One Love Foundation has lambasted the administration of President Muhammadu Buhari over the rising debt profile of the nation.
The group is enraged by the decision of the Buhari administration to request for fresh loans and warned the National Assembly to protect generations unborn by rejecting the request of President.
The civil society group condemned the demand for another $4billion and €710million loans by the President.
A statement by Chief Patrick Osagie Eholor, Global President said with the reckless borrowing, Nigerians might eventually be living in a “rented” nation.
Eholor lamented that the Buhari administration already accumulated N33.107trillion debt with nothing to show but decayed infrastructure and a depressed economy.
He said with the fresh request to take N2.66trillion loan and an additional N5.62trillion loan proposed for the 2022 budget, the government will put Nigeria in N40trillion debt with no clear-cut repayment plan.
He insisted that the debts hanging on the people are for nebulous projects whose scopes, utilities, locations and contractors are largely vague.
Eholor popularly known as Ultimate Equals tackled the government for excessive borrowing “instead of seeking ways to reduce the liability they have brought upon our nation”.
He urged the National Assembly not to push Nigeria into “deeper economic quagmire with foreign loans largely diverted to personal pockets of their corrupt leaders.
“I am appealing to the National Assembly not to jeopardize the future of our unborn generation. They should reject the loan request from the President. It is over six years now, we haven’t seen or felt the impact of the ones we’ve borrowing. I appeal to them to reject the loan and save the nation”.
One Love Foundation charged the National Assembly to save the nation by rising above partisan sentiments to reject the latest loan request by President Buhari.
