Ekiti State Governor, Ayodele Fayose, on Tuesday said the plan by President Muhammadu Buhari to borrow $30bn to finance the 2017 budget is not good for the economy.
He spoke against the backdrop of Federal Government’s statement that 2016 budget of over N6trn had performed at only about 40 percent.
Fayose spoke at the government office in Ado-Ekiti during the distribution of 7,000 eye glasses to indigent Ekiti people who have bad eye sight.
He said, “If we borrow this much to finance 2017 budget, it means we will continue to borrow even till 2019 and the rate at which this government is borrowing money, I hope they will not plunge Nigeria into eternal debt, enslavement and misery.
“This has been the fear of many who are against taking of $30bn loan. And they will continue to borrow without attempting to concretely tackle the dwindling rate of our currency.
“What the Federal Government is doing is wrong. The FG under President Buhari does not have what it takes to lead this country economically and beyond.
“They themselves confirmed that the 2016 budget performed at about 40 percent or below. So, that is to tell you that they lack the vision, and don’t know what they are doing and are only deceiving Nigerians.”
Speaking about the inspiration behind the distribution of the eye-glasses, Fayose said the scheme was meant to benefit the poor and visually impaired who could not afford eye glasses and whose bad sight has affected their lifestyle.