The Peoples Democratic Party (PDP) has blasted President Muhammadu Buhari for requesting fresh loan of $5.5 billion from different international financial institutions.
According to PDP, Buhari have placed the nation and her people on the international auction market.b
In a statement on Thursday by the spokesman for the PDP, Kola Ologbondiyan, flayed the President’s decision to take a fresh $5.513 billion (N2.1 trillion) loan, in addition to an earlier $22.79 billion (N8.5trillion).
According to the PDP, the administration did not have operable repayment plans for the loans, a situation it said, could totally compromise the country’s fiscal integrity and open her up for economic annexation by foreign creditors.
Recalling that the government had recently secured another N850 billion from the capital market, the party said it’s regrettable that the administration has been going cap in hands to shop for more foreign loans.
The PDP further said it’s alarming that the Federal Government could not muster the capacity to harness the huge resources available in the country to generate even half of its own budget for the current fiscal year.
The main opposition party said the Buhari administration is practically driving the nation to the brinks.
It added that the government was exposing Nigerians to the risk of modern day slavery by mortgaging their future to economic appropriation by foreign interests.
Continuing, the PDP said, “Already the situation has created apprehensions, anxiety and trepidation among the citizens, particularly the youths, who are now scared about their future and the survival of our nation under the APC.
“It is even more distressing that this administration cannot account for the loans it has taken so far. In spite of the deluge of loans, the lives of the ordinary Nigerians, on whose behalf they claim to be amassing these debts, have become worse than the APC and Buhari met them in 2015.
“Painfully, even the savings made by previous administrations have been opened up for pillaging by APC leaders and the cabal in the Buhari Presidency”.
The party called on Nigerians to look beyond primordial differences and unite in speaking against debt accumulation.
“It is no longer about political party affiliations, creed, ethnicity, class or age. We all must unite in one voice to save our nation from an imminent collapse.
“Our party holds that rather than mortgaging our nation to foreign interests, President Buhari should immediately cut the size of his government, slash its over bloated budget, clip its luxuries, curb unbridled corruption in his administration and make haste to recover the N14 trillion that was stolen by APC leaders under his watch.
“If the N14 trillion stashed away by APC leaders and the cabal is recovered, our nation will not be in need of these humongous foreign loans”, the party added.
The PDP urged the National Assembly to stand on the side of the people and save the nation by immediately using its legislative instrument to check what it described as the administration’s unbridled appetite for foreign loans

http://www.politico.ng/5-5bn-fresh-loan-request-buhari-has-placed-nigeria-for-sale-at-international-market-pdp/

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Let buyer gather and start bidding for this country.

I just pray is not China that Baba Buhari sold Nigeria to.

How a government keeps borrowing with no means of paying back is worrisome and every well meaning Nigerian should be speaking up against this and not siding with them simply because it's your party.

This should be more about our dear country; not an individual nor party affiliation.

These people don't care about us!

Wrong moves, yes, however Nigeria needs all the loans she can get to rejuvenate our already ailing economy. COVID-19 gave it quite a blow.

My problem is: we can shout all we want. Buhari and his disastrous economic decisions have come to stay; well, at least until 2023. Secondly, Mr President has no shame. I recall he pleaded debt forgiveness last month only to go back seeking more loans?

Buhari is a perfect representation of the irresponsible father always bringing the family shame a lot of us had growing up.

President Buhari Should Immediately Cut The Size Of His Government, Slash Its Over Bloated Budget, Clip Its Luxuries, Curb Unbridled Corruption In His Administration And Make Haste To Recover The N14 Trillion That Was Stolen By APC Leaders Under His Watch.

"Painfully, even the savings made by the previous administrations have been opened up to pillaging by the APC leaders & the cabal in the Buhari presidency."

People decieving people!

Instead of to sell the country and give me my share but the Painful aspect be say na we and future generations dey pay back this loan.

na so

Buhari and APC have already finished selling Nigerian.

Buhari and APC have already finished selling Nigerian.