What Nigeria Should Do With Foreign Loans - Peter Obi
President Muhammadu Buhari (image courtesy Presidency)

A former governor of Anambra State Peter Obi has urged the federal government to use foreign loans to build tangible projects.

Nigeria’s foreign debts recently hit $22bn, according to the National Bureau of Statistics with the federal government saying it is borrowing to fund capital projects.

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However, Obi has faulted the federal government over the usage of the loans, claiming that there are no projects to show for Nigeria’s borrowings.

According to him, the President Muhammadu Buhari government must ensure it uses the loans to erect infrastructure that would better the lots of Nigerians.

He told Channels TV on Monday that it is not wrong to borrow but such money much be plugged into investments that would yield maximum impact on the masses.