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Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request (27116 Views)

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Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by oshozondii: 12:19pm On Nov 29, 2019
Shehu Sani, ex-chairman of the committee on local and foreign debts in the previous senate, has defended the lawmakers’ decision to reject a $29.96 billion loan request from President Muhammadu Buhari.

In a statement on Friday, Sani said the senate at the time rejected the request to save Nigeria from being ”recolonised by creditor banks”.

The president first forwarded the request captured in the federal government’s 2016-2018 external borrowing plan to the upper legislative chamber in 2016.

After failing to secure their approval, he sent it to the ninth assembly on Thursday, asking the lawmakers to approve the loan which he said is “critical to the delivery of the government’s policies and programmes”.

But Sani said the country’s external debt would have hit $52 billion if the senate had approved the loan request.

“We turned down the FG loan request for $30 Billion to save Nigeria from sinking into the dark gully of a perpetual debt trap,” he said.

“We don’t want our country to be recolonized by creditor banks.”

Sani, who represented Kaduna central at the senate, said the country’s external debt stands at $22.08 billion as of June this year — from $10.32 billion in 2015.

He warned that borrowing further will jeopardise Nigeria’s future.

“With the current escalation of borrowing, we will be walking into debt slavery and move from landlords to tenants in our country,” he said.

“They will always tell you that even America is borrowing and I don’t know how rational is it to keep on borrowing because Another country is borrowing.

“If we keep listening to Bankers and contractors we will keep borrowing and burying ourselves and leave behind for our children a legacy of debt burden.

“Loans are not charities. Most of those encouraging more borrowing are parasitic consultants, commission agents, rents seeking fronts and contractors. We must be cautious.”


https://www.thecable.ng/shehu-sani-we-rejected-buharis-30bn-loan-request-to-save-nigeria-from-recolonisation

49 Likes 7 Shares

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by General0847: 12:27pm On Nov 29, 2019
Buhari will wreck the country before he leaves and long after he is gone the negative effects will still be there.
He has secured the future of his family but he is mortgaging the futures of Nigerians including his zombie followers.

236 Likes 18 Shares

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Pusyiter(m): 12:29pm On Nov 29, 2019
Mshewwwwww
Is recolonisation not better than the condition we are in this country? cry

12 Likes 2 Shares

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by SarkinYarki: 12:29pm On Nov 29, 2019
Buhari is a bad leader

119 Likes 3 Shares

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Formularcr7: 12:31pm On Nov 29, 2019
You are all mad,all big organization applly for loan to stay afloat in tough time

14 Likes 4 Shares

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by opportunes: 12:32pm On Nov 29, 2019
1
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Donald95(m): 12:39pm On Nov 29, 2019
Pusyiter:
Mshewwwwww
Is recolonisation not better than the condition we are in this country? cry
Formularcr7:
You are all mad,all big organization applly for loan to stay afloat in tough time

44 Likes 5 Shares

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Sirjamo: 12:43pm On Nov 29, 2019
No power, no rail, no clean water, inefficient housing, miserable health care, roads are death trap, social service is non - existent, education in comatose, industries are dead, security is in limbo.... If we do not borrow, where are we suppose to find the money to fix all these?

What I think the Senate should do is to make sure that the loans are used to execute developmental projects that have the capacity to impact our lives and also have the potential to raise revenue so that we can be able to quickly pay back.

20 Likes 5 Shares

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Agboriotejoye(m): 12:45pm On Nov 29, 2019
Hmmm. God help us. VAT, stamp duty, border closure, data tax and now loans. Wetin dem dey take all the money so self Both of them kuku no fat still undecided

6 Likes

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by juman(m): 12:50pm On Nov 29, 2019
Nigeria need to borrow fifty billion dollars and give it to Fashola to build infrastructure.

1 Like 2 Shares

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Eteka1(m): 12:51pm On Nov 29, 2019
The loan is meant for major infrastructural development like roads, power, rail, bridges etc. There is nothing wrong in that. Nigeria's debt to GDP ratio is one of the lowest in the world at 30.05%.

10 Likes 2 Shares

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Zooposki: 12:52pm On Nov 29, 2019
Pusyiter:
Mshewwwwww
Is recolonisation not better than the condition we are in this country? cry

You are crazy. You want to be like the South Africans that all live in ghettos, while the whites are enjoying the fat of the land.

Have you seen the ghettos where the black South Africans live??

52 Likes 4 Shares

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by juman(m): 12:54pm On Nov 29, 2019
With our population of over two hundred million peoples, if we borrow hundreds of billions of dollars, with good management we would pay it back easily.

But we don't have good management.
That is the real problem.

23 Likes 2 Shares

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Racoon(m): 12:55pm On Nov 29, 2019
Meanwhile, the senile president through the puppeting action of the presidency cabal have reapplied to the stooge rubberstamp senate for the same bondage loan again.

The same Buhari govt that have endlessly lied about an imaginary shored up revenue generations from NPA, NNPC, TSA savings, EFCC/ICPC seizures, Customs Duties etc yet it's hell bent on mortgaging Nigeria into chronic financial indebtedness.Are these people ok? angry

39 Likes 2 Shares

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by sweetonugbu: 1:00pm On Nov 29, 2019
We understand, as for buhari whenever he wants to eat tuwo shinkafa the first thing that enters his mind is loan,if he wants to drink nunu loan, if he wants to buy kulikuli loan, it's not as if to say this loans are for tangible projects but for trivialities.

7 Likes 1 Share

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Eteka1(m): 1:02pm On Nov 29, 2019
Racoon:
Meanwhile, the senile president through the puppeting action of the presidency cabal have reapplied to the stooge rubberstamp senate for the same bondage loan.

The Buhari have endlessly lied about an imaginary shored up revenue generation from NPA, NNPC, TSA savings, EFCC/ICPC seizures, Customs Duties etc yet he'll bent on mortgaging Nigeria into chronic financial indebtedness.Are these people ok? angry
All that federal revenue you talked about (VAT, Crude oil sales, Import duties/customs etc) gets shared monthly between Federal, States and LGAs. Not like FG gets to keep them.

8 Likes 1 Share

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by jconsulting(f): 2:03pm On Nov 29, 2019
By 2023 we will know where we stand......If it has been destined that Nigeria will​ be great no one can destroy it and if otherwise no one can stop it ,as for me We dey God hand ......A beg how much be Canada visa

4 Likes

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Sukueponmalu: 2:36pm On Nov 29, 2019
Twitter senator cheesy

1 Like

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Brandstudio01: 2:37pm On Nov 29, 2019
My problem is that we are borrowing with nothing to show for it all

16 Likes

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Nobody: 2:38pm On Nov 29, 2019
Eteka1:
The loan is meant for major infrastructural development like roads, power, rail, bridges etc. There is nothing wrong in that. Nigeria's debt to GDP ratio is one of the lowest in the world at 30.05%.
you are a wise man... dis is the real fact of the matter, unlike those wailing wailers above typing trash

5 Likes 2 Shares

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by SenecaTheYonger(m): 2:38pm On Nov 29, 2019
He wants to borrow more than our foreign exchange. wow, this guy wants to sink this country in debt. No wonder IMF had to issue us warning immediately.

7 Likes

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by soberdrunk(m): 2:38pm On Nov 29, 2019
angry
Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by Fredlongs(m): 2:39pm On Nov 29, 2019
Baba wan start to pile up him retirement fund...

8 Likes

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by EternalYouth(m): 2:40pm On Nov 29, 2019
Ok. Do you provide alternatives to loan? Or you just want the country to remain underdeveloped permanently? It is because of your bad decision that makes your constituent to refused to give you another term in the Senate.

2 Likes 1 Share

Re: Shehu Sani: Why We Rejected Buhari’s $30bn Loan Request by irepnaija4eva(m): 2:41pm On Nov 29, 2019
30billion whatttttt!!!!!! shocked shocked shocked

Jesu!!!!!

3 Likes

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