ADC-PCC to N’Assembly: Reject Tinubu’s $21bn loan over lack of transparency.
The post ADC-PCC to N’Assembly: Reject Tinubu’s $21bn loan over lack of transparency appeared first on Vanguard News .
By Luminous Jannamike The African Democratic Congress Presidential Campaign Council (ADC-PCC) has urged the National Assembly to reject President Bola Tinubu’s proposed $20 billion and £1 billion foreign borrowing unless the Federal Government provides full details of the facilities and demonstrates their benefits to Nigerians.
The council said the fresh borrowing would add to the burden on Nigerians already battling rising living costs and increased taxation, questioning why the government was seeking more loans without accounting for previous borrowings and savings from fuel subsidy removal.
In a statement by its Director of Media and Publicity, Kola Ologbondiyan, the ADC-PCC faulted the administration’s borrowing plans, demanding evidence that the funds would translate into tangible improvements in citizens’ lives. “What exactly is President Tinubu borrowing all this money for? Where are the roads, the electricity, the hospitals, the jobs and the critical infrastructure that should justify this relentless accumulation of debt? Nigerians deserve answers,” Ologbondiyan said.
MSEApp News is publishing an original rewrite of this tip for readers, based on reporting associated with Vanguard.