{"id":50445,"date":"2021-09-20T17:59:34","date_gmt":"2021-09-20T16:59:34","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/?p=50445"},"modified":"2021-09-20T17:06:44","modified_gmt":"2021-09-20T16:06:44","slug":"borrowing-to-accumulate-debt-for-next-generations-is-criminal-obasanjo-tells-buhari-govt","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/borrowing-to-accumulate-debt-for-next-generations-is-criminal-obasanjo-tells-buhari-govt","title":{"rendered":"Borrowing to accumulate debt for next generations is criminal \u2013 Obasanjo tells Buhari govt"},"content":{"rendered":"

Africa-Press<\/a> – Nigeria<\/a>. <\/strong><\/span>Former Nigerian President, Olusegun Obasanjo has reacted to the move by the Federal Government to take fresh loans amid outcries by Nigerians over incessant borrowing by the current administration.<\/p>\n

Obasanjo, while speaking to Channels Television in South Africa, described as criminal, the alleged move to accumulate debt for the next generation to pay.<\/p>\n

Obasanjo expressed worries that if the existing debt remains unserviced or unpaid by President Muhammadu Buhari\u2019s administration, it might become a huge problem for successive governments.<\/p>\n

DAILY POST recalls that the president, a few days ago, requested the approval of the National Assembly to borrow the fresh sums of $4,054,476,863 and \u20ac710 million.<\/p>\n

Reacting, the former president who believes that borrowing is not a problem, however, stated that the challenge would be the utilization of the borrowed fund and the plan or capacity to pay back.<\/p>\n

He said, \u201cBut if you are borrowing and accumulating debts for the next generation and the next generation after them, it is criminal. What are you borrowing for?<\/p>\n

\u201cIf we are borrowing for recurrent expenditure, it is the height of folly. If we are borrowing for development that can pay for itself, that is understandable. Then the payment, how long will it take to pay itself?\u201d<\/p>\n

Buhari seeks Senate\u2019s approval for fresh $4bn, \u20ac710m loans<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. Former Nigerian President, Olusegun Obasanjo has reacted to the move by the Federal Government to take fresh loans amid outcries by Nigerians over incessant borrowing by the current administration. Obasanjo, while speaking to Channels Television in South Africa, described as criminal, the alleged move to accumulate debt for the next generation to […]<\/p>\n","protected":false},"author":84,"featured_media":50444,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,28,14,26],"tags":[1570,2140,97,254,479],"class_list":["post-50445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-policy","category-twitter","tag-africa-press","tag-africa-press-nigeria-2","tag-buhari","tag-nigeria","tag-obasanjo"],"yoast_head":"\nBorrowing to accumulate debt for next generations is criminal \u2013 Obasanjo tells Buhari govt - Nigeria<\/title>\n<meta name=\"description\" content=\"Former Nigerian President, Olusegun Obasanjo has reacted to the move by the Federal Government to take fresh loans amid ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/borrowing-to-accumulate-debt-for-next-generations-is-criminal-obasanjo-tells-buhari-govt\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Borrowing to accumulate debt for next generations is criminal \u2013 Obasanjo tells Buhari govt\" \/>\n<meta property=\"og:description\" content=\"Former Nigerian President, Olusegun Obasanjo has reacted to the move by the Federal Government to take fresh loans amid ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/borrowing-to-accumulate-debt-for-next-generations-is-criminal-obasanjo-tells-buhari-govt\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-20T16:59:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2021\/09\/img-6148b17b14df4.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/borrowing-to-accumulate-debt-for-next-generations-is-criminal-obasanjo-tells-buhari-govt#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/borrowing-to-accumulate-debt-for-next-generations-is-criminal-obasanjo-tells-buhari-govt\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Borrowing to accumulate debt for next generations is criminal \u2013 Obasanjo tells Buhari govt\",\"datePublished\":\"2021-09-20T16:59:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/borrowing-to-accumulate-debt-for-next-generations-is-criminal-obasanjo-tells-buhari-govt\"},\"wordCount\":230,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/borrowing-to-accumulate-debt-for-next-generations-is-criminal-obasanjo-tells-buhari-govt#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2021\/09\/img-6148b17b14df4.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"Buhari\",\"Nigeria\",\"Obasanjo\"],\"articleSection\":[\"all news\",\"homepage-english\",\"Policy\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/borrowing-to-accumulate-debt-for-next-generations-is-criminal-obasanjo-tells-buhari-govt#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/borrowing-to-accumulate-debt-for-next-generations-is-criminal-obasanjo-tells-buhari-govt\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/borrowing-to-accumulate-debt-for-next-generations-is-criminal-obasanjo-tells-buhari-govt\",\"name\":\"Borrowing to accumulate debt for next generations is criminal \u2013 Obasanjo tells Buhari govt - 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