The former governor of Anambra State lamented on Twitter on Thursday that states that received bailouts did not pay back the loans.

However, he suggested that government borrowings be limited to the statutory 5% of revenue from the previous year.

He wrote, “As a matter of urgency, Nigeria must stop borrowing for consumption, but only borrow to invest in regenerative development projects and other productive ventures.

It’s ironic that states that received financial bailouts did not pay back the loans and are currently borrowing more than they can pay.
“Also, it has become imperative to restrict federal borrowings to the statutory five percent of the previous year’s revenue.”

A few days ago, the presidential candidate blamed the instability of the naira on “distortions in the economy and fiscal policies,” adding that “the plummeting exchange rate is worrisome.”

“The Fiscal Managers should come up with a policy line or modality for arresting the value drift and restoring confidence in the National currency. Also, denominating domestic transactions and contracts in foreign currency should be stopped forthwith,” he added.

Also on Thursday, it was stated that when given the opportunity, Nigerian youths will transform the nation and bring back its squandered glory.

Obi claimed that he and his running mate, Senator Yusuf Baba-Ahmad, are in the race for president on behalf of Nigeria’s youth, who have long been neglected and disregarded to the detriment of society.

At a conference on Thursday at the International Conference Centre in Abuja, Obi said that every portion of Nigeria, even the Sambisa forest, has untapped agricultural land just waiting to be harnessed.