Loud Whispers with Joseph Edgar
Obafemi Hamzat: Lagos Best Bet? I believe that true reforms in our country can only come from the inside. Before you scream, listen – the APC is so entrenched that
President Tinubu expressed confusion over the continuous borrowing of $7 billion, bringing the total to a staggering N29 trillion in debt. This has raised concerns about the government's spending habits and the potential misuse of funds. Atiku Abubakar has criticized this as an "election slush fund," while President Tinubu himself admitted to feeling weary from the constant borrowing without any apparent end to government spending.
The high cost of running the government, combined with loopholes and leakages, has further exacerbated the situation. Parastatals are often managed poorly, similar to casinos in Las Vegas, with no clear end goals. One example mentioned is Nigeria's spending on the Ebola crisis, which amounted to N10 billion, only for issues to persist.
The President's borrowing patterns are concerning, particularly given the lack of collateralization, and the question remains as to why these funds are being spent without consideration for future generations.
Written by urgent.news from This Day's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
