• News
  • Business
  • National
  • Politics
  • Opinion
  • Tech
  • Gist & Jabs
  • Lifestyle
  • Entertainment
  • Health
  • Travel
Saturday, September 23, 2023
The Gist Day
No Result
View All Result
  • Login
  • News
    • All
    • National
    US Judge adjourns Chicago University records case till Monday following Tinubu’s appeal

    US Judge adjourns Chicago University records case till Monday following Tinubu’s appeal

    Mohbad: Why we used tear gas to disperse mourners – Lagos Police

    Mohbad: Why we used tear gas to disperse mourners – Lagos Police

    PPPRA Review Petrol Price

    Edo: Fuel scarcity looms as marketers threaten strike over bad roads

    Imo Government Pledges Increased Support For Women Entrepreneurs.

    FG mourns slain security personnel, vows to arrest perpetrators

    Benue task force arrests nine suspected illegal tax collectors

    Benue task force arrests nine suspected illegal tax collectors

    2023 Elections: Tinubu Promises To Improve Nigeria’s Education Sector

    NASDAQ: Tinubu 1st African President to ring closing bell

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
  • Business
  • National
  • Politics
  • Opinion
  • Tech
  • Gist & Jabs
  • Lifestyle
  • Entertainment
  • Health
  • Travel
  • News
    • All
    • National
    US Judge adjourns Chicago University records case till Monday following Tinubu’s appeal

    US Judge adjourns Chicago University records case till Monday following Tinubu’s appeal

    Mohbad: Why we used tear gas to disperse mourners – Lagos Police

    Mohbad: Why we used tear gas to disperse mourners – Lagos Police

    PPPRA Review Petrol Price

    Edo: Fuel scarcity looms as marketers threaten strike over bad roads

    Imo Government Pledges Increased Support For Women Entrepreneurs.

    FG mourns slain security personnel, vows to arrest perpetrators

    Benue task force arrests nine suspected illegal tax collectors

    Benue task force arrests nine suspected illegal tax collectors

    2023 Elections: Tinubu Promises To Improve Nigeria’s Education Sector

    NASDAQ: Tinubu 1st African President to ring closing bell

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
  • Business
  • National
  • Politics
  • Opinion
  • Tech
  • Gist & Jabs
  • Lifestyle
  • Entertainment
  • Health
  • Travel
No Result
View All Result
Morning News
No Result
View All Result
Home Business

Recession: Borrowing Will Save Nigeria – Bamidele

Emmanuel Onminyi by Emmanuel Onminyi
March 10, 2020
in Business, National, News, Politics
0
Nigeria Recession Crude Oil
0
SHARES
27
VIEWS
Share on FacebookShare on Twitter

As the future of the Nigerian economy continues to look uncertain, the Chairman, Senate Committee on Judiciary, Human Rights and Legal Matters, Opeyemi Bamidele, has revealed that the approval given by the Senates to President Muhammadu Buhari to borrow $22.5bn is aimed at saving the country from sliding into another recession. READ ALSO: Crude Oil Prices: Nigeria May Enter Recession Again

READ ALSO

Acting CBN Governor Dr. Cardoso Assumes Office as Emefiele and Others Resign

US Judge adjourns Chicago University records case till Monday following Tinubu’s appeal

Speaking at Iyin Ekiti in Irepodun/Ifelodun Local Government Area of Ekiti State during a programme organised by the Minister of Industry, Trade and Investment, Chief Niyi Adebayo, to mark his appointment as minister, the lawmaker posited that Nigerians should see the loan as a welcome development and a way to keep Nigeria’s economy soaring.

Bamidele 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.”

Further disclosing the plans of the government, the Senator stated: “The legislative and the executive arms are working towards the same goal. It is for the development of our nation. The planners of economy knew that our budget must be well funded because we have to keep spending on infrastructure to avert recession.

“The 2020 budget estimate of the Federal Government is high and the government must ensure that it is made implementable through proper funding and the loan will help in making the funds available.

“It is important that we set a template for proper funding of the budget. But we are assuring Nigerians that the Senate won’t allow corruption under any guise. We are going to put proper legislation in place to stop pilfering of our money.

“In a democracy, criticism is normal, but our people should be more concerned about ensuring that the loan is well appropriated for the projects that will create wealth and lift our economy. I am sure that President Buhari won’t fail in this aspect.”

Bamidele who seized the occasion to praise Adeniyi for his quest for development and uplifting the populace, appealed to the minister to concentrate on the growth of the small and medium scale enterprises in Ekiti State, while also using his office to bring dividends of democracy to the state.

Nigeria is currently faced with the possibility of entering her second recession in four years. This follows the recent slump in the price of crude oil at the international market and the government’s inability to diversify the economy.

Tags: Crude OilNigeriaPresident Muhammadu BuhariRecessionSenate

Related Posts

Acting CBN Governor Dr. Cardoso Assumes Office as Emefiele and Others Resign
Business

Acting CBN Governor Dr. Cardoso Assumes Office as Emefiele and Others Resign

September 22, 2023
US Judge adjourns Chicago University records case till Monday following Tinubu’s appeal
National

US Judge adjourns Chicago University records case till Monday following Tinubu’s appeal

September 22, 2023
Mohbad: Why we used tear gas to disperse mourners – Lagos Police
National

Mohbad: Why we used tear gas to disperse mourners – Lagos Police

September 22, 2023
PPPRA Review Petrol Price
News

Edo: Fuel scarcity looms as marketers threaten strike over bad roads

September 22, 2023
Imo Government Pledges Increased Support For Women Entrepreneurs.
News

FG mourns slain security personnel, vows to arrest perpetrators

September 22, 2023
Obaseki Dissolves Deputy Governor’s Media Team
Politics

‘I’m sorry, please forgive me’, Shaibu begs Obaseki

September 22, 2023
Glo

glo
app




Categories

  • A Call to Prayer
  • Agriculture
  • Appointments
  • Business
  • Celebrities
  • Coronavirus
  • Corporate Amazon
  • Economy
  • Education
  • Entertainment
  • Environment
  • Fashion
  • Financial Literacy
  • From the Kaaba
  • From the Pulpit
  • Gist & Jabs
  • Health
  • Jobmart
  • Lifestyle
  • Living
  • Metro Gist
  • National
  • News
  • Op-Ed
  • Opinion
  • Politics
  • Presidency
  • Press Release
  • Religion
  • Sport
  • State News
  • Tech
  • Tourism
  • Travel
  • Uncategorized
  • World News

Recent Posts

  • Acting CBN Governor Dr. Cardoso Assumes Office as Emefiele and Others Resign
  • “Mohbad wrote 97% percent of all marlian music” Journalist Kemi Okunloyo makes a surprising revelation
  • Tems reacts amid pregnancy speculations
  • US Judge adjourns Chicago University records case till Monday following Tinubu’s appeal
  • Disclaimer
  • Google Adsense
  • Home 2
  • Ikoyi building collapse: Corper who redeployed from Borno to Lagos, confirmed dead
  • Leaked Conversation: There Will Know Peace Until Hope Uzodimma Leaves Government House – Emeka Ihedioha
  • MAN Condemns Invasion Of Dangote Cement Plant By Kogi State Govt
  • Privacy Policy
  • Sample Page
  • TheGistDay
  • Whitemoney And New Lady Spotted Stepping Out Of Hotel Together (Video)

© 2023 TheGistDay.

No Result
View All Result
  • News
  • Business
  • National
  • Politics
  • Opinion
  • Tech
  • Gist & Jabs
  • Lifestyle
  • Entertainment
  • Health
  • Travel

© 2023 TheGistDay.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In