Ekiti State Governor, Ayodele Fayose, on Tuesday said the plan by President Muhammadu Buhari to borrow $30bn to finance the 2017 budget is not good for the economy.

He spoke against the backdrop of Federal Government’s statement that 2016 budget of over N6trn had performed at only about 40 percent.

Fayose spoke at the government office in Ado-Ekiti during the distribution of 7,000 eye glasses to indigent Ekiti people who have bad eye sight.

He said, “If we borrow this much to finance 2017 budget, it means we will continue to borrow even till 2019 and the rate at which this government is borrowing money, I hope they will not plunge Nigeria into eternal debt, enslavement and misery.

“This has been the fear of many who are against taking of $30bn loan. And they will continue to borrow without attempting to concretely tackle the dwindling rate of our currency.

“What the Federal Government is doing is wrong. The FG under President Buhari does not have what it takes to lead this country economically and beyond.

“They themselves confirmed that the 2016 budget performed at about 40 percent or below. So, that is to tell you that they lack the vision, and don’t know what they are doing and are only deceiving Nigerians.”

Speaking about the inspiration behind the distribution of the eye-glasses, Fayose said the scheme was meant to benefit the poor and visually impaired who could not afford eye glasses and whose bad sight has affected their lifestyle.

rusher14:
30 Billion dollars isn't much when one needs infrastructure for a population of 170 million people.

If Nigeria cannot pay back a debt of 30 Billion dollars over a set period the country should simply be recolonised.

Aufbauh:
Those who are against the borrowing are simply been mischievous and are the true enemies of the state.
Before this move,Nigeria have a debt profile of about $97B from previous administrations and our present future is not being jeopardize even with visible infrastructural gap.

The hypocrisy about this same opposition is that they are the same group of people who wanted a quick fix and immediate free easy money without recourse to future plans. The same people crying for the future of our unborn children mischievously...smh

rusher14:
30 Billion dollars isn't much when one needs infrastructure for a population of 170 million people.

If Nigeria cannot pay back a debt of 30 Billion dollars over a set period the country should simply be recolonised.

9jakohai:
Fayose can talk, but the problem is, even if PDP was in charge.....we would STILL be borrowing money.

It all has to do with low oil prices,really.

Omeokachie:
Bubble economy...

Upraz:


Nobody said anything about borrowing during campaigns

ALMUSTAQIM:



THE FG WILL SURELY PAY BACK IN RECORD TIME.

FAYOSE IS JUST BEING PESSIMISTIC AS USUAL.

THE EKITI GOMINA WITH MOUTH DIARRHEA.

emmasege:
Are You current at all? Crude oil now sells higher than when Jona left office but daily production has not been stable and high enough like it should've been if there was peace and stability in the N/D region, thanks to the senseless comment of 97% & 5% of the president and his obnoxious "body odour" which suggests he hates Eastern Nigeria (S/E & S/S) with passion.

Spirit of sportsmanship from the president and a sound economic team would've been able to manage our economy without going outside to borrow. Some of his party people have even attested to this. We are too blessed with natural and human resources to resort to borrowing when there are opportunities within.

Whatever is left of Nigeria and Nigerians by the time Bubu finishes with us is for us all to endure and pass to innocent generations after us.

Aufbauh:
Those who are against the borrowing are simply been mischievous and are the true enemies of the state.
Before this move,Nigeria have a debt profile of about $97B from previous administrations and our present future is not being jeopardize even with visible infrastructural gap.

The hypocrisy about this same opposition is that they are the same group of people who wanted a quick fix and immediate free easy money without recourse to future plans. The same people crying for the future of our unborn children mischievously...smh

rusher14:
30 Billion dollars isn't much when one needs infrastructure for a population of 170 million people.

If Nigeria cannot pay back a debt of 30 Billion dollars over a set period the country should simply be recolonised.

emmasege:
Are You current at all? Crude oil now sells higher than when Jona left office but daily production has not been stable and high enough like it should've been if there was peace and stability in the N/D region, thanks to the senseless comment of 97% & 5% of the president and his obnoxious "body odour" which suggests he hates Eastern Nigeria (S/E & S/S) with passion.

Spirit of sportsmanship from the president and a sound economic team would've been able to manage our economy without going outside to borrow. Some of his party people have even attested to this. We are too blessed with natural and human resources to resort to borrowing when there are opportunities within.