Connect with us

News

Peter Obi urges FG to invest loans in production, human development

Published

on

peter obi lying.webp

Peter Obi, the presidential candidate of the Labour Party in the 2023 general election, has called on the Federal Government to invest borrowed money in production and human development. 

Obi, in a statement published on his verified X page on Friday, opined that Nigeria should stop the “unproductive habit of throwing scarce and borrowed money at immediate problems and consumption.”

Obi, who made the remarks while reacting to the N30 billion in financial support given to each state by the federal government, noted that “our nation needs a clear and urgent move from consumption to production by prioritizing and investing in human development.”

While he commended the federal government for disbursing financial support to states, the former governor of Anambra State argued that the “details of the disbursement of such support be explained further” in the “interest of good governance and accountability.”

Obi’s statement reads, “Recently, the Senate President, Senator Godswill Akpabio, announced that a staggering financial support of N1.1 trillion, amounting to a sum of N30 billion each, was doled out to the state governors to help ameliorate the present hardship in the country.

“While the Federal Government is to be commended for offering such huge support, considering the difficult times people are going through, it is pertinent, for the interest of good governance and transparency, that the details of the disbursement of such support be explained further, so that the public, the masses for whom the support is meant, can follow through and ensure that it is utilized appropriately to the benefit of the people.

“While waiting for such details, I appeal that concerted efforts should be made to ensure that the resources are genuinely and transparently invested in productive ventures to alleviate present hardship and help the future growth of the country.

“We must stop this unproductive habit of throwing scarce and borrowed money at immediate problems and consumption, but rather, through an articulated plan, invest aggressively in production in a clear, visible, and transparent manner, in which people can see the future benefits.

“Now more than ever, our nation needs a clear and urgent move from consumption to production by prioritizing and investing in human development, which will go towards providing a sure and lasting solution to many of our challenges today.

“That is the surest way to put us on a path of developmental growth. This is the spirit of the New Nigeria we are clamoring for.”

Trending