According to High Chief Peter Ahmeh, National Secretary of the Coalition of United Political Parties (CUPP), Tinubu’s administration takes out loans to benefit the political elite.
Ameh pointed out that the Nigerian economy is still suffering from debt, even after the Tinubu administration made promises.
He revealed this on Thursday in a statement.
The statement partly reads, “The current administration, like past administrations under President Buhari’s leadership, has significantly misused the idea of borrowing, going against universal principles.
Peter Obi Reacts Over Alleged Borrowing By Tinubu Govt
“In Nigeria, our continuous borrowing seems to be for the political and financial benefits of the political class. Consequently, the country remains in a stagnant state.”
According to him, there are two primary justifications for borrowing money from outside sources: structural justifications and increasing spending to cover short-term balance of payments deficits.
But, in his opinion, the ongoing borrowing comes across as crafty and dishonest.
“These continuous borrowing and the justifications provided by the current administration for it is nothing but sophistry,” Ameh added.
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