November 02, 2016

Government playing with Our Destiny with that $29.960bn Loan – Falana

Human rights activist and Senior Advocate of Nigeria (SAN), Femi Falana, has called on the federal government to drop its plan to borrow $29.960billion to execute projects across the country.

The lawyer said the government would be putting the collective destiny of the younger generation in jeopardy should it go ahead with the controversial loan.

President Muhammadu Buhari recently asked the approval of the National Assembly to borrow the said loan from the World Bank.

Falana, while speaking at the 2016 annual general conference of Committee for Defence of Human Rights (CDHR) in Lagos on Saturday, urged the federal government to source for funds locally.

The lawyer, who is a former president of CDHR, said the government should use recovered loot and go after chronic debtors to fund its projects.

He said: “We hear that the federal government wants to borrow $29 billion to fund the economy, my advice is we do not need to do this at such a period in our economy.

“What about the millions of the recovered loots from those who stole our money, our money that are in the hands of those who decided to steal from the treasury?

“I have a report from Nigeria Extractive Transparency Initiative, NEITI which states that the oil companies and NNPC are owing the federal government a joint $20.2b.

“All these should be recovered and used for projects instead of putting the destiny of the younger generation and those to come in jeopardy as a result of the huge national debt it will bring.”

5 comments:

Hassan Aderemi said...

We have witnessed an instance where money was borrowed for capital project but it end up in the pocket of few greedy succeeded in adding insult upon our injury.

Anonymous said...

This government need to get their game plan right.

Charles

Anonymous said...

Irresponsible Government

Anonymous said...

Irresponsible Government

ats three said...

You never know who is telling the truth in this part of the world.

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