PDP SLAMS BUHARI.... Says 5 Years Has Taken The Country Into Further Debts

“Make haste to recover the N14 trillion that was stolen by APC leaders under his watch”….. PDP Tells Buhari 

“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”. 

Alarmed over the huge foreign loans and debts being incurred by the Buhari led government, the opposition Peoples Democratic Party, PDP has questioned the President and his All Progressives Congress, APC on the fears and apprehension of the people that the nation and her people have been placed on the international auction market.

The fears of the PDP is reported to have emerged, following fresh moves by President Buhari 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 in a statement issued on Sunday, 31 May 2020, “the earlier loan of $22.79billion (#8.5 trillion) is the size of 2020 budget, without operable repayment plans, will totally compromise the fiscal integrity of our nation and open her up for economic annexation by foreign creditors. This is in addition to N850 billion from the capital market”. 

The statement which was signed by Kola Ologbondiyan, National Publicity Secretary of the party disclosed that, “it is more alarming that the Buhari government, in this fiscal year, cannot muster the capacity to harness the huge resources available in our country to generate even half of the sum of its own budget, but has been going cap-in-hand to shop for foreign loans”.

The PDP expressed fears that with this situation, the APC administration is practically driving our nation to the brinks while exposing Nigerians to the risk of modern day slavery by mortgaging our future to economic appropriation by foreign interests.

“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 PDP therefore called on Nigerians to look beyond our primordial differences and unite in speaking against this accumulation of debts.

“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 PDP also urges the National Assembly to stand on the side of the people and save the nation by immediately using its legislative instrument to check this unbridled appetite for foreign loans.

Nigerians, in commemorating Buhari’s fifth year anniversary as President and Commander-In-Chief, have queried the All Progressive Congress and their supporters to take out time to do some calculations on the nation’s indebtedness. 

Stakeholders have therefore, wondered how under his five years Presidency, this country has borrowed from every corner of the world trillions of naira that runs into trillions.

Will this indebtedness be measured as part of his achievements when he leaves office? 

These include external borrowing of $10.72 billion (N4.1 trillion) in 2015.

$11.41 billion (N4.4 trillion) in 2016. 

$18.91 billion (N7.3 trillion) in 2017.

$25.27 billion (N9.8 trillion) in 2018.

$27.68 billion (N10.7 trillion) in 2019 as well as 2020 loans of $3.4 billion (N1.3 trillion) from IMF, $4.4 million (N1.594 billion) internal borrowing.

$22.7 billion (N8.8 trillion) external loan and the recently yet to be approved $5.513 billion (N2.1 trillion) waiting before the National Assembly.

Please somebody should help us with the total figure of the above trillions.