Former Vice President, Atiku
Abubakar, has lambasted President Muhammadu Buhari and the All Progressives
Congress (APC) over repeated borrowings.
The Nigerian leader has sought
the National Assembly’s approval for a fresh loan of $5.513bn, reportedly to
fund the 2020 budget deficit, critical projects, and support some states.
The legislature recently approved
a N850billion loan. Another loan of $22.79bn, had previously been endorsed.
Atiku’s media office in a
statement on Sunday recalled that two months ago, Atiku called the attention of
Nigerians on the terms of those loans which could compromise the future of the
country.
It said the APC and the
government denied the allegations that he raised.
Atiku camp regretted that last
week, a cabinet minister confirmed their fears.
“Now, we all are aware that
Nigeria’s sovereignty may have been traded for foreign loans and God forbids
our inability to service those loans, the lender country would take ownership
of choice infrastructure on the Nigerian soil,” it said.
Atiku’s office recalled that
Nigeria had a total foreign debt stock of $7.02 billion on May 29, 2015.
It lamented that Nigeria’s
foreign debt is $23billion and rapidly rising.
Noting that debt, by itself, is
not a bad thing, the statement said the one budgeted for such unproductive
ventures, like the proposed $500million upgrade of the Nigerian Television
Authority and other sundry bogus contracts, is debt that leads to death.
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