The Minister of Labour and Employment, Chris Ngige, on Friday, stated that the presidency is borrowing funds from other countries because the Peoples Democratic Party (PDP) looted the treasury and failed to save during their time in government.
Speaking at a program organised by the National Directorate of Employment (NDE) in Amawbia, Awka South Local Government Area of Anambra State, the Minister stated that the borrowed funds would be used for infrastructural development.
“This is because the Peoples Democratic Party, for 16 years, looted the nation’s treasury and pauperised Nigerians. The PDP during the oil windfall did not bother to save any kobo for this country. All (the money) they got, they squandered. That is why Nigerians are pauperised this way today.”
“Whatever money we borrow today is not going to be used for recurrent expenditure. It is going to be invested in railroads, power, roads, providing infrastructure for agriculture and solid minerals. Won’t you want to see the construction of the Onitsha-Enugu Expressway?”
Ngige further justified the loans, saying that “the only option under the circumstance is to look for loans to give Nigerians good governance because Section 14 of our Constitution says the security and welfare of the people shall be the primary purpose of government.”
On the area of job creation, the minister said: “In the next two months, the second phase of this exercise would have been carried out and I want to assure you that over 2, 800 new businesses would have been generated across the country through the ‘Resettlement Scheme’ of the NDE.”
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