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PDP rejects Buhari’s $29.9billion external loan proposal

Appointment of Makarfi as Chairman Caretaker Committee - Source: Vanguard

Following President Muhammadu Buhari’s request to the National Assembly to borrow about $30billion for infrastructural projects nationwide, the Peoples Democratic Party (PDP) has called on Nigerians to stop Buhari.

 According to the PDP, the Federal Government should explain and tell Nigerians how all the allegedly recovered loot was used.

The statement was released by Prince Dayo Adeyeye, the spokesman of the Makarfi-led PDP Caretaker Committee.

“This Government budgeted N6.07trn for the 2016 Fiscal Year with deficit of N2.22trn and according to the breakdown, N1.8trn was budgeted for Capital Expenditure and President Buhari is now seeking to borrow over N9trn ($29.960b) for ‘critical infrastructure’.

“This is absurd and way outside the Government budgetary provisions for Capital Expenditure and must be rejected by all well-meaning Nigerians.

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