PDP Berates FG over Alleged Request for $500m Loan

The Peoples Democratic Party (PDP) on Monday urged the Minister of Information and Culture, Alhaji Lai Mohammed, to perish the thoughts of further mortgaging the future of the  country by securing $500 million (N182 billion) loan purportedly to upgrade the Nigerian Television Authority (NTA).

The party in a statement by the National Publicity Secretary, Kola Ologbondiyan, also urged the National Assembly to save the Nigeria by refusing the request by President Muhammadu Buhari to plunge the country into more debt through the request for additional $29.9 billion loan, in which the said $500 million and other unexplained subheads are embedded.

The PDP implored the National Assembly to reject the attempt by the cabal in the Buhari presidency to worsen the economic situation in the country “through the use of phony projects as guise to draw foreign funds to service their selfish economic and political interests.”

The party noted that under the Buhari presidency, the  foreign debt has accumulated to $83 billion “with nothing to show other than excruciating unemployment rate, decayed infrastructure, a worsening governance system, escalated insecurity and unprecedented poverty.”

The PDP alerted Nigerians that the request for the approval of $500 million is aimed at setting the stage for further fleecing of the country’s economy as the federal government under the Buhari administration has shown no commitment towards nation building, transparency and accountability in governance. 

 

Moreover, the party said: “The federal government has failed to present details of the requested $29.9 billion loan in which the $500 million being requested by the Minister of Information and Culture is embedded; a development that points to nothing but the corruption in the Buhari administration."

While counselling the minister to perish the thoughts of $500 million, the PDP charged him to use his appearance at the National Assembly to give account of the funds so far released to his ministry which has been plagued by cases and allegations of corruption under his watch.

The party also charged Mohammed to immediately provide answers to circumstances surrounding the reported National Broadcasting Commission (NBC) N2.5 billion fraud.

The PDP furthermore urged the National Assembly to shelve all requests for foreign loans until the Buhari presidency heed to the demand by Nigerians to open its books and publish details of all financial transactions on foreign loans as well as spending from the federation account “so as to secure the economy from the bazaar of the corrupt cabal in the Buhari presidency.”