers, you hear the president being advised to pump money into the economy. So the question is where is the money coming from? Simple! It has to come from somewhere including borrowing — both internal and external. To get this country going again, you have to pay contractors. Some contractors have not been paid for four, five, six, 10 years.
“It is meant to allow people to have money to consume, to buy goods, to pay for services so that factories can produce. So it is that cycle. [myad]