In a recent statement by Dayo Adeyeye, the spokesman of the Peoples Democratic Party said the proposal will only plunge Nigeria into huge debts.
Adeyeye said: “We totally disagree with the APC led federal government on this latest move, and call on President Muhammed Buhari to first and foremost explain to Nigerians what his administration has done with the so-called ‘recovered looted funds’ and how far the 2016 budget is fairing.”
The party further said the President must itemise what he intends to finance with the proposed borrowing instead of lumping it up in a coded term, and to plunge the nation into debt.
Adeyeye further said: “Nigerians need to know how much revenue government has been able to generate from crude oil, non-oil and independent revenue sources since assumption of office from May 2015 to September 2016. This clarification will boost confidence of Nigerians on the management of their resources especially in this period of recession before thinking of engaging in external borrowing.
