Unchecked Borrowing May Force Nigeria Into Avoidable Bankruptcy – PDP Governors
Governors elected on the Peoples Democratic Party (PDP) platform on Monday expressed concern about the rate at which the ruling All Progressives Congress (APC) borrows money to undertake infrastructure projects in the country.
This was one of the resolutions reached at the end of the PDP Governors’ Forum meeting in Uyo, the capital of Akwa Ibom State.
“Money should only be borrowed for productive purposes as Nigeria’s current debt of over N36 trillion is becoming clearly unsustainable relative to our earnings and GDP.'”
“We should not saddle incoming generations with an undue debt burden. The borrowing spree of the APC administration if unchecked will certainly lead Nigeria into avoidable bankruptcy,” a communique issued at the end of the meeting read in part.”