Nigerians have descended heavily on Minister of Works and
Housing, Babatunde Fashola for blaming
former President, Olusegun Obasanjo for using Paris Club’s $12 billion debt
cancellation to pay the nation’s creditors rather than using the fund to build
roads and rails.
Fashola had in a interview on Channels TV blamed Obasanjo,
as partly responsible for Nigeria’s weak infrastructural base, saying that
instead of paying off Nigeria’s external debts, the ex-Nigerian leader should
have invested in capital projects across the country.
According to Fashola, previous governments that had access
to a lot of money, under-invested in the country’s infrastructure, saying if he
had the $12 billion, like the Olusegun Obasanjo government in 2005, he would
have built rails and more roads.
In 2005/2006, the Paris Club wrote off $18 billion or 60 per
cent of the $30 billion Nigeria owed the cartel, after months of negotiations,
a development touted as one of the biggest achievements of the Obasanjo
administration.
Fashola said that rather than deploy the funds prudently, the
Obasanjo government decided to pay the country’s creditors to the detriment of
the country, insisting that today, Nigeria has gone back to borrowing because
the governments in the past ignored investment in infrastructure.
Nigerians on twitter attacked Fashola for questioning
Obasanjo’s ingenuity in using the money to pay creditors.
Fashola is currently trending on twitter for the wrong
reason.
A twitter user, Autos
Boss, said Fashola should hide his face in shame and never speak again.
A user, Mukolu Lukas said the day Fashola decided to follow
president buhari, that was when his brain was twisted, saying that instead of
now thinking forward, he is now thinking backward.
Emeka Anene said Fashola should have completed the Lagos
Metro line, and that instead he folded his arm blaming Obasanjo.
Read reactions below
What's wrong with Fashola? The Fashola I know doesn't reason like this. Something is wrong.
— Salau Bankole (@Bankyhoney) October 3, 2020
Agunta Daddy Fash ti n ba Aja rin o.
Fashola can't be this daft!
— O'femi (@theOluwafemi) October 3, 2020
From a suppose intellectual, this is nonsense.
Someone did his best and got $12bn cancelled with the belief that the money that would have been used to keep servicing this lofty debt can channeled into other ventures like provision of infrastructures. https://t.co/wfWtFSWa5s
The same Fashola that promised to fix Nigeria's power issues within 6 months?
— 👑NNANNA👑 (@nna_amadi) October 3, 2020
Nothing surprises me anymore from these folks. https://t.co/CVfWh2xi6x
Fashola said Nigerians are disappointed because they are looking for results in the wrong place(fed. govt). Let me also reamind him that the fed. govt. controls more than 50% of the resources in this country. It's fair to look up to them. To whom much is given, much is expected
— Michael Erhabor (@Michael_Erhabor) October 3, 2020
Another disappointment from Fashola;If OBJ had used the money to build roads and other infrastructures,would Pmb have gotten loans so easily to embark on projects they are doing today and would things not have been much more difficult for us today?
— lester Eseoghene Eghagha (@leghagha144) October 3, 2020
Whatever happened to Fashola? Very worried that a senior minister cannot comprehend opportunity cost.
— Amara Nwankpa (@Nwankpa_A) October 3, 2020
We were offered $12bn for 30bn. Effectively a gift of $18bn he now thinks we should have forgone. I hope this kind of reasoning isn't driving our current debt management. https://t.co/L860MLmXgJ
This is Fashola Lagos .A state that is richer than many countries in Africa .A state that is richer & bigger than some countries in Europe. A state surrounded by water ,yet no govt water system .That is the share Fashola and his gangs had ruined with debt .Danger zone beware pic.twitter.com/voK3bi3Wx6
— Conscience of Truth PHD (@alphaolive) October 3, 2020
Obasanjo Should’ve Built Rails, Roads, Instead of $12bn Debt Cancellation.
— ALABI OPEYEMI OLADIMEJI (@alabiopeyemiola) October 3, 2020
- FASHOLA
I totally agree with this! The $12bn could have worth trillion of infrastructural assets today#AOO
Fashola is telling you Nigerians that Nigeria is heading for a debt default.
— William (@_SirWilliam_) October 3, 2020
Debt servicing to revenue is 99%, obviously we can't sustain it.
When Nigerian politicians openly support nonsense, think about the worst that could possibly happen.
It will happen. https://t.co/IjwFgL7UeR
Fashola has become the "Nza bird that has challenged his chi to a wrestling match." His foolishness is questioning the wisdom of the former President Obasanjo in settling our debt of $12bn. His wisdom cannot query the unaccounted borrowing and stealing in this administration. https://t.co/EtjcHpnS4O
— Concerned citizen (@aelinwa) October 3, 2020
Now they are even blaming OBJ-Atiku for making Nigeria debt free, since debt is their only stock in trade. Please can Fashola give a road or rail they working are working on that was not initiated by OBJ-Atiku and continued by GEJ ?! https://t.co/M9JxOaPkpO
— Olushola Olufolabi (@olushola_shola) October 3, 2020
Click to signup for FREE news updates, latest information and hottest gists everydayNigerians are complaining that this regime has plunged the country into debt trap.
— IKECHUKWU (@iykimo) October 3, 2020
Fashola is saying OBJ shouldn't have paid off part of Paris Club debt to get debt forgiveness.
APC is taking Nigeria back to 1999.
6 years of APC misrule
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