CONTRARY to insinuation in some quarters, President Goodluck Jonathan Government has said the Federal Government is not broke and that deregulation, which involves removal of petroleum subsidy, is to provide for the future generation of Nigerians.
According to the President, a responsible father must provide for the future of the children.
Jonathan said: “Every government borrows, but it must be sustainable. The rate at which we borrow is not sustainable; we cannot continue that way. If you continue to borrow, the foreign reserve will continue to go down and you cannot put enough money into the circulation.
”Deregulation will enable the private sector to invest in the downstream sector of the economy and many people will be employed.
”We need to provide the enabling infrastructure for the private sector to invest in the country and all these things cost money. The issue is not that the government is broke, but we just need to manage our economy well.
”Expect say that our oil reserve will dry up in the next 50 years. We must look for other option. We cannot continue to run on mono-economy. We must develop the agricultural sector. We believe that it is only the private sector that can invest to develop the downstream sector of the economy.”
