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PDP Berates APC Senators For Approving Rejected $22.7b Foreign Loan

Accuses APC, Presidency Cabal of Racket Running

Press Statement

The Peoples Democratic Party (PDP) has berated All Progressives Congress (APC) senators for approving President Muhammadu Buhari’s request for a fresh $22.7 billion loan, which had been rejected by Nigerians across the board.

The party said in approving more financial burden on our nation, the APC senators have further shown that their party does not have the interest of Nigerians at heart, but is only out to repress and plunge our citizens into more hardship just for their selfish gains.

The PDP said it is distressing that the APC senators approved the loan, even when the Buhari Presidency have not justified the request; a situation that validates apprehensions that the APC senators have become rubber stamp legislators.

The fact that the $22.7 billion loan request brimmed with unexplained, obscure, over-bloated and questionable subheads, such as the scandalous $500 million dollars (N180 billion) smuggled in under the guise of upgrading the Nigerian Television Authority (NTA), shows that the APC and a cabal in the Presidency are in a huge financial racket, for which they are ready to plunge Nigerians into more suffering.

In approving the loan, even after it was clear that Nigerians are averse to it, the APC senators have confirmed that they are in league with other APC leaders to fleece our nation and bring more hardship to Nigerians.

The party notes as disheartening that under the Buhari Presidency our foreign debt has continued to accumulate with nothing to show other than excruciating unemployment rate, decayed infrastructure, a worsening governance system, escalated insecurity and unprecedented poverty.

The party however, commended the PDP senators for standing with Nigerians in fearlessly rejecting the loan as it will bring more hardship and further mortgage the future of our nation.

The PDP therefore calls on Nigerians to unite in defence of our nation by raising their voices to demand that Senate reverses this unpatriotic approval, which is completely against our national interest.


Kola Ologbondiyan
National Publicity Secretary

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