{"id":402662,"date":"2021-10-09T20:21:22","date_gmt":"2021-10-09T19:21:22","guid":{"rendered":"https:\/\/arewa.ng\/?p=402662"},"modified":"2021-10-09T20:33:22","modified_gmt":"2021-10-09T19:33:22","slug":"prp-frowns-at-nigerias-continuous-borrowing","status":"publish","type":"post","link":"https:\/\/arewa.ng\/?p=402662","title":{"rendered":"PRP frowns at Nigeria\u2019s continuous borrowing"},"content":{"rendered":"
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\"Nigeria<\/p>\n<\/figure>\n

The Peoples Redemption Party on Saturday in Abuja frowned at continuous borrowing by the Federal Government to fund national budgets.<\/p>\n

National Chairman of the party, Mr Falalu Bello, told newsmen that it is wrong for any nation which spends a larger percentage of its revenue on debt servicing to borrow further.<\/p>\n

\u201cAny individual who does that will be said to be heading for bankruptcy. This means a country will have no means of financing growth and development of the economy with almost certainty of social malaise.<\/p>\n

\u201cContinuous borrowing in the face of reduction in revenue is wrong and akin to mortgaging the Nigerian future and taking the nation into servitude.<\/p>\n

\u201cThe Nigerian government is currently faced with a lot of problems from both the economic and social perspectives.<\/p>\n

\u201cA persistent double digit inflation rate which continuously lowers the purchasing power of the population and a 45 per cent youth unemployment rate are ominous signs,\u2019\u2019 he said.<\/p>\n

Falalu said to tackle the problems, government should look for alternative means of generating more revenue.<\/p>\n

The party chairman suggested diversification of the economy through non-oil revenue sources.<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Peoples Redemption Party on Saturday in Abuja frowned at continuous borrowing by the Federal Government to fund national budgets. National Chairman of the party, Mr Falalu Bello, told newsmen that it is wrong for any nation which spends a larger percentage of its revenue on debt servicing to borrow further. \u201cAny individual who does […]<\/p>\n","protected":false},"author":1,"featured_media":399121,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3],"tags":[29,64],"class_list":["post-402662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-apc","tag-prp"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/posts\/402662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=402662"}],"version-history":[{"count":0,"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/posts\/402662\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/media\/399121"}],"wp:attachment":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=402662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=402662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=402662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}