To avert sliding into further recession, Nigeria must stop borrowing – Atiku

By our reporter| Former vice-president Atiku Abubakar on Sunday advised the government of President Muhammadu Buhari to stop borrowing if the country is to avert sliding into a further recession.

The presidential flag bearer of the opposition Peoples Democratic Party, in a series of posts via his verified his official Twitter handle, titled ‘We Must Exit This Recession With Precision,’ said it is a very heavy heart that he received the news which confirms that for the second time in five years.

According to the former Vice President, the nation must stop borrowing for anything other than essential needs adding that, the more the country keeps borrowing, the more it stands the risk of defaulting.

He also called on President Muhammadu Buhari to heed to the patriotic counsel given by himself and other well-meaning Nigerians on cutting the cost of governance

The tweet read, “The more we borrow, the more we will need cash to make interest and principal payments, and the less cash we will have to make necessary investments in our economy and our people.

“If we keep borrowing, we stand the risk of defaulting, and that will make recession a child’s play because we will lose some of our sovereignty.”