New Telegraph

December 11, 2023

Ndume berates Buhari, Senate, over excessive borrowing, quick approvals

The Chairman, Senate Committee on Army, Senator Ali Ndume, yesterday, berated the All Progressives Congress (APC)-led Executive arm of government for excessive and increasing borrowing and expeditious approval of such requests by the National Assembly. Ndume, who expressed his displeasure at a press briefing in Abuja, argued that borrowing was not a crime but observed that the thoroughness required for its approval was often not followed by the National Assembly. He pointed out that this was why Nigerians were suspicious of the members of the nation’s apex legislative Assembly, and called the federal lawmakers “rubber stamp”.

The lawmaker, who represents Borno South Senatorial District, further noted that some of such requests hurriedly approved in the past were yet to be granted. He explained further that in as much as loans or borrowings were required by the government to address the problem of infrastructural deficits facing the country, such loans should be cautiously considered in the face of debt servicing getting to 80 or 90%. He said: “Borrowing is not a crime but when the rate of debt services increases which I understand is getting to 80% to 90% you have to be cautious; you have to look for alternatives.

Read Previous

Insecurity: DSS establishes Special Intervention Squad, Tactical Teams

Read Next

Lull in COVID-19 boosts PoS deals by 43% to N4trn

Leave a Reply

Your email address will not be published. Required fields are marked *