$20bn Loan: ‘We Are Overborrowing’ — Senator Umeh Warns

Senator Victor Umeh, representing Anambra Central, has criticised the Federal Government’s borrowing policy, saying Nigeria is over-borrowing while Nigerians bear the brunt of the country’s rising debt profile.
 
Umeh said the government had poorly managed the country’s resources, questioning the impact of repeated borrowing on the living conditions of citizens.
“We are over-borrowing in simple terms. Whether you do a GDP borrowing ratio and all that, the important thing is how are we faring in the circumstance as a country? Citizens are groaning, we are suffering. Even the rich also cry now in Nigeria,” he said.
The senator spoke on Politics Today, a current affairs programme on ...