$29.96b Loan: Don’t Support Buhari, Fayose Urges Saraki
Governor Ayodele Fayose of Ekiti State does not want the Senate to back the Federal Government plan to obtain a $29.96 billion foreign loan.
Fayose made the call in a statement issued by his Special Assistant on Public Communications and New Media, Lere Olayinka.
The governor specifically called on the Senate President Bukola Saraki to shun the request. He stated that he feared the loan would further ruin the country’s economy.
$29.96 loan has no economic sense – Fayose
Governor Fayose wondered why the Federal Government wants to borrow such an amount. He said it would be difficult to pay back as the country’s income has significantly dropped.
“What is the economic sense in taking over N12 trillion loan to spend more money during the economic recession? How can a nation be proposing to spend more money when its income has reduced considerably?
“Yes, it is argued that nations in recession must spend to get out of it. But in the case of Nigeria, how do we pay back when as at today, 30 per cent of our income is being used to service debt?”
“When the Senate unanimously threw out President Muhammadu Buhari’s request for the loan, many Nigerians heaved a sigh of relief.
Alleges alliance between Saraki and presidency
“However, unfolding events in the last few days suggest a dangerous alliance between the presidency and the Senate President to ensure the approval of the loan at all cost.
“Feelers getting to the public suggest that the ongoing Code of Conduct Tribunal trial of Saraki is being used as blackmail to get him to back the $29.96 billion loan.
“Instead of collaborating with the presidency to plunge Nigerians into the bondage of debt, Saraki should pitch his tent with the masses,” the statement reads.
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