National Chairman of the ruling All Progressives Congress, Senator Abdullahi Adamu, says the President Muhammadu Buhari-led Federal Government is free to “borrow from here to eternity.”
Adamu, while speaking on a Trust Television programme, argued that countries like the United States of America and the United Kingdom borrow funds from international financial institutions to meet their needs.
The Buhari administration has been criticised for its frequent borrowing to execute projects across the country.
But in justifying this, the APC national chairman said, “I remember a programme we had here, I told you and I thought you believed me that I have no quarrel, issues with government borrowing. Government can borrow from here to eternity. The American government borrows, the Canadian government borrows, the United Kingdom borrows, France borrows money from the World Bank and such other institutions.
“Nigeria is no exception, what I quarrel with is if the money is not used for a purpose and the infrastructure we are developing across the country is from this source.
“You also have to appreciate the fact of the level of revenue accruing to the government, oil is the main thing… We want to see how best we can diversify. These issues affecting the revenue accruing to the government are not our making no matter how good we are, they happen.
“When some countries sneeze we catch a cold. The Ukrainian crisis with Russia is having an impact on our economy and even in bigger economies than our own so why do we limit ourselves in our thinking.”
On the plan by some Senators to impeach President Buhari, Adamu noted that some lawmakers in the APC are supporting the plot against Buhari because they failed in their bids to win tickets to contest in the 2023 polls.
He said, “When this was going on, it was part of the heat of those who didn’t get what they wanted and they now capitalise on the pressure of the opposition to be hard.
“It was an opposition drive, they (those who lost tickets) supported it and they blamed the party and government.”