Home News FG Borrowing To Uplift Living Standards of Nigerians – APC
News

FG Borrowing To Uplift Living Standards of Nigerians – APC

Share
Buhari sacks ministers | Daily Report Nigeria
Share
The All Progressives Congress (APC) has claimed streams of loans obtained by the  President Muhammadu Buhari administration are aimed at uplifting the living standard of Nigerians.

President Buhari, had on On Tuesday, sought the approval of the national assembly to borrow fresh sums of $4,054,476,863 and €710 million, in an addendum to the 2018-2020 borrowing plan.

The request for the loan has generated mixed reactions among Nigerians.

Reacting to Criticism the request has generated  on Wednesday, APC caretaker committee national secretary, John Akpanudoedehe said: “Unlike in the brazen looting days of the Peoples Democratic Party (PDP), the borrowings are designed to finance the deficit in the 2021 budget to enable the realisation of the Nigerian Economic Sustainability Plan, that touches key sectors such as infrastructure development, boosting healthcare services, strengthening agriculture to deepen food security, more energy generation and continued tackling of the ravaging COVID-19 global pandemic,”

ATTENTION: Click HERE to join our WhatsApp group and receive News updates directly on your WhatsApp!

Also Read: Buhari Has Made Remarkable Achievements In Spite of Insecurity – PDP chieftain

“From the foregoing, it is abundantly clear that the borrowing is hinged on genuine needs and based on the necessity to strengthen the foundation of the national economy and achieve the desired primary purpose of the government of uplifting the living standard of the citizens.

“It was in PDP’s era that loans to fund power generation, purchase arms and ammunition to fight a raging insurgency was misappropriated and diverted to fund PDP activities; and the borrowed money ultimately found its way to the pockets of cronies, friends and family members of administration officials.

“Nigeria is still servicing a $460 million loan taken from China to fund a phoney Abuja Closed-Circuit Television (CCTV) contract awarded in August 2010.”

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
G4 Congratulates Tare Pondi on Chieftancy Title
News

G4 Congratulates Tare Pondi on Chieftancy Title

Socio-political group G4 has extended congratulations to Sir Chief Godfrey Tare Pondi,...

Omo-Agege Hails Ayiri Emami as Major Positive Force on 50th Birthday | Daily Report Nigeria
News

Omo-Agege Hails Ayiri Emami as Major Positive Force on 50th Birthday

Senator Ovie Omo-Agege, Deputy President of the 9th Senate, has congratulated High...

HOSTCON Youths Congratulate Godfrey Pondi on Chieftancy Title | Daily Report Nigeria
News

HOSTCON Youths Congratulate Godfrey Pondi on Chieftancy Title

The National Executive and Board of Trustees of the Host Communities Producing...

Pope Francis Laid to Rest in Basilica of St. Mary Major After Emotional Farewell | Daily Report Nigeria
News

Pope Francis Laid to Rest in Basilica of St. Mary Major After Emotional Farewell

Pope Francis was buried in the Basilica of St. Mary Major after...