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Why ‘You Must Borrow To Run Economy’ – Jimoh Ibrahim
Why ‘You Must Borrow To Run Economy’ – Jimoh Ibrahim
Why ‘You Must Borrow To Run Economy’ – Jimoh Ibrahim
Senator Jimoh Ibrahim emphasized the necessity for the Federal Government to borrow funds to efficiently manage the country’s economy.
The representative of Ondo South in the Senate made this assertion during an appearance on Channels Television’s Politics Today on Monday. His remarks were in response to a query regarding his previous endorsement of increased government borrowings.
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“If you don’t borrow to run the economy, what do you want to do? Where do you want to get the fund to run the economy? Dubai, with the population of 12 million people in total, is owing 168 billion dollars and look at what they have used the money to do? They are paying back now at 10 billion dollars a month.
“Now, Nigeria, with the population of 250 million people, is owing 77 million dollars, now you have challenges here and there. So, the key issue here has to do with the fact that you must borrow to run the economy,” Ibrahim stressed.
The lawmaker said that borrowing will help the Federal Government to build critical infrastructure which will enable it repay the loan in the long run.
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