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Nigeria is poor, our only option is to borrow- Senate President Lawan

After a meeting at the Presidential Villa, Abuja, the Senate President, Ahmad Lawan, stated that our country is in a deep state of poverty, requiring assistance from other nations to survive and fund infrastructural activities.

He went on to state that the legislature will be very articulate in their dealings before granting Executive requests for loans. He assured the correspondents that such requests will definitely undergo thorough scrutiny to ensure the necessity of such demands. He went on to also disclose that when the Executive loan requests are approved, the use of the loan would be monitored through oversight.

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According to Lawan;
“What I want to assure Nigerians here is that we are not going to be frivolously supporting or approving loans for the executive arm of government.

Whenever we have to approve any loan, we have to insist on the details of what projects will be funded by those loans. We’ll have to look at the conditions that are attached to the loans.

Our options are really very limited as a country. First, we don’t have the necessary revenues, Nigeria is poor, we shouldn’t deceive ourselves. Nigeria is not rich, given the circumstances we live in, given the challenges we have; our resources are so low, our revenues are so low and therefore, the option of not doing anything, just to sit because we have no money, we shouldn’t go for infrastructure development, is not even an option worthy of consideration.”

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