Nigeria Is Poor Will Continue To Borrow – Senate President Ahmed Lawan
1 month ago Dammylink 0
The President of the Senate, Ahmad Lawan, says Nigeria will keep borrowing to fund critical infrastructures because the country is broke.
Lawan disclosed this on Thursday while interacting with State House correspondents after meeting with President Buhari at the Presidential Villa, Abuja.
Lawan said Nigeria is currently poor and had no other option, but to borrow to finance critical sectors of the economy.
The Senate President however, insisted that the legislature would not be frivolous in granting Executive’s requests for loans, adding that when permitted, the loans would be monitored to ensure effective use.
He also assured that the National Assembly would deliberate on other equally important matters such as the President’s request for loans before vacating for the summer.
We’ll also have the loan request from Mr. President.
The loan request is to fund the 2021 Appropriation Act and of course, this is not a new request.
“It’s something that we have passed in the MTEF and it’s something that when we pass the budget 2021, we also passed that.