FG Needs To Stop Borrowing – Ruth Kadiri
Nigerian actress, Ruth Kadiri has lamented bitterly over the fall of naira in the recent times as she implores the Nigerian government to desist from borrowing from different countries. Taking to her Instagram page, Nigeria is heading straight for destruction and the leaders are turning a blind eye and feigning ignorance to the fall of naira. According to her, the situation is so bad that if one happens to save a naira from the beginning to the end of the year, it will still not equal the present value of one dollar. The mother of one said the reason why government keep borrowing from China and other foreign countries is because the only fastest way to siphon funds is through oil and gas while there are other alternatives in the agricultural sector that will amass wealth for the nation. Speaking further, she implored Nigerians to invest largely on agriculture and other alternatives in order to keep up with the economy, hence reduce the frequent borrowings. She wrote: “Do you know that even if you have been saving 1 Naira daily since 1st of January, you won’t still have 1 Dollar by 31st of December? That is how bad the Naira had fared against other currencies of the world. The union called Nigeria doesn’t seems to be working, but the government aren’t happy to hear that. To grow the value of our Naira, the government needs to stop borrowing and start looking inward for value propositions within the country itself. We have alternatives to oil and gas, but it is not going to be the fastest way to raise funds that will be siphoned by the government officials. That is why borrowing from China, Brazil and others is seemingly becoming the norm. That works faster and it is the easiest means of raising money than investing in agriculture and others alternatives we have.
