Borrowing To Accumulate Debt For Next Generations Is Criminal – Obasanjo


Previous Nigerian President, Olusegun Obasanjo has responded to the move by the Federal Government to take new credits in the midst of objections by Nigerians over ceaseless acquiring by the current organization.

Obasanjo, while addressing Channels Television in South Africa, depicted as criminal, the supposed move to amass obligation for the cutting edge to pay.

Obasanjo communicated stresses that if the current obligation remains unserviced or neglected by President Muhammadu Buhari’s organization, it may turn into a colossal issue for progressive governments.

Rowzy Radio recalls that the president, a couple of days prior, mentioned the endorsement of the National Assembly to acquire the new amounts of $4,054,476,863 and €710 million.

Responding, the previous president who accepts that acquiring isn’t an issue, notwithstanding, expressed that the test would be the usage of the acquired asset and the arrangement or ability to repay.

He said, “However in case you are acquiring and collecting obligations for the future and the cutting edge after them, it is criminal. What are you acquiring for?

“In case we are getting for intermittent use, it is the stature of indiscretion. In case we are getting for improvement that can pay for itself, that is justifiable. Then, at that point the installment, how long will it require to pay itself?”


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