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Debt is worse than leprosy - Obasanjo tackles Tinubu over borrowing comment

Debt is worse than leprosy - Obasanjo tackles Tinubu over borrowing comment
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Verified Synthesis~28s read
Borrowing is not leprosy, we just have to work hard to be able to pay for it," Tinubu had said during a meeting with Plateau leaders led by Governor Caleb Mutfwang and APC National Chairman, Prof. Nentawe Yilwatda, at the State House.His remarks came amid rising public concern over Nigeria's growing debt burden and the increasing share of national revenue committed to debt servicing.Reacting at the Ajibosin Platform, Obasanjo said: "And for anybody to say debt is no leprosy, is absolute nonsense. Former President Olusegun Obasanjo has tackled President Bola Tinubu over his comment that borrowing is not leprosy, saying debt is worse than leprosy because it destroys generations.Obasanjo spoke on Friday in Abeokuta, Ogun State, at the Ajibosin Platform, a public forum themed "Leveraging Artificial Intelligence to Solve Grassroots Problems and Accelerate National Development."Tinubu had in April said his administration will continue to borrow whenever necessary, insisting it should not be viewed negatively."If we have to borrow, we borrow.
Context & Background
  • ✦What has Nigeria done in 47 years that we now have 1,500 naira to the dollar?
Key Figures & Named Entities
Friday:Former President Olusegun Obasanjo has tackled President Bola Tinubu over his comment that borrowing is not leprosy, saying debt is worse than leprosy because it destroys generations.Obasanjo spoke on Friday in Abeokuta, Ogun State, at the Ajibosin Platform, a public forum themed "Leveraging Artificial Intelligence to Solve Grassroots Problems and Accelerate National Development."Tinubu had in April said his administration will continue to borrow whenever necessary, insisting it should not be viewed negatively."If we have to borrow, we borrow.$1.85,:Debt destroys generations."The former president recalled that when he started his farm 47 years ago, the naira exchanged at N1 to $1.85, questioning what the country had done to now have N1,500 to a dollar."When I started my farm, 47 years ago, naira to the dollar was one naira to $1.85.
Outlook & Next Steps
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Key Takeaways
Verified Extract
  • ✦Borrowing is not leprosy, we just have to work hard to be able to pay for it," Tinubu had said during a meeting with Plateau leaders led by Governor Caleb Mutfwang and APC National Chairman, Prof. Nentawe Yilwatda, at the State House.His remarks came amid rising public concern over Nigeria's growing debt burden and the increasing share of national revenue committed to debt servicing.Reacting at the Ajibosin Platform, Obasanjo said: "And for anybody to say debt is no leprosy, is absolute nonsense.
  • ✦Former President Olusegun Obasanjo has tackled President Bola Tinubu over his comment that borrowing is not leprosy, saying debt is worse than leprosy because it destroys generations.Obasanjo spoke on Friday in Abeokuta, Ogun State, at the Ajibosin Platform, a public forum themed "Leveraging Artificial Intelligence to Solve Grassroots Problems and Accelerate National Development."Tinubu had in April said his administration will continue to borrow whenever necessary, insisting it should not be viewed negatively."If we have to borrow, we borrow.
  • ✦What has Nigeria done in 47 years that we now have 1,500 naira to the dollar?
Key Facts:Friday: Former President Olusegun Obasanjo has tackled President Bola Tinubu over his comment that borrowing is not leprosy, saying debt is worse than leprosy because it destroys generations.Obasanjo spoke on Friday in Abeokuta, Ogun State, at the Ajibosin Platform, a public forum themed "Leveraging Artificial Intelligence to Solve Grassroots Problems and Accelerate National Development."Tinubu had in April said his administration will continue to borrow whenever necessary, insisting it should not be viewed negatively."If we have to borrow, we borrow.$1.85,: Debt destroys generations."The former president recalled that when he started his farm 47 years ago, the naira exchanged at N1 to $1.85, questioning what the country had done to now have N1,500 to a dollar."When I started my farm, 47 years ago, naira to the dollar was one naira to $1.85.
Editorial Excerpt

Former President Olusegun Obasanjo has tackled President Bola Tinubu over his comment that borrowing is not leprosy, saying debt is worse than leprosy because it destroys generations.Obasanjo spoke on Friday in Abeokuta, Ogun State, at the Ajibosin Platform, a public forum themed "Leveraging...

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What is the latest development regarding All Progressives Congress?

Borrowing is not leprosy, we just have to work hard to be able to pay for it," Tinubu had said during a meeting with Plateau leaders led by Governor Caleb Mutfwang and APC National Chairman, Prof. Nentawe Yilwatda, at the State House.His remarks came amid rising public concern over Nigeria's growing debt burden and the increasing share of national revenue committed to debt servicing.Reacting at the Ajibosin Platform, Obasanjo said: "And for anybody to say debt is no leprosy, is absolute nonsense.

Who are the key organizations or public figures mentioned?

Former President Olusegun Obasanjo has tackled President Bola Tinubu over his comment that borrowing is not leprosy, saying debt is worse than leprosy because it destroys generations.Obasanjo spoke on Friday in Abeokuta, Ogun State, at the Ajibosin Platform, a public forum themed "Leveraging Artificial Intelligence to Solve Grassroots Problems and Accelerate National Development."Tinubu had in April said his administration will continue to borrow whenever necessary, insisting it should not be viewed negatively."If we have to borrow, we borrow.

What timeline or key figures were confirmed?

Former President Olusegun Obasanjo has tackled President Bola Tinubu over his comment that borrowing is not leprosy, saying debt is worse than leprosy because it destroys generations.Obasanjo spoke on Friday in Abeokuta, Ogun State, at the Ajibosin Platform, a public forum themed "Leveraging Artificial Intelligence to Solve Grassroots Problems and Accelerate National Development."Tinubu had in April said his administration will continue to borrow whenever necessary, insisting it should not be viewed negatively."If we have to borrow, we borrow.

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