Stella Dimoko Korkus.com: Senate Under Fire For Approving Buhari’s $22.7 Billion 'Toxic' Loan

Advertisement

Advertisement - Mobile In-Article

Friday, March 06, 2020

Senate Under Fire For Approving Buhari’s $22.7 Billion 'Toxic' Loan

The Human Rights Writers Association, HURIWA, has described as vexatiously unconstitutional the decision of the Ahmed Lawan-led Senate to approve President Muhammadu Buhari’s request to borrow $22.7 billion despite objection from some Senators.





The rights group believes that the collection of the foreign loans, which would be re-looted by government officials, offends several provisions of the Nigerian constitution including sections 16(1); (2) of the Nigerian constitution.

According to Dailypost,HURIWA noted that the section of the constitution opposes excessive borrowings that makes Nigeria a slave of external jurisdictions and impedes our national drive for self reliance.

Specifically, section 16-(1) provides thus: “The State shall, within the context of the ideals and objectives for which provisions are made in this Constitution.

“(a) harness the resources of the nation and promote national prosperity and an efficient, a dynamic and self-reliant economy.

“(b) control the national economy in such manner as to secure the maximum welfare, freedom and happiness of every citizen on the basis of social justice and equality of status and opportunity.


(c) without prejudice to its right to operate or participate in areas of the economy, other than the major sectors of the economy, manage and operate the major sectors of the economy.

(d) without prejudice to the right of any person to participate in areas of the economy within the major sector of the economy, protect the right of every citizen to engage in any economic activities outside the major sectors of the economy.

“(2) The State shall direct its policy towards ensuring:


(a) the promotion of a planned and balanced economic development;

“(b) that the material resources of the nation are harnessed and distributed as best as possible to serve the common good.

“(c) that the economic system is not operated in such a manner as to permit the concentration of wealth or the means of production and exchange in the hands of few individuals or of a group.

“(d) that suitable and adequate shelter, suitable and adequate food, reasonable national minimum living wage, old age care and pensions, and unemployment, sick benefits and welfare of the disabled are provided for all citizens.”

HURIWA submitted that the constant flying around cap in hand by President Buhari to borrow from all conceivable creditors from all around the world was tantamount to converting Nigeria to a beggarly economy which is against these constitutional provisions.

HURIWA applauded Senator Abaribe who stated that the Senate should consider the recommendations ‘item by item’, but his suggestion was dismissed by the Senate President, Ahmad Lawan even as the intense disagreement, made the senate to go into an executive session where it was agreed that the loan be approved.

“Nigeria has from this moment become a slave except HURIWA and all other concerned Nigerians can use the courts of law to try to save Nigeria from the imminent enslavement.

“We call on good spirited individuals to support this advocacy to use the court system to stop the government from proceeding to obtain these toxic loans,” it said.

15 comments:

  1. very toxic indeed

    I weep in advance for my great country

    ReplyDelete
    Replies
    1. How are they under fire.
      If they were,the loan wouldn't have been approved.
      Whatever noise they are making won't change a thing.
      At the end,its the country that will pay,because more than half of the money,once it comes,it will be stolen.
      It's so sad.
      There was a country, truly.

      Delete
    2. Have they paid any before?, accumulation of debts.

      Delete
  2. O ti su mi Walahi!

    ReplyDelete
  3. We can protest against the loan,but going to court is a waste of time,we should accept that this country is in trouble,we need a national conference in this country,it is time to discuss disolution or restructuring.

    ReplyDelete
  4. Senator Abaribe is has the fear of God in him. These set of senators are the worst. They just keep approving loans without us knowing what it is meant for. The roads are bad, insecurity is the worst since independence, healthcare terrible, educational sector no way. But their fans will out and say there is RICE in kano

    ReplyDelete
    Replies
    1. I learnt the minority group left the chambers so come get fear of God...Please don't vouch for any senator at all..How can you approve a loan and you didnt ask for a repayment plan nothing!! and then you want to borrow from China..Those guys are now the new colonialists!! Can you imagine...Buhari don sell Nigeria las las..When Corona virus is disturbing the price of fuel..This our government are filled with myopic and daft people!!

      Delete
  5. hhmmmmnnn i also read somewhere where a governor of a particular state(not sure which now) is about to take a loan of over 2 billion naira for the purchase of official cars. Sigh I tire for our leaders.

    Can it ever get better in our dear country?

    ReplyDelete
  6. The naked face6 March 2020 at 08:28

    Sometimes I just wonder if the president plans to leave after the 8years tenure, because who is going to be responsible for refunds of these numerous loans? 🙄🤷🏾‍♀️, Plus where are all the so called abacha loots ? Airport free unclaimed money? Apartment unclaimed money in lag? Supermarket unclaimed money? It's only logical for the senators to stop approving these loans , the next president will meet numerous bulk DEBTS.

    ReplyDelete
  7. If there's anyone to be applauded in the red chamber, I think it should be the distinguished Senator Enyinnaya Abaribe.

    "Enyinnaya Abaribe is now in the lips of every Nigerian after challenging the President of the Senate, Dr. Ahmed Lawal for approving a loan to the tonne of $22.7b for President Buhari to fund critical infrastructure projects under the 2016-2027 External Borrowing Plan.

    The Senator Enyinnaya Harcourt Abaribe is representing Abia-South Senatorial District of Abia State in the Senate of Nigeria.

    His outspoken nature has drawn him so much love from all democrats.

    In a video posted by The Cable and equally making rounds online, the Senator caused a drama in the red chamber while trying to get an explanation from the Senate President for not seeking their (Fellow Senators) before approving the loan.

    This didn't go down well with Ahmed Lawal that he had to divert the whole explanation of Abaribe.

    Senator Enyi Abaribe only said details of the loan should be debated before passage.

    But the Senate President saw it as Majority and Minority partisan politics.

    He even said that Senator Abaribe should have intimated him about what he intends to say before coming to the floor of the house.

    However, Nigerians are now saying that reasons like this is why they booted Dino Melaye out of the Senate and that Senator Abaribe's voice is not loud and radical enough."

    ~TEEJAY~



    ReplyDelete
  8. The loan is indeed a 'Toxic loan '.Buhari and his cabal have succeeded in ruining Nigeria.

    ReplyDelete
  9. the earlier we realize buhari is a mistake the better. his integrity chants are all wash. the cabal is still very much on top of things and will only do things to further their selfish interest. abacha loot has been coming in trenches, what and what have they been used for?

    ReplyDelete
  10. Hiiiiiip Hiiiiiiip!
    Hurrrrrrrrrray to the fastest growing economy in Africa.

    Let them keep deceiving themselves.

    Thank goodness for dual citizenship, let our rulers[ not worthy to be called leaders] continue to loot and milk the treasury.
    One day monkey go go market but I no go fit return.

    The cloud is already thickening.

    ReplyDelete

Disclaimer: Comments And Opinions On Any Part Of This Website Are Opinions Of The Blog Commenters Or Anonymous Persons And They Do Not Represent The Opinion Of StellaDimokoKorkus.com

Pictures and culled stories posted on this site are given credit and if a story is yours but credited to the wrong source,Please contact Stelladimokokorkus.com and corrections will be made..

If you have a complaint or a story,Please Contact StellaDimokoKorkus.com Via

Sdimokokorkus@gmail.com
Mobile Phone +4915210724141