Borrowing: Budget Office backs Ahmed Lawan, decries poor state of Nigeria

Written by on June 26, 2021

The Budget Office of the Federation has said Nigerians must admit that their country is poor and only potentially rich.

It also stated that the country must keep borrowing to spend its way out of recession, backing earlier similar comments by Senate President Ahmed Lawan.

The Director General of the BOF, Ben Akabueze, made this known in reaction to President of the Senate, Ahmad Lawan, who made a similar claim earlier on Thursday while speaking to journalists at the State House, Presidential Villa, after meeting with President Muhammadu Buhari .

Akabueze, while Speaking in Abuja on Thursday night, faulted those criticising the debt profile of the country.

Responding to a question on repayment of loans during revenue shortfall and how Nigeria’s debt profile has skyrocketed under the present regime compared to the last administration, Akabueze noted that the exchange rate between naira and dollar before and now are not the same.

Credit: Punch

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