Former Southeast Governor Sends a Message to Buhari, Says Borrowing for Consumption Must be Stopped
- A former vice-presidential candidate of the Peoples Democratic Party (PDP), Peter Obi, has given a piece of advice to President Buhari
- Obi, who was an ex-governor of Anambra state, asked the FG used for investment that would improve the economy
- According to him, the economy would have been doing better if funds borrowed had been invested in a right investment
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Ibadan, Oyo - A former governor of Anambra, Peter Obi, has advised the federal government to invest the funds being borrowed in profitable ventures to enhance the nation’s socio-economic development.
TheCable reports that Obi gave the advice on Thursday, August 19, while speaking with journalists shortly after his visit to Seyi Makinde, Oyo state governor.
Source: Facebook
Legit.ng gathered Obi said debt is not bad when rightly applied and used for investment that would improve the economy, but that borrowing for consumption is bad.
The former governor said the economy would have been doing better if funds borrowed had been invested and rightly spent.
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Daily Sun also reports he asked the government to use the funds wisely, saying what develops a nation is education, health and things that can pull people out of poverty.
Obi said more people would be thrown into poverty if the government fails to invest in those things that would improve the economy.
Speaking on the newly signed Petroleum Industry Act, he said the law is needed but the government would have considered the five percent being demanded by the host communities.
The former governor called for the conduct of a free, fair and credible election, in the forthcoming Anambra governorship election.
Peter Obi tells Igbos to convince Nigeria why the southeast should produce the next president
Meanwhile, Legit.ng had previously reported that the vice-presidential candidate of the Peoples Democratic Party (PDP), Peter Obi, on Monday, August 9, revealed that the southeast region needs to present a convincing argument to Nigeria as to why it has to be them that should produce the next president.
It was reported that Obi stated that the Igbos had compelling reasons to want to produce the country’s next president in 2023.
The former governor according to Sahara Reporters went on to note that the southeast must, however, embrace the politics of engagement and consultation, and not confrontation.
Source: Legit.ng
