Falana Advises FG Not To Take $29bn Loan

Femi Falana

Human Right activist and former president of Committee for Defence of Human Rights, CDHR has advised the federal government not to go ahead with the proposed borrowing of 29 billion dollar loan from the World bank.
He added that instead of borrowing such huge amount and putting the future of the younger generation in jeopardy, he should source the funds internally from the money of recovered loot and others.
Responding to President Muhammadu Buhari’s request to the National Assembly to approve external borrowing plan of $29.960 billion to execute key infrastructural projects across the country between 2016 and 2018, Mr Femi Falana said at the 2016 Annual General Conference of CDHR held at MAN House in Ikeja over the weekend , that it was not wise to borrow such a huge amount at such a time. He said, “We hear that the federal government wants to borrow $29 billion to fund the economy, my advice is we do not need to do this at such a period in our economy.

What about the millions of the recovered loots from those who stole our money, our money that are in the hands of those who decided to steal from the treasury? I have a report from Nigeria Extractive Transparency Initiative,NEITI which states that the oil companies and NNPC are owing the federal government a joint $20.2b. All these should be recovered and used for these projects instead of putting the destiny of the younger generation and those to come in jeopardy as a result of the huge national debt it will bring.

Source: Leadership