• Proposed $30bn external loans not solution to forex supply crisis, says MAN

    Proposed $30bn external loans not solution to forex supply crisis, says MAN

    According to reports, the plan by the Federal Government to borrow $30 billion external loans to tackle the country’s infrastructural needs will not address the supply gap in the foreign exchange market currently hurting private sector operators.

    Chairman, Apapa branch of Manufacturers Association of Nigeria, MAN, Mr. Babatunde Odunayo, who disclosed this at the association’s 45th Annual General Meeting, AGM, in Lagos, said infrastructure and project-tied loans served a different purpose and benefit only lender countries.

    He said government should, instead, negotiate […]

  • $30bn loan request not part of my discussion with Buhari and Osinbajo, says Saraki

    $30bn loan request not part of my discussion with Buhari and Osinbajo, says Saraki

    According to reports, the President of the Senate, Bukola Saraki has called on politicians to stop linking his recent visits to both President Muhammadu Buhari and his Vice, Yemi Osinbajo to the $30bn loan request rejected by the senate.

    Insinuations in certain quarters have connected Saraki’s recent visits to the President and Osinbajo to the loan request turned down by the senate.

    Reacting to commentaries generated by his several visits to the Presidential villa, Abuja, Saraki in a statement advised both politicians […]

  • $30bn loan request: Osinbajo, Saraki, Dogara meeting in Aso Rock

    $30bn loan request: Osinbajo, Saraki, Dogara meeting in Aso Rock

    Reports reaching ADELOVE have it that the Vice President, Yemi Osinbajo, the President of the Senate, Bukola Saraki and the Speaker of the House of Representatives, Yakubu Dogara, are currently in a meeting.

    The meeting is holding in the office of the Vice President at the Presidential Villa, Abuja.

    The parley may not unconnected to resolving the impasse arising from the Senate’s decision to reject President Muhammadu Buhari’s $30bn loan request.

    Also expected to be discussed is the 2016-2018 Medium Term Expenditure Framework.

  • Buhari’s $30bn foreign loan will increase poverty – CCN

    Buhari’s $30bn foreign loan will increase poverty – CCN

    According to reports, the Christian Council of Nigeria, one of the five blocks in the Christian Association of Nigeria, has warned the Federal Government against hurrying to secure the controversial $30bn foreign loan because it could ruin the country in the future.

    The organisation said while the venture has helped some countries in the past, it had also destroyed others.

    The CCN said if Nigeria took the loan it would amount to “structural adjustment coming back to ruin us further and increase […]

  • NLC opposes $30bn foreign loan, calls for minimum wage review

    NLC opposes $30bn foreign loan, calls for minimum wage review

    It was gathered that the Nigeria Labour Congress (NLC) Friday expressed opposition to plans by the federal government to obtain a foreign loan of about $30 billion to fund infrastructural projects in the country.

    The NLC President, Comrade Ayuba Wabba, made the position of the Union on the loan issue public during the ongoing National Executive Council (NEC) meeting of the NLC in Sokoto.

    Wabba declared: “The NLC will not support the plan by the federal government to borrow more money from […]