A former Governor of Anambra, Mr Peter Obi, has called on the Federal Government to invest the funds being borrowed in profitable ventures to enhance the nation’s socio-economic development.
Obi made the call on Thursday while speaking with newsmen shortly after his courtesy visit to Oyo State Governor, Mr Seyi Makinde, in Ibadan.
The News Agency of Nigeria reports that Obi, who is the Pro-Chancellor of Dominican University Ibadan, led top management of the institution on the courtesy visit.
He said that debt was not bad when rightly applied and used for investment that would improve the economy.
According to him, but borrowing for consumption is bad.
The former governor said that the economy would have been doing better if funds borrowed had been invested and rightly spent.