The National Secretary of the Coalition of United Political Parties (CUPP) High Chief Peter Ameh has stated that Tinubu’s government borrows money to enrich the political class.
Ameh, noted that despite promises by the Tinubu government, the Nigerian economy continues to suffer under the weight of debt.
He made this known in a statement on Thursday.
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.
“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.”
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He said there are two main reasons for external borrowing which include to boost consumption or to finance the temporary balance of payment deficits and structural reasons.
However, the continuous borrowing according to him appears cunning and deceptive.
“These continuous borrowing and the justifications provided by the current administration for it is nothing but sophistry,” Ameh added.
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