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Why Nigerians Are Getting Poorer–Peter Obi

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Former Vice Presidential candidate of the Peoples Democratic Party, (PDP) Peter Obi, has stated that Nigerians are getting poorer because the Federal government is borrowing loans for consumption.

Obi stated this during an interview on Channels Television on Monday, September 13, arguing that while it is not a crime to borrow money, the funds must be used solely for productions that enhance the lives of the citizens and enrich the economy.

The former Anambra State governor also said that the nation’s Gross Domestic Product (GDP) cannot be growing while the people are getting poorer.

“Are you borrowing for productivity or are you borrowing for consumption? My worry here is that we are borrowing for consumption.

“I am saying that the country is not productive and there is nothing wrong in borrowing; if you are borrowing, then it shouldn’t be for consumption and that’s why more and more people are getting poorer,” he noted.

Further, he said that the growth Nigeria needs is one that “pulls people out of poverty by making the people have disposable income and be able to feed themselves”.

”Nigeria as a nation needs the kind of growth that will educate the children and provide primary health care for all communities.

“The country must do away with speculative growth that is given media hype without positively affecting the masses,” he added

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