The Minister of Labour and Employment, Chris Ngige, has explained why President Muhammadu Buhari is seeking loans from foreign countries.
Ngige made the
justification for Buhari’s loan request from foreign countries at a programme
organised by the National Directorate of Employment in Amawbia, Awka South
Local Government Area of Anambra State.
According to the
Minister, the alleged 16-years-loot of the treasury by the opposition party,
Peoples Democratic Party, PDP, had thrown Nigeria’s economy into a bad state,
thereby pushing the President to seek loans from foreign countries.
He said, “The only
option under the circumstance is to look for loans to give Nigerians good
governance because Section 14 of our Constitution says the security and welfare
of the people shall be the primary purpose of government.
“This is because the
Peoples Democratic Party, for 16 years, looted the nation’s treasury and
pauperised Nigerians.
“The PDP during the
oil windfall did not bother to save any kobo for this country. All (the money)
they got, they squandered. That is why Nigerians are pauperised this way today.
“Whatever money we
borrow today is not going to be used for recurrent expenditure. It is going to
be invested in railroads, power, roads, providing infrastructure for
agriculture and solid minerals. Won’t you want to see the construction of the
Onitsha-Enugu Expressway.”
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