Iba Gani Adams, the Aare Onakakanfo of Yorubaland, has lamented the fact that Nigeria has been turned into a beggar nation due to unbridled and huge borrowings under the administration of President Muhammadu Buhari, IgbereTV reports
The president of the Oodu’a Peoples Congress (OPC), who raised his fears on Sunday at the grand finale of the Ajagunmale festival held in Lekki, Lagos, warned that the huge and unrestricted borrowings by the Buhari-led administration had become the bane of the Nigerian economy and until the “unnecessary loans and borrowings” were curtailed, Nigeria would remain a “begging country”.
“The unrestricted borrowings have been a huge burden that has crippled the Nigerian economy. Nigerians can feel the hardship in all spheres of the nation’s economy under this regime,” Adams said.
“The DMO said Nigeria’s debt stock rose from N42.84 trillion in June, to N44.06 trillion in September.
“The total debt stock comprises total domestic and external debt stock of the Federal Government, state governments and the Federal Capital Territory.
“With all these unnecessary borrowings and loans, they have turned Nigeria into a beggar country,” he noted
