Stop borrowing money, Lawmaker tells Buhari

The lawmaker representing Obokun/Oriade Federal constituency at the House of Representatives,  Hon. Oluwole Oke has urged President Muhammadu Buhari to stop borrowing, just as the lawmaker called for the lift of the embargo on employment.

Oke, the Chairman House Committee on Public Accounts, advised Buhari to improve on accountability and transparency amid Nigeria’s increasing debt profile rather than borrowing, noted that the continued resort to external borrowing at the slightest challenge was creating problems for the country’s future.

Oke stated this at a special Convocation ceremony of Joseph Ayo Babalola University (JABU) Ikeji Arakeji, during the Investiture of the Visitor and the Conferment of Honorary Degree on him by the university, said Buhari to invest in human capital and aim to create enabling environment for investments.

The lawmaker also advised President Buhari to seek the assistance of economic advisors, saying this is responsible for policies somersault, saying Nigeria would continue to witness underdevelopment in all sectors if the problems of policies somersault were not properly addressed.

He said these advisors will advise the President on economic policy matters, including fiscal analysis, economic growth and a range of internal and global economic issues.

He said “The challenge before this country is because of economy policies somersault and I want to enjoin the government of President Muhammadu Buhari to engage a seasoned economist in his government because i have not seen a single economist in this government and that’s why we continue to have problem bordering on revenue leakages, the revenue is there, but we continue to be borrowing.

“There is nothing bad in borrowing but when you borrow,  you should do something with the money, something tangible, capital projects that will repay borrowed money not borrowing money to pay salaries of workers, not borrowing money for going to seminars.

“There are some laws that the federal government and parliament must work on, we need to look at our tax principles, the operation of oil and gas-rich zones, the operation of Nigeria Export Promotion in the desert and know what is happening there, because these foreign companies and some locals are exploiting these laws because they are open-ended to avoid and evade tax.

The difference between tax avoidance and evasion is so thin that the extent to look at it critically if you’re unable to differentiate tax evasion and avoidance particularly when companies deplore transfer pricing principles.

“So government need to really get down to work, motivate workers, workers that work with FIRS, ensure that they are upright, pay them their wage so that they can collect the revenue collectable, so when we get these revenues there won’t be policy somersault in education, economy and other sectors.”

Oke, however, appealed to President Buhari to

and the Federal Government to lift the embargo on employment into Federal Ministries, departments, and agencies, noting that the embargo was due to the devastating effects of the COVID-19 pandemic and fall in global oil prices.

According to him, Nigeria is facing several challenges because of youth unemployment urging the government to look inward on how to tackle these problems.

“Mr President laid an embargo on employment except in paramilitary to fight insurgency and off course in the medical line because of the Covid-19 pandemic. But I want to use this medium to appeal to Mr President to immediately lift the embargo on employment in our various tertiary institutions.

He disclosed that “I promoted a bill for us to have a College of Agriculture in Ijebu Jesa, and I am very happy to inform you that the bill was considered last week at the House of Representatives.

“The House Committee on Tertiary Education brought the report, approving the Federal College of Agriculture at Ijebu-Jesa. I also made provision in the 2021 financial budget for the Agriculturist Research Council of Nigeria to commence work at the site in Ijebu Jesa.

“Similarly, I also want to urge Mr President to please revisit the Armed Forces Games Village and Armed Forces Physical Training Institute in Esa Oke.

“We have money in 2021 budget but that money we have there is nothing to write home about and I want to plead that Mr President should look into this so that we can use that institution to also checkmate the insecurity in our domain.

“I want the governor of Osun State, my leader, Gboyega Oyetola, to collaborate with the federal government in this area. He can finish the project and later collect his money from the Federal Government  as they do on roads.”

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