A group known as the Atiku Abubakar’s Support Organisation on Monday condemned the recent move by President Muhammadu Buhari to get a fresh foreign loan.
The group in a statement issued by its National Publicity Secretary, Dr. EL Mo Victor, described the move as “reckless,” and asked the Senate to reject the President’s request.
Buhari had on September 14 requested the Senate’s approval for $4,054,476,863 billion and €710 million from multilateral agencies to fund critical projects and programmes across the country.
The statement read: “It is public knowledge that since its assumption into office in 2015, the APC/Buhari government in just six years and with no end in sight, has accumulated a humongous debt burden of over N26 trillion with nothing on the ground to show for it and no accountability whatsoever on how the debt incurred so far was spent.
“To send another request to the Senate for approval to borrow more money even when over 98 percent of our revenue is used to service the already incurred debt is an act of national recklessness and should not be allowed to continue.
“All Nigerians including the future generations will pay dearly for the recklessness of this government if we all do not wake up to stop them. The APC/Buhari government is only borrowing to service corruption and avarice, create opportunities for the continued pillaging of our common resources and then transfer the burden to the young ones and the next generation.
“We demand the National Assembly outright rejection of President Buhari’s fresh loan request of $4bn and €710 for whatsoever camouflaged justification to put an end to the irresponsible borrowing for the sake of posterity otherwise, calamity lies ahead. The Senate should insist instead on accountability and demand a clear explanation with proof on how previous loans were expended.”
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