A former vice presidential candidate of the Peoples Democratic Party (PDP), Peter Obi says Nigerians are getting poorer because the government is borrowing for the wrong reasons.
Mr Obi, argued that while it is not a crime to borrow money, the funds must be used solely for productions that enhance the lives of the citizens and enrich the economy.
“Are you borrowing for productivity or are you borrowing for consumption? My worry here is that we are borrowing for consumption.
“I am saying that the country is not productive and there is nothing wrong in borrowing; if you are borrowing, then it shouldn’t be for consumption and that’s why more and more people are getting poorer,” he asserted.
According to the former Anambra State governor, the nation’s Gross Domestic Product (GDP) cannot be growing while the people are getting poorer.
He believes the growth Nigeria needs is one which “pulls people out of poverty by making the people have disposable income and be able to feed themselves”.
Mr Obi further added that the nation needs the kind of growth that will educate the children and provide primary health care for all communities.
“These are critical areas we want to go into,” the statesman stressed, noting that Nigeria must do away with speculative growth that is given media hype without positively affecting the masses.