Expert urges FG to sensitise Nigerians on $29.96bn foreign loan
An economic expert, Dr. Uju Ogubunka, has urged the federal government to educate Nigerians on the importance of the proposed $29.96 billion foreign loan towards boosting the economy.
Ogubunka, a former Executive Secretary, Chartered Institute of Bankers of Nigeria (CIBN) spoke in an interview on Sunday, in Lagos.
He suggested that government should sensitise Nigerians through various platforms, in order to reduce anxieties about the loan.
“Government should begin to reassure Nigerians more through proper clarification about the loan and its conditions, informing us will reduce the fears, build confidence and consensus,” he said.
He said that getting loans to put in place basic infrastructure is one of the best ways of stimulating economic growth.
“Requesting for loan now, is almost inevitable, because of the current price of oil at the international market. We are all aware that government’s revenue is inadequate to meet competing demands for development,” he said.
He said that the people’s mistrust for government accessing loans was expected because of previous experiences from past leaders.
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President Buhari had requested the National Assembly to approve an external loan of $29.96 billion to execute key infrastructural projects across the country.
The President’s request was sent through memos to Senate President, Ahmad Lawan and House of Representatives Speaker, Femi Gbajabiamila.
The president explained that the loan is to finance key projects in different sectors of the economy.
