By Chioma Onuegbu, Uyo

Akwa Ibom elder and Pioneer National Publicity Secretary of the People’s Democratic Party, PDP, Senator Anietie Okon has condemned the excessive external borrowing by the President Muhammadu Buhari-led Federal government.

Okon spoke to Vanguard on Tuesday in Uyo, while reacting to the recent request of the Executive arm government to the Senate to approve two loans for it to construct and rehabilitate rail lines to different parts of the country as well as boost the economy.

He reiterated his call on the Federal government to restructure Nigeria which would allow states to explore and exploit resources in their territories and develop at their own pace.

He particularly frowned at a situation where the funds borrowed were used to finance white Elephant projects.

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His words, “States, regions should be allowed equal opportunities to explore and exploit resources in their territories, and by so doing they will be able to grow, develop at their own pace. And we can only achieve that through restructuring.

“Restructuring will end the situation where the Federal government appropriates more than enough to itself. Also, it will end spending the resources recklessly, and going to borrow to finance white elephant projects, and leaving states to scramble with insufficient resources.

“Nigeria is on the verge of going bankrupt and does not need to continue going to all the countries of the world, begging, borrowing loans. The debt profile incurred by this administration is worrisome, so we must not encourage more borrowing”.

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Senator Okon who was also a former Organising Secretary of the PDP and president of Akwa Ibom Leaders Vanguard hailed governors of his party for their prudence in the management of resources, which accounts for their development strides despite the worsened economic situation in the country in the past few years.

He especially congratulated Governor Nyesom Wike for his passion for changing the face of Rivers State for the better, stressing that the massive roads and flyovers he constructed as well as his effort in human capacity development would improve the quality of life of the people.

 “And I admire Wike’s tenacity, he has consistently shown his love, and respect for the people of Rivers State, and the people of Niger Delta as a whole. May his determination, doggedness, and brilliance not be eclipsed by forces of opposition and destruction in the country”, Senator Okon asserted.

Vanguard News Nigeria