BREAKING: Buhari writes Reps, seeks fresh $5.513bn loan
Published

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Leke Baiyewu, Abuja



The President, Major General Muhammadu Buhari (retd.), has written to the House of Representatives to request for the approval of fresh external borrowings totalling $5.513bn.

Buhari, in the letter read by Speaker of the House of Representatives, Femi Gbajabiamila, at the plenary on Thursday, said the funds were for 2020 budget deficit, financing of critical projects, and some states of the federation.

The President also presented a revised 2020 Appropriation Bill and 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper.
The National Assembly had recently approved a loan of N850bn for the Federal Government, while another of $22.79bn, which the Senate has already approved, is pending before the House.

Details later…
Copyright Punch newspaper

Are we not tired of borrowing? Who is gonna pay all these debts? This is still reaffirming that Buhari regime is out to mortgage Nigeria to debts with no clear cut economic or revenue generating policy.

Oil price is already low & budget burden have already been slashed yet the government is still wasting scarce resources prospecting for an elusive oil up north.Budget implementation is not up to 50% in successive years. Unemployment & inflation skyrocketing.VATs is long increased.

Nigeria is already in deepshit recession while still servicing debts.GDP:Debts Ratio is grossly nothing to write home about.Other indices of sound economic growth are giving abysmaly values.So what is Nigeria borrowing for?

Again? I don't want to believe this oh. Wetin we do this man naa? Why always borrow? We are crying we don't have money yet they are busy carrying out dry oil well exploration up North so they can syphone money.

If This is Through then we are?

This man want to finish this country before the end of his tenure.

As if too much borrowing isn’t a problem....the situation is compounded by the fact he will find sneaky, innovative ways to divert more of it to the core north! Then later they will ask all of us to pay it back!

You people are not Nigerians so stop worrying about where he diverts the money to. [s]

IGBOSON1:
As if too much borrowing isn’t a problem....the situation is compounded by the fact he will find sneaky, innovative ways to divert more of it to the core north! Then later they will ask all of us to pay it back!

[/s]

Aisha is worse than Abacha

Almost every sector of the economy is stand still. No Capital project and the government keeps borrowing as if they will spend the money judiciously. Where is the recovered Abacha loot. The oil price is now around $35,Hope this government will not kill this country with debt

N-power beneficiaries will soon lose their jobs. Our country is still borrowing funds. May God save Nigeria.



Check my sig

N-power beneficiaries will soon lose their jobs. Our country is still borrowing funds. May God save Nigeria.



Check my signature

Hasn't oil been found in the north ?