‘Copy South Africa’ – Peter Obi decries Nigeria’s ‘unproductive’ borrowing

The Nigeria Democratic Congress, NDC, statesmanlike candidate, Peter Obi, has charged Nigeria to emulate South Africa successful its borrowing patterns.

Obi gave the complaint connected Thursday successful a station connected his verified X handle, noting that borrowing itself is not a atrocious happening but the transparency is utilising the borrowed funds.

The erstwhile Anambra State politician described the South African signifier arsenic what accountable borrowing should look like, noting that the intent is clear, the projects are identifiable, and the expected benefits to citizens are measurable.

According to him, specified investments straight amended surviving conditions, heighten productivity, and stimulate economical growth.

“I person consistently maintained that borrowing, successful itself, is not a atrocious thing. Every federation borrows. The captious contented is not the enactment of borrowing, but what the borrowed funds are utilized for and whether citizens tin intelligibly spot and measurement the interaction of specified borrowing successful their regular lives.

“There is simply a batch to larn successful the unfastened and transparent mode successful which South Africa handled its precocious secured $1 cardinal indebtedness from the New Development Bank, with a intelligibly defined purpos...