I had always maintained that it is only on issues of criminality and unconstitutionality that the senate and even the judiciary,should disagree with the executive. THE THREE ARMS ARE PART OF ONE THAT MUST WORK IN THE SAME DIRECTION.

There is absolutely nothing wrong in a senate president declaring an open support for a good policy,even before any debate.This happens even in so called developed democracies. For instance,by now every body already knows the stance of republican senators on the yet to be debated removal of TruMp from white house.It is not going to happen!

Instead of channeling efforts on check mating criminal expenditures like the proposed N37billion on mere NASS renovation,misguided critics are busy opposing the inevitable $23b loan for critical infrastructure!

The annoying thing about the wailing, is that no alternative and immediate solution had been given on how the urgently required $23b could be sourced.They are only concerned about debt burden for ''future generations.''

So the question now is, what is better for future generations?

A country with low debt burden lacking in power,roads ,rails and other infrastructures or a country with high debt burden,with all the required infrastructures for further development?

That Nigeria had reached its debt limit is an absolute lie from the pit of hell!
Nigeria cannot collapse because of debt burden.Our revenue base will continue to grow.And there is limit to debt servicing ratio over revenue.It will never reach 100%!

Improving our debt to revenue ratio can only be achieved medium to long term .It is not possible short term!!Efforts are on going in that direction.

The only short term alternative is to increase personal and corporate income taxes astronomically!! Widening of the tax net is not also achievable,short term. Nigeria's tax base will only grow organically.

Whereas,it makes more economic sense to borrow cheap funds,rather than use revenue,the cost of which is spread over many years,

South Africa,Egypt, etc,with smaller populations,have a debt burden much higher than ours.t ($183b,$92b respectively),

South Africa's tax to GDP ratio is 29%,for Egypt,it is 17%. It is just a meager 7% for Nigeria.Any attempt to do a fast catch up,can only result in calamity!

The senate president had emphasized the need to thoroughly monitor the loan utilisation. That is much more important than a debate or loan request scrutiny.And by the way,is it possible for a senate to approve the loan without scrutiny?

There was a committee set up by the senate to do the necessary scrutiny ,the report must have been submitted and the senate president privy to the recommendations.

Lawan already knows that the senate via the recommendations of the committee,will approve the loan!

The Senate should continue to'' rubber stamp'' for progress and development,to wipe away our tears of many years of bad governance.

story for the gods

BMO on counter mission.