Atiku calls on National Assembly to reject fresh loan request

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Former Vice President of Nigeria, Atiku Abubakar has called on the National Assembly to reject fresh loans requests from the executive arm.

He made this request in a letter to the President of the Senate, Dr Ahmad Lawan received on the 25th of August.

Atiku urged the federal lawmakers not to grant any request for loans that are not income-generating or production-based.

He said Nigeria risks insolvency if it continues to borrow money, as previous loans were spent on non-viable projects.

According to the Debt Management Office (DMO), Nigeria’s total public debt as of March 2020 stood at $79.3 billion out of which external debt was $27.6 billion.

13 Comments

  1. NASS should look inward for a way to implore the governments which is federal, states and local government to stop reckless spending and divert the money to income-generating revenue. What atiku abubakar said is a welcome development.

  2. Nigeria government has taken huge amount of loan both international and internal, some of these previous loan taking by this government usually siphon by few people. Not to take loan is not the problem but to use the money for the purpose of what it meant for. Nigeria government should look for a way of promoting indigenous business.

  3. I back formal vice president for his solid advise, why borrowing borrowing Everytime. I will only plead nass to look in to it properly and do the rightful.

  4. that’s a good one Sir, because I myself I don’t support this their loan of a thing where’s the ones they collected past years they have not paid back now they want to collect another one. Just for the young ones to pay it for them. Please o they should not collect any loan

  5. It is disheartening to hear that Nigeria is always borrowing money. A country richly blessed by God is now a debtor.
    Mismanagement by leaders has dealt a very heavy blow on us
    All the monies that they borrow, what do they actually do with them
    The National Assembly should as a matter of importance listen to Atiku and see reasons why they should not allow the executive arm of government to go ahead and borrow this funds

  6. Borrow borrow country the food items they borrow from ECOWAS have they paid bck that one only God will save us in this country

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