Major General Muhammadu Buhari led regime has reapplied for the Senate approval of a $30 billion loan which was allegedly rejected by the 8th Senate under Senator Bukola Saraki led Senate presidency.Dr Olumakaiye in his Christmas yesterday said the increasing debt burden is a source of concern. He however hailed the stabilization in the foreign exchange market in the last one year.
He said: “Recently however, there has been some concern over inordinate spending, the national debt burden and depleting forex reserves especially in the second half of 2019.
“Economists are positing that this portends a further depletion of our currency, worsening economy and impending hardship.
Again we implore our leaders to avoid plunging the nation into any undue economic bondage.” The Bishop commended the strides recorded in the transportation sector with the ongoing railway modernization.
He called for prayers on Nigerian leaders, saying leadership is critical to the progress of the nation. “Our leaders need more prayers, leadership is a critical factor to a nation’s progress but it has pre-loaded inputs.
“Competence, savvy, dexterity and intelligence are key but so also is integrity and fairness. These are qualities sorely lacking in our time.
A familiar phrase has been, ‘when the desirable is not available, the available becomes the desirable,” he posited.
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