We’ll Keep Borrowing – APC Says As PDP Condemns Fresh Loans

We’ll Keep Borrowing – APC Says As PDP Condemns Fresh Loans

Reporters has reported that the ruling All Progressives Congress, APC, has defended the borrowing of President Muhammadu Buhari, saying that it “is for the good of the country”.

Recalling, the People’s Democratic Party (PDP) earlier declared that Buhari and the APC administration are selling Nigeria.

Kola Ologbondiyan, PDP National Publicity Secretary in a statement stated that the party is enraged by the “further mortgage” of the country and warned the National Assembly to protect generations unborn.

Further in the statement, he condemned the demand for another $4billion and €710million loans by President Buhari.

The PDP National Publicity Secretary also stated that with the “reckless borrowing”, Nigerians might eventually not have a nation after the APC leaves power.

Reacting, in a statement signed by the national secretary, Senator John James Akpanudoedehe, said the borrowings under the APC-led administration were transparently utilized for the purpose they were secured for.

He also said borrowings made under the current administration were based on genuine needs and necessity to strengthen the foundation of the national economy.

”Borrowings by the President Muhammadu Buhari-led administration is for the good of the country as the money is used to develop critical infrastructure.

Unlike in the brazen looting days of the PDP, the borrowings are designed to finance the deficit in the 2021 budget to enable the realization of the Nigerian Economic Sustainability Plan.

”Nigerians should also reflect and recall that the PDP had in its 16 years of misrule pushed the country into a dark ditch of insolvency.

”However, in a welcome and commendable change, the Buhari-led administration through its economic management skills bailed out states to pay salary backlogs and embarked on large-scale infrastructure development projects that stimulated the economy and exited the era of recession caused by the PDP administration,” the statement said.