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.