Government & Politics

$29.96bn Loan: Why Saraki Must Not Join President Buhari To Ruin Nigeria – Fayose


Ekiti State Governor, Mr Ayodele Fayose has urged the Senate President, Senator Bukola Saraki not to join President Muhammaud Buhari-led federal government in ruining Nigeria by supporting the request for external loan of $29.96 billion.

In a release issued by his Special Assistant on Public Communications and New Media, Lere Olayinka, Governor Fayose asked; “what is the economic sense in taking over N12 trillion loan so as to be able to spend more money during economic recession? How can a nation be proposing to spend more money when its income has reduced considerably?

“Yes, it is being argued that nations in recession must spend to get out of recession, but in the case of Nigeria, how do we pay back when as at today, 30 percent of our income is being used to service debt? What will happen to our economy when over 60 percent of our income is being used to service debt?”

ALSO READ:  Muslim clerics begin 10-day prayer, fasting for Buhari

He said the Senate must be mindful of the reality that “many States in Nigeria are unable to pay workers salary now because of the huge debt left behind by past governments.”

Make Money Online in Nigeria... Click HERE To Start Now!



Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending this week

To Top