The Peoples Democratic Party has called on the National Assembly and Nigerians to reject a plan by President Muhammadu Buhari to borrow $29.96bn.
The party said rather than borrow funds, Buhari should explain to Nigerians what his administration had done with the recovered looted funds and how the 2016 budget was faring.
The spokesperson for the Senator Ahmed Makarfi-led faction of the party, Prince Dayo
Adeyeye, stated this in a statement in Abuja on Wednesday.
Buhari had on Tuesday asked the National Assembly to approve the external borrowing plan to enable his government to raise funds to execute key infrastructure projects across the country between now and 2018.
But Adeyeye said the President must itemise what he intended to finance with the proposed borrowing of almost $30bn instead of lumping everything up in a coded term “and to plunge the nation’s future into a burden of debt”.
He said that the President’s approach could not...
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