The former governor of Anambra state and Labour Party Presidential candidate, Peter Obi has lamented over the debt profile of Nigeria. He said that the country has borrowed a huge debt without any development, comparing the current regime with that of the rule of Sir Tafawa Balewa. Noting that the current debts of Nigeria can build 160 Kainji dams for the country.
The former governor laments through a post on his verified Twitter page, saying that Sir Tarawa Balewa borrowed $82 to build the Kainji dam 62 years ago and the country benefitted from it. Adding that since then the country’s debt profile has risen to a very high percentage. Revealing that as of September the country’s debt is about $44.06 trillion.
He suggested that Nigeria can turn into a country from consumption state to be producing country and through that people can pull out of poverty.
“Sir Tafawa Balewa borrowed $82m to build Kainji dam; 62 years later we still benefit from Kainji dam. Today, we owe a debt that could build 160 Kainji dams. But where are the dams? We have not invested in regenerative projects”
