$30 Billion Loan controversy: Plan for the economy before borrowing – Johnson
TVC E. Last week, President Muhammadu Buhari shocked a lot of economic and financial experts by asking the National Assembly (NASS) to approve $29.96bn approximately $30 billion worth of loans to cover budgetary deficits for the years 2016 to 2018. The Financial analyst, Johnson Chukwu a guest on TVC Breakfast Show, said the nation should plan properly on what to use the money for and how to manage the fund before borrowing.
The financial analyst went further to say, It is important to urge the lawmakers not to be in a hurry to approve it. The commitment of a nation and its distant future to a debt of this magnitude is certainly too vital to be left to politicians in Abuja to decide entirely on their own. It is our lives and our future and those of our children and grandchildren that they are gambling with if this mind-boggling request is not carefully considered.