A Civic group, SERAP, have asked the President Muhammadu Buhari administration to publish details of the loans the administration have obtained since assumption of office in 2015.
Daily Times gathered this on the SERAP’s official Twitter handle which said
“We’ve asked the Federal High Court, Abuja to order President Buhari to publish details of loans that have been obtained by the government since May 2015; the interest rate, the total amount of debts; and details of the projects on which the loans have been spent”.
SERAP’s demand seems to stem from increased concerns over the frequent obtaining of loans by the APC government, particularly during the economic downturn occasioned by the coronavirus pandemic.
Only recently, the National Assembly was reported to have approved a $5.5trn loan for the government, raising concerns that the future may not be auspicious for the country in the coming years.
SERAP is a nonprofit, nonpartisan, legal & advocacy org. devoted to promoting transparency, accountability & respect for socio-economic rights in Nigeria.