Labour Party’s presidential candidate, Peter Obi has said that if he becomes president, Nigeria will borrow for investment and not for consumption, IGBERETV reports.
Peter Obi said this while speaking in a meeting with Lagos Chamber of Commerce and Industry. He said that other countries who borrow more money than Nigeria and Invest the money are doing better economically than Nigeria because Nigeria borrows money for consumption instead of investment.
He further explained that Nigeria still borrows to service debts because the money earlier borrowed was not invested to yield the profit that would have been used to service the debts.
