Buhari’s Govt Left Empty Treasury, No Alternative To Nigeria Borrowing – Osoba

The former Governor of Ogun State, Olusegun Osoba, shed light on the current financial situation in Nigeria.

According to him, the previous government led by President Muhammadu Buhari left the country’s treasury empty, leaving the new administration no choice but to borrow in order to keep the nation afloat.

“When the treasury was empty and the last administration was borrowing to pay salaries, what else can you do except to borrow for now to fill the gap? That does not mean that the culture of borrowing will go on forever and ever. It’s only serving us for now,” said Governor Osoba.

This revelation comes as the new government, led by President Bola Tinubu, has been making efforts to address the financial challenges inherited from the previous administration.

The government has recently announced plans to borrow $8.6 billion and €100 million to fund various projects and initiatives.

The news has sparked a mixed reaction among the public, with some expressing concerns about the long-term implications of borrowing, while others believe it is necessary to keep the country moving forward.

In response to these concerns, Governor Osoba stated, “After the first year in office, the whole thing will be reviewed, and we will see. Talking of borrowing, when your pocket is empty, you have to go to your bank to shore you up for some time. It depends on how you manage that situation.”