The Peoples Democratic Party, PDP, Wednesday urged Nigerians to stop President Muhammadu Buhari from borrowing $29.960b (over N10 trillion) for the execution of key programmes and infrastructural projects across the country.
PDP also asked the National Assembly not to approve the request by the President.
Spokesman for the Senator Ahmed Makarfi-led faction of the party, Prince Dayo Adeyeye, in a statement said that President Buhari must specify what he intended to finance with the proposed borrowing of almost $30b, instead of lumping it up in a coded term, “and to plunge the nation’s future into burden of debt.”
PDP said the President’s approach cannot be the preferred solution to the economic quagmire “created by the present government”.
“This Government budgeted N6.07trn for the 2016 Fiscal Year with deficit of N2.22trn and according to the breakdown, N1.8trn was budgeted for Capital Expenditure and President Buhari is now seeking to borrow over N9trn ($29.960b) for ‘critical infrastructure’.
“This is absurd and way outside the Government budgetary provisions for Capital Expenditure and must be rejected by all well-meaning Nigerians.
“Nigerians will recall that the Minister of Information, Culture and Tourism, Alhaji Lai Mohammed in June 2016 made public through a press statement, an account of recovered looted funds between May 2015 to May 2016 amounting to the sums of N78.3b, $185.1m, £3.5m and €11,250m in cash; while others were under interim forfeiture. What happened to the recovered funds?
“Or is it the same funds the EFCC and Department of State Services are planting in houses of opposition figures and Justices instead of channeling it into the economy?”
dailypost
PDP also asked the National Assembly not to approve the request by the President.
Spokesman for the Senator Ahmed Makarfi-led faction of the party, Prince Dayo Adeyeye, in a statement said that President Buhari must specify what he intended to finance with the proposed borrowing of almost $30b, instead of lumping it up in a coded term, “and to plunge the nation’s future into burden of debt.”
“This Government budgeted N6.07trn for the 2016 Fiscal Year with deficit of N2.22trn and according to the breakdown, N1.8trn was budgeted for Capital Expenditure and President Buhari is now seeking to borrow over N9trn ($29.960b) for ‘critical infrastructure’.
“This is absurd and way outside the Government budgetary provisions for Capital Expenditure and must be rejected by all well-meaning Nigerians.
“Nigerians will recall that the Minister of Information, Culture and Tourism, Alhaji Lai Mohammed in June 2016 made public through a press statement, an account of recovered looted funds between May 2015 to May 2016 amounting to the sums of N78.3b, $185.1m, £3.5m and €11,250m in cash; while others were under interim forfeiture. What happened to the recovered funds?
“Or is it the same funds the EFCC and Department of State Services are planting in houses of opposition figures and Justices instead of channeling it into the economy?”
Pdp are we going to beat him? You are charging us to stop him abi. Smh
ReplyDeleteThe last question though.
ReplyDeleteOpposition is darn necessary in this present administration.
Vuharia is a disgrace!...
ReplyDeleteI thought his visit to China was for them to do all that for us.. Wasn't it what he said that China was gicing us loan in terms of infrastructure so we don't pay them in cash but in other means of business? Whatever happened to that dealing in yen for importers importing from China. Abi it was all a lie?
ReplyDeleteBesides can they start using the recovered funds already .we all know they are not going to prosecute any one. The only thing they are doing is arresting them and making them forfeit their loot. Unless of a truth, there is no money any where and all the money they have been mentioning in the media is not true
Fab mum...
DeleteDon't believe everything you read!...
These people's lies can wake up the dead!...
Queen and boss. You need to open your mind. So you support Buhari borrowing every 3 months?
DeleteNigeria will go into deeper recession with this nonsensical borrowing.
What is he taking a loan for now? I thought all they have been doing is recovering stolen money since he came to power. Why not use the money they have recovered? Where is the money sef?
ReplyDeleteHe and his family have looted them!..
DeleteDon't believe all those bogus amount they claimed that the members of the PDP stole!...
Liars!...
Asking for more money when we have not seen anything from the ones given.
ReplyDeleteThere's massive hunger in the land and all they care about is distracting us with sensational media headlines in the name of fighting corruption
What a scam! What a waste of vote!
To hell with him. Whats happened to the supposed returned billions by looters. L-I-A-R-S.
ReplyDelete...TAG A FRIEND, COMMENT & PRAY 4 SDKBLOG...
Na wa o Baba!
ReplyDeleteDieziani, jide omokore and kola aluko can come up with that money this idiot wants to borrow.. Recover the stolen funds and act.. Useless oldman
ReplyDeleteHmmmn
ReplyDeleteI read the news about Buhari wanting to borrow $29.9billion and my heartbeat skipped. What the hell does he want to do with all that money?
ReplyDeleteDoes he want to plunge Nigeria into great debt and mortgage the future of coming generations? Abeg, Abeg. He can't even be thinking of borrowing that much money in a land with little financial accountability.
Do you suffer from chronic knee pain? Learn a bit more about potent electromagnetic pulse therapy for chronic knee pain here
God have mercy, for 2019 elections, or for searching for oil in the north, or to fix north east. please, do not mortgage the future of our unborn generation! you have settled your children for life!
ReplyDeleteHe should explain why he is requesting for a loan that is above the budget.
ReplyDeleteAs a birthday girl that I is now...
31882 80362 78083 glo
Mschew, in my own opinion, any Governor or president that wants to borrow money and cannot pay within his tenure in office shouldn't be given that loan. What's all these nao?
ReplyDeleteIf you're in your second year in office and you want to borrow money, make sure you can pay back before you leave other wise, no!!!
Then they'll now put stress on the next person that will be elected. Let's use the money we have to build our country.
Cut costs,
Useless allowances of president, senators, governors, All!!!
All in all, azin all in all, let the president receive one million monthly, that is salary and allllllllllll the allowances.
And that should be the highest for elected persons and appointed persons. Mschew.
This country disgusts me.
Where is that loud mouth Sisi Eko? Have you gone deaf & dumb. Omo ale
ReplyDeleteAs dead and dumb as ur mama ehh. Ahahahah
Delete*deaf*
DeleteMosi nawa for you o. Some entry level workers with multinationals make 1million a month. You want appointed persons with over 20years experience to be paid same. Ko possibru!
ReplyDelete