Before I go into my piece proper, permit me to say a few words about a topical and pressing issue. President Muhammadu Buhari has just sought permission to borrow $29.6 billion. My immediate reaction to this is that it is very important that we as a nation and more particularly we as elders in this nation called Nigeria not make our youths bear burdens that will put them in perpetual bondage. I have never been against taken foreign loans, but I have stated and continue to state that such loans should be spent exclusively on developing Nigeria and not on salaries or schemes that do not add anything to our infrastructure.
That is why I question the president’s request to borrow $29.6 billion from foreign lenders. Yes, we are being told what the federal government plans to spend the money on, but how much of those expenditures affect the youths?
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BMB you're right again. The Government you're talking to seems dumb, deaf and adamant. Femi Falana advised the Substitution of Abacha Loot for the Loan. Kemi Adeosun(MOF) advised her colleague in the CBN to give out soft loans to Youths and small scale entrepreneurs to develop the economy. Others, including OBJ advised the Government to do what MOF suggested and even quoted the development of Lybia by Gaddafi as example we can all see. Others also advised the CBN to take Treasury Bills at say 4 & a half percent and give to Youths and small scale businesses at about 5 percent. It seems that this Government doesn't know the Arts of Governance, doesn't know Democracy and doesn't know her Responsibilities for developing her Youths and the economy. It's like the F.G wants easy way to rope every one into his PLAN to pay N56000 per month minimum wage to the Nigerian Labor without a "Productivity Arrangement". What a Mess? What a Government?