Former Vice President, Atiku Abubakar, has
taken a step to stop President Muhammadu Buhari-led government from
collecting more loans from China.
The Presidential candidate of the Peoples Democratic Party in
the 2019 general elections has written the Senate President, Ahmed
Lawan, requesting the National Assembly to reject any new loan
request from the Buhari government meant for “projects that are not
viable.”
Atiku in the letter forwarded to the Senate President called in
the legislature to also halt approval for loans that are not
income-generating or production-based.
Atiku noted that the country risked insolvency if it continued
to borrow money.
Atiku’s letter, a copy of which was made public on Monday, noted
that Nigerians should not fold their hands and watch while the
country teeters towards financial peril.
He further stated that as of May 29, 2015, the nation’s total
national debt was standing approximately at N12 trillion.
He lamented that as of August 2020, Nigeria’s debt has risen to
N28.63 trillion, adding that more alarming was the fact that the
foreign debt portion of the country’s national debt has further
risen from less than $10 billion on May 29, 2015, to almost $30
billion in August 2020.
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“A further cause for concern is the fact that not all of
these debts are necessary. A study of the use to which these monies
have been put to will show that much of it has gone towards items
or projects that are non-productive or viable,” Atiku
noted.
The former Vice President noted that the future of youth and
unborn generations in the country had been placed in what could
very well be bondage-like conditions.
As such, in view of your role as a check on the excesses of
other arms of government, may I suggest that going forward, the
National Assembly should refuse to approve any new loan requests,
where such loans are to be spent on projects or items that are not
income-generating or production-based, or indeed viable,” he
said
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