$ 1.2 Billion Brazilian Loan: PDP Insults Bukhari for Reckless Borrowing
$ 1.2 Billion Brazilian Loan: PDP Insults Bukhari for Reckless Borrowing … Urges President Not to Make Nigeria a Beggarly Nation
@OfficialPDPNig is alarmed by President @ MBuhari’s new plans to pledge our country further with an additional $ 1.2 billion loan from Brazil, despite public outcry against the buildup of loans from China and other foreign interests.
The NDP warns the presidency of @MBuhari against further weakening our nation and using vague agricultural programs as an excuse to further accumulate foreign loans without clear terms and conditions to the detriment of the poor and future generations.
The party also warns that the loan application, if approved by @nassnigeria, will exacerbate our country’s debt burden, collapse our agricultural sector, weaken our investment potential and exacerbate food security concerns.
Our party calls on Nigerians to note that with a $ 1.2 billion ($ 459 billion) Brazilian loan, in addition to the $ 5.20 trillion loan already proposed in the 2021 budget, our country’s debt burden will reach catastrophic levels in 36 dollars. $ 2 trillion, which will plunge our economy into a destructive trap.
Then @OfficialPDPNig calls on @nassnigeria to save the nation by being careful when handling a loan request in the national interest.
Instead, resorting to reckless borrowing, @OfficialPDPNig encourages @MBuhari’s presidency to be productive by looking inside and finding ways to harness and create wealth with the resources our country abounds in.
Nigeria now needs the government to be more innovative and resourceful in stimulating a productive economy, rather than downgrading our country to a beggar among the community of nations.