The Peoples Democratic Party ( PDP ) has expressed concern over the plan by the Federal government to obtain 5.5 billion dollars foreign loan.
The party in a
statement issued on Wednesday in Abuja by National Publicity Secretary of its
National Caretaker Committee, Mr Dayo Adeyeye, said the proposed borrowing was
needless. President Muhammadu Buhari had on Tuesday written to the National
Assembly requesting the approval of the loan.
PDP said that the
loan if approved by the National Assembly, would plunge Nigeria into further
debt, and consciously mortgage the future of the unborn generations of the
country. It added that it was an attempt to push the nation into more debt that
would affect the future negatively. It noted that as a party that governed
Nigeria “meritoriously for 16 years and handed over a buoyant economy to the
APC in 2015’’, it was worried about the development.
“We are dismayed at
the rate at which the APC government is plunging the nation into debt through
local and foreign borrowing. “The figure
released recently by the Debt Management Office ( DMO ) stating that the nation
under the administration of the APC government in the last two years has
borrowed N7.51 trillion is mind-boggling. “As major stakeholders in the
Nigerian project, we are worried,” it said. The party urged the National
Assembly to stop “this latest demand for foreign loan”.
NAN
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