The Majority Leader of the House of Representatives, Mr. Femi Gbajabiamila on Sunday said Nigeria cannot fund its 2017 budget except from an external loan.
Mr. Femi Gbajabiamila speaking on the activities of the legislature in the last 12 months said the country has to spend huge amount of money on the economy and invest heavily in infrastructure to exit recession.
He said loans from within and outside the country have to be sourced as Nigeria is currently experiencing scarcity of resources.
He said, “Nigeria can’t do without borrowing, especially when you run a deficit budget.
“There is a lot we need money to spend on, but we are not making the money as before.
“The oil we rely on, has gone down. We must now go out and borrow.”