A former lawmaker, Shehu Sani has applauded the Federal Government over its decision to stop borrowing from local and foreign sources.
OsunDailyNG recalls that FG had announced that it had no intention to borrow from any local or foreign organisation with its removal of subsidy on petrol and exchange rate harmonisation.
The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, revealed this at the end of the inaugural Federal Executive Council meeting on Monday in Abuja.
He said that the benefit of the subsidy removal would be ploughed back into various sectors aimed at boosting government revenue and improving the business environment for local and foreign investment.
He reiterated the President Bola Tinubu-led administration’s desire to bring back the economy from the woods it has found itself over time.
Reacting to the development, Sani praised the government for its decision, adding that the next step is to figure out how to eradicate the existing debts from previous administrations.
According to Sani, “It’s relieving to hear from the Finance Minister that the FG has ended borrowing from both local and international sources.Now the task is how to get out of the pit of the debt left behind by the Buhari regime.”
