The Atiku Media Organization (AMO) has queried the plan of the Federal Government to raise another $2.8billion dollars Eurobond, the fifth series in less than 2 years.

Coordinator of the Atiku Media Organization, Laurel Chinedu who made the view of the Organization known accused the APC led government of continuously plunging the nation into series of debt.

" I'm amazed that President Muhammadu Buhari is weighing into the option of seeking another Eurobond valued at $2.8 billion dollars. Let me make this known to the general public that if this is approved, it will be the fifth time in two years. Laurel Chinedu said".

This has caused Nigeria external debt to rise massively in the last three years of the APC administration.

"After the PDP government got us out of debt, they (APC) came with recession, the common man is not safe, Nigeria is now the world capital of Poverty, Jobs are still lost daily, they are mortgaging our future with massive debt Laurel Chinedu added ".

"Borrowing is not a bad economical activity, as long as the money is spent on the productive aspect of the economy ,have Nigeria seen infrastructure all around them with these increase borrowing ? . The anwser is no. ,we need to create wealth not Frivolous spending Laurel Chinedu further added".

"The way Nigeria is incurring debt, we may just find out that one day all our budget will be used to service debt". Chinedu lamented.

The APC administration has grown the Federal Government external debt from $7.34 billion dollars to $17.83 billion dollars in just three years of ruling.

"Laurel Chinedu further revealed that if President Muhammadu Buhari's proposed $2.8 billion dollars eurobond sails through it will bring the total amount of Eurobond taken by the APC led government to $9.8 billion dollars in three years".

"Earlier this year in February, the APC led government of Muhammadu Buhari collected $2.8billion dollars and now they are requesting another $2.8billion dollars loan, this is insane and sheer madness".

"Other debt owed includes $3billion dollars (World Bank), $1billion dollars (AFDB) and $300million dollars (Diaspora). All these has led Nigeria's debt Ro increase by a whopping 142% in just 3 years of APC administration".

"Investors now rush to loan money to Nigeria because of it's high intrest yield compared to other nations".

"I'm afraid we are gradually going back to the 90's. You will recall that in the year 2000, the then PDP government of Chief Olusegun Obasanjo repaid $12billion dollars debt owed by Nigeria (which was incured during the military era) to the Paris club, with $18billion dollars writen off".

"The painful thing is that all these debts are not invested into any capital project that can pay back in the future rather as election draw closer, the APC is perfecting it's plan of rigging and vote buying hence the need to stack money rises", Laurel Chinedu concluded

the economic policy of this govt is built on borrowing of money. their development plans is built on borrowing

Burrow borrow!

the crude facts.... My children's generation will not pay for our mistakes.

jowhyte:
Burrow borrow!

make Buhari and his supporters poor

They keep mortgaging the Country's future.

Borrowing isn't even the problem but what is the money used for? Election?

The money will be used to buy votes in 2019