‘Absolute nonsense’- Obasanjo tackles President Tinubu over borrowing

Former President Olusegun Obasanjo has faulted President Tinubu over his comment that borrowing is just not leprosy, describing the assertion as “absolute nonsense”.

Obasanjo made the comment on Friday, October 30, whereas talking on the Ajibosin Platform, a public discussion board held in Abeokuta, the Ogun State capital.

Recall that in April this 12 months, President Tinubu defended his administration’s borrowing coverage, saying the federal government would proceed to take loans every time crucial.

“If we have to borrow, we borrow. Borrowing is not leprosy; we just have to work hard to be able to pay for it,” the president had mentioned.

In response, Obasanjo mentioned debt was extra damaging than leprosy as a result of its penalties may have an effect on generations.

“And for anybody to say debt is no leprosy is absolute nonsense. Debt is worse than leprosy. Because leprosy destroys only one person. Debt destroys generations,” the previous president mentioned

Obasanjo’s remarks come days after the President requested the nationwide meeting to approve a supplementary exterior borrowing plan of $20.52 billion and €1.04 billion to finance initiatives and programmes throughout a number of sectors.