• Buhari must take loan to pay contractors, revive economy – Oyegun

    Buhari must take loan to pay contractors, revive economy – Oyegun

    The national chairman of the ruling All Progressives Congress, APC, John Odigie-Oyegun, has walledthe borrowing plans of the Muhammadu Buhari administration, saying borrowing is unavoidable in view of the current economic realities in the country.

    Mr. Odigie-Oyegun said Nigeria needs to borrow in order to invest more on infrastructure and grow the economy.

    The APC Chairman spoke on Sunday night after receiving a lifetime achievement award presented to him by the Warri Choral Society during a classical music concert the Society held […]

  • Sanusi casts doubt over Buhari’s $30 billion loan

    Sanusi casts doubt over Buhari’s $30 billion loan

    Former Central Bank governor and current Emir of Kano, Sanusi Lamido Sanusi has strongly kicked against the plans by President Muhammadu Buhari to seek‎ Senate’s approval of his $30 billion loan request.

    Sanusi said even if the Senate gave its ascent to the loan, no country or global financial institution would be willing to grant such huge amount, given the instability of Nigeria’s economy. He made this disclosure during a policy dialogue forum organised by the Savannah Centre for Diplomacy, Democracy […]

  • Justice Akanbi kicks against $30 billion loan

    Justice Akanbi kicks against $30 billion loan

    Justice Mustapha Akanbi, pioneer chairman of the Independent Corrupt Practices and other related offences Commission (ICPC), has kicked against the proposed borrowing of about 30 billion dollars by the federal government.

    Speaking in Ilorin, Kwara State during the commissioning of a library complex built by the Mustapha Akanbi Foundation, he said the present government should prefer better management of economy than borrowing.

     

    Akanbi also said that Nigerians should be informed of facts behind the proposed borrowing.

    “For me I do not believe in […]

  • $29.9 billion budget loan may get NASS approval next week

    $29.9 billion budget loan may get NASS approval next week

    According to reports reaching ADELOVE, the National Assembly may give accelerated consideration to President Muhammadu Buhari’s request for N180 billion virement to fund 2016 budget next week.

     

    The National Assembly leadership met on Tuesday to consider Buhari’s $29.96 billion loan request considering the fact that the Presidency may have released N100 billion for the lawmakers to execute their constituency projects.

    It was that spirit that informed the swift consideration of the virement request.

    Subsequently, the request was referred to the Committee on Appropriations […]

  • $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 […]

  • We’re consulting on Buhari’s $29.96bn loan request – Reps

    We’re consulting on Buhari’s $29.96bn loan request – Reps

    Chairman of the House of Representatives Committee on Media and Publicity, Abdulrazak Namdas, has denied that the House is hesitant on considering President Muhammadu Buhari’s request for approval of $29.96 billion 2016-2018 external borrowing (rolling) plan.

    He told newsmen that the House will take action only when it has concluded consultations on the President’s letter.

    Namdas had told National Assembly correspondent on September 3 that the House was still consulting on the matter.

    He said: “The last time, I told you that we’re […]

  • 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 […]

  • CCT trial: Saraki purchased disputed properties with loan – witness

    CCT trial: Saraki purchased disputed properties with loan – witness

    The trial of Senate President Bukola Saraki on false assets declaration resumed, yesterday, with revelation that the properties in dispute (Plot 17A, and 17B or 17 and 17A, Mac Donald Street, Ikoyi) were purchased with loan and acknowledged as such in his Assets Declaration Form.

    The prosecution witness, Michael Wetkas, under cross examination by the defense counsel, Paul Usoro, admitted that in 2007, the Senate President actually noted in his form that he acquired the properties with loan obtained from a […]

  • National Assembly yet to receive details of Buhari’s $29.9bn loan proposal

    National Assembly yet to receive details of Buhari’s $29.9bn loan proposal

    Barring last-minute move, the National Assembly was yet to receive the details of the Federal Government 2016-2018 External Borrowing (Rolling) Plan of $29.9 billion, 2017-2019 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) from the Executive arm of government, checks last night revealed.

    Sources close to the leadership of the National Assembly said yesterday that the details demanded by the lawmakers as precondition for the consideration of the President’s requests has not been submitted.

    Recall that both chambers of the […]

  • Don’t politicize Buhari’s $29.9 billion loan request – Saraki

    Don’t politicize Buhari’s $29.9 billion loan request – Saraki

    Senate President Bukola Saraki on Friday urged Nigerians not to politicise the $29.9 billion loan request forwarded to the National Assembly by President Muhammadu Buhari for approval.

    The Senate on Tuesday rejected the request based on lack of detailed information.

    The Senate’s action was followed by opposition from some quarters.

    The Minister of Information, Lai Mohammed had disclosed on Wednesday that the end of the request has not come as it will be represented with detailed information to the National Assembly.

    Speaking with State […]