You must borrow to run economy – Senator Jimoh Ibrahim backs FG’s borrowing plan and Tinubu-led delegation at ongoing COP28 Climate Summit



Senator representing Ondo South in the national assembly, Jimoh Ibrahim has thrown his support towards FG’s borrowing plan.

Appearing on Channels Television’s Politics Today on Monday, December 4, Ibrahim stated that the Federal Government must borrow money to run the country’s economy effectively.

He said;

“If you don’t borrow to run the economy, what do you want to do? Where do you want to get the fund to run the economy? Dubai, with the population of 12 million people in total, is owing 168 billion dollars and look at what they have used the money to do? They are paying back now at 10 billion dollars a month.

“Now, Nigeria, with the population of 250 million people, is owing 77 million dollars, now you have challenges here and there. So, the key issue here has to do with the fact that you must borrow to run the economy.”

The senator who stated that borrowing will help the Federal Government to build critical infrastructure which will enable it repay the loan in the long run, also defended the President Bola Tinubu-led delegation to the ongoing COP28 Climate Summit in Dubai, the United Arab Emirates (UAE).

Ibrahim averred that Nigeria might want to host the event in the future and therefore that number of delegates from the country was justified. He also said that the 422 persons funded to the event out of the total 1,411 Nigerian registered delegates at the summit weren’t enough as they have an influence on knowledge sharing at the event.

He said;

“Funding (over) 400 people to a conference like this is too small. You may want to host the conference sometimes in future.”

Jimoh Ibrahim also said the international community won’t take President Tinubu serious if he was in Dubai with a lean delegation.

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