ECONOMY: We cannot borrow our way out of our situation —Obi

Former Anambra State Governor, Peter Obi, has advised the President Muhammadu Buhari-led administration to reduce its borrowing as Nigeria cannot afford to borrow its way out of its current economic situation.

Obi, a former Vice Presidential candidate of the Peoples Democratic Party (PDP), in the 2019 general elections, who wrote on his official Twitter Handle, @PeterObi, on Monday, November 30, challenged Buhari by saying his administrations’ huge borrowings for consumption is uncalled for and very unnecessary.

Read also: Ex-Gov Peter Obi set me up, used SARS to demolish my hotel, businessman tells #EndSARS panel

Obi added that Nigeria’s biggest challenge at the moment is that the “government keeps borrowing money on consumption and not on productivity,” noting that the country “cannot borrow its way out of the current situation as it stands now.”

“We cannot borrow our way out of our situation. Our biggest challenge is that we’ve been borrowing for consumption and not for productivity,” Obi tweeted.

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