Your Continuous Borrowings Will Plunge Nigeria Into Trouble – Expert Warns Buhari

The Chief Executive Officer, SD&D Capital Management, Idakolo Gbolade, told Punch that although borrowing was not bad, the projects for which the loans were being sought should be able to pay back the debts.

“The government borrowing to fund infrastructure is not bad, but the problem is that the projects should be made to repay the loans. The government needs to look into this. For example, projects like roads should be tolled and proceeds used for repayment as well as railways, etc,” he said.

Gbolade added that although the country was still within the appropriate debt ratio, more borrowings would put the country in unfavourable conditions, which would jeopardise the future of unborn generations.

“Presently, Nigeria is still within the debt ratio, according to World Bank standards, but further borrowings with conditions that are not favourable to our sovereignty should be adequately examined in order not to put generations yet unborn in perpetual debt,” he added.

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