‘Absolute nonsense’- Obasanjo tackles President Tinubu over borrowing

Former President Olusegun Obasanjo has faulted President Tinubu over his remark that borrowing is not leprosy, describing the statement as “absolute nonsense”.

Obasanjo made the remark on Friday, October 30, while speaking at the Ajibosin Platform, a public forum held in Abeokuta, the Ogun State capital.

Recall that in April this year, President Tinubu defended his administration’s borrowing policy, saying the government would continue to take loans whenever necessary.

“If we have to borrow, we borrow. Borrowing is not leprosy; we just have to work hard to be able to pay for it,” the president had said.

In response, Obasanjo said debt was more damaging than leprosy because its consequences could affect generations.

“And for anybody to say debt is no leprosy is absolute nonsense. Debt is worse than leprosy. Because leprosy destroys only one person. Debt destroys generations,” the former president said

Obasanjo’s remarks come days after the President asked the national assembly to approve a supplementary external borrowing plan of $20.52 billion and €1.04 billion to finance projects and programmes across several sectors.