The presidential candidate of the Labour Party (LP), Mr Peter Obi has said that nothing is wrong with borrowing if it is invested properly.
The LP flag bearer noted that every nation in the world borrowed but the problem was because Nigeria borrowed for consumption, not for production.
The former governor of Anambra State made the denial on Monday in Lagos State during an interactive session with the Nigerian Guild of Editors (NGE).
Obi, who also said that nobody was funding his campaigns, added that he had never paid anyone to work for him.
According to Obi, the 2023 general elections is an existential exercise for the country and should not be about ethnic or religious sentiment, pointing out that Nigeria would not make progress until the people begin to elect competent leaders.
While assuring that he was committed to serve Nigerians better if elected, he insisted that the 2023 general elections must be based on character, competence, capacity and ability or commitment to start doing the right thing.
Obi pointed out that the demand for Nigeria’s presidential seat was difficult as it required huge mental and physical energy, therefore, “Let nobody say we are going to manage someone who will surround himself with people that will mismanage our resources again.”
He said that if elected in 2023, he would ensure that Nigeria harnessed its natural resources, especially land, which according to him, had the capacity to feed the country.
Obi said that the “Next year’s election will not be about the tribe. Please do not vote for Peter Obi because he is from the South-East. It is not going to be my turn but the turn of Nigeria to take back their country.
“It is not about tribe because the people in the South do not buy bread cheaper or show me where in the South-West where they have uninterrupted electricity supply or roads that are meant for South-West people only.
“Since I came to Lagos, they have been constructing Lagos- Ibadan Expressway and it has not been completed. So, it is not about the tribe. The North is more insecure than the South, so it has nothing to do with the tribe.
“We are looking for people who will not steal our money. So, you need to examine all of us and know who to trust based on character, integrity and competence. Next year’s election will be based on character, competence, capacity and ability or commitment to start doing the right thing and I assure you that I’m committed to it.”
Speaking on Nigerian debt, he said, “Nothing is wrong with borrowing if invested properly. Every nation in the world that I have studied borrows. The problem with borrowing is what you do with the money. It’s okay to borrow for production but there’s a problem when you borrow for consumption.
“I will only borrow for production and I will explain to Nigerians why I’m borrowing. I must talk to the people because the job of a leader is to communicate with the people.”