Stakeholders, including economists and analysts have disagreed with senate present, Ahmad Lawan in his claim that Nigeria is poor.
According to them what the country needs now is serious economic management, prudency in economic management, blocking loopholes and diversification of the economy, among others.
Claiming that the country is poor, Lawan said the only way out is responsible borrowing to fund infrastructure.
Senator Lawan added, “Our options are really very limited as a country. First, we do not have the necessary revenue; Nigeria is poor, we should not deceive ourselves.
Nigeria is not rich given the circumstances we live in, given the challenges we have.
“Our resources are so low, our revenues are so low; therefore, the option of not doing anything just to sit (because we have no money, we should not go for infrastructure development) is not an option worthy of consideration. You cannot keep the economy stagnant.”
He gave the assurance that the National Assembly would give legislative approval to the Executive loan request to fund the 2021 Appropriation Act before it embarked on a recess in July.
Marcel Okeke, an economist, reacting to Lawan’s statement on Sunrise program on channels television on Friday said:
“I want to disagree with the Senate president on his claim that Nigeria is poor.
“The only option for Nigeria should not be only borrowing, but effective management of resources, economic planning, diversification of economy.”
According to Okeke, if Lawan is talking about responsible borrowing, how about responsible management of the funds, how about the quality of infrastructure.
He said, except for the Gross Domestic Product per capita, all other indices, like Nigeria being the largest economy in Africa, natural endowment of resources, are looking good, but that our resources by successive governments have been mismanaged.
Friday Ameh, energy analyst has this to say:
“when and how has infrastructure financing become the major preoccupation of Nigeria and how are we sure the work currently being done is of quality? How are we going to have return on investment more so with questionable projects being located at questionable places too.?“
Another Stakeholder who pleaded anonimity rhetorically asks, “If Nigeria is indeed poor as claimed by SP, why are they still maintaining the retinue of aides and as well approving establishments of new federal institutions,? Is either the man is playing to gallary or just saying this having earned the rightful name of ‘rubber stamp’ for the nineth National Assembly.
“A ccountry is poor and its president travels at least two to three times yearly for medical check up; None of the political appointees including members of the legislature have deemed it necessary to cut salaries, what kind of a country is this and the number three person is telling us he supports responsible borrowing. How does he define responsibility without accountability. It’s all politics,“.