Nigerian President, Muhammadu Buhari, has written to Nigerian House of Representatives to request for the approval of fresh external borrowings totalling $5.513bn.
In the letter which was read by Speaker of the House of Representatives, Femi Gbajabiamila, at the plenary on Thursday, Buhari said the funds were for 2020 budget deficit, financing of critical projects, and some states of the federation.
President Buhari also presented a revised 2020 Appropriation Bill and 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper.
The National Assembly had recently approved a loan of N850bn for the Federal Government, while another request, which is to the tune of $22.79bn, which the Senate has already approved, is pending before the House.
Who is he going to borrow from this time…still the Chinese? Hasn’t this administration borrowed enough from different countries? When are they going to start to cut their coats according to their materials (clothes)? I guarantee you, there’s a lot of fellow Nigerians that have that kind of money; they’d love to lend the money to save the country…patriotism and a lot. Let the president borrow from them. Let them own Nigeria if we default (we know damn well we are going to default). It’s much better for fellow Nigerians to own Nigeria than the Chinese or another tier of colonizers.