Former Vice-President, Atiku Abubakar said that Nigeria under the administration of President Muhammadu Buhari, has taken more loans in the last three years, than it did in the 30-year period preceding 2016.
According to Atiku, this was revealed to him by his friend, Prof. Anya O. Anya, who is a former Chief Executive Officer (CEO) of Nigeria Economic Summit Group.
He said there was no justification for a government to take loans to pay salaries when it was not investing for the future generation.
Atiku stated this while speaking at a ceremony hosted by the American University of Nigeria on Saturday in Yola, the capital of Adamawa.
“Two weeks ago, a friend of mine, Prof. Anya O. Anya, revealed that Nigeria has taken more loans in the last three years than she has taken in the 30-year period preceding 2016.
“I am a businessman. Perhaps the first lesson one learns in business is that you do not take loans except it is to expand your business. There is no justification for taking out loans to pay salaries; meanwhile, you are not investing in your future generation.
“Nigeria’s greatness is not as tied to her elders as it is tied to her youth. That is where our investments should be focussed on,” Atiku added.