Business Post Contributor
By Bliss Okperan
A former presidential candidate and founder of the All Progressives Grand Alliance (APGA), Mr Chekwas Okorie, has commended President Bola Tinubu for deciding to stop borrowing to finance the budget deficit, especially for projects across the country.
The immediate past President of Nigeria, Mr Muhammed Buhari, was known for his love for borrowing funds to fund national projects such as railways, roads and others despite criticisms from various quarters.
He left the nation with huge debts, at over N70 trillion, including Ways and Means of over N20 trillion.
However, the administration of Mr Tinubu has promised not to follow the path of his predecessor.
The Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun, while addressing journalists recently, said the federal government has no plan to borrow money from local or foreign organizations for national projects.
In an interview with The Guardian, Mr Okorie urged Nigerians to be optimistic about the President’s performance, and to look at his productivity within his 100 days in office, saying the decision to stop borrowing should be commended and sustained.
“It is reassuring that the President has committed to not borrowing any more to fund national projects,” the politician said.
He also appealed to Nigerians to give Mr Tinubu more time for his policies to mature, expressing optimism that Nigeria will be great again.
“Most of President Tinubu’s bold initiatives will mature into fruition and impact positively on the majority of the people over time,” he stated.
Mr Okorie disclosed that the actions of Mr Tinubu in the first 100 days in office have shown that he would be better than Mr Buhari.
“Given where we are coming from, I would rather make an objective appraisal of the Tinubu administration after his first year in office.
“He has effectively used his first 100 days in office to lay a solid foundation, set the stage, and point to the direction of what is to be expected.
“Such clarity of direction is what has been lacking in the past. This will help the private sector to plan their investment strategies without the fear of sudden and unexpected dislocations,” the APGA chieftain said.
