Nigeria must borrow money to keep its economy going, says Jimoh Ibrahim.    

The only way the federal government can manage the economy successfully, according to Senator Jimoh Ibrahim of the National Assembly, is through borrowing. Senator Ibrahim represents the Ondo South District.

According to Jimoh, Nigeria can only obtain the money it needs through loans due to its large population and the necessity of developing vital infrastructure.

During an appearance on Channels TV Politics Today on Monday night, he disclosed this.

“What do you want to do if you don’t borrow to run the economy?” he said. Where are you going to find the money to manage the economy? Twelve million people live in Dubai, which has a debt of $168 billion. and observe what they have done with the money? They are currently repaying at a rate of $10 billion per month.

With 250 million people, Nigeria is currently in debt of 77 million dollars, and there are occasional difficulties. Therefore, the fundamental problem here is that borrowing is required to maintain the economy.

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The previous time I spoke, I suggested that they pay off the current debt, take out new loans, obtain a moratorium, unwind, and then return home to figure out where they went wrong before tackling infrastructure development.