Former Deputy Governor of the Central Bank of Nigeria, CBN, Kingsley Moghalu has kicked against the Federal Government’s plan to borrow from the World Bank.
It was reported that the Federal Government was engaging the World Bank on a fresh $1.5 billion loan.
The objective of the loan is to strengthen systems for improved delivery of basic education and primary health services in participating states.
Reacting, Moghalu via X said Nigeria is becoming a carcass, “and our political class its scavengers.”
“There is a real problem when Nigeria is set to borrow another $1.5 billion from @WorldBank for budget support, and SUVs worth N160 million each are reportedly to be bought for 360 members of the House of Representatives. We are not yet serious as a country.
“Nigeria is becoming a carcass, and our political class its scavengers,” he wrote.
Moghalu added that:
“If I were President of Nigeria or Governor of a State, no government official will drive a foreign made vehicle at government expense (procurement) when we have local alternatives. That is one demonstration of patriotic leadership and commitment to cutting the cost of governance.”