No justification for fresh borrowing amid revenue gains — Umeh.
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…Says past loans failed to ease hardship …2026 capital budget yet to be implemented …Rising fuel prices show loans haven’t eased hardship …No work on Eastern Rail Line despite $3bn loan approval By Juliet Umeh Senator Victor Umeh has questioned the Federal Government’s request for fresh loans, saying there is no justification for further borrowing when the government says it has surpassed its revenue targets.
Umeh, who represents Anambra Central, spoke on Channels Television’s programme, where he reacted to the President’s request for approval of additional external borrowing.
He said the government should account for previous loans and show their impact on Nigerians’ lives. “From what they have told us, there is no justification for the borrowing. Since you have surpassed your revenue expectations, there is no need taking the country into a circus around borrowing all the time,” he said. Umeh said previous loans had been presented as funding for infrastructure, but Nigerians were yet to see the results.
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