You must borrow to run the economy – Senator Jimoh Ibrahim backs FG’s borrowing plan

Senator Jimoh Ibrahim, who represents Ondo South in the National Assembly, has voiced his endorsement for the Federal Government’s borrowing plan.

During his appearance on Channels Television’s Politics Today on Monday, December 4, Ibrahim asserted that borrowing is essential for the Federal Government to effectively manage the country’s economy.

“If you don’t borrow to run the economy, what do you want to do? Where do you want to get the fund to run the economy? Dubai, with the population of 12 million people in total, is owing 168 billion dollars and look at what they have used the money to do? They are paying back now at 10 billion dollars a month.

“Now, Nigeria, with the population of 250 million people, is owing 77 million dollars, now you have challenges here and there. So, the key issue here has to do with the fact that you must borrow to run the economy.”