Arise News anchor, Rufai Oseni, has slammed the federal government over its continuous borrowing without proper cost benefit analysis.
Speaking on Arise Television’s ‘Morning Show’ on Friday, Rufai questioned why the federal government keeps taking loans without explaining to Nigerians how the loans will be repaid and what benefits they will bring.
According to him, no serious government takes loans without doing a proper cost benefit analysis to show whether the loan will benefit the people or become a burden.
"You don't just take loans without doing cost benefit analysis. What is the benefit of these loans to Nigerians? You must explain to us," Rufai said.
According to him, Nigerians are already suffering from hardship and the continued borrowing will only put more pressure on the economy if not properly checked.
This is coming following the fresh request by President Bola Tinubu to borrow another $20.5bn and €1.05bn.
Rufai's comment has triggered reactions on social media, with many Nigerians agreeing with him, while supporters of President Tinubu's government said the loans are necessary to fix the economy and fund infrastructure projects.
Meanwhile, President Tinubu has defended fresh borrowing plans by his administration, insisting that the investments will expand opportunities for future generations of Nigerians.
You don't do cost benefit analysis before taking loans – Rufai Oseni blasts Tinubu govt