Govt's Indebtedness is Killing Economy, Senators Cry Out
The Federal Government is owing
and it is killing Nigeria's economy.
This formed major part of the discussion by senators during their plenary session on Tuesday.
The lawmakers are unhappy and they want President Buhari and his team to pay the debts immediately especially the ones they owe local contractors.
The Senators, in a series of tweets on their handle @NGRSenate, said even though they understand that the economy is experiencing difficult times as a result of a slump in oil prices, which has further led to a negative GDP, Buhari's government's indebtedness has worsened the unemployment crisis and increase in prices of goods.
"Further delay in servicing these debts may adversely affect business organisations," the senators said.
You may remember that recent media reports claimed that banks are being owed over N465 billion by fuel importers alone.
"These debts," the Senators said, "could spell doom for the banking and the financial services sectors."
They therefore appealed to Buhari and his team to take a proper look at its debt records and propose a plan for paying back.