Ekiti State Governor, Ayodele Fayose has said
that the move by President Muhammadu Buahri
to obtain a loan of $2 billion from China, is an
attempt to mortgage the future of Nigeria and
its people.

The governor, who said the 2016 budget was
not a reflection of the present economic reality
in the country, added that; “By the time they
borrow N1.84 trillion to fund their N6.06 billion
budget; I wonder how [url=/forum2_112438309.xhtml]Nigeria[/url] will survive in
2017 when the Federal Government will be
servicing debt with about 50 percent of its
budget.”

Fayose in a release issued Friday by his Special
Assistant on Public Communications and New
Media, Lere Olayinka said; “In elementary
economics, you don’t propose to spend more
when your income reduces and I still can’t
understand this Buharinomics in which Nigeria is
going to spend N6.06 billion with crude oil
bench mark of $38 per barrel when the country
budget was N4.5 trillion in 2015 when crude oil
bench mark was $53 per barrel.

He said since the President claimed to have
recovered and still recovering trillions of Naira
looted from the treasury and over N3 trillion
saved from the Treasury Single Account (TSA),
the 2016 budget should be funded with the
recovered fund.

The governor said he was alerting Nigerians of
the danger in the federal government plan to
fund the 2016 budget with loan, adding that;
“Tomorrow, it will be said of me that I did not
keep silent when Nigeria was being mortgaged
to unnecessary debt.

He warned that with the proposed N1.84 trillion
borrowing, $2 billion of which President Buhari
is already going to borrow in China, the nation
may soon be going the way of Greece because
Nigeria will be borrowing N5 billion per day for
the next 365 days. “If your income was N200,
000 per month last year and your expenditure
was N195, 000 per month; does it make any
economic sense for you to propose to spend
N300, 000 per month this year that your income
has reduced to N120, 000?

“Only President Buhari can explain to Nigerians
what manner of Economic theory encourages
borrowing of N1.84 trillion to fund a N6 trillion
budget. As for me, it is nothing but a voodoo
economic theory and Nigerians must take note
that the income that should accrue to them in
five years’ time is about to be spent in one year
by the Buhari’s APC government,” the governor
said.

http://www.ripples.com.ng/china-2bn-loan-buhari/

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Look at this BASKET-MOUTH again oooo.
Even you FAYOSE will do worse by selling your people and other Nigerians if that's what it will take to feed you and your family.
When Oga GEJ was borrowing trillions of Naira so as to share to all PDP thieves, why didn't you challenge him?
Nonsense chameleons