The All Progressive Congress, APC, ruled that it “is for the good of the country” and has defended President Mohammed Buhari’s borrowing.
Remember that the Democratic People’s Party (PDP) had previously declared the sale of Nigeria to Buhari and the administration of APC.
PDP Secretary of State Kola Ologbondiyan said in a statement that the National Assembly has been angry with the country’s “additional mortgage” and warned against the protection of unborn generations.
He also condemned the President’s request for additional loans of $4 trillion and €710 million.
Ologbondiyan also said that Nigerians may not have a nation after the APC leaves power, with “reckless borrowing.”
Reacting, the party in a statement signed by the national secretary, Senator John James Akpanudoedehe, said the borrowings under the APC-led administration were transparently utilised for the purpose they were secured for.
Akpanudoedehe said borrowings made under the current administration were based on genuine needs and necessity to strengthen the foundation of the national economy.
”Borrowings by the President Muhammadu Buhari-led administration is for the good of the country as the money is used to develop critical infrastructure.
Unlike in the brazen looting days of the PDP, the borrowings are designed to finance the deficit in the 2021 budget to enable the realization of the Nigerian Economic Sustainability Plan.
”Nigerians should also reflect and recall that the PDP had in its 16 years of misrule pushed the country into a dark ditch of insolvency.
”However, in a welcome and commendable change, the Buhari-led administration through its economic management skills bailed out states to pay salary backlogs and embarked on large-scale infrastructure development projects that stimulated the economy and exited the era of recession caused by the PDP administration,” the statement said.