I can’t sit and watch Buhari squander our children’s future with his $29.6bn loan request – Atiku
Former Vice President Atiku Abubakar has criticized President Buhari’s $29.6 billion loan request which he described as irresponsible.
The Presidential candidate of the People’s Democratic Party (PDP) in the 2019 general elections alleged that Buhari was trying to ruin the future of Nigerians with the loan request which Senate President Ahmad Lawan said will be approved despite its rejection in the 8th senate.
Atiku who recalled how he and former President Olusegun Obasanjo worked to clear Nigeria’s foreign debt after the return of democracy in 1999, affirmed that Nigeria’s problem is not the lack of money but the inability of Nigerians to make the right leadership decisions.
“The fact that Nigeria currently budgets more money for debt servicing (?2.7 trillion), than we do on capital expenditure (?2.4 trillion) is already an indicator that we have borrowed more money than we can afford to borrow. And the thing is that debt servicing is not debt repayment. Debt servicing just means that we are paying the barest minimum allowable by our creditors.
“And while spending 50% of our current revenue on debt servicing, this administration wants to take further loans of $29.6 billion! To say that this is irresponsible is itself an understatement.
“President Olusegun Obasanjo and I paid off this nation’s debt, and I will not stand idly by and watch while Nigeria is plunged into second slavery by those who only know how to reap where they have not sown.”
Atiku also pointed out a way the Buhari-led administration can get the loan they seek for without neccesarily plunging the nation into debt. He disclosed that deploying Saudi Arabia’s ARAMCO strategy to the Nigerian National Petrole