$30bn loan won’t be used to pay salaries – Oyegun

-

The All Progressives Congress, APC, National Chairman, John Odigie-Oyegun has disclosed that the $30bn foreign loan being sought by the administration of President Muhammadu Buhari will not be used to pay salaries.

Recall that Buhari had written to the senate seeking permission to source for a $30bn foreign loan.

Addressing reporters after an event in Lagos, Oyegun defended the borrowing plans of the President, explaining that the sum will be invested in infrastructure to grow the economy.

According to Oyegun, “If you read the newspapers, you hear the president being advised to pump money into the economy. So the question is where is the money coming from? Simple! It has to come from somewhere including borrowing — both internal and external. To get this country going again, you have to pay contractors. Some contractors have not been paid for four, five, six, 10 years.

“So long as the borrowing is done not to pay salaries which the President Buhari administration will not do, but invested to create opportunities, solve our problems of power and things like that.

“To allow people to have money to consume, to buy goods, to pay for services so that factories can produce. So it is that cycle. We must kick-start the economy and to kick-start it will need money, lots of money.”

Comments

Post a Comment

Popular posts from this blog

Confraternity and kidnappers gathering in Hotels, BHSF sends caution to members

-
Image
By Isaac Eranga, Journalists for Peace Network  Benin City: The Business and Hoteliers Stakeholders Forum (BHSF) has called on members to refrain from allowing any confraternity gatherings or meetings within their respective business premises in order not to attract the wrath of Edo State government law.  This call was contained in a press statement signed by the Secretary of the Forum- Dr. Tabusite Osado, and made available to Social Reporters News Service in Benin City. The call equally urged members to guide against their business premises from being used as hideouts for kidnappers. According to the press statement, "it has come to the attention of of BHSF that the  Edo State Government, has  officially announced, that all hotel and guest house owners must remain vigilant and proactive in preventing any secret or confraternity activities on their premises.   "The Business and Hoteliers Stakeholders Forum (BHSF) is using this medium to strongly advise al...
Read more

BHSF commend EFCC Chairman -Ola Olukoyede for redeploying Zonal Director from Edo State

-
Image
The redeployed Acting Zonal Director of EFCC- Effa Imoh Okim Chief Bishop Omogiade Enoyiogiere Edokpolo- BHSF Chairman The Business and Hoteliers Stakeholders Forum (BHSF) has applauded the EFCC Chairman- Ola Olukoyede for redeploying the Acting Zonal Director- Effa Imoh Okim from Edo State , saying  it has long be the prayer of business owners and hoteliers in the State. The group also thank the Nigerian Bar Association (NBA) for throwing its weight behind them. This was made known in a press statement signed by the Secretary of the group- Osarobo Onaghise, Esq , and made available to newsmen in Benin City . This press statement is sequel to  the press conference conveyed by BHSF on October 1st, 2025, where the chairman of BHSF- Chief Bishop Omogiade Enoyiogiere Edokpolo called for the removal of the Acting Director from office  According to the statement, the call for the removal is not unconnected to the incessant attack on business premises by the  anti-graft a...
Read more

Purposeful leadership made me to remain in good standing with the People of Ovia North East, says Edwin Omoregie

-
Image
Dr. Edwin Omoregie, answering questions from newsmen  The Founder of Edwin Omoregie Foundation- Dr. Edwin Omoregie says two years after contesting for the position  of Chairman in Ovia North East Local Government Council, alongside his running  mate- Comrade Ogunsede Famous, in Edo State local government council elections, his  loyalty to the good people of Ovia North East Local Government Area, and Edo State at large, remains unwavering. According to the philanthropist, leadership is not about holding a position, it’s about holding on to purpose, that his purpose have always been to serve. "That purpose continues through the work of my foundation, 'Edwin Omoregie Foundation', which has remained committed to positively touching lives and uplifting our communities". Dr. Edwin Omoregie highlighted his Foundation's achievements to include the following: "Periodic palliatives for our elderly and the less privileged, because dignity and care should not be seasonal...
Read more