PDP Enraged Over Fresh $4bn, €710m Loans By Buhari
…Says, APC is selling Nigeria
The Peoples Democratic Party (PDP) on Tuesday declared that with the reckless borrowing by President Muhammadu Buhari and the All Progressives Congress (APC), Nigerians might eventually not have a nation and a patrimony that they can freely call their own, after the APC, which has less than two years to vacate office.
The party which stated this while rejecting reported moves by the President Buhari-led APC administration to further mortgage the nation with a fresh N2.66 trillion ($4 billion and €710 million) external loan.
The PDP stressed that given their incompetence, corruption and manifest nonchalant attitude to the plights of Nigerians, the APC and its administration have not shown any commitment towards wealth creation as expected of any responsible government.
The party further lamented that with the N33.107 trillion debt already accumulated by President Buhari and the APC with nothing to show but decayed infrastructure and a depressed economy, an additional N5.62 trillion borrowing proposed by Buhari for the 2022 budget and now a fresh N2.66 trillion external loan, the APC will be hanging over N40 trillion debt on the nation, with no clear-cut repayment plan.
It noted that more alarming is that the debts that APC is hanging on Nigerians are for nebulous projects whose scopes, utilities, locations and contractors are largely vague; a development that validates apprehensions of a huge swindle on our nation at the expense of innocent Nigerians, including generation yet unborn.
The PDP in a statement by its National Publicity Secretary, Mr Kola Ologbondiyan, said that it is an act of wickedness that individuals who know that they will be leaving office in less than two years will be accumulating debts instead of seeking ways to reduce the liability they have brought upon our nation.
According to the PDP; “The APC knows it will not be around after May 29, 2023. That is why it is pushing our nation into deeper economic quagmire with foreign loans, which are largely diverted to personal pockets of their corrupt leaders”.
The party noted that the Buhari-led APC administration resort to reckless borrowing, pillaging of the national vault and suppression of its productive sectors have led to the crippling of the nation’s Gross Domestic Produce (GDP) to the extent that the naira, which the PDP handed over to the APC at N167 to a dollar, has now collapsed to a dismal and all-time low of N557 to a dollar under the APC.
The PDP therefore called on the National Assembly to save the nation by rising above partisan sentiments to reject this latest request by President Buhari for a fresh foreign loan.
The party also urged the National Assembly to immediately commence an open investigative hearing on all the loans collected by President Buhari especially with allegations that they are being diverted to the personal pockets of APC leaders, the cabal in the Presidency as well as APC government functionaries and their cronies.
