No country borrows to fund a liability- Omojuwa to Lai Mohammed

Nigerian public speaker and political commentator, Japheth Omojuwa has expressed his displeasure with Lai Mohammed's decision to borrow $500 million to enable Nigerian Television Authority compete with the likes of Cable News Network.

In a series of tweets, the Media Entrepreneur launched an attack on the Minister telling him it was a wrong venture to consider.

"Nigeria intends to borrow to fund NTA. No smart country borrows to fund a liability. No politician who thinks in the interest of the people will burden them with such a commitment with no capacity for returns," he tweeted.

"Government officials must start to think of returns on spending. If you spend half a billion on NTA, you get more a digital version of today’s inefficiencies. A modernised disaster. #StopNTA500mDollars

"The Sovereign Wealth Fund could do a lot of investing with that money. #StopNTA500mDollars," he added.

Nigeria intends to borrow to fund NTA. No smart country borrows to fund a liability. No politician who thinks in the interest of the people will burden them with such a commitment with no capacity for returns #StopNTA500mDollars

— JJ. Omojuwa (@Omojuwa) February 10, 2020

Government officials must start to think of returns on spending. If you spend half a billion on NTA, you get more a digital version of today’s inefficiencies. A modernised disaster. #StopNTA500mDollars

— JJ. Omojuwa (@Omojuwa) February 10, 2020

Rather than waste the money without getting huge returns on investment, he advised Lai to consider upgrading Unity schools with N180b and see that several students across the continent will be willing to pay for it.

If you spend N180b on upgrading the Unity schools, you will attract top students from across the continent. They will be willing to pay for an education that’s worth it! #StopNTA500mDollars

— JJ. Omojuwa (@Omojuwa) February 10, 2020

Omojuwa concluded by saying NTA was not worth investing in. He tagged it a budget draining entity.

"There is nothing wrong with borrowing but there is everything wrong with borrowing to fund a liability. NTA isn’t run as a profitable enterprise, it is run as a budget draining entity. You don’t borrow for such!" he said.

There is nothing wrong with borrowing but there is everything wrong with borrowing to fund a liability. NTA isn’t run as a profitable enterprise, it is run as a budget draining entity. You don’t borrow for such! #StopNTA500mDollars

— JJ. Omojuwa (@Omojuwa) February 10, 2020