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Obasanjo Slams Tinubu Over Borrowing, Says Debt Destroys Generations

Former President Olusegun Obasanjo has criticised President Bola Tinubu over his position on borrowing, declaring that debt is worse than leprosy because it destroys generations. Obasanjo spoke at a symposium in Abeokuta, Ogun State, on leveraging artificial intelligence to solve grassroots problems and accelerate national development. Tinubu had said in April that borrowing should not […]

FG Defends $21.7bn Loan Plan, Says Borrowing Will Build National Assets

The Federal Government has defended its proposed $21.7bn external borrowing plan, saying the funds are intended to finance productive assets rather than consumption. The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, made this known shortly after Wednesday’s Federal Executive Council (FEC) meeting at the Presidential Villa in Abuja. Addressing public commentary […]

Tinubu Seeks NASS Approval for $7.8 Billion and €100 Million Loan

President Bola Ahmed Tinubu has formally submitted a request to the National Assembly for approval to secure a loan of $7.865 billion and €100 million as part of the 2022–2024 External Borrowing Rolling Plan. Speaker Tajudeen Abbas, who read the President’s letter, conveyed the purpose of this request, stating, “I am writing to address the […]

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