N6tn Loans: PDP Is Confused, Envious Of Buhari’s Achievements – APC

Reacting to PDP’s claim, the Deputy National Publicity Secretary of the APC, Yekini Nabena, told Punch on the telephone that the PDP was confused.

The APC said the PDP was worried that the APC had within just five years succeeded in areas where successive PDP administrations failed in 16 years.

The APC Deputy National Publicity Secretary said, “The PDP is simply confused that we are succeeding where it failed. The PDP governments collected all sorts of loans with nothing to show.

“But since 2015, all of the loans this government has collected there is evidence for all to see. Is it the loans for rail lines ? What about our ongoing road projects across all the six-geopolitical zones?

“The PDP should go and settle their quarrels and see whether they can build a party. Right now, we don’t have an opposition.”

Meanwhile, the Manufacturers’ Association of Nigeria called for caution, saying the National Assembly should ensure due diligence before approving loans for the Federal Government.

Recall that the Minister of Finance, Budget and National Planning, Zainab Ahmed, while defending the 2021 budget proposals at the sitting of the Senate Committee on Local and Foreign Loans on Tuesday, said Nigeria’s public debt would hit N38tn by December 2021.

She disclosed that the total public debt stock comprising external and domestic debts of states and the Federal Government as well as the Federal Capital Territory stood at N31.01tn ( $85.90bn) as of June 30, 2020.

According to her, it will rise to N32.51tn by December 2020 and N38.68tn by December 31, 2021.This means Nigeria will borrow N6.17tn in 2021.

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Also on Tuesday, the minister said the Federal Government would borrow $2.1bn from Brazil to finance agriculture. Commenting on the Federal Government’s plan to raise Nigeria’s debt profile by N6.17tn in 2021, the PDP berated the President.

The opposition party’s spokesman, Ologbodiyan, advised the National Assembly not to be Buhari’s rubber stamp.

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