Senator Ali Ndume Condemns APC Executive Arm Of Govt For Excessive Borrowing, Quick Approval

Date: 17-09-2021 5:20 am (1 month ago) | Author: onuigbo felicia
- at 17-09-2021 05:20 AM (1 month ago)

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.

Posted: at 17-09-2021 05:20 AM (1 month ago) | Hero
- constigoldo at 17-09-2021 07:56 AM (1 month ago)
Only sorry for the person who will take over from Buhari, He will end up paying debts.
Posted: at 17-09-2021 07:56 AM (1 month ago) | Gistmaniac
- makathis at 17-09-2021 08:36 AM (1 month ago)
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Posted: at 17-09-2021 08:36 AM (1 month ago) | Newbie
- marijuanaa at 17-09-2021 06:31 PM (1 month ago)
Yeye ppl
Posted: at 17-09-2021 06:31 PM (1 month ago) | Upcoming