$5.5 Billion Loan: as Buhari mortgage our unborn children
The people’s
democratic party PDP receive the shock of their lives as the present Government
of Muhammadu Buhari is planning to Mortgage the country with a $5.5 Billion
debt
2. Like other well meaning Nigerians, we consider this new bid for
a foreign loan of $5.5 billion being sought by the Administration of President
Buhari as an attempt to push the Nation down into the black hole of debt that
will affect negatively, the Future of this Nation.
4. For emphasis, we are dismayed at the
rate by which the APC is plunging the Nation into debt through local and
foreign borrowing without concomitant developmental projects in any sphere of
the Nation's Economy to justify the Huge Borrowing.
5. The Figure released recently by the
Debt Management Office (DMO) stating that the Nation under the Administration
of the APC Government in the last two years of being in office, has borrowed
N7.51 trillion. It is mind-boggling.
6. Mind boggling because all round
infrastructural decay has now reached alarming proportions. The roads have
deteriorated, the state of power supply has become worse, and there is no
increase in wages to match the skyrocketing inflation . As a result, workers in
educational institutions and other government agencies have spent more time at
home observing strike action than they spent at work; insecurity has
sky-rocketted beyond what anyone can imagine, while those in power continue to
delude themselves that they are providing plausible leadership for the Country.
7. We are constrained to ask the
Government of President Muhammadu Buhari to explain to Nigerians what his
government has done with the several huge sums borrowed in the last two years
in the name of financing infrastructural development in the Country.
8. The data shows that since President
Buhari was sworn-in, the Nation's Debt has risen by 61.96% in only two years.
9. As major stakeholders in the
Nigerian Project, we are worried that if the National Assembly does not stop
this latest demand for foreign loan, the Money when released, will go the way
of other loans obtained in the last two years without any tangible result to
show for it.
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