CHIEF OBASANJO REACTS TO FEDERAL GOVERNMENT’S FRESH LOANS MOVE

Former Nigerian President, Olusegun Obasanjo has reacted to the move by the Federal Government to take fresh loans amid outcries by Nigerians over incessant borrowing by the current administration.

The former President, while speaking to Channels Television in South Africa, described as criminal, the alleged move to accumulate debt for the next generation to pay.

He expressed worries that if the existing debt remains unserviced or unpaid by President Muhammadu Buhari’s administration, it might become a huge problem for successive governments.
Reacting, the former President who believes that borrowing is not a problem, however, stated that the challenge would be the utilization of the borrowed fund and the plan or capacity to pay back.