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SEC: Nigeria’s Rising Debt Servicing Is An Economic Threat - Politics (3) - Nairaland

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Re: SEC: Nigeria’s Rising Debt Servicing Is An Economic Threat by Nobody: 9:19am On Apr 04, 2021
Rugaria:
Tax, borrow and spend. That's the mentality of those in government. If the spendings are done judiciously, it would have made things easier to understand. But what we have here is a situation where a thoroughly confused government is desperately borrowing the country to death while using the same borrowed funds to award some overwhelmingly alarming contracts that are riddled with corruption and typical over-invoicing. Take for example the infamous Abuja-Kaduna-Zaria Road Contract that was awarded for nearly 1 trillion naira by Fashola and the gang.., at over 2 billion naira a kilometer! A project that has now won the Guiness world record for the highest amount spent on a kilometer of road anywhere in the world! Isn't that vicious? Can any patriot who genuinely loves his country be this wrechless with scarce funds? How can their salaries, estacodes, emoluments and other corrupt remuneration still be the same when they even borrow to pay workers meagerly!??

It obviously tells you that even those who run this country on day to day basis don't believe in the country! They actually hate this country! No president who has an iota of affection for his country runs it down this inglorious way! What will the next administration do after the economic crimes being committed by Buhari? The next president will then have to spend his four year term, servicing and paying debts incured by the last administration? Funds borrowed to build railways and power stations in Niger republic!? Put bluntly; maladministration is cultural to some thick heads in this country! Or how else would you explain a situation where a presidents daily routine simply revolves around increasing taxes, borrowing billions, spending mainly on projects in other countries, appointing cronies and ethnic henchmen to strategic positions and then making sterile speaches before disappearing into Aso rock for sleep!? Isn't that the height of administrative delinquency??

You have said it as it ought to be said. Really, disappointed in Fashola most especially considering he was someone we saw as a presidential material not knowing he was this terrible and corruptly dangerous.

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