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The ruling party in Nigeria – the All Progressives Congress, APC, has defended the decision of President Muhammadu Buhari to seek further loans insisting that it ‘is for the good of the country’.
Africa Daily News, New York recalls that the People’s Democratic Party (PDP) earlier declared that Buhari and the APC administration are selling Nigeria.
PDP National Publicity Secretary, Kola Ologbondiyan, in a statement said the party is enraged by the ‘further mortgage’ of the country and warned the National Assembly to protect generations unborn.
He also condemned the demand for another $4billion and €710million loans by the President.
Ologbondiyan further stated that with the ‘reckless borrowing’, Nigerians might eventually not have a nation after the APC leaves power.
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 submitted.
AFRICA DAILY NEWS, NEW YORK