Former Vice-President, Atiku Abubakar, on Sunday, August 2, demanded an apology from President Muhammadu Buhari, and the All Progressives Congress on behalf of Nigerians over alleged “reckless borrowing.”
This was contained in a statement titled “Loans: Buhari, APC Owe Nigerians An Apology,” signed by the Atiku Media Office, in Abuja.
According to the statement, the future of the country is in jeopardy due to the terms and conditions of the loans obtained from the Chinese government.
“Now, we all are aware that Nigeria’s sovereignty may have been traded for foreign loans; and God forbids our inability to service those loans, the lender country would take ownership of choice infrastructure on the Nigerian soil. No negotiation could be weaker than that,” Atiku explained.
“Nigeria had a total foreign debt stock of $7.02 billion on May 29, 2015. Today, our foreign debt is $23 billion and rapidly rising. Debt, by itself, is not a bad thing.
“But debt budgeted for such unproductive ventures; like the proposed $500 million upgrade of the Nigerian Television Authority; and other sundry bogus contracts, is debt that leads to death. To trade Nigeria’s sovereignty for this type of profligacy is the height of irresponsibility.
“Atiku Abubakar has long advocated for a more robust engagement of the private sector and promotion of foreign direct investment as sustainable alternatives through which the government could fund infrastructure development.”
The statement expressed regret that rather than considering the best interest of Nigeria and Nigerians; the current APC-led regime chose instead to mortgage our sovereignty for cheap foreign loans.
“The government of the day and the APC must apologise to Nigerians and make an admittance of guilt for taking the country through the throes of subjugation to another country.”
However, in a swift reply, the APC rejected Atiku’s call that President Buhari should apologise to Nigerians over loans the country has taken from China.
APC’s Deputy National Publicity Secretary, Yekini Nabena, in his statement, said Atiku does not have the moral right to make such demands.
“This is the person that should apologise to Nigerians. His party plundered the fortunes of the country due to their recklessness.
“Former Vice President Atiku Abubakar is not in any position to talk about borrowing; and not paying back or apologising to Nigerians on any loan facility taken by this administration.
“He should be the one to apologise to Nigerians on how his party, PDP; and the administration he served as Vice President took loan for power sector; but have nothing to show for it,” Nabena said.