The presidential candidate of the Labour Party (LP) Peter Obi has said that Nigeria must, as a matter of urgency, stop borrowing for consumption, but only borrow to invest in regenerative development projects and other productive ventures.
Obi, a former governor of Anambra State, said this on Wednesday via his verified Twitter handle.
“It’s ironical that States that received fiscal bailouts did not invest them properly; did not repay the loans and are still borrowing beyond their revenue earnings.
“Also, it has become imperative to restrict Federal borrowings to the statutory 5% of the previous year’s revenue,” Obi tweeted.
Meanwhile, Peter Obi’s media adviser, Valentine Obienyem, has said that his principal’s campaign would be based on issues and not personality when it starts.
“We know that things are not well in Nigeria. We know of the agitations in different parts of the country, our principal has always said what he would do with such organizations to stop their agitation and bring them back to Nigeria as one happy family.
“Rather than others say what they will do, they are here creating more problems by trying vainly and wickedly to link their fellow contestants to some of those organisations.”
