Connect with us
X
Categories:

News

$1.2 Billion Brazil Loan: PDP Taunts Buhari Over Reckless Borrowing

Published

on

Buhari

The @OfficialPDPNig is alarmed by fresh plans by President @MBuhari to further mortgage our nation through an additional $1.2 billion loan from Brazil despite the public outcry against the accumulation of loans from China and other foreign interests.

Download & Install The New ANE Android App To Your Device
Hello!! Have you heard about the deadly virus called Coronavirus? No? See What It Is & How To Prevent It Here. Also Stay Connected & Get Latest Updates On Coronavirus Here. Please be safe! We LOVE You.


The PDP cautions the @MBuhari Presidency not to further weaken our nation and using nebulous agricultural programmes as justification for further accumulation of foreign loans, without clear terms and conditions, to the detriment of the poor masses and generations yet unborn.

The party further warns that the loan request, if approved by the @nassnigeria, will exacerbate our nation’s debt burden, mortgage our agricultural sector, weaken our investment capacity and worsen our food security challenge.

Our party invites Nigerians to note that with the $1.2 billion (N459 billion) Brazilian loan, in addition to the N5.20 trillion borrowing already proposed in the 2021 budget, our nation’s debt burden will hit a disastrous N36.2 trillion which will plunge our economy into a devastating pitfall.

The @OfficialPDPNig therefore urges the @nassnigeria to save the nation by being circumspect in handling the loan request in the national interest.

Instead of this recourse to reckless borrowings, the @OfficialPDPNig urges the @MBuhari Presidency to apply itself productively by looking inwards and finding ways to harness and create wealth with the resources abounding in our country.

What Nigeria needs now is for government to be more innovative and resourceful in galvanizing a productive economy instead of reducing our nation to a beggar status among the comity of nations.


Get More Stories Like This On: Facebook: @AllNaijaEntertainment, Twitter: @AllNaijaEntertainment

Click to comment
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Don’t Miss!

Join "ANE sabi" clique

Don't miss a thing, get ogbonge ANE latest updates to fuel your conversation daily.




Latest Exchange Rate

Donate To ANE!


Mind buying a coffee to support us here at All Naija Entertainment?. Yes?

Donate Now

ANE Billboard Hots!



Join "ANE sabi" clique

Don't miss a thing, get ogbonge ANE latest updates to fuel your conversation daily.





Copyright © All Naija Entertainment.

css.php