THE manner in which the Federal and state governments have been borrowing from foreign institutions has been shocking. I believe the Federal Government can raise money from Nigerians by launching appeals for funds to construct projects.
With the rate at which the naira is losing its value against foreign currencies, the money we borrow today will become huge tomorrow, and it may put our coming generation in financial bondage.
Having said this, I hope the Federal and state governments can be prudent in the management of scarce financial resources. It is expected that our government officials will shun foreign travels now due to the financial implication on Nigerian tax payers.
However, the government must ensure that workers are paid as and when due in order to ease the pain of recession currently sweeping across the country.
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