$22.5bn loan to prevent recession – Bamidele

Posted on Mar 10, 2020

The Chairman, Senate Committee on Judiciary, Human Rights and Legal Matters, Opeyemi Bamidele, has said that the approval given by the Senate to the President, Major General Muhammadu Buhari (retd.), to borrow $22.5bn was to save the country from sliding into another recession.

Opeyemi said, “The step we took was to avert economic recession. To prevent such, government would have to build infrastructure like roads, rail lines, create wealth, provide employments and carry out other social services to help the people.”

The senator, who spoke at Iyin Ekiti in the Irepodun/Ifelodun Local Government Area of Ekiti State on Monday during a programme organised by the Minister of Industry, Trade and Investment, Chief Niyi Adebayo, to mark his appointment as minister. He said Nigerians should see the loan as “a welcome development and a way to keep our economy soaring.”