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Enough of borrowing money, Lawmaker urges Buhari

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Enough of borrowing money, Lawmaker urges Buhari



A lawmaker representing Obokun/Oriade Federal constituency at the House of Representatives, Oluwole Oke has appealed to the President, Major General Muhammadu Buhari to desist from securing random loans from the western world.

This is just as he urged the president to concentrate on appointing a seasoned economist to pilot and reposition the compass of the economy positively.

Oke, who is also the Chairman of the House Committee on Public Accounts, emphasised that overdependence on external borrowing at the slightest challenge was creating problems for the country’s future.

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According to Tribune, the lawmaker made the appeal at a special Convocation ceremony of Joseph Ayo Babalola University (JABU) Ikeji Arakeji, where an Honorary Degree was also conferred on him by the institution.

The House Committee chairman also advised Buhari to seek the assistance of economic advisors to curb policies somersault.

He insisted that Nigeria would continue to witness underdevelopment in all sectors if the problems of policies somersault were not properly addressed.

“The challenge before this country is because of economy policies somersault and I want to enjoin the government of President Muhammadu Buhari to engage a seasoned economist in his government because I have not seen a single economist in this government and that’s why we continue to have problem bordering on revenue leakages, the revenue is there, but we continue to be borrowing.

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“There is nothing bad in borrowing but when you borrow,  you should do something with the money, something tangible, capital projects that will repay borrowed money not borrowing money to pay salaries of workers, not borrowing money for going to seminars.

“There are some laws that the federal government and parliament must work on, we need to look at our tax principles, the operation of oil and gas-rich zones, the operation of Nigeria Export Promotion in the desert and know what is happening there, because these foreign companies and some locals are exploiting these laws because they are open-ended to avoid and evade tax.

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