Your $500m loan request, plan to mortgage Nigeria, PDP tells Mohammed

This is just as the party told the National Assembly not to grant President Muhammadu Buhari’s $29.9 billion loan request as it contains the said $500 million and other unexplained expenses.

PDP, in a statement Monday by its National Publicity Secretary, Kola Ologbondiyan, said the National Assembly should reject any attempt by the cabal in the presidency to worsen the economic situation in country through the use of phony projects.

It alleged that it was a guise to draw foreign funds to service selfish economic and political interests.

According to the PDP, Nigeria’s foreign debt has accumulated to $83 billion under President Muhammadu administration with nothing to show for it “other than excruciating unemployment rate, decayed infrastructure, a worsening governance system, escalated insecurity and unprecedented poverty.”

The party said the $500 million loan request, if approved, “is aimed at setting the stage for further fleecing of our nation’s economy as the Federal Government under the Buhari administration has shown no commitment towards nation building, transparency and accountability in governance.

“Moreover, the Federal Government has failed to present details of the requested $29.9 billion loan in which the $500 million being requested by the Minister of Information and Culture is embedded; a development that points to nothing but the corruption in the Buhari administration.”

PDP advised Alhaji Mohammed to use his appearance at the National Assembly to give account of the funds so far released to the Ministry of Information and Culture which, it said, has been plagued by cases and allegations of corruption under his watch.