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Don’t Take Any Loan If You’re Not Investing, Atiku Tells Buhari

Former Vice President of Nigeria, Atiku Abubakar, has urged President Muhammadu Buhari to desist from taking any loan if it is not for investment.

Atiku said the country has taken more loans under the administration of Buhari in the last three years, describing the monumental increase in borrowing vis-à-vis an unprecedented reduction in investments in education as worrisome.

The former Vice president made this known on Saturday, while speaking at a ceremony hosted by the American University of Nigeria in Yola, Adamawa.

Last week Thursday, Buhari sought the re-consideration and approval of the National Assembly on the 2016-2018 External Borrowing Plan of the Federal Government.

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“Two weeks ago, a friend of mine, Prof. Anya O. Anya, revealed that Nigeria has taken more loans in the last three years than she has taken in the 30 years preceding 2016.

“I am a businessman. Perhaps the first lesson one learns in business is that you do not take loans except it is to expand your business. There is no justification for taking out loans to pay salaries; meanwhile, you are not investing in your future generation.

“Nigeria’s greatness is not as tied to her elders as it is tied to her youth. That is where our investments should be focussed on,” Atiku added.

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