A former Deputy National Publicity Secretary of the ruling All Progressives Congress (APC), Mr. Timi Frank, on Sunday, condemned plans by President Muhammadu Buhari to take a fresh N6 trillion loan.
The fresh loan, according to Buhari in a letter to the Speaker of the House of Representatives, Hon Femi Gbajabiamila, is meant to finance deficit in the 2022 budget.
But Frank, in a statement issued in Abuja, said it is better for Buhari to sell Nigeria as an entity than to continue to take loans thereby perpetually enslaving Nigerians.
According to him, Buhari should sell Nigeria and share the money among APC loyalists since his appetite for both domestic and foreign borrowings appears insatiable.
He lamented that despite the huge amount of loans already amassed by the Buhari regime, the country was still ranked the poverty capital of the world, a clear evidence that the loans never benefitted the poor masses or the completely knocked down nation’s economy.
“How can we have a president that only knows how to borrow with no tangible project to show for what has been borrowed. Nigeria today is beset by insecurity but Buhari cannot account for over N10 trillion defence budget since 2015. Nigeria was fortunate to secure debt forgiveness and cancellation during the administration of President Olusegun Obasanjo. But Buhari has since acquired over ten times the value of Nigeria’s debt that was written off by the Bretton Woods Institutions, that is, the World Bank and the International Monetary Fund (IMF).
“It is unfortunate that the Buhari regime has turned out to be the worst government since this democratic dispensation in view of its attempt to completely subjugate Nigerians to poverty by making them slaves to creditor nations and institutions across the world. As the 2023 general election draws near, Nigerians are being presented with an opportunity to vote in better and credible political leaders that would help free the country from the debt burden foisted on it by the Buhari-led APC regime, and ensure genuine development of the country,” the activist said.
