Chief Whip of the Nigerian Senate, Dr. Orji Uzor Kalu has said President Muhammadu Buhari is right to borrow from lending organisations across the world to finance infrastructure.
In his contributions at the floor of the Senate, Senator Kalu who represents Abia North said the economic realities of today make Buhari’s borrowing spree important.
“When a nation is trying to go into recession because of the COVID-19, you will resort to borrowing. In any economy where you have problem, you resort to borrowing. Mr. President (Buhari) is putting these borrowing into means.
“There are motorways being constructed in the North, in the South, in the East, in the West. What do you do when the economy is in near recession? You borrow to finance infrastructure” Sen. Kalu said.
According to Sen. Kalu, former Abia governor the infrastructure contained in the 2021 budget will only be financed through borrowing.
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The lawmaker said long term borrowing missions of Buhari will help rebuild the economy and put people back to work.
“I want this Senate, that because of the challenge we are facing, we must come out clearly to help Mr. President (Buhari) and look into this budget carefully and ask for the implementation of this budget for us to stand as a nation” he added.
He called on the members of the Senate to look beyond political party differences and work together to move the country’s economy forward.
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