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| DA Blast the senate over 22.7 billion Loan granted to the APC govt- HE Prince Frank Ukonga -National Chairman of da-DA-Democratic Alternative Party says that it would lead to an excruciating debt burden |
Breaking News:DA Blast Senate on the $22.7
billion [N6.97 trillion] Loan approved for Buhari-H.E. Prince Frank Ukonga, the
National Chairman of DA Explodes-“DA take Exceptions to this looming Debt Trap
of Sleaze, Hunger, Poverty, and underdevelopment of Nigerians”
HE Prince Frank
Ukonga speaking to newsmen after the Emergency Meeting of NWC –National Working
Committee of DA-Democratic Alternative Party in Abuja today explodes, saying
“Nigeria's current debt
Portfolio at N33.85 Trillion Naira [$110.29 billion] of an increase of 22.58%
of our 2019 debt portfolio of $85.39 billion is above the critical level in the
context of DEBT/GNP ratio; Making Nigerian economy vulnerable to external
debtors of ADB, World Bank, Islamic Development Bank, Chinese, Japanese, French and
German creditors; almost at per our domestic debt portfolio at N17.94 trillion
[$58.4 billion] and it is a debt burden.”
“ The $22.7 Billion loans would lead to Sleaze, waste,
mismanagement, insolvency, illiquidity, debt repudiation, Currency and economic
devaluations, poverty, hunger, death, shame, and grieves…DA Takes Exceptions to
this looming debt trap that would lead to excruciating pains and
underdevelopment of Nigerians as the continuous downwards slide of Oil prices
would endanger Nigeria’s ability to service nor insolvent the debt”.
Today the Friday the 6th of February 2020, the
National Working Committee [NWC] of the Democratic Alternative Party DA held an
urgent meeting on crucial matters arising that bothers on the State of the
Nation and the NWC arrived at the following decisions.
1] The DA-Democratic Alternative Party condemn in totality
the Senate approval of $ 22.7 billion dollar Loan to the APC government of
President Mohammadu Buhari, observing that the said loan is most likely to be
mismanaged, sleazed and wasted which would lead to illiquidity, insolvency, the debt burden, poverty, Currency Devaluation, IMF Conditionality, unemployment, hunger,
scavenging, insecurity, death, shame, and grieves…Whence DA Take exceptions to
the loan approved by the Senate for the APC
government and called for the reversal of the approval with immediate
effect.
2]DA-Democratic Alternative Party also call on all well
meaning Nigerians and all stakeholders in the Nigerian project to examine the
Senate Loan approval objectively and
they would realize it would lead to a debt trap, shame, and underdevelopment of
Nigeria. Whence they should put pressure on the Senate for reversal.
3] The Democratic Alternative Party-DA, also knocks the APC
government on the issue of acute unemployment, comatose industrial and real
sectors of the economy, epileptic electricity generation,
and distributions, decaying
infrastructures of bad roads, bridges, rails, poor health delivery programs, abject
poverty, Hunger, scavenging, insecurity of lives and properties, senseless
killings, ethnic cleansing, terrorism, Kidnapping, high crime, collapsing Stock
Exchange market and stagnant economy of arrested animation. And called on the
failed government of APC to either resign or get back to work.
4. Furthermore: Our nutty-gritty study of the Projects President Buhari wants to back upon with the $22.7 billion Dollars are lofty and desirable as it is spread across
a] Capital Projects of Roads and Rail $13 Billion-58%
b] Electricity-$5.61 Billion- 34%
c]Others: Health, Education, Agriculture, Water, Governance, Communications, Mining, Environment, Telecoms, social spendings, etc about $3.4 Billion -8%
The major fear and anxiety of the DA -Democratic Alternative Party is the possibility of implementing these lofty programs. They are good and great programs but the President is surrounded by non-performance peoples who would collect the money and waste it away. When President Buhari Ruled Nigeria at 33 years old as a Military leader he had the action, zeal, tenacity, focus, determination, etc to accomplish more than these, but today he is old and surrounded by peoples who may not necessarily share his levels of commitments and that is why DA is skeptical.
a] Capital Projects of Roads and Rail $13 Billion-58%
b] Electricity-$5.61 Billion- 34%
c]Others: Health, Education, Agriculture, Water, Governance, Communications, Mining, Environment, Telecoms, social spendings, etc about $3.4 Billion -8%
The major fear and anxiety of the DA -Democratic Alternative Party is the possibility of implementing these lofty programs. They are good and great programs but the President is surrounded by non-performance peoples who would collect the money and waste it away. When President Buhari Ruled Nigeria at 33 years old as a Military leader he had the action, zeal, tenacity, focus, determination, etc to accomplish more than these, but today he is old and surrounded by peoples who may not necessarily share his levels of commitments and that is why DA is skeptical.
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