People say we have Over-Borrowed, but states need more money – Bagudu

Kebbi State Governor, Atiku Bagudu has reacted to the complaints of excessive borrowing from the present administration. Bagudu in his defence expressed that state governments need more resources to invest in infrastructural development and lift millions of poverty.

Bagudu stated this on Monday while speaking with journalists on the sidelines of the 27th Nigerian Economic Summit (NES) in Abuja.

He said the limiting factor for sub-national government is financial resources and called for synergy between the federal and state government on accessing more resources.

“I want to see the minister of finance, budget and national planning at the world stage telling investors that Nigeria needs $1 trillion to support development,” the governor said.

“People say we have over-borrowed, but we need more money, and we need the support urgently to invest in our capacities.

“I want to see how the ministry of finance (the minister is here) can go out there and confuse people on how to mobilise much more resources. For me, at the sub-national level, the limiting factor is resources.

“When Nasir el-Rufai, governor of Kaduna state, attempted to borrow from the World Bank… it was very frustrating for him to borrow small amount needed for the state on a development plan. You have to go to the federal government, assembly, all that.”