Buhari needs $30bn loan to succeed, unveils Odigie-Oyegun


Buhari needs bn loan to succeed, unveils Odigie-Oyegun

The Nationwide Chairman of the All Progressives Congress, Chief John Odigie-Oyegun, has mentioned the President Muhammadu Buhari-led administration is left with no possibility however to borrow to revive Nigeria’s ailing financial system.

Buhari’s plan to borrow an estimated US$29.9bn from overseas lenders has been rejected by the Senate and opposed by some main Nigerian economists.

Odigie-Oyegun mentioned Nigeria wanted to borrow to be able to put money into infrastructure and develop the financial system.

The occasion chairman was quoted to have mentioned this after receiving a lifetime achievement award from the Warri Choral Society on the Muson Centre in Lagos.

This was contained in a press release from his workplace in Abuja on Monday.

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Odigie-Oyegun acknowledged, “In the event you learn the newspapers, you hear the President being suggested to pump cash into the economic system.

“So, the query is, the place is the cash coming from? Easy, it has to come back from someplace, together with borrowing – each inner and exterior.

“To get this nation going once more, you need to pay contractors. Some contractors haven’t been paid for 4, 5, six, 10 years.

“As long as the borrowing is finished, to not pay salaries, which the President Buhari administration is not going to do, however invested to create alternatives, resolve our issues of energy and issues like that.”

On the anti-graft warfare, Odigie-Oyegun described the conflict as a job that have to be achieved, saying corruption was on the core of the nation’s issues.

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He described corrupt individuals as “immoral and missing in ethics,” including that Nigeria should rid itself of corruption and its attendant penalties with a view to make progress.

The Edo State Governor, Mr. Godwin Obaseki, in his remarks on the occasion, described the APC chairman as “a person, who has, by the divine intervention of God, modified the face of politics in our nation.”

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