Adesola Sulaimon
Presidential candidate of the Labour Party, Peter Obi has warned the Federal Government to “as a matter of urgency” stop borrowing money for consumption.

Obi gave the warning in a statement via twitter on Wednesday.

The former Anambra state governor advised the federal government to “only borrow to invest in regenerative development projects and other productive ventures instead of consumable goods.”

I was mocked when I lost my son – Adeboye

He tweeted “As a matter of urgency, Nigeria must stop borrowing for consumption, but only borrow to invest in regenerative development projects and other productive ventures

“It’s ironical that States that received fiscal bailouts did not invest them properly; did not repay the loans and are still borrowing beyond their revenue earnings

“Also, it has become imperative to restrict Federal borrowings to the statutory 5% of the previous year’s revenue. – PO”