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Lagos-based political activist and social critic, Chief Adesunbo Onitiri, has pleaded with the Federal Government not to take any further foreign loans to finance the current budget. .
In a statement in Lagos yesterday, Chief Onitiri said: ‘These loans are becoming increasingly alarming, posing a serious danger to our future generations”.
The Federal Government on Thursday wrote to the National Assembly, requesting to borrow a $5.513bn loan to finance the 2020 budget.
“It is a fact that Nigeria is immensely blessed with both human and natural resources. What we need now are prudence and determination.
“This is the time to look inwards and harness our God-given resources instead of going for foreign loans.
“We can cut down our budget to our size as we cannot pay back these loans in the immediate future.
“Let us cut the humongous salaries of our political appointees. Let us reduce the number of our ministers. Let us reduce the salaries of our National Assembly members,” the statement said.
